US$1.5 billion Amazon protection plan launched in Davos
A carbon markets investor backed by Swiss-trading house Mercuria said on Wednesday it had joined with two non-profits to raise...Business
1 Billion Followers Summit: AI’s transformative role in content creation highlighted by YouTube, Meta, Duolingo
Dubai, UAE - The 1 Billion Followers Summit, the world’s largest event dedicated to the content creator economy, brought together...Business
Meta, TikTok challenge incoming EU digital market law
Brussels, Belgium - Tech giants Meta and TikTok are contesting the scope of an EU law that from March will set...As with the Digital Services Act, which came into force in August, and the 2016 General Data Protection Regulation, the DMA comes with sharp teeth.
Companies found infringing the DMA expose themselves to fines that could go as high as 20 percent of their global turnover, or even orders to be broken up.
US chip curbs disturb Chinese firms AI projects
Shanghai, China - US restrictions on advanced computer chips are forcing China's tech giants to rethink their ambitious AI-powered projects, analysts...E-commerce titan Alibaba on Thursday became the latest Chinese firm to admit to feeling the bite of US sanctions
The curbs now target cloud computing to prevent Chinese companies from accessing powerful AI chips hosted elsewhere
NBM’s board approves increasing Murabaha sukuk issue to $133m
RIYADH, SAUDI ARABIA - National Building and Marketing Co’s (NBM) board of directors approved an increase of Murabaha SAR-denominated sukuk...The move aims to boost the company's capital expansions and working capital, the company said in a statement.
The sukuk issue was amended from a private placement to a public offering, the company said.
ADSB to make two vessels for ADNOC Logistics & Services
ABU DHABI, UAE - Abu Dhabi Ship Building (ADSB) announced that it is building two 28-meter vessels for ADNOC Logistics...The vessels are each powered by two diesel engines coupled with two Z-drive Azimuth thrusters.
This configuration allows them to achieve a speed of 12 knots and a bollard pull of 60 tons.
$5.8bn worth deals signed in first four days of Dubai Airshow 2023
DUBAI, UAE – Tawazun Council signed 16 deals, worth US$1.3 billion (AED 4.87 billion), with local and international companies on...The first day saw announcement of contracts worth US$1.2 billion and the second day US$1.8 billion
The total value of contracts announced on third day stood at US$1.3 billion
EPI to make assembly parts for Raytheon
EPI is part of the Platforms Systems cluster within EDGE.EPI will supply prototype quantities of machined aluminium and assembly parts for the Coyote® Counter-UAS interceptor.
The agreement supports the 'Make it in the Emirates' initiative, a comprehensive plan for developing the UAE's industrial sector.
PIF seeks to increase stake in Egypt’s e-Finance by 2 percent
Riyadh, Saudi Arabia -- Ibrahim Sarhan, the Chairman and Managing Director of e-Finance for Digital & Financial Investments based in...This move comes after PIF's recent buy orders for the stake purchase, indicating the fund's confidence in e-Finance and its favorable financial results, Argaam reported.
e-Finance expanded its operations by opening an office in Saudi Arabia this month, securing essential licenses with the support of PIF as a major shareholder.
IBM pulls ads from Elon Musk’s X over pro-Nazi posts
In the year since taking over Twitter, now rebranded as X, Musk has gutted content moderation, restored accounts of previously...The move came as X owner Elon Musk faced criticism for endorsing an unfounded antisemitic conspiracy theory on the service
Nonprofit Media Matters reported that it found Apple, Oracle and IBM ads displayed next to posts touting Hitler and the Nazi Party on X
Google launches new AI features for organizing photos
Washington, United States - Google said on Thursday that Google Photos now groups together similar photos and organizes screenshots and...Google Photos will automatically identify and group similar photos that were taken close together into Photo Stacks
The company is also applying the technology to screen shots and important documents stored on a user's phone
UAE awards EDGE $65m contract to supply unmanned aerial systems
Abu Dhabi, UAE – ADASI, the EDGE Group entity, a regional leader in autonomous systems and services, said on Thursday...Aimed at further advancing air operations, GARMOOSHA is an unmanned aircraft designed to carry payloads of 120kg with a range of 150km
With a low-consumption fuel engine, its sensor capabilities make it a versatile system capable of solving some of the most difficult challenges
