MGX participation confirmed in OpenAI’s US$6.6bn in new funding, valuing it at US$157bn
OpenAI has finalized a deal to receive US$6.6 billion in new funding from investors who valued the company at US$157...Business
OpenAI chief technology officer Mira Murati leaving company
San Francisco, United States - OpenAI chief technology officer Mira Murati on Wednesday said she is leaving the company behind ChatGPT,...Business
Saudi Ministry of Investment and Agility sign MoU to boost healthcare sector
Riyadh, Saudi Arabia-- Saudi Arabia and Agility have signed a memorandum of understanding (MoU) to introduce cutting-edge health technology and...The agreement includes the potential to widen digital health services and localizing the supply chain for innovative new medical technologies
The MoU looks to widen people's access to preventative health services to combat chronic diseases such as cardiovascular disease and breast cancer
HSBC Q3 profit up
Its pre-tax profit more than doubled to US$7.7bn.The banking giant reported third-quarter revenue grew 40 percent to $16.2 billion
It announced a new $3bn share buyback program, after two similar initiatives this year
‘ESG, AI and robotics remain FII’s investment focus’
FII Institute remains committed to innovative and sustainable technology investments, Anthony Berkley, ACT Director and Head of Investments, tells TRENDS.FII Institute remains committed to innovative and sustainable technology investments, Anthony Berkley, ACT Director and Head of Investments, tells TRENDS.
Its portfolio includes pioneering firms in AI and robotics, reflecting a focus on impactful solutions in critical areas like sustainability, health, and education.
Hamriyah Freezone and Amazon UAE sign lease agreement for new logistics center
Sharjah, UAE--Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics centre which will...The agreement supports Amazon UAE’s commitment to investing across the country in order to shore up economic growth and innovation
The freezone's infrastructure and location together with Amazon's technology are expected to boost customer convenience and reliability
Saudi Exchange to launch Single Stock Options contracts
Riyadh, Saudi Arabia – The Saudi Exchange on Sunday announced its intention to launch the Single Stock Options (SSOs) contracts,...SSOs contracts will be available to trade on 27 November 2023, enabling local and international investors to hedge and manage portfolio risks effectively
The contracts will be cleared and settled by the Securities Clearing Center Company (Muqassa) in line with international best practices
Arab Bank posts net profit
It posted a profit of $630 million in January-September 2023.The Group maintained its strong capital base with a total equity of $10.8 billion.
Excluding the impact of devaluation of several currencies against the US dollar, loans grew by 4 percent.
Hamriyah Freezone Authority, Amazon UAE ink pact for logistics center
SHARJAH, UAE - Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics center...Once launched, the new center will enable a seamless delivery experience across the Northern Emirates.
HFZA’s location and over 20 years of Amazon’s technology and operational expertise will enhance convenience for customer orders.
Elm net profit up 43%
The profit growth was driven by 27% revenue increase.The rise in revenue resulted from a surge in digital business revenue by 42.70 percent.
The third-quarter net profit grew 22.2 percent to SAR 334 million, from SAR 273.36 million in Q3 2022.
Sulaiman Al Habib 9M profit $405m
The Group reported a nearly 16% year-on-year rise in revenues.The higher revenues were driven the hospital and pharmacy segments, due to the increase in the number of patients and inpatients occupancy.
In Q3 2023, the net profit climbed 30 percent to SAR 544.8 million from SAR 420.6 million in Q3 2022.
Lebanon court orders ex-car boss Ghosn out of Beirut home
Ghosn and his wife must "vacate the property... within a month", according to a copy of the decision seen by...Ghosn, who took up residency in the Beirut property after fleeing prosecution Japan in 2019, appealed the ruling on Friday, the Judicial official said
Phoinos initiated the legal action in 2019 and has accused Ghosn of "trespassing on private property and living in the home without legal basis", the official added
