Tehran, Baghdad to launch maritime passenger transport line
TEHRAN, IRAN – Iran and Iraq will launch the first maritime passenger transport line within the next two months, an...Business Geostrategy Tourism
Tech giants Foxconn, Nvidia announce they are building ‘AI factories’
The world's largest contract electronics maker, Foxconn -- officially known as Hon Hai Technology Group -- already plays a lynchpin...The "AI factories" would include "digitalization of manufacturing and inspection workflows, development of AI-powered electric vehicle and robotics platform
If successful, Foxconn's customers could use these systems to deliver generative AI services and use simulation to train autonomous machines
Musk’s X starts charging new users for basic features in two countries
Tech billionaire Elon Musk, who bought Twitter last year for $44 billion, has long complained about fake accounts, bots and...New users in New Zealand and the Philippines will have to pay an annual fee for the ability to write on X, like and reply to posts, and bookmark content
Those who decline to pay will be able to access X in read-only mode, limited to viewing content and following accounts, the company said
World must add or replace 80 million km of grids by 2040: IEA
Paris, France-- Achieving all national climate and energy goals will require adding or replacing 80 million kilometres of power lines...The IEA said that unless policymakers act to improve and expand the world's electricity grids it could put reliable sources of electricity at risk
The report also identifies a large and growing queue of renewables projects waiting for the green light to be connected to the grid
Sipchem 9M net profit down 67%
There was a 70% QoQ drop in net profit for the third quarter of 2023.The lower profit was due to a decline in revenues on lower product prices, as well as a fall in sales.
In addition, the company's share of profits from investments in a joint venture and associates decreased, Argaam said.
Qatar signs 27-year gas deal with UK’s Shell
Last year Shell inked a deal with QatarEnergy for a 9.4% stake in Qatar's North Field South project, the second...Qatar will supply 3.5 million tons of gas a year under the deal, QatarEnergy said
The gas-rich country is set to raise its output of liquified natural gas by 60 percent
ADNOC Gas inks $500-700m LNG supply pact with JERA Global Markets
Abu Dhabi, UAE - ADNOC Gas on Wednesday announced a multi-year liquified natural gas (LNG) supply agreement, valued between $500...This agreement builds on the long-standing relationship between the UAE and Japan and reinforces ADNOC Gas’ position as a global LNG export partner of choice
ADNOC’s LNG production facilities on Das Island supplied LNG to the Tokyo Electric Power Company, one of the parent companies of JERA Co, for over 40 years
United Airlines Q3 profit up
The airlines' net income stood at US$1.1bn, up 20.7 percent.The airline warned its profits might be hit by rising fuel costs, and the prospect of a prolonged conflict in the Middle East.
Its total operating revenues were $14.5 billion for the same period last year, up 12.5 percent, while capacity was up 15.7 percent
Masdar City and Huawei sign MoU to power UAE’s transition to net zero
Dubai, UAE--Masdar City and Huawei have signed a memorandum of understanding (MoU) to enable the UAE to power its way...The agreement will enable capacity-building in net-zero development, help reduce the carbon footprint of Masdar City’s information and communications technology infrastructure
The net zero framework will encourage organisations to reduce the energy demand of information and communications technology systems and operations while switching to clean energy
Moro Hub and DDA sign MoU to safeguard Dubai’s information assets
Dubai, UAE--Moro Hub, the digital arm of DEWA, has signed a memorandum of understanding (MoU) with Digital Dubai Authority (DDA)...According to the terms of the agreement, Moro Hub will extend its cyber security services to safeguard Dubai's government entities' information assets and systems
The collaboration between Moro Hub and DDA will play a pivotal role in ensuring that Dubai remains at the forefront of secure and sustainable smart city initiatives
Emirati investments in Turkey reach $5.6 billion in 2022
ABU DHABI, UAE – Ahmet Burak Daglioglu, Head of the Investment Office of the Turkish Presidency, said that the cumulative...UAE currently stands as Turkey's 13th largest trade partner for exports and the 15th largest for imports.
From 2014 to 2022, the total foreign direct investment from Turkey to the UAE amounted to approximately $1.1 billion
