UAE to launch DeepSeek-inspired AI models: Faisal Al Bannai
Dubai, United Arab Emirates -- The United Arab Emirates is planning to launch new artificial intelligence models inspired by China's DeepSeek,...Technology Business
Maaden raises $1.25bn in sukuk offering
The Sukuk were offered in a five-year and a 10-year tranche.Company News Business
PIF to reveal complementary auto projects soon, says top official
Riyadh, Saudi Arabia -- The Public Investment Fund will soon announce complementary projects for the automobile industry, mainly batteries, said...PIF is currently focusing on attracting industries related to the automobile system, such as tires, glass, and plastics to Saudi Arabia.
The PIF has established three factories, Ceer, Lucid and Hyundai, finalizing the first phase of its mega project related to attracting the car manufacturing industry.
Air France-KLM posts profit jump
Turnover increased nearly seven percent to 8.7 billion euros.The group reported profit in the third quarter of 931 million euros, double the same period last year, as the group benefited from robust demand for air travel
Between July and September this year the group transported 26.9 million people - an increase of 7.6 percent compared to the same period the previous year
Intel beats earnings expectations
Net income of US chip giant tallied $300 million.Intel reported revenue of $14.2 billion, which was 8 percent less than the amount seen in the same quarter a year earlier but ahead of forecasts
Net income of US chip giant tallied $300 million, compared with $1 billion profit in the same period in 2022, earnings figures showed
Apple Watch models face US import ban in patent clash
Apple has been steadily ramping up fitness and health features with each generation of Apple Watch, which market trackers say...US International Trade Commission issued a "limited exclusion order" set to go into effect in 60 days if not nixed by President Joe Biden, according to California-based Masimo
The order stemmed from a complaint made to the commission in mid-2021 accusing Apple Watch of infringing on its patented technology for "light-based oximetry functionality
Hamas says 50 hostages dead in Israeli strikes on Gaza
Jerusalem - Hamas's armed wing said on Thursday that "almost 50" Israeli hostages held in the Gaza Strip since the...Earlier, the Israeli army said 224 people were abducted by militants during the attack that left 1,400 people, mostly civilians, dead.
"We have informed the families of 224 hostages. This number is changing based on the intelligence we obtain," military spokesman Daniel Hagari said
Positive trial for Pfizer-BioNTech Covid-flu jab
Berlin, Germany - Germany's BioNTech and US pharmaceutical giant Pfizer on Thursday announced "positive" results from initial trials of their combined...The messenger RNA method made its debut with the Pfizer-BioNTech coronavirus vaccine, which was the first jab against Covid to be approved in the West in late 2020
Pfizer and BioNTech first announced in November 2022 that they were planning to use the same technology to develop a combined Covid and flu vaccine
Saudi Arabia’s Ministry of Investment inks 3 MoUs at FII7
RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Investment signed three memoranda of understanding (MoU) in the fields of biotechnology,...The MoUs related to the biotechnology and pharmaceutical sectors aim to explore, develop, manufacture and market a range of potential new medicines.
The MoU of the financial services sector aims to provide an opportunity for investors to invest directly in key projects in line with the Saudi Vision 2030.
TotalEnergies Q3 profit up 1.5%
The French energy firm earned a net profit of $6.7 billion.Oil and gas prices surged last year following Russia's invasion of Ukraine, leading to windfall profits at energy firms.
While oil prices are still high in historical terms, the main crude oil contract was down 14 percent last quarter compared to the same period last year.
PIF, Pirelli establish a JV
The JV will set up a facility to make tires in Saudi Arabia.PIF will hold a 75 percent stake in the new JV with Pirelli holding the remaining 25 percent.
The JV will manufacture high-quality tires for passenger vehicles, under the Pirelli brand, in the Kingdom.
ASPACE to set up Saudi’s first satellite manufacturing unit
Riyadh, Saudi Arabia -- Saudi Arabia announced Thursday the completion of SAR 1 billion investment procedures by ASPACE, a Hong...The Hong Kong based company completed procedures for the investment of SAR 1 billion ($266 million) for the manufacturing facility.
The manufacturing company expects growth throughout the project phases, for the manufacturing of components, subsystems, and satellites.
