Risks are interconnected, need collaborative solutions, says WEF’s Mark Elsner
Davos, Switzerland – Mark Elsner, Head, Global Risks Initiative, World Economic Forum sat with TRENDS during WEF’s summit in Davos...Technology Business Economy Geostrategy Global
Rudolph Lohmeyer: The Gulf is redefining the global future, not just adapting to it
The Middle East must counter global economic divergence by enhancing regional financial integration to drive collective growth, Rudolph Lohmeyer tells...Business Economy
ACWA Power signs clean energy agreements with Chinese partners
Riyadh, Saudi Arabia -- Saudi-listed ACWA Power has signed seven cooperation agreements with Chinese firms for solar, green hydrogen and...The agreements were signed with entities including State Power Investment Corporation, one of the largest state-owned power generators in China.
The agreements, which include green hydrogen and water desalination projects, the third Belt and Road Forum held in Beijing on October 17-18.
Dubai’s tech ambitions take center stage at GITEX Global
Dubai, UAE - Global tech giants such as Google, Microsoft, Zoom and Huawei are among more than 6,000 businesses displaying...Global tech giants such as Google, Microsoft, Zoom and Huawei are among more than 6,000 businesses displaying their latest advancements at the event.
The 2023 edition has attracted 180,000 technology specialists from 180 countries, a 40 percent increase from previous years.
Presight AI, TOTM form joint venture
The JV will develop and deploy their combined proprietary technologies.The joint venture agreement will establish an entity that will leverage Presight’s Big Data AI and Data Analytics capabilities.
This will allow governments and enterprises to transform mission-critical infrastructure with intelligent new solutions that are data-driven.
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
