Perplexity eyes TikTok buy
TikTok faces a deadline to divest from its Chinese owner or be banned in the US.Company News Business
Saudi table egg production crosses 8 billion, achieves 100% self-sufficiency
Riyadh, Saudi Arabia -- Saudi Arabia's poultry sector has reached complete self-sufficiency in table egg production, with output surpassing 8...Business
Oil giant Aramco says to offer shares worth over $10 bn on Saudi bourse
Riyadh, Saudi Arabia - Oil giant Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than...In a statement posted to the Saudi stock exchange, Aramco announced a secondary public offering of 1.545 billion shares
The sale on the local bourse, which represents approximately 0.64 percent of the company's issued shares, will commence on Sunday
Saudi Arabia partners with Microsoft Arabia for AI use in media
Riyadh, Saudi Arabia - The Ministry of Media and Microsoft Arabia signed a memorandum of understanding (MoU) in Riyadh on...The collaboration spans data analysis, machine learning, artificial intelligence, security and privacy solutions, and software and service development solutions
The MoU aims to enhance the media sector in Saudi Arabia, enabling it to contribute to the local economy and benefit from the advancements of artificial intelligence
Musk plans largest-ever supercomputer for xAI startup: report
Washington, United States - Billionaire tech mogul Elon Musk has told investors he plans to build a supercomputer dubbed "gigafactory of...Musk wants the supercomputer - which will string together 100,000 Nvidia chips - operational by fall 2025, and "will hold himself personally responsible for delivering it on time,"
The planned supercomputer would be "at least four times the size of the biggest GPU clusters that exist today," such as those used by Meta to train its AI models
Algeria signs gas field deal with oil giant ExxonMobil
Algiers, Algeria - Algeria's state oil company announced Thursday it signed a memorandum with ExxonMobil to develop two gas fields, a...The two companies plan to "study the existing opportunities to develop the hydrocarbon resources in the Ahnet basin and the Gourara basin" in southern Algeria
The agreement was signed in Algiers by Sonatrach's chief executive Rachid Hachichi and the head of exploration at ExxonMobil, John Ardill
‘Canon aims for a 42% reduction in GHG emissions by 2030 and net zero by 2050’
Venkatasubramanian (Subbu) Hariharan, MD of Canon Middle East and Turkey, highlights the significance of remanufacturing and refurbishment for reducing environmental...Canon's sustainability strategy focuses on remanufacturing, renewable energy, and eco-label certifications, Venkatasubramanian (Subbu) Hariharan says
The company inspires youth through the Canon Young People Program, empowering them to address sustainability issues with creativity and critical thinking, he adds
Saudia Group in ‘landmark’ deal for 105 Airbus planes
In a wide expansion of aviation services, Saudi Arabia's top airline Saudia Group has place an order of 105 aircraft..."Aviation supports 241,000 jobs, and a further estimated 717,000 jobs in the tourism sector," a Saudi report said.
Saudi authorities have also announced plans for a new airport in the capital Riyadh capable of accommodating 120 million passengers a year.
Iraq father begins legal action against BP over son’s cancer death
Rumaylah, Iraq - Hussein Julood is taking legal action against British energy giant BP after he lost his son to...The bereaved father, who lives near the Rumaila field in the southern province of Basra, is demanding that the firm compensate him for his son Ali's medical expenses
He said no amount of money would make up for his son's death. But "what I am claiming is my right", added the 55-year-old father of seven, from his modest home
SAMA Licenses ‘Hala Financing’ to provide crowdfunding solutions
Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) has licensed "Hala Financing" to provide debt-based crowdfunding solutions. With Hala...With Hala Financing, there are now 11 authorized companies offering debt-based crowdfunding solutions in Saudi Arabia
The addition brings the total number of finance companies licensed and permitted by SAMA to 62, according to a SAMA news release
US says Boeing can be prosecuted for 737 MAX crashes
San Francisco, United States - The US Justice Department on Tuesday said Boeing can be prosecuted for two subsequent 737 Max...Boeing breached obligations under an agreement that had shielded it against legal proceedings for the accidents, department officials said in a letter to a federal court in Texas
Such a breach would mean Boeing can be prosecuted for any violation of federal law related to the crashes, according to US justice officials
OpenAI reveals new GPT-4o model that is faster and free for all users
OpenAI on Monday launched a new AI model and desktop version of ChatGPT, along with an updated user interface, the...OpenAI, backed by Microsoft, has been valued at more than $80 billion by investors
The new model can respond to users’ audio prompts “in as little as 232 milliseconds
