Amazon launches first Starlink-rival internet satellites
Project Kuiper, a subsidiary of the online retail giant founded by Jeff Bezos, is playing catch-up with Starlink - SpaceX's...Business
stc Group Q1 net profit up 11.05%
The Group reported a revenue of $5.12 billion.Company News Business
Saudi Arabia offers to fund Iraq’s largest housing project
Baghdad, Iraq - Saudi banks have offered to fund Iraq's largest housing project, which was previously stalled by South Korea's...Some Saudi banks have expressed their interest in contributing funds, along with several Iraqi banks and foreign investment companies
The Bismaya project had already seen the construction of approximately 30,000 out of the planned 100,000 houses near the capital Baghdad
G42 and OpenAI partner to provide UAE with AI solutions
Dubai, UAE-- G42 has announced a partnership with OpenAI to deliver cutting-edge AI solutions to the UAE and regional markets.The...The collaboration will leverage OpenAI’s generative AI models in domains where G42 already has deep expertise, like financial services, energy, healthcare and public services
Owing to the solutions created by G42, organisations in the UAE will be able to simplify the process of integrating AI capabilities into their existing enterprise landscapes
Saudi Central Bank to collaborate with monetary authority of Singapore in fintech
Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) signed an agreement with the Monetary Authority of Singapore (MAS) on...The agreement seeks to facilitate activities of both organizations in international markets
It will also provide a framework for cooperation between their innovation departments
KSA builds on MENA construction with $44bn contracts
Despite global economic challenges, the region showcased resilience in the first half of 2023, backed by a robust performance in...Despite global economic challenges, the region showcased resilience in the first half of 2023, backed by a robust performance in the construction sector
Future projections indicate growth, with Egypt's construction market expected to expand and Saudi's diversification efforts fueling further development
US tightens curbs on exports of advanced AI chips to China
Washington, United States - The United States on Tuesday said it was tightening curbs on exports of state-of-the-art AI chips to...The measures are the latest chapter in the policy started under the Trump administration to limit Beijing's ability to gain ground and become a leading tech economy.
The new rules tighten measures taken a year ago that banned the sale to China of microchips that are crucial to the manufacturing of powerful AI systems.
Asian stocks drop as Israel-Hamas conflict threatens to expand
Markets had enjoyed a healthy run Tuesday on optimism that while Israeli Prime Minister Benjamin Netanyahu was preparing for a...Asian markets mostly fell, with Hong Kong, Shanghai, Singapore, Mumbai, Jakarta, Taipei and Manila all down, along with London, Paris and Frankfurt.
Crude jumped more than two percent at one point on worries about supplies from the oil-rich region in the event of a wider war.
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
