Over 300 keynotes, panels, main sessions at 1 Billion Followers Summit’s third edition
Dubai, UAE - The third edition of the 1 Billion Followers Summit, the world’s first and largest event dedicated to...Business
Hackers stole US$2.2bn in crypto through 2024, Chainalysis Research
Crypto hackers stole US$2.2bn worth of crypto. This amount was a 21 percent yoy increase, the fourth consecutive year they...Business
Chinese high-end EV brand Zeekr to make Middle East debut
Dubai, UAE - Chinese luxury electric vehicle manufacturer Zeekr, a subsidiary of Geely, is set to make its debut in...Zeekr's expansion will begin in four Middle Eastern countries: Saudi Arabia, the United Arab Emirates, Qatar, and Bahrain
Chen Yu, a Vice President at Zeekr, expressed the brand's intention to adopt a competitive pricing strategy targeting traditional premium car brands like BMW and Aud
Saudi Arabia eyes global EV role following Lucid’s plant setup
Riyadh, Saudi Arabia -- Saudi Arabia aims to become a global player in manufacturing electric vehicles (EVs) and related products,...“The EV industry is one of 12 strategic industrial sectors covered by the National Industrial Strategy to boost the growth of industry across the Kingdom,” the minister added
Lucid Group’s choice of Saudi Arabia as the headquarters of its plant in the Middle East reflects the importance of kingdom’s unique geographical location, he added
UAE, Egypt central banks ink currency swap deal
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) on Thursday...The CBUAE is keen to deepen its cooperation with the CBE to positively impact the trade and investment, said the Governor of UAE’s central bank.
This step will bolster cooperation between the financial sectors in both the currencies, said the Governor of Egypt’s central bank.
Aramco to invest in LNG
The deal will be Aramco's first international investment in LNG.Aramco is likely to acquire a minority stake worth $500 million in MidOcean Energy, which is managed by the US investment firm EIG.
Aramco wants to become "a leading global LNG player", the firm's upstream president Nasir K. al-Naimi said.
New update allows ChatGPT to use internet for fetching data
New York, US - The generative AI platform ChatGPT can now fetch data directly from the internet and gather up-to-date information..."ChatGPT can now browse the internet to provide you with current and authoritative information, complete with direct links to sources," OpenAI said.
Until now, ChatGPT's responses to user queries were based on a vast database, which did not contain information from after August 2021.
Israel sells Arrow 3 missile defense system to Germany for US$3.5bn
TEL AVIV, ISRAEL - Israel's US$3.5-billion sale of its Arrow 3 missile defense system to Germany, sparked by security fears after...Israeli arms exports reached a new record of $12.5 billion dollars last year, double the amount from three years earlier, says its defense ministry.
Israel, together with its top ally the United States, has developed hi-tech systems designed to knock incoming rockets and missiles out of the sky.
UAE markets top Arab stock exchanges in trading, says AMF
ABU DHABI, UAE - The financial markets of the United Arab Emirates topped the Arab stock exchanges during last week's...The AMF said that the UAE markets achieved monthly market gains of over US$6.2 billion.
The fund said the market capitalization of the Saudi Financial Market reached US$2.97 trillion.
Red Sea Global teams up with Bear Grylls Survival Academy
Riyadh, Saudi Arabia--Red Sea Global (RSG) will become the exclusive agent for Bear Grylls Survival Academy (BGSA) bringing the world-famous...The collaboration between the two promises to offer outdoor enthusiasts the opportunity to learn key team building, wilderness education and survival skills
Red Sea Global looks to recurit and train local outdoor enthusiasts in the art of survival and expedition leadership, creating hundreds of jobs for Saudis
Technical glitch stifles production at Volkswagen
According to financial daily Handelsblatt, production came to a complete standstill in Wolfsburg and at the company's plants in Emden,...The disruption began at 12:30 pm (1030 GMT) and had still not been resolved by the evening, Volkswagen said
The cause of the technical problems was not known but "an external attack is unlikely to be the cause", German automaker said
Oil prices climb up to highest level in a year
The jump in oil prices came in the wake of a a surprising drop in US crude inventories. Oil prices...The increase in crude prices was seen by analysts as a drag on US equities, which opened higher, but finished mixed
The dollar added to gains seen as higher US bond yields make the greenback more attractive as a haven
