Apple unveils new iPhone built for AI, looks to boost sales
Cupertino, United States - Apple on Monday unveiled new iPhones built for generative artificial intelligence as it seeks to boost sales...Business
Nvidia’s forecast dampens AI enthusiasm in other tech stocks
Shares of Nvidia and other technology heavyweights fell late on Wednesday, a discouraging sign for investors betting that a strong...Business
UAE-Saudi non-oil trade reaches US$159bn in 2018-22
ABU DHABI, UAE - The volume of trade exchange between the UAE and the Kingdom of Saudi Arabia grew by...The volume of trade between the UAE and the Kingdom of Saudi Arabia grew by 28 percent in 2022.
The year 2021 saw growth, reaching $33.9 billion (AED 124.65 billion), compared to $28 billion (AED 103.91 billion) in 2020.
US and China seek improved ties via new working groups
Chinese state broadcaster CCTV also announced the launch of an "Economic Working Group" and "Financial Working Group," saying both will...The formation of the groups was agreed during talks in July between US Treasury Secretary Janet Yellen and Chinese Vice Premier He Lifeng in Beijing.
The Economic Working Group will discuss macroeconomic issues, while the Financial Working Group will focus on regulatory and financial stability issues.
Microsoft to acquire Activision Blizzard
Activision Blizzard makes popular games like "Call of Duty".The transaction faced scrutiny from regulators in the United States as well as Britain, where the CMA blocked a similar deal in April.
Activision Blizzard CEO Bobby Kotick said the UK regulator's announcement was "a significant milestone for the merger".
Dubai ranks fifth globally on key shipping development Index
Dubai, UAE -- Dubai has maintained its ranking among the top five global maritime centres on the 2023 International Shipping...The city also ranked first in the Arab world for sea freight and logistics services on the 2023 International Shipping Centre Development (ISCD) Index.
Dubai is the only Arab city on the list. Singapore, London, Shanghai and Hong Kong secured the top four ranks on the Index.
ADIB completes $750m sukuk redemption
The sukuk, issued on Sept 20, 2018, carried profit rate of 7.125%.ADIB redeemed them at the trustee call amount, equivalent to the prevailing face value of the certificates along with any outstanding payments as of September 20, 2023.
Earlier in July 2023, ADIB had successfully raised an additional $750 million through the issuance of new additional tier-one (AT1) perpetual sukuk.
Cisco buys Splunk for US$28bn
Splunk is a software platform that uses AI to identify malware.Cisco will pay a premium of $157 per share, up from the $120 Splunk traded at before the announcement.
According to the company's website, Splunk was founded in 2003 and holds over 1,100 patents.
Securiguard Middle East renews contract
Firm won $109 million contract extending over four years.The contract can be extended for an additional two years in the event of satisfactory service.
The firm will deploy a team of over 2,000 experienced and qualified guards across Abu Dhabi.
UAE stocks generate strong cash flows as DFM hits 8-month high
Abu Dhabi, UAE--UAE stock markets Thursday continued to capitalize on improved investor sentiments, defying US Fed's decision to keep interest...Energy, banking and real-estate stocks lead the gainers in the capital's bourse as Emaar drove DFM to an 8-year high of 4,179.680 points
In Abu Dhabi, Index FADGI closed 0.239% higher at 9,845.990 points, buoyed by robust trading over real estate giant Aldar Properties which ended 7.9% up
Microsoft to offer OpenAI’s Dall-E 3 in Bing
Microsoft has bet big on AI, notably with a $10-billion envelope dedicated to its partnership with OpenAI, and is now...Two versions of Dall-E were developed by OpenAI and presaged the massive explosion of interest in generative AI that came when it released ChatGPT late last year
Dall-E uses machine learning technology to generate digital images from natural language descriptions and the third version, due to be released in October
Agriculture deals worth $471m inked at China-Arab States Expo
Beijing, China -- A total of 34 deals worth approximately AED1.73 billion ($471 million) were signed at the conference on...Last year, trade value of agricultural products between China and Arab countries reached US$5 billion (AED18.36 billion).
China has held nearly 500 training sessions for nearly 10,000 agricultural officials and technical staff from 22 Arab League member countries.
