US Fed expected to look beyond Trump win and cut rates again
The labor market has remained resilient, despite a sharp hiring slowdown last month due to adverse weather conditions and a...Business
Microsoft unveils autonomous AI agents for business tasks
San Francisco, United States - Microsoft on Monday said it was enhancing its AI offerings with new autonomous agent capabilities as...Business
Federal Reserve begins two-day talk on interest rates
Washington, United States - The US Federal Reserve began two days of discussions on Tuesday at which policymakers are expected to...It will culminate on Wednesday afternoon with the publication of the interest rate decision, along with an updated summary of economic projections (SEP)
The Fed has raised interest rates to a 23-year high of between 5.25 and 5.50 percent as it looks to return inflation firmly to its long-term target of two percent
Google’s new AI for corner kick tactics gets Liverpool approval
PARIS, FRANCE – Liverpool football analysts have given their seal of approval to a new artificial intelligence tool from Google that...Many clubs across the world already deploy experts to comb through video and data to carefully plan corner kick scenarios ahead of matches.
Google DeepMind, the AI arm of the US tech giant, also targeted corners for its new TacticAI system in research.
Masdar to buy stake in Terra-Gen
Masdar to buy 50 percent stake in Terra-Gen from ECP.Masdar’s US portfolio of utility-scale wind, solar and storage assets has a generating capacity of over 1.4 GW.
The US market will play a vital role as Masdar plans to build a renewable energy portfolio of 100 GW capacity by 2030
AstraZeneca to buy Fusion
The $2.4bn deal is its latest expansion into cancer treatments.Fusion is developing next-generation radiotherapy to treat cancer via precise targeting that minimizes damage to healthy cells
AstraZeneca, whose cancer treatments represent a third of its overall sales, saw its share price drop one percent following the news
UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...This robust financial footprint positions the UAE as a significant economic force with strong potential for continued expansion.
The focus on emerging markets and the creation of strategic partnerships further amplifies this momentum.
Saudi EXIM bank surpasses 2023 credit goals by 33%
Riyadh, Saudi Arabia -- The Saudi EXIM Bank has given credit facilities amounting to SAR16.5 billion ($4.455 billion), surpassing the...One significant achievement was a credit facility agreement valued at $503.9 million with Trafigura Company, a major international export house
The agreement aims to facilitate Saudi non-oil exports to over 150 countries, contributing to the objectives of the Kingdom's Vision 2030
‘GCC set to dominate global cryptocurrency market’
“Oman is emerging as a standout in the regional crypto mining landscape, highlighted by its support of Exahertz, an Omani...The GCC region is leveraging competitive energy rates, crypto-friendly regulations, and essential infrastructure to become a global crypto powerhouse, says an expert.
Oman's substantial $1.1bn investment in crypto mining aims to boost its Bitcoin sector, with predictions of Bitcoin reaching $100,000, adds, Ritu Singh of Stone X Group.
Saudi Aramco CEO calls energy transition strategy a failure
Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current...Fossil fuels accounted for 82% of global consumption last year, according to KPMG report
The International Energy Agency has said oil demand could hit a record this year
Nvidia unveils ‘superchips’
The company also announced other AI developments.Nvidia's powerful GPU chips and software are an integral ingredient in the creation of generative AI, with rivals like AMD or Intel still struggling to match the power
Apple, Microsoft and Amazon have also developed chips with AI in mind, but for now are stuck trying to get their hands on Nvidia’s coveted products
Foreign investments boost Saudi financial market
Saudi Arabia's financial market is on an upward trajectory, fueled by substantial foreign investments and strategic economic diversification under Vision...The Kingdom's financial market is on an upward trajectory, fueled by substantial foreign investments and strategic economic diversification under Vision 2030.
With the Aramco IPO on the horizon and a series of reforms attracting global attention, Saudi Arabia is setting the stage for a financial revolution.