Fifth France-Arab Summit: Forging partnerships for a sustainable tomorrow
As the world grapples with uncertainty, the summit offers a much-needed space for cooperation and innovation, led by the Franco-Arab...Business Economy
UAE firms accelerate AI transformation, new report finds
The real power of AI lies in its careful deployment across diverse business functions, and the UAE is primed for...Business
Jordan’s interconnection projects to serve as hub for energy exchange
AMMAN, JORDAN -The Kingdom’s Ministry of Energy and Mineral Resources has emphasized the significance of current and upcoming electrical interconnection...Jordanian authorities are working on a project to connect the Kingdom’s Risha electrical station to Iraq's Rutba station.
The interconnection line will allow the Iraqis to power the Rutba area's loads, using the Jordanian grid.
BFB, The Family Office sign partnership
Bahrain FinTech Bay is a fintech ecosystem builder.BFB said that it will also explore the development of innovative digital investment solutions aligned with market trends.
Bader Sater, CEO of Bahrain FinTech Bay. "Our combined strengths will lead to the creation of cutting-edge digital investment offerings that cater to the market's evolving needs."
Iran and Cuba to set up joint ‘technology and innovation’ center
Tehran, Iran-- Iran and Cuba are looking to to set up a joint technology and innovation center to promote cooperation...The two countries apart from boosting economic ties are keen to develop mutual cooperation in the fields of science and technology
Cuba is planning to hold an exhibition in 2024 and has invited Iranian knowledge-based companies to showcase their latest achievements
AI ‘no substitute’ for fashion designers’ creativity
Fashion innovator Calvin Wong, who has developed the world's first designer-led AI system, says 'we must treasure the designer's original...The Interactive Design Assistant for Fashion (AiDA) uses image-recognition technology to speed up the time it takes for a design to go from a first sketch to the catwalk.
Wong said AiDA's particular strength was its ability to present "all the possible combinations" for a designer to consider, something he said was impossible currently.
Iran steel production to rise by 22% in two years to 55MT annually
Tehran, Iran -- Iran’s annual steel production capacity is expected to increase by more than 22 percent within the next...A senior official said that Iran’s steel output capacity had increased by more than six times in 20 years to reach a current figure of 45 million mt per year.
Iran is seeking greater access to export target markets as the domestic demand for steel is expected to stay at a present level of 20 million mt per year in the coming years.
Gulf banks show resilient growth despite US Fed hikes
Major banks in the UAE and Saudi Arabia, including the Commercial Bank of Dubai and First Abu Dhabi Bank, reported...Major banks in the UAE and Saudi Arabia, including the Commercial Bank of Dubai and First Abu Dhabi Bank, reported record profits in the first half of 2023, says a report
In H1 2023, Saudi Arabia exhibited outstanding credit facility performance as Al Rajhi Bank reported a net income of US$2.2m, while Riyad Bank achieved US$1bn after zakat
Saudi ministry inks economic pact with Alfaisal University
RIYADH, SAUDI ARABIA - The Kingdom's Ministry of Economy and Planning signed a deal with Alfaisal University to promote economic...Under the MoU, the two parties will cooperate to promote economic development, activate academic research.
The Ministry of Economy and Planning will provide consultations on the use of university resources such as student research.
California sues oil giants, alleges environment, climate-risks deception
The US state of California sued five of the world's largest oil companies, alleging the firms caused billions of dollars...The suit follows numerous other cases brought by US cities, counties and states against fossil fuel interests over the impact of climate change.
The suit seeks the creation of an abatement fund to pay for future damages caused by climate disasters in California.
Sharjah Social Security Fund offers service period purchase option
SHARJAH, UAE - The Sharjah Social Security Fund (SSSF) has allowed the possibility of acquiring the service period for insured...This move aligns with the fund's strategies aimed at enhancing the well-being of employees and providing them with opportunities to boost their pensions.
The fund said it is allowed to procure the service period for insured employees after they have completed a minimum of 20 years of actual service.
Saudi-China Entrepreneurs Association and HKTDC sign MoU
Hong Kong - The Saudi Arabia-China Entrepreneurs Association (SCEA) has signed a Memorandum of Understanding (MoU) with the Hong Kong...The MoU between SCEA and HKTDC aims to fortify commercial ties, particularly aiding startups and service providers eyeing global expansion.
The agreement was signed during the eighth Belt and Road Summit, a two-day event themed "Ten Years of Cooperation for Mutual Benefit".
