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
Gemini’s inaccurate AI racial images warn of tech titans’ power
AUSTIN, US – For people at the trend-setting tech festival here, the scandal that erupted after Google's Gemini chatbot cranked out...Gaffes such as the images of ethnically diverse Nazi troops forced Google to temporarily stop users from creating pictures of people.
Social media users mocked and criticized Google for historically inaccurate images, like those showing a female black US senator from the 1800s.
Nakheel, Meydan join Dubai Holding
The Board of Directors of both Nakheel and Meydan will be abolished.Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum directed the two to merge under Dubai Holding under the leadership of Sheikh Ahmed bin Saeed Al Maktoum
He said the goal is to create a more financially efficient entity, owning assets worth hundreds of billions, and comprising global expertise across various sectors
Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...The Saudi delegation held meetings with teams from Canada, the Czech Republic and Ecuador.
These are part of the 85 meetings they will hold with officials of countries and global firms participating in the event.
ExxonMobil makes new oil discovery
The oil and gas strike is the first of 2024.The oil and gas strike, the first of 2024, was in the Stabroek block, the company said Friday
Drillers "encountered approximately 197 feet (60 meters) of hydrocarbon-bearing sandstone," Exxon said
Gulf aviation industry sets sky-high standards
"The demand from certain sectors indicates a strong interest in First Class, prompting us to introduce a newly-designed First Class...Qatar Airways CEO, Engr. Badr Mohammed Al Meer, emphasizes innovation in elevating customer experience amidst growing competition.
Digital innovation drives organizational efficiencies, supporting the expansion of Qatar Airways into growth markets like China and India.
UAE’s working mothers get extended maternity leave
The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120...The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, says Kathryn Martin of VFS Global.
This initiative, led by companies like VFS Global, not only enhances employee well-being but also promotes gender equality and diversity in the workplace, she adds.
Air Arabia shareholders approve 20% dividend for FY2023
SHARJAH, UAE – Air Arabia shareholders approved the distribution of a 20 percent cash dividend for the financial year ended...The dividend, which is equivalent to 20 fils per share, underscores another year of record financial performance.
In 2023, Air Arabia added 26 new routes to its global network from its operating seven hubs.
Du, Samsung ink agreement
The two companies have signed a three-year partnership.This collaboration allows for expansion in the business-to-consumer (B2C) and business-to-business (B2B) segments.
The companies will also collaborate on reaching the younger generation, with joint participation in events like the Dubai Esports Festival.
Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023
RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...This translates to a non-oil economy valued at US$$453 billion (SAR1.7 trillion) at constant prices.
Non-oil economy is valued at $$453 billion at constant prices, fueled by growth in investment, consumer spending and exports.
Vodafone sells Italian unit to Swisscom
British telecoms giant sold the business for US$8.7 billion.Vodafone has been on a cost-cutting campaign that has included layoffs and the offloading of divisions abroad
Its CEO said the deal with Swisscom marked the "third and final step in the reshaping of our European operations"