Netflix adds millions of subscribers but growth slows
San Francisco, United States - Netflix on Thursday said it added more than five million subscribers in the recently ended quarter...Business
MGX participation confirmed in OpenAI’s US$6.6bn in new funding, valuing it at US$157bn
OpenAI has finalized a deal to receive US$6.6 billion in new funding from investors who valued the company at US$157...Business
CBUAE foreign assets inch up to US$161.22bn in June
Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) has revealed that its total foreign assets increased to...According to the apex bank, foreign securities were down to $45 billion from $46.56 billion at the end of June,, with other foreign assets up to $17.27 billion
The monetary base, according to the CBUAE, grew by 0.1%, climbing from $169.20 billion at the end of May 2023 to $169.42 billion at the end of June 2023
Sukoon Insurance sets up OIWSS
Aim is administration of Employee Money Purchase schemes.OIWSS has established a partnership with Intertrust Group.
OIWSS will be the trustee and the operator of this scheme
$61bn Broadcom-VMware merger cleared
The merger is expected to be completed by the end of Oct.The Competition and Markets Authority last month gave its provisional approval to the deal announced in May 2022.
The CMA found that restricting product interoperability would cause the merged company greater financial losses than gains.
Soniqs wins PUBG Global Series 2 Crown
It claimed $600,000 prize at Gamers8 - The Land of Heroes.Saudi team Twisted Minds came in second and earned US$260,000.
Question Mark, the Russian team, finished third and got US$162,000.
Dubai International Chamber event explores trade ties China’s Wuxi
Dubai, UAE - Dubai International Chamber hosted a B2B event during the Wuxi – Dubai Economic & Trade Exchange Conference...Dubai International Chamber organized a trade event in partnership with Wuxi Municipal Government and Wuxi National High-Tech Industrial Development Zone.
The event included 13 Chinese multinational companies specializing in areas including advanced technology, biomedical and healthcare equipment.
DEWA files patent for energy liquid
The liquid enhances efficiency of energy storage systems.The novel liquid is an effective and safe solution for energy storage systems operations, notably lithium-ion batteries and fuel cells.
DEWA chief Al Tayer said the patent supports its commitment to promoting energy security and sustainability.
Bahrain Central Bank’s $185 million treasury bills oversubscribed
Manama, Bahrain – This week’s BD 70 million ($185 million) issue of Bahrain Government Treasury Bills has been oversubscribed by...The bills, carrying a maturity of 91 days, are issued by the Central Bank of Bahrain, on behalf of the Bahrain government .
The approximate average price for the issue was 98.395 percent with the lowest accepted price being 98.261 percent.
Generative AI likely to supplement than destroy jobs: ILO
Geneva, Switzerland -- Generative Artificial Intelligence (AI) is more likely to augment than destroy jobs by automating some tasks rather...An International Labour Organization (ILO) study has found most jobs and industries are only partly exposed to automation and are more likely to be complemented by Generative AI.
It suggests this new wave of technological transformation could offer important benefits for developing countries.
European stocks rise, China rate cut fails to ease worries
European stocks rebounded but Asian markets ended mixed after a Chinese rate cut failed to reassure investors. At midday, Paris...There are concerns that the US Federal Reserve could raise interest rates further and keep them elevated for longer.
Focus turns this week to a symposium of top central bankers and business leaders at Jackson Hole, Wyoming, with dealers hoping for guidance on rates.
Abu Dhabi Chamber inks MoU with Ethiopian Investment Commission
ABU DHABI, UAE - The Abu Dhabi Chamber of Commerce and Industry has signed a Memorandum of Understanding with the...The MoU also aims to establish a framework for cooperation that advances trade, investment and economic relationships between the UAE and Ethiopia.
The signing of the MoU was held on the sideline of the UAE delegation's visit to the Federal Democratic Republic of Ethiopia.
