OpenAI says it raised $40 bn at valuation of $300 bn
San Francisco, United States - OpenAI on Monday said it raised $40 billion in a new funding round that valued...Business
Automakers lead market losses after Trump tariffs on imported vehicles
Wall Street's main indexes opened in the red, with General Motors sinking more than nine percent in early trading while...Business Economy
UAE exports 31.3m barrels of crude oil to Japan in February
Tokyo, Japan--The UAE exported 44.1 percent, namely 31.3 million barrels, of Japan's crude oil needs in February 2024, according to...Japan bought nearly 71 million barrels of oil for February and 96.7% of that came from five Arab countries
The rest of Japan’s oil imports came from Asia (0.4%), Central and South America (1.7%), and the US (1.1%)
Rotana announces the soft opening of Dar Rayhaan in Saudi Arabia
Abu Dhabi, UAE – Rotana, one of the leading hotel management companies in the region with over 100 properties in...This is in line with Rotana’s ambitious goal of launching eight properties in Saudi Arabia.
Dar Rayhaan by Rotana offers 133 keys, including 113 rooms and 20 suites,
Omantel approves cash dividend
Net profit grew by 13.1 percent compared to 2022Omantel continued to successfully implement its strategy Shift Gear despite market challenges and increasing competition.
Omantel Group revenues and profits, as the group's revenues were up by 9.7percent
Global football stars choose Red Sea destination for holiday
TABUK, SAUDI ARABIA – A few days ago, the Red Sea destination hosted several international football stars from Saudi Pro...Among the football stars were Cristiano Ronaldo, Fabinho Tavares, Roger Ibanez and Roberto Firmino.
They also engaged in various water sports and marine activities, making the most of their time.
Digital transformation fuels GCC banks’ growth
The banking sector across the GCC has demonstrated formidable growth and profitability, with Qatar leading in several key performance indicators,...Notably, Qatar National Bank (QNB), the titan among GCC banks in terms of assets, received an uplift in its long-term credit rating from A to A+.
The region has also seen a notable increase in profitability, with a significant double-digit rise of 23.1 percent, driven largely by growth in loan books.
Jordan exports pharmaceutical products worth US$874m in 2023
AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...Jordan’s pharmaceutical and medical supplies sector has succeeded in transforming into a global industry.
The pharmaceutical and medical supplies sector employ approximately 10,000 workers.
Sheikh Hamdan praises ADNOC’s efforts in using AI in production process
ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...Sheikh Hamdan toured key facilities and operations, learning about the company's efforts to leverage AI.
Sheikh Hamdan emphasized on the importance of Emirati women's participation across various sectors.
Microsoft, AI to set up data-center project
It will cost US$100bn and will include an AI supercomputer.As per a media report, Microsoft would be responsible for financing the project, which would be 100 times more costly than some of the biggest current data centers
OpenAI's next major AI upgrade is expected to land by early next year, the report said, adding that Microsoft executives are looking to launch Stargate as soon as 2028
OpenAI unveils voice-cloning tool
It can essentially duplicate someone's speech.OpenAI model called "Voice Engine" can essentially duplicate someone's speech based on a 15-second audio sample, according to the San Francisco-based company
We have implemented a set of safety measures, including watermarking to trace the origin of any audio generated by Voice Engine, OpenAI said
UAE and Kenya sign agreement to enhance digital, tech cooperation
Abu Dhabi, UAE--The UAE and Kenya have signed an investment memorandum establishing a framework for investment cooperation in digitalisation and...The cooperation between the two countries could also include developing data centre projects with a total capacity of up to 1,000 megawatts
The African country is also becoming a preferred investment destination for data centre providers, with the growing demand for cloud services
