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...Business Global Science Tech & Media
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...Business
New WEF report reveals technologies to impact world in the next five years
TIANJIN, CHINA - The World Economic Forum on Tuesday announced its annual list of breakthrough technologies with the greatest potential...The new technologies include flexible batteries, generative AI and sustainable aviation fuel.
These would be disruptive, attractive to investors, researchers, and achieve considerable scale within five years.
Lordstown sues Foxconn
The US-based electric vehicle startup also files for bankruptcy.A main supplier for Apple's iPhone, Foxconn has turned to EV production as part of its diversification and plans to make auto assembly a key part of its future growth.
Foxconn's parent company, Hon Hai Technology Group, said in a statement that it had maintained a "positive attitude" during negotiations with Lordstown.
Europe agrees tougher rules on banks to avert repeat of 2008 financial crisis
The rules will apply from January 1, 2025, two years later than the 2023 deadline agreed under the reforms.The draft law is the European Union's interpretation of the Basel III reforms of international standards on how banks evaluate credit and market risks.
They include stipulations that banks have adequate capital and liquidity. The rules will apply from Jan 1, 2025, two years later than the 2023 deadline agreed under the reforms.
Global body to fund 26 FAO projects worth $174.7m
ROME, ITALY - Building on growing momentum to tackle environmental problems by addressing the ways in which our food and...With these new projects, FAO's partnership with the GEF will have helped countries access over $1.4 billion in financing.
These 26 projects will support countries to create or improve the management of nearly 17.9 million hectares of protected areas on land and sea
Saudi Arabia’s imports from GCC states drop 15% to $1.49bn in Apr
Riyadh, Saudi Arabia -- Saudi Arabia’s imports from Gulf Cooperation Council countries fell 15 percent year-on-year to SAR 5.6 billion...Compared with March 2023, the Kingdom's imports from GCC dropped by 21 percent, or SAR 1.52 million.
The Kingdom's merchandise imports rose 1 percent year-on-year to almost SAR 57.9 billion in April.
Aquaterra gets UAE contract
Firm will deliver a complete end-to-end managed service.Aquaterra Energy will work closely alongside in-country partners to manufacture and transport the project equipment.
This will provide thousands of hours of local employment for the region, as well as opportunities for upskilling and knowledge sharing.
Dubai real estate market records highest ever first-half sales
Dubai, UAE -- Dubai's real estate market has recorded its highest semi-annual sales figures ever, with 61,000 deals worth AED...The growth rate in terms of sales value amounted to 57 percent on an annual basis during the first six months of 2023.
During June 2023, a total of 10,405 real estate sales deals with total value of AED 30.3 billion, which is the highest number ever for the month of June.
Availability of government sukuks boosts investment options for Islamic banks: Fitch
Doha, Qatar--The increasing availability of government sukuk and Islamic liquidity management tools by the Qatar Central Bank supports liquidity management...The ratings agency expects the market share to increase overall in 2023 because of high public demand and strong retail networks
Fitch believes the launch of treasury sukuk in 2022 is a structural improvement as it adds to Islamic banks' short-term liquidity tools
Top Abu Dhabi firms to attend Europe’s asset and wealth management conference
Abu Dhabi, UAE-- Prominent Abu Dhabi companies are taking part in Impower Fund Forum, the largest asset and wealth management...Set to take place in Monte Carlo, Monaco, it is considered to be the largest asset and wealth managment conference in Europe
The forum will be an opportune platform for Abu Dhabi companies to showcase their accomplishments and engage with industy players
UAE national banks provide $11bn in financing to commercial, industrial sectors
Dubai, UAE - National banks in the UAE have increased their credit financing to the business and industrial sectors by...The data reveals that the UAE banks provided a total of $201 billion to the business and industrial sectors by April 2023
Traditional banks were the primary source of credit financing for these sectors, providing $184 billion or 82.5 percent of the total
