Microsoft to train Philippine women in AI
It will partner with local schools to provide the training.Business
Musk says will ‘open source’ Grok chatbot, a rival to ChatGPT
Tech investors are increasingly in split camps on the development of AI and how the technology should advance. Companies such...Business
Coffee machines brew demand as global crises sip in
Key challenges faced by coffee equipment makers in the GCC include market competition, customer price sensitivity, and managing complex distribution...Key challenges faced by coffee equipment makers in the GCC include market competition, customer price sensitivity, and managing complex distribution and logistics networks.
Csaba Henter, General Manager of La Marzocco in the UAE, sees a rising appreciation for specialty coffee and sustained demand for premium coffee machines in the Gulf region
QCC, Setup in Abu Dhabi partner to strengthen SMEs export capability
ABU DHABI, UAE - Abu Dhabi Quality Conformity Council (QCC) has joined Setup in Abu Dhabi, a comprehensive SME enabling...The partnership will strengthen SMEs exporting capabilities by benefiting from in-depth consulting which is backed by research and expertise.
Setup in Abu Dhabi was launched by Creative Zone in 2022 with Abu Dhabi Department of Economic Development, other government and private entities.
Yanbu Cement to pay $62.93m in dividends
The cash dividend of SAR1.50 per share will be paid for H1 2023.In a Tadawul filing, the firm said the eligibility and distribution dates for the cash dividends will be 31 May and 20 June 2023, respectively.
The company had posted a net profit of SAR51 million for the first quarter of 2023, a 31 percent increase from SAR 39 million in Q1 2022.
UAE-India Business Forum discusses investment opportunities
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has embarked on a landmark trade mission to India,...The UAE-India Business Forum brought together key business leaders, government officials and industry experts from both Sharjah and Mumbai.
The trade mission's first leg commenced with the highly successful UAE-India Business Forum held in Mumbai, India's bustling commercial capital.
Saudi SEZs attract $12bn in investments since launch in April
An additional $31 billion in investments are in progress, the Special Economic Zones Investment Forum in Riyadh was told Tuesday....Saudi Arabia's Minister of Investment Khalid Al-Falih said kingdom closed deals worth SAR 285 billion ($76 billion) in 2022 across sectors ranging from agriculture to aerospace.
The Special Economic Zones Investment Forum in Riyadh was told Tuesday that an additional $31 billion in investments in the SEZs are in progress.
World at tipping point of new computer era: Nvidia chief
Jensen Huang unveiled a raft of AI-related products in his first public speech in four years at Taiwan tech trade...The new supercomputer will -- in theory -- help the tech industry as it seeks to create more AI-related products, which require more complex computing tasks.
“We're so excited that Google Cloud, Meta and Microsoft will be the first companies in the world to have access," Huang added.
DFM launches futures contract on General Index
Dubai, UAE - The Dubai Financial Market (DFM) on Monday announced the offering of futures contracts on its General Index...Trading futures contracts on the DFMGI offers investors the opportunity to access DFM’s largest and most liquid stocks.
DFMGI will provide strong diversification and hedging opportunities for both retail and institutional investors.
Advanced secures $586m loan
The five-year financing was secured by promissory notes.The Sharia-compliant financing from Alawwal Bank will be used to pay back the existing credit facilities and for financing general corporate purposes.
Advanced Petrochemical saw its first quarter net profit drop by nearly 74 percent year on year, from 164 million riyals in Q1 2022 to 43 million riyals in Q1 2023.
Sharjah’s Waste-to-Energy Project promotes renewable energy
SHARJAH, UAE - The Sharjah Waste-to-Energy Project, the first of its kind in the Middle East, has strengthened its efforts...Since its launch one year ago, the plant has increased its waste diversion rate from 76 percent to 90 percent.
The move aligns with the UAE's goal of achieving climate neutrality by 2050 and diversifying the energy mix.
Saudi Arabia’s Alinma Bank posts highest first quarter asset growth
Dubai, UAE -- Saudi Arabian Alinma Bank posted the first quarter asset growth of 19.1 percent, leading other Saudi-listed banks,...Al Rajhi Bank came second with an asset growth of 18.1 percent growth. The sector’s average growth rate stood at 11.2 percent.
In terms of deposit growth, Alinma Bank again led the way with 24.9 percent, while Bank Albilad came second with 22.5 percent.
