Italy begins probe into OpenAI’s new video tool Sora
ROME, ITALY – The European country's data protection watchdog - Italian Data Protection Authority - said on Friday it has launched...Business Geostrategy Tech & Media
Strong fraud detection boosts security of UAE banks
"The UAE is well positioned to further strengthen its leadership in combating fraud, with continued investment in technology, training and...The UAE's focus on digital transformation and innovation enhances fraud detection and control capabilities, says Jamal Saleh, Director General of UAE Banks Federation
Tasharuk platform plays a crucial role in detecting cyber risks while continued investment in technology and collaboration strengthens UAE's banking system, he adds
Vodafone to axe 11,000 jobs over next three years
"We will simplify our organisation, cutting out complexity to regain our competitiveness," added Della Valle, appointed CEO on a permanent...The CEO Della Valle said the company's performance was not good enough, saying that to consistently deliver, Vodafone must change
Her predecessor Nick Read stepped down in early December after a four-year tenure marked by a steep fall in the company's share price
Qatar and Bahrain to restart flights in signs of improving relations
Dubai, UAE-- Qatar and Bahrain have agreed to restart flights toward the end of the month, in a sign of...The resumption of flights between the estranged countries, according to Bahrain News Agency, falls within "the framework of the brotherly relations between the two countries
In recent months, GCC countries have patched up differences with each other and begun to focus on their economies, taking advantage of high oil and gas prices
2 million tourists visit Jordan in first quarter of 2023
Dead Sea, Jordan -- Almost 2 million people visited Jordan in first quarter of 2023, an 87.2 percent increase compared...Tourism sector is engine of economic growth in Jordan, contributing 13% of the country's GDP, tourism minister said
He explained that the sector directly employs over 55,000 people, of whom 85% are Jordanians
Iran invites UAE businesses to invest in transportation projects
Abu Dhabi, UAE-- Iran is keen to boost transportation ties with the UAE and has invited investors from the country...Mehrdad Bazrpash, Iran Minister of Roads and Urban Development, met with Sheikh Mansour Bin Zayed Al Nahyan, Vice President of the UAE in Abu Dhabi
The Iranian minister also met with Qatari Minister of Transport Jassim bin Saif bin Ahmed Al Sulaiti and both emphasized the need for expansion of relations
AD Ports Q1 revenue is $494m
The group's EBITDA also rose by 33 percent YoY.This growth is attributed to the robust performance of its Maritime, Economic Cities and Free Zones, and Ports Clusters, as well as the recent acquisitions
The Group is continuing its ambitious revenue-generating CapEx programme, spending $278 million in Q1 2023 to diversify its income streams
UAE issues decree on use and distribution of hydrofluorocarbons
Dubai, UAE-- The UAE's Ministry of Climate Change and Environment has issued a decree on the use and distribution of...Referred to as refrigerant gases responsible for intensifying global warming and depletion of the ozone layer, HFCs are categorized among greenhouse gases
The UAE has been at the front of attempts to restore the ozone layer's protective capacity since joining the Convention in 1989 and the Protocol in 1990
Demand drives up customized car markets
Popular car customizations include color changes, custom rims and tires, body kit installations, modified exhaust systems for a more aggressive...The affluent population's desire for luxury, distinction and personalized automotive experiences help the sector flourish in the Gulf region despite the global challenges
Luxury-seeking individuals craving one-of-a-kind vehicles on the road generally go for vibrant color changes, custom rims, sleek body kits and immersive audio systems
ECB fines Goldman Sachs US$7.2m for misreporting capital needs
BERLIN, GERMANY -  The European Central Bank (ECB) has fined US financial giant Goldman Sachs US$7.2 million (6.63 million euros) for...Goldman Sachs Bank Europe was found to have "breached credit risk reporting rules" in 2019, 2020 and 2021, the ECB said in a statement.
Capital ratios are key indicators of a bank's strength and ability to absorb losses in the event of market turmoil.
Dubai records over $544 million in real estate transactions
Dubai, UAE -- Dubai real estate market has recorded deals worth AED 2 billion ($544 million) on Monday, Dubai Land...The sales included 599 villas and apartments worth AED1.45 billion, and 39 land plots worth AED335.3 million.
In April, the emirate witnessed a surge of 46% in the value of real estate deals, compared April 2022, reaching $7.21 billion.
