OpenAI denies Musk’s ‘betrayal accusations, plans legal dismissal
OpenAI captured the public imagination in late 2022 with the release of its chatbot ChatGPT, which can generate poems and...Business
Virgin Galactic to restart commercial space flights after two years
Unlike other companies that use vertical-launch rockets, Virgin Galactic uses a carrier aircraft that takes off from a runway, gains...The Unity 25 mission will take place in late May with four company employees on board, said Virgin Galactic, which was founded by British billionaire Richard Branson.
Unity 25 will be the company's fifth trip into space, defined as 50 miles (80 kilometers) above sea level. Virgin's flights launch from Spaceport America in New Mexico.
DEWA Q1 profit $207.8m
Growth in revenue driven by surge in demand for electricity, water.By the end of Q1 2023, DEWA served 1,169,713 customers, representing an increase of 12,212 customers from Q4 2022.
Quarterly revenue growth for electricity, water and cooling services increased by 7.2 percent, 7 percent and 4.6 percent respectively.
Natural capital, conservation should be priority for private sector in region
DUBAI, UAE - The private sector and financial institutions in the Middle East should enhance reporting by including information about how...The report indicates that almost half of the Middle East's GDP is either highly or moderately dependent on the environment.
Middle East faces a number of environmental challenges specific to the region, including scarce water resources and desertification.
Jordan’s food companies to show off products at Canada fair
Amman, Jordan-- With an eye on boosting its exports to North America, a range of companies from Jordan will showcase...Jordan Exporters Association in a statement said that the kingdom's enterprises will network with customers from Canada and other countries at the fair
JEA President Ahmed Khodari said industrial exports play a vital role in advancing the country's economy by boosting output and growing existing investments
Iran’s exports touch US$50bn, break record: Raisi
Tehran, Iran--The 13th government has been able to export goods worth more than $50 billion since taking office, breaking the...The president speaking at the fifth Export Potential Exhibition of the Islamic Republic of Iran applauded the country's achievements in medical and health sectors
He said that in spite of obstructions created by "enemies" to hinder Iran's military, nuclear, and scientific goals, it had succeeded in building defense and nuclear industries
Saudi Arabia looks to widen trade and investment ties with Italy
Riyadh, Saudi Arabia--Saudi Arabia is keen to deepen trade and economic ties with Italy from the current volume of trade...The Saudi delegation held meetings with Italian officials and government and private agencies to discuss ways to boost the volume of trade and investment
The visiting investors took part in the Saudi-Italian Business Forum in Milan, attended by 300 business owners and representatives of government agencies
QGIRCO reports Q1 profit drop
The insurance firm's net profit fell to US$12.36 million.Its earning per share amounted to QR 0.051 as of March 31, 2023 as against QR 0.068 for the same period in 2022
The insurance company also reported a profit drop in the third quarter of 2022, compared to the same period in 2021
Iraq, Iran sign MoU to build railway track linking two nations
The railway track will connect Iran's southwestern town of Shalamcheh with Basra in Iraq in what will be the first...The laying of railway line has been long in the making, with two MoUs having been signed in 2011 and 2013, but the project was halted due to legal and economic problems
Considered to be a strategic event in the region, the new MoU came about after the current governments of the two countries evinced a renewed interest in the project
MENA region startup funding falls to 2018-19 levels
Factors contributing to the slowdown include the aftermath of SVB crisis, Eid and Easter holidays, and the global decrease in...Factors contributing to the slowdown include the aftermath of SVB crisis, Eid and Easter holidays, and the global decrease in investment in tech startups due to Ukraine war
Despite the decline, two deals worth US$35 million each were announced in May, indicating a potential slowdown rather than a complete lack of investment in the region
Dubai real estate sector strengthens on investors’ confidence
The present market conditions indicate that investing in real estate assets, especially in beachfront destinations, is opportune. These destinations are...Despite global crises, the emirate's thriving market, dynamic economy, favorable government policies, and robust infrastructure entice both local and international investors
Beachfront destinations are expected to drive significant growth in the sector as the UAE's real estate serves as a hedge against inflation and a safe haven investment
