UAE tourism generates $12.24bn in hotel revenues in 2024: Minister
Abu Dhabi, UAE -- Hotel revenues in the UAE reached approximately AED 45 billion ( $12.24 billion) in 2024, reflecting...Business
Saudi Arabia’s travel account surplus reaches nearly $13.27bn
Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector achieved a record surplus in the 2024 travel account, reaching SAR49.8 billion...Business
Potential investors value Telegram at $30bn, says co-founder Pavel Durov
MOSCOW, RUSSIA – The Telegram is valued by potential investors at more than US$30 billion, the co-founder of the social...The US$30 billion valuation was made by global technology funds in particular, Durov said.
The Telegram will consider the sale of a portion of shares to its standing users, the businessman added.
UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...This will help enhance the competitiveness of the national maritime sector, promote its attractiveness to international investors.
This strategic expansion aims to position the UAE as the premier logistical partner for global trade and further consolidate its leadership in the lindustry.
Microsoft to train Philippine women in AI
It will partner with local schools to provide the training.In a statement, Philippine Trade Undersecretary Rafaelita Aldaba said the training could "help to bolster cybersecurity and trust in tech adoption"
Microsoft said it would roll out an AI-powered reading progress tool for around 27 million Philippine students, in partnership with Philippine education department
Xiaomi announces release date for EV
It will be its first foray into the electric vehicle sector.The Beijing-based firm announced in 2021 its planned foray into the electric vehicle sector
The announcement was accompanied by a photo of the new vehicle, first unveiled in December
UAE construction market soars to $94bn in 2023
Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of...According to a report, the growth is attributed to the increase in investments in transport and renewable energy infrastructure
The report added that residential construction captured the highest share of the UAE's construction market last year
Supply chain challenges hit Ramadan retail rush
Logistical adaptations, strategic planning, and forecasting essential for addressing the unique demands of increased consumption during Ramadan, says Aramex's Tarek...Logistical adaptations, strategic planning, and forecasting essential for addressing the unique demands of increased consumption during Ramadan, says Aramex's Tarek Abi Yaghi.
A shift towards late-night deliveries reflects changing consumer preferences, highlighting the crucial role of transparency and integrity in maintaining strong client relations.
Ford to pay US$365m in US tariff fraud case
It will settle a civil suit linked to the disguising of imported vans.Ford, which denies wrongdoing, is accused of using the scheme from 2009 to 2013 to avoid paying higher duties on Transit Connect utility vehicles
The Justice Department alleged that Ford installed "sham rear seats and other temporary features to make the vans appear to be passenger vehicles
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...The multi-billionaire unveiled Grok late last year as he attempts to catch up with OpenAI which he helped create in 2015 along with its CEO Sam Altman
He left OpenAI a few years later and last week filed a shock lawsuit against the company for breaking its original non-profit mission to make AI research available to all
Abu Dhabi launches technology investment company MGX
ABU DHABI, UAE – The Artificial Intelligence and Advanced Technology Council (AIATC) announced on Monday the creation of MGX, a...Mubadala and G42 will serve as foundational partners in the creation of the new company.
MGX will invest to accelerate the development and adoption of AI and advanced technologies.
Jafza reports 28% year-on-year growth in 2023 of new Indian companies
DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the...Over 190 new Indian businesses and a total of more than 1,500 Indian companies have set up business in Jafza.
This move aims to assist Indian businesses in accessing markets across the Middle East, Africa, and Europe.
