UAE leads global charge in generative AI adoption
With 40 percent of UAE workers already exploring generative AI, the nation stands as a beacon of tech adoption, far...Business
Michelin posts record operating profits
Sales at the French firm dipped last year to US$30.5bn.Business
Oil uncertainty may stay for next five years: ExxonMobil CEO
ExxonMobil has taken a 6.25 percent stake in the expansion of Qatar's North Field, which contains the world's biggest natural...Energy markets have been roiled by the Ukraine war as Russia has reduced some exports and faced sanctions.
The CEO was speaking ahead of ExxonMobil's unveiling as the 4th global partner for Qatar's natural gas expansion.
Twitter deal still in limbo due to fake accounts: Elon Musk
Business magnate Elon Musk said Tuesday that his $44 billion move to take over Twitter remained held up by "very...Musk was reluctant to talk about the deal when asked at the Qatar Economic Forum, saying it was a "sensitive" matter.
Musk said he wanted to get 80 percent of the North American population and half the world's population onto Twitter.
Leadership supports growth of UAE as global manufacturing hub: Minister
UAE's Minister of Industry Dr Al Jaber said at the 'Make it in the Emirates' Forum that the national industrial...The national industrial strategy will leverage the UAE's competitive advantages to build a strong industrial sector
The strategy will help the country develop a diversified, self-sufficient and sustainable economy
UAE, Israel export credit agencies to back Ghana healthcare project
Etihad Credit Insurance (ECI) and Israel Export Insurance Corporation have entered into an agreement under which ECI will provide buyer’s...The project involves construction of four healthcare facilities in Ghana, including a general hospital in the country's largest port city, Tema.
The agreement is related to the first Public-Private Partnership project between the UAE and Israel after the signing of the historic Abraham Accords in September 2020.
Dubai eateries earn Middle East’s first Michelin stars
Created in 1900 by the brothers Andre and Edouard Michelin of the tyre company Michelin for motorists, the guide has...Two restaurants were given two-star ratings, another nine gained one star and 14 received the Bib Gourmand for value-for-money gourmet fare.
Sixty-nine restaurants serving 21 types of cuisine were listed, including Italian, Japanese, Arabic, French and Indian.
Three companies to buy Masdar stakes
TAQA, ADNOC, and Mubadala enter binding agreements worth $1.9bn.The agreements will see TAQA acquire a 43 percent controlling stake in Masdar's renewables business, with Mubadala retaining a 33 percent interest and ADNOC 24 percent.
ADNOC will hold a 43 percent controlling stake in Masdar's new green hydrogen joint venture, Mubadala will retain a 33 percent interest and TAQA a 24 percent effective stake.
ADNOC signs manufacturing pacts
Identifies $19bn worth of products that can be manufactured in UAE.The agreements, which were signed at the “Make it in the Emirates Forum”, will see the UAE and international companies set up and expand manufacturing facilities in the UAE.
The local manufacturing opportunities comprise of over 100 products which will be utilized across ADNOC's full value chain.
Equities climb in Asia as calm returns after sharp sell-off
Equities rose in most cities Tuesday in Asia as some stability returned to markets after last week's upheaval, but analysts...The Fed announced a three-quarter point lift last week, after inflation data days earlier had smashed forecasts and hit a four-decade high
Tokyo, Hong Kong, Sydney, Seoul, Singapore, Wellington, Taipei, Mumbai, Bangkok and Jakarta all rose but Shanghai and Manila slipped
Abu Dhabi Chamber looks to boost trade ties with Mexico
Abu Dhabi Chamber of Commerce and Industry has held discussions with a business delegation from Mexico to boost trade ties...The Ambassador called on Emirati investors to leverage the facilities his government provides for foreign investors
The meeting discussed boosting trade cooperation and opening up new doors for economic cooperation between the two sides
Saudi crude oil exports jump to 147,000 barrels per day in April
Crude oil exports of Saudi Arabia grew 147,000 barrels per day in April to 7.38 million, a level not seen...Exports of crude rose by 2 percent in April from 7.24 million bpd in March 2022
As for the production of crude, in April it grew by 141,000 bpd to 10.44 million bpd
