Manufacturers pack smartphones with AI tools to boost sales
Barcelona, Spain - Smartphone makers are packing their latest devices with flashy new artificial intelligence tools such as real-time voice translation...Business
Alcoa to buy Alumina in all-stock deal
The US aluminum producer will buy Alumina for US$2.2bn.Business
Saudi Re bags A3 rating
The firm got top rating with a stable outlook from Moody's.Saudi Re said that the ratings confirm its strong brand and market position in Saudi Arabia as the sole Saudi professional reinsurer
Saudi Re has initiated the process of increasing its capital by up to SAR 445.5 million ($119 million) to strengthen its capital base
GCC and UK aim to boost trade beyond current figure of $34bn
The Gulf Cooperation Council (GCC) and the UK began negotiations in Riyadh to boost trade, which stands at $34 billion.GCC Secretary-General Nayef Falah M. Al-Hajjraf met UK Trade Secretary Anne-Marie Trevelyan to launch the trade talks
The UK is the third-largest export market for the GCC, and the new trade negotiations are expected to benefit exporters from both jurisdictions
Dubal Holding signs deal with MOIAT
The deal will foster industrial cooperation between the two.Both the parties have agreed to cooperate in developing a framework for advancing the industrial and technology sectors in line with the directives of the UAE’s leadership
Some of the projects currently being explored include Non-Recyclable Plastics to Liquid and Secondary Lead Smelter & Refinery through Recycling of Used Lead Acid Batteries
Oil prices and equities decline on recession fears
Oil prices fell Wednesday on worries over weakening demand in the slowing global economy as Federal Reserve Chief Jerome Powell...The S&P 500 finished just 0.1 percent lower, meaning it maintained most of the gains from Tuesday's heady session
Oil prices were feeling the heat from recessionary fears, with both main contracts tanking more than six percent at one point
Google first paying customer for Wikipedia’s commercial venture
Wikipedia, one of the world's most visited websites, is free to use, updated by volunteers and relies on donations to...Google said it had already made deals with hundreds of news outlets across Europe, Agence France-Presse among them.
Google has previously given money to Wikipedia through donations and grants.
Oil, stocks fall again as economic recession looms large
Surging energy costs are fueling global inflation, with official data Wednesday showing the British annual rate hitting a fresh 40-year...Oil prices were feeling the heat from recessionary fears, with both main contracts tanking more than five percent at one point.
Crude and gas prices have soared in recent months after major economies lifted pandemic lockdowns and invasion of Ukraine.
Saudi-Jordan trade value reaches $.4.4 billion riyals in 2021
The trade exchange volume between Saudi Arabia and Jordan reached 16.6 billion riyals ($4.42 billion) in 2021, compared to 11.6...Saudi Arabia invested $14 billion through 900 projects in Jordan, according to Saudi media reports.
The volume of Saudi exports to Jordan amounted to 11.6 billion riyals.
World Cup officials target ‘price-gouging’ as 1.2m tickets sold
Costs soar for the Qatari capital's limited accommodation. FIFA president Gianni Infantino said there were five million requests for tickets...Doha, with a population of about 2.4 million, is bracing itself for the huge influx of visitors. The 32-team tournament will be held at eight stadiums in and around the capital.
Qatar says there will be 130,000 rooms in hotels, apartments, cruise ships and desert camps, where there will be 1,000 tents besides shared rooms for as little as $85 a night.
A ‘small revolution’ in Iran’s pistachio trade
Abbas Emami, 88, Iran's oldest pistachio wholesaler, readies to hand his business to daughter Marjan in male-dominated trade.The pistachios are generally grown in the provinces of Kerman and Semnan.
The exports brought in the equivalent of $900 million, making the industry a sizeable contributor to Iran's economy.
UAE technology ministry, EDB and EDGE sign manufacturing pact
The UAE Ministry of Industry and Advanced Technology (MoIAT), Emirates Development Bank (EDB), and EDGE Group, one of the world’s...Under the agreement, MoIAT will support EDGE to expand global exports of cutting-edge domestically manufactured products and solutions to over 40 countries.
The agreement is in line with the UAE’s Fourth Industrial Revolution program, Industry 4.0, and aims to support growth in the defense sector.
