OpenAI valued at $80bn in new deal
With this deal, the value of the firm has tripled in 10 months.Business
Tech giants sign pact against AI-made political deepfakes
Under the agreement, AI-generated content could be given a watermark or tagged in the metadata at source, although the signatories...Business
UAE adopts Ramadan working hours for federal authorities
The UAE Government on Friday announced the official working hours during the holy month of Ramadan for ministries and federal...The decision also allows federal authorities to implement flexible working and remote work systems on Fridays during the month
The rules for working from home stipulate that both employees and their work should meet related requirements
Hermes, Chanel, Louis Vuitton pause business in Russia over Ukraine war
Hermes group runs three stores in Russia, including one in the Gum department store on Red Square, and employs 60...Hermes group runs three stores in Russia, including one in the Gum department store on Red Square, and employs 60 people in the country
Chanel, which has 17 stores in Russia, said that “major uncertainty and the complexities of operating” had led it to temporarily suspend its operations in the country
Iraq’s February oil exports highest in last two years
The rate of Iraq's exports during February amounted to 3.314 million barrels per day.The rate of Iraq's exports during the month amounted to 3.314 million barrels per day
The revenues for March will be higher than the last month, based on the current market data
Volkswagen plans 2 bn euro electric car plant in Germany
The announcement of the $2.2 billion investment came on the same day Tesla got the green light from local officials...The announcement of the $2.2 billion investment came on the same day Tesla got the green light from local officials to start production at a new plant near Berlin
Volkswagen aims at dominating the electric car market by 2025 as it accelerates the pace to catch up with US pioneer Tesla
Dubai sees weeklong real-estate transactions worth $1.91bn
The total number of real-estate transactions in Dubai stood at 2,131 for the week ended March 4.
Dubai Gold & Commodities Exchange Feb trades total $13.68 bn
Dubai Gold & Commodities Exchange (DGCX) registered trades with a total value of $13.681 billion in February 2022, as global...The exchange registered a monthly Average Open Interest (AOI) of 125,206 contracts during February and saw its precious metals' portfolio lead trading activity.
DGCX's West Texas Intermediary (WTI) Futures gained traction following increased volatility in oil markets.
Dubai International Boat Show to feature 800 brands from 54 countries
Dubai International Boat Show (DIBS), which will be held from March 9 to March 13, will witness 34 launches and...This is MENA yachting industry's first international in-person event since the COVID-19 pandemic. It will run at Dubai Harbour.
The region home to 12.6 percent of global superyachts, the world's second-highest fleet-to-billionaire ratio.
Telecom Egypt reports $535m profit
Telecom Egypt has posted a net profit of $535 million for 2021, a seventy four percent jump compared to the...The rise in profit came in line with a 16 percent surge in revenues year-on-year, reaching 37 billion Egyptian pounds
The Egypt-based company also contributes to national digitization projects
Al Arabia posts $55m profit
Al Arabia, an advertising firm, has posted a net profit of $55 million in 2021, a 718 percent jump compared...Profits of the Riyadh-based firm, partly owned by media giant MBC group, soared as the advertising industry rebounded from pandemic-hit 2020
The economic recovery, along with a continued digitization push in the Kingdom, led to a 45 percent increase in revenues year-on-year to SR720 million
Smoke robs Iraq of the dream of clean energy
In the oilfields of southern Iraq, billions of cubic feet of gas literally go up in smoke, burnt off on...The flares produce vast amounts of carbon dioxide and other greenhouse gases, contributing to global warming without any economic or social benefit
Currently, only half of the three million cubic feet of gas that comes out of Iraqi oil wells each day is captured and processed
