EU examines Microsoft large investment in OpenAI
Brussels, Belgium - The EU, racing to regulate the fast-moving world of artificial intelligence, said on Tuesday it has started a...Business Tech & Media
Marriott Autograph Collection in Sharjah
Two of Shurooq projects will operate under Autograph brand.Khorfakkan Hotel will be developed to cater to the needs of families and adventurers..
The other five-star development, Kalba Hotel, will be spread across a land area of approximately 60,000 sqm.
Crown Prince Salman-headed Group to develop Saudi gaming industry
Saudi Arabia has launched a group to develop its video gaming industry, state media reported Wednesday, as the kingdom seeks...Video gaming and esports have grown in popularity in the kingdom of some 35 million people, the majority of whom are under the age of 25.
Saudi Arabia's games market reached $1 billion in 2021, the highest value among the Arab countries of the Gulf.
UAE launches assessment of proliferation financing risks
The United Arab Emirates' Executive Office for AML/CFT and the Executive Office of the Committee for Goods and Materials Subject...The assessment was initiated in recent weeks and is expected to be completed by the end of 2022.
The risk assessment will cover how financial resources may be used to develop nuclear, chemical, and biological weapons.
Boeing reports $4bn loss
Boeing reported a hefty fourth-quarter loss Wednesday on mounting costs associated with the widebody 787, of which it has suspended...The US aviation giant accounted for a total of $3.8 billion in one-time expenses associated with compensating airlines for delayed deliveries
Those costs were the biggest factor in the company's $4.1-billion quarterly loss
Dubai supports expansion of financial markets in UAE : Minister
Finance Minister of Dubai Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum affirmed that his government provided all support needed...Dubai Finance Minister Sheikh Maktoum bin Mohammed bin Rashid said Dubai Mercantile Exchange (DME) was able to gain the confidence of major oil producers.
DME is located within the Dubai International Financial Centre (DIFC), a financial free zone designed to promote financial services.
Dubai Islamic Bank profit rises
Its net profits increased by 39 percent in 2021 to AED 4.4 billion.DIB is the largest Islamic bank in the UAE and the second-largest Islamic bank in the world.
The bank said it proposed to pay a dividend of 25 percent to shareholders subject to the approval of the AGM.
ADNOC is UAE’s most valuable brand for 4th year
ADNOC maintained in 2022 its position as the UAE's most valuable brand for the fourth consecutive year, according to a...ADNOC's US$12.76 billion (AED47 billion) brand value witnessed a 19 percent increase over the previous year
ADNOC ranked the first valuable brand in the UAE, the second in the Middle East and North Africa
Micrsoft startups opens second round of GrowthX Accelerator Program
Microsoft for Startups Middle East Wednesday announced it has opened a second round of applications for Microsoft for Startups’ highly...GrowthX Accelerator and Highway to 100 Unicorns are part of a strategic partnership between Microsoft and the Abu Dhabi Investment Office.
The GrowthX Accelerator brings together corporates with challenges and startups that can build field-ready solutions.
Arabian Healthcare and CommonSpirit to boost alliance
Ras Al Khaimah is taking steps to further enhance its growing healthcare sector through the continuation of an alliance between...The critical areas of collaboration with CommonSpirit will include digital innovation, training and education, clinical alignment, care coordination
Among the care centers widely recognized with clinical expertise in DHI’s US network are the Barrow Neurological Institute in Phoenix, Arizona
Emirates NBD’s profits jump 34%
Dubai's largest bank sees its net profits rising to $2.5 billion in 2021 from $1.9 billion in 2020.The bank, the second largest lender in the United Arab Emirates, said its net profits rose 34 percent to $2.5 billion, from $1.9 billion in 2020.Â
The bank has set aside $1.6 billion in impairments, covering loan losses, a 26-percent decrease from last year, due to improving economic conditions
