Invest Qatar launches azure open AI GPT-powered chatbot ‘Ai.SHA’
DOHA, QATAR - The Investment Promotion Agency Qatar (Invest Qatar) has partnered with Microsoft to develop Ai.SHA, an innovative AI-powered...Business Science Tech & Media
AIQ and Baker Hughes to develop solutions for oil industry
AIQ Â and Baker Hughes have entered into an agreement to develop advanced analytics solutions for the global oil and gas...The initial project work will focus on developing AI solutions, analyzing drilling data and identifying opportunities for improved drilling trajectories
The project supports ADNOC’s plans to efficiently ramp up drilling activities as it boosts its crude production capacity to 5 million barrels per day by 2030
Alibaba’s profit falls 81% as China cracks down on big tech
Chinese e-commerce leader Alibaba Group said on Thursday that its profit for the most recent quarter tumbled 81 percent as...Alibaba said profit came in at 5.37 billion yuan ($833 million) for the July-September period, falling from 28.77 billion yuan earned over the same stretch last year
However, its revenue for the period also slightly missed forecasts by analysts polled
Etisalat to acquire elGrocer DMCC
The acquisition will support the telecom giant's digital ambitions.This partnership will empower consumers, enhance engagement, and drive diversification of our business, said Etisalat.
UAE is rated as one of the most advanced countries for online shopping and eCommerce market in the MENA region.
‘GCC may avoid NMCs, Abraajs with robust norms’
The region’s financial regulators must be extra vigilant to avoid catastrophic debt crises, Khalid Abdulla-Janahi, chairman of Vision 3, UAE,...Strong corporate governance framework is an integral part of ensuring clean flow of money and the GCC region is yet to make some improvements, says Khalid Abdulla-Janahi
The companies in the region should have independent board members and directors with fixed term role to ensure high level of corporate governance, the Vision 3 chief adds
EDGE and Israeli firm to set up electro-optics center in UAE
EDGE and Israel Aerospace Industries (IAI) have agreed to establish a maintenance center for a selection of IAI's systems in...Omar Al Zaabi, Senior Vice President Head of Program Acquisition at EDGE and Boaz Levy, President and CEO of IAI, signed the agreement during a ceremony at the 2021 Dubai Airshow
In addition to maintenance, the centre will advance local marketing of these systems
ADNOC Logistics and AD Ports to build a port and logistics facility at TA’ZIZ
ADNOC Logistics & Services (ADNOC L&S) and AD Ports Group have signed an agreement to develop a new port and...The facility will be a critical part of the supply chain for feedstocks and will store and load final products for export.
The partners will select an international operator to enter into a new joint venture and contribute to the development of the new port.
Where does Saudi Arabia’s PIF invest most?
The kingdom's sovereign wealth fund is critical to its economic goals as it channels returns from foreign investments into non-oil...The Saudi Public Investment Fund raised its US-listed stock holdings to $43.4 billion in 2021 Q3.
The PIF is one of Lucid's most notable investors, owning approximately 62.7 percent of the company's shares.
Airfares drop sharply in Kuwait after the opening of International Airport
Airfares to some destinations from Kuwait have dropped by 50 to 200 percent after operations at Kuwait International Airport resumed...Airfares on some destinations such as Turkey, Egypt, France, and Germany dropped by more than 50 percent .
Cost of travel to the UAE, Britain, India, and the Philippines have remained high compared to the airfares before the outbreak of the Covid-19 pandemic.
Saudi Arabia sets up $187m solar panel factory in Tabuk
Saudi Arabia has set up a $186.6 million worth solar panel factory in the Tabuk Industrial City to cater to...Spread over more than 27,000 square meters, the factory will have an estimated production capacity of 1.2 gigawatts
The new Tabuk facility uses automated machines for its production, and employs latest international technologies in the field
ADNOC awards $1.46 billion EPC contracts for Dalma Gas Dev Project
The two EPC contracts, awarded to National Petroleum Construction Company (NPCC) and a joint venture (JV) between Técnicas Reunidas and...The Dalma field is part of the Ghasha Concession which is the world’s largest offshore sour gas development and an enabler of gas self-sufficiency for the UAE
Both engineering contracts are expected to be completed in 2025 and will enable the Dalma field to produce around 340 mmscfd of natural gas
