New York Times sues OpenAI, Microsoft in copyright clash
Through their AI chatbots, the companies "seek to free-ride on The Times' massive investment in its journalism by using it...Business
SAMA seeks public feedback on financial governance amendments
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has invited interested parties and specialists concerned with “Key Principles of...Business
Saudi Industrial Development Fund unveils three new products
The Saudi Industrial Development Fund has unveiled a set of programs and initiatives as part of its annual meeting to...The launch included a land, a logistic loan, a supply chain financing product and an industrial business incubator program
Over 60 logistic zones will be developed by 2030 to support exports, e-commerce and re-export operations
CBUAE, ADGM to cooperate in FinTech sector
CBUAE and ADGM will collaborate on the development and growth of the FinTech ecosystem in the UAE.Under the agreement, CBUAE and ADGM will enhance the collaboration under their co-sandbox program
This will enable FinTech companies to test their innovative solutions under the existing digital sandbox program
Fertiglobe IPO may raise $827m
The IPO starts Wednesday and will continue to October 18.The IPO price range of $0.66 to $0.72 implies equity valuation of $5.5bn-$6bn.
The company expects to distribute a dividend of $200 million in April 2022 for the H2, 2021.
Tunisia, Morocco hoteliers eye an end to Covid woes
Tunisia found itself on European nations' red lists, making it virtually impossible for holidaymakers from major markets including France, Germany...In a good year like 2019, Tunisia registers about nine million hotel stays, and the tourism sector accounts for up to 14 percent of GDP.
Roughly 3.5 million visitors entered Morocco by the end of August, up from 2.2 million the year before.
Apple cuts iPhone 13 output forecast on chip shortage: report
Apple is unlikely to meet production goals for its new iPhone before the holidays because of a global electronic chip...The firm will have to settle for 80m against the planned 90m iPhone 13s.
Chip shortages were affecting all parts of the industry, not just Apple, said Apple chief Tim Cook.
DP World inks deal with MAN Energy Solutions
This is the latest in the several agreements the two companies have had over the years.As a result of the agreement, both parties will now eye common progress in the field of decarbonization
The agreement is scheduled to run for five years with an option to extend thereafter
Madayn lands Oman solar deal
Madayn has signed a deal to build a 100MW solar PV farm.Oman-based Madayn has signed an agreement with Mubadrah and Solar Wadi to build a solar farm
Madayn, also known as Public Establishment for Industrial Estates, will build the farm in the Suhar Industrial City
Jarir posts $194m net profit in nine months
Q3 net profit surges 44 percent compared to Q2.The increase in net profit was attributed to a decrease in selling and marketing expenses and financing costs.
The net comprehensive income grows by about 2 percent.
ArcelorMittal arm buys Sharjah mill
ArcelorMittal Projects is a part of the ArcelorMittal Group.ArcelorMittal Projects has also leased 1.38 million sq ft of industrial land in the zone
The entire transaction, to be concluded in two phases, has a price tag of AED90 million ($24.51 million)
DP World and UK’s CDC Group to create Africa investment platform
DP World will contribute its stakes in three existing ports and invest $1 billion over the next few years through...DP World will contribute its stakes in three existing ports and invest $1bn over the next few years.
CDC is committing $320 million initially and a further $400 million over the next several years.
