OpenAI denies Musk’s ‘betrayal accusations, plans legal dismissal
OpenAI captured the public imagination in late 2022 with the release of its chatbot ChatGPT, which can generate poems and...
Business
Iraq stresses balance in energy market ahead of Dec OPEC meeting
Iraq's oil Minister Ihsan Abdul-Jabbar has said that Iraq has worked on a vision that emphasizes the importance of finding...
- Iraq's National Oil Marketing Company says it does not see necessity of any decision on increasing oil production.
- OPEC + has decided to maintain the monthly increase rate of 400,000 barrels in December.
Business
Kuwait to adopt rules allowing players to dedicate more time to games
Director-General of the Kuwaiti Public Authority for Sport Humoud Flaiteh has said that new sports rules will be adopted soon,...
- Distinguished individual athletes representing Kuwaiti national sports teams are also entitled to the same status in line with the imminent regulations.
- The rules are just a step towards the application of professional athleticism in the country, a minister said.
Market Report
Omicron batters indices across MENA
Stock markets across the MENA region suffered losses on Sunday as dip in oil prices and mounting concern over ‘Omicron’...
- The Saudi stock market's main index falls by more than 5% to 10,700 points
- The Abu Dhabi Stock Exchange index (ADX) drops by 2.6% to 8230 points
Business
Saudi Arabian dunes to host Dakar Rally 2022
The Dakar rally will be raced across the daunting deserts of Saudi Arabia again in 2022 with organizers on Sunday...
- The January 1-14 endurance test will be a third Dakar rally in Saudi Arabia
- The landscape and backdrop of the course is similar to the last edition, and it begins and ends after 12 stages in the port city of Jeddah
Videos
Why are global freight rates so high?
As the world looks to pare inflation, it is facing headwinds from the high freight rates currently prevalent all across...
- The global shipping industry suffered like every other industry in 2020 due to the Covid-19 pandemic
- It was expected to bounce back like all of them, and thereby spearhead the global economic recovery
Business
Saudi Arabia hosts region’s biggest cybersecurity event
It will be held at Riyadh Front, one of the entertainment zones for Riyadh Season 2021.
- The @Hack event is considered the biggest cybersecurity conference in both Asia and Africa, and registration is free of charge
- It is expected to be help the SAFCSP achieve the goal of having one programmer out of every 100 Saudis by 2030
Business
Big WTO conference postponed due to new Omicron variant
The Omicron variant of Covid-19 has led to travel restrictions, which has forced the WTO to postpone the ministerial conference...
- The meeting was the World Trade Organization ministerial conference, the global trade body’s biggest gathering in four years
- It has been cancelled a second time as it was originally scheduled for June 2020
Business
Saudi PIF aims to invest $1.1 trillion by 2025
The Public Investment Fund, which seeks to lessen the Kingdom's reliance on oil as part of Vision 2030, eyes both...
- PIF owns a 62.72 percent stake in Lucid Electric Vehicles Company, which has a current market value of $71 billion
- More than 331,000 people in Saudi Arabia have found work due to the Fund establishing 26 local businesses and assets
Business
Qatar Airways stops Africa flights
It has stopped flights to South Africa, Zimbabwe, and Mozambique.
- The cities affected are Johannesburg, Cape Town, Durban, Harare, and Maputo
- The restriction on travelers and flights will reportedly remain same until further notice from the WHO
Business
Siemens lands UAE deal
This partnership is expected to support UAE Industry 4.0.
- The program, overseen by MoIAT and Siemens, will address a broad range of topics
- The aim is to accelerate the transformation of the manufacturing sector towards industry 4.0 in the UAE
OpenAI denies Musk’s ‘betrayal accusations, plans legal dismissal
OpenAI captured the public imagination in late 2022 with the release of its chatbot ChatGPT, which can generate poems and...
Company News
Latest News
Classic cars back on the road – in Gaza City
Around 2.3 million Palestinians live in the territory, which has been under a crippling Israeli blockade.
Egypt reports drop in unemployment rate in Q2 of 2023
Cairo, Egypt--Egypt's unemployment rate fell slightly by 0.1 percent to 7 percent in the second quarter of 2023, according to...
Economy
Chip giant Nvidia rides AI wave as profits soar
The company's stock rose more than 8 percent following the results. This year the company's share price has more than...
Business
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Business
DIEZ reports 5% rise in revenue
The company logged a 34% surge in EBITDA.
- The organization also achieved a 10% growth in revenue from leasing operations, a 36% growth in revenue from government services
- DIEZ’s three economic zones, the Dubai Airport Free Zone DAFZ, Dubai Silicon Oasis and Dubai CommerCity achieved a combined 17% growth
Business
Vietnam shoemaker to cut 1200 jobs
PouYuen Vietnam employs an estimated 40,000 workers.
- It announced in May almost 6,000 workers with permanent contracts would be laid off, after letting go almost 3,000 permanent staff in February.
- That came after PouYuen put 20,000 of its workers on paid leave in rotation last year.