Elon Musk files lawsuit against OpenAI over mission ‘betrayal’
Paris, France - Elon Musk has launched a legal case against OpenAI, the AI firm he helped to set up in...
Business
Business
Al Seer Marine net profit $666m
The net profit for the first nine months of 2020 was AED 25.40m.
- The increase in net profit was driven by a rise in income from investments and recent acquisitions.
- The company has acquired Very Large Gas Carriers for transport of LPG through its partnership with BGN International.
Arts & Culture
Turkey: ‘Eternal’ wine revives Assyrian culture
Only 3,000 or so Assyrians still live in the wider Mardin province, which is part of the historical Mesopotamia region...
- Only 3,000 Assyrians still live in the wider Mardin province, which is part of the historical Mesopotamia region where some archaeologists believe wine was invented 2,700 years ago
- Subjected to discrimination most of the Assyrians have either relocated to Istanbul or emigrated to the West, reducing their number from 700,000 to 15,000 across Turkey today
Business
Three agreements signed in Dubai for self-driving solutions
The first agreement was signed between Careem and Kiwibot to develop food and grocery delivery robots.
- The first agreement was signed between Careem and Kiwibot to develop food and grocery delivery robots
- Majid Al Futtaim and Yandex have partnered to explore the independent technology solutions to enhance the scope of the last-mile delivery of Carrefour orders
Business
Airports grouping ACI Asia Pacific calls for reopening borders
70% passenger loss is forecast for the Middle East which is reeling under lockdowns, travel, and quarantine restrictions and 56%...
- 70% passenger loss is forecast for the Middle East which is reeling under lockdowns, travel, and quarantine restrictions and 56% for the Middle East
- Airport revenues are predicted to decline by US$ 34 billion in Asia-Pacific and US$11 billion in the Middle East by the end of 2021
Business
Facebook says will shut down facial recognition system
Face recognition technology could compromise privacy, target marginalized groups, and normalize intrusive surveillance, according to critics.
- Face recognition technology could compromise privacy, target marginalized groups, and normalize intrusive surveillance, according to critics
- The news also comes as Facebook has been under intense scrutiny from regulators and lawmakers due to its platform abuses and user safety
Interview
‘Oil unlikely to hit US$100 in 2022’
The oil prices would average US$70 per barrel in 2021, Garbis Iradian, chief economist for MENA at IIF, tells TRENDS...
- Garbis Iradian, chief economist for MENA at Institute of International Finance (IIF), tells TRENDS in an exclusive interview that the prices would average US$70 per barrel in 2021
- There are expectations of the US oil production recovery in 2022, which would increase the supply easing pressure of price
Business
Zain to solidify 5G networks
Signs MoUs with Huawei, Nokia, Tata, BTAS and MSSP pact with Fortinet.
- The MoU with Huawei entails mutual cooperation for the full deployment of the 5G network within the SME sector.
- Zain's agreement with Tata Communications includes joint projects related to SD-WAN and global contact centers.
Business
Al Maryah Bank appoints advisor
Al Maryah Community Bank LLC, UAE’s first digital bank, has appointed Adeeb Ahamed as advisor to the Board Members. He...
- Al Maryah Community Bank, which started operations earlier this year, is a community oriented financial services provider
- The Board comprises leaders from diversified sectors of economy, and Adeeb’s inputs as an Advisor will help improve the bank’s strategic direction
Business
DP World and Indonesia Investment Authority plan $7.5bn long-term investment
DP World and the Indonesia Investment Authority (INA) have signed an agreement to form a consortium and working team to...
- The investments would include inland terminals, cargo parks, feeder network systems, landside transport and industrial zones.
- They will also explore collaboration with the Indonesia Port Corporations (Pelindo).
Business
Demand for films in Saudi Arabia grows, above 1,000 released in 3 years
There is a great demand from distributors for films in Saudi Arabia, which is borne by the fact that more...
- CEO of the General Commission for Audiovisual Media holds meet with Warner Bros EMEA head.
- The participants say the film industry in the kingdom will witness a 'qualitative renaissance'.
Elon Musk files lawsuit against OpenAI over mission ‘betrayal’
Paris, France - Elon Musk has launched a legal case against OpenAI, the AI firm he helped to set up in...
Business
Company News
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Maaden Q1 net profit down 81%
Business
Social media app TweetDeck placed behind paywall
The social media firm, bought by billionaire Elon Musk last year, has been thrashing around for ways to make a...
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Economy
EU provides US$24m for payment of allowances to poor Palestinian families
Jerusalem--The European Union has disbursed $24 million for the payment of social allowances to 71,162 vulnerable Palestinian families through the...
- The EU during the last 17 years has supported the Palestinian Authority with funding to ensure social allowances are extended to the poor families
- The funding from EU has been routed through the PEGASE mechanism and will help 71,162 families living below the extreme poverty line
Economy
New industrial licenses surge 17% in first year after Abu Dhabi Industrial Strategy launch
The number of new industrial Rowad permits issued in Abu Dhabi increased from 204 to 238 from July 2022 to...
- $15.36 billion in capital investments made by manufacturing facilities moved to the in-production phase over the year
- The number of operational manufacturers in the emirate now stands at 966, up from 922 manufacturers at the end of H1 2022
Business
Jordan exhorts ‘companies, institutions’ to switch to renewable energy
Amman, Jordan--Jordan is urging "companies and institutions" to switch to renewable and sustainable energy to reduce operating costs. In this...
- The kingdom's energy minister said that opportunities exist for cooperation to cut energy consumption across various sectors
- The minister noted that in order to keep pace with the global energy transiton the kingdom must benefit from the experiences of various countries