Meta chief discusses AI risks with Japan PM during Asia tour
The 39-year-old mixed business with pleasure while in Japan, going skiing with his family and learning about sword-making from a...
Business
Economy
Saudi index reaches new highs on oil price rise
The oil price rise is expected to raise the economic growth of Saudi Arabia and the UAE. The kingdom is...
- Qatar Stock Exchange upwardly revised 0.1 percent on Thursday, aided by a 3.5 percent increase in Nakilat shares.
- Egyptian Stock Exchange ended its sessions on Oct. 20 with a collective decline of indices for the second consecutive session.
Business
Abu Dhabi launches virtual license for non-resident foreign investors
Non-resident foreign investors can obtain a virtual license for doing business in Abu Dhabi from any location outside the UAE...
- Investors can obtain the license from any location outside the UAE and without having to meet residence procedures.
- The license covers 13 economic sectors on top of the strategic sectors targeted by the Abu Dhabi government to attract Foreign Direct Investment.
Business
DEWA signs several digital tech agreements at GITEX 2021 stand
Dubai Electricity and Water Authority (DEWA) signed a slew of MoUs with local and international companies at the ongoing GITEX...
- The MoU with Etisalat is aimed at speeding up the digital transformation using Etisalat’s MobileHub platform.
- Digital DEWA subsidiary sInfraX has partnered with WoM Technologies for its planned rollout of the first-ever Low Power Wide Area Network wireless Internet of Things.
Economy
Turkey cuts interest rate for second successive month despite soaring inflation
Turkey's central bank cut interest rates for the second successive month on Thursday in what economists interpreted as confirmation of...
- The central bank has blamed rising inflation on "transitory" factors that will dissipate with time.
- The lira extended its fall into record-low territory against the dollar and euro after the announcement.
Business
ACWA Power plans to stop investing in non-renewable projects: CEO
ACWA Power has said it plans to end investment in non-renewable projects in its endeavor to reach net zero by...
- ACWA holds a one-third stake in the massive $5 billion Neom futuristic city project, which will be powered entirely by solar and wind.
- The company, 44 percent owned by PIF, will be "very selective" about the type of gas-powered plants, says CEO
Business
QatarEnergy partners for UK project
This is QatarEnergy and Shell’s first hydrogen agreement.
- QatarEnergy and Shell have signed an agreement to pursue joint investments in blue and green hydrogen projects in the UK
- It apparently establishes a framework for collaboration and joint investment to develop hydrogen solutions in the UK
Business
TAQA lands Aramco water project
The project will be used to make power and desalinate water.
- The Abu Dhabi National Energy Company or TAQA will develop a greenfield cogeneration power and water desalination project in Saudi Arabia
- TAQA will do this along with the Marubeni Corporation for Saudi Aramco
Business
New Zealand passes law to make banks report climate impact
New Zealand has passed a law that will force banks to reveal the impact of their investments on climate change....
- New Zealand’s Climate Change Minister James Shaw said the law was meant banks, insurance companies, and investment firms
- He said it would require them to make mandatory disclosures about their portfolios' global warming record from next year
Business
Trump launching new social media network called ‘TRUTH Social’
The long-awaited platform will be owned by Trump Media & Technology Group.
- The long-awaited platform will be owned by Trump Media & Technology Group
- The platform also intends to launch a subscription video on-demand service
Business
Augmented reality transforms fashion retail
Customers can try on and buy entire collections of eyeglasses, lipstick, nail color, jewelry, and even garments by using augmented...
- Customers can try on and buy entire collections of eyeglasses, lipstick, eye shadow, nail color, jewelry, and even garments by using AR and VR applications
- All of this is enabled due to significant advances in facial recognition, feature tracking, and computer vision
Company News
Aramco appoints two Presidents
Business
Latest News
Cristiano Ronaldo’s goal propels Al-Nassr to win King Salman Club Cup
Taif, Saudi Arabia-- Cristiano Ronaldo led his team to victory as Al-Nassr FC won the 2023 King Salman Club Cup...
Business
Saudi home to three of top five Arab smart cities
Saudi Arabia, which has pioneered the development of smart cities in the region, plans to establish more than 200 smart...
Infographics
Cage fight with Zuckerberg will be in Italy, says Musk
WASHINGTON, US - Elon Musk said that his much-hyped cage fight with Mark Zuckerberg would take place in Italy, as authorities...
Business
Most Read
Geostrategy
US to invest $1.2 bn on facilities to pull carbon from air
The two projects -- in Texas and Louisiana -- each aim to eliminate one million tons of carbon dioxide per...
- Direct Air Capture (DAC) techniques focus on that CO2 emitted into the air, which is helping to fuel climate change and extreme weather.
- Each of the projects will remove 250 times more CO2 from the air than the largest carbon capture site currently in operation, the Energy Department said.
Arts & Culture
Riyadh to host Peace and Sport Middle East Forum in Oct
Riyadh, Saudi Arabia -- For the first time, Riyadh will host the Peace and Sport Middle East Forum, powered by...
- The forum will be held under the theme, “Sport is an answer for peace”, at the Cultural Palace in Riyadh-based Diplomatic Quarter
- The kingdom will be hosting several big sporting events as it aims to attract foreign interest as it diversifies its economy away from oil
Economy
Brazilian striker Firmino scores hat-trick on Saudi debut
Jeddah, Saudi Arabia--Brazilian forward and former Liverpool star Roberto Firmino hit a hat-trick on his Saudi Pro League debut on Friday...
- The Brazilian striker scored the goals in the 6th, 10th and 72nd minutes for the team who also fielded several new signings
- Saudi Pro League backed by the kingdom's sovereign wealth fund has lured big names from the major European leagues