Qatar strikes new 15-year 3 mtpa LNG supply deal with KuwaitÂ
Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for...
Qantas half-year profits slide
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Doha Insurance net profit up
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Nvidia profit soars to US$12.3bn
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Anthropic hit with class-action lawsuit over copyright infringement
Anthropic, the Amazon-backed artificial intelligence startup, on Monday, was hit with a class-action lawsuit in California federal court over alleged...
Business
Business
Arab Union for International Exhibitions & Conferences approves 2024 plan
Sharjah, UAE--The board of directors of the Arab Union for International Exhibitions Conferences (AUIEC), operating under the Council of Arab...
- AUIEC plan for next year focuses on attracting new memberships in order to expand its network and active participation in union members' activities and events
- The union is set to organise prominent events like the Arab Industries Exhibition in the UAE and Iraq and the Conference of the Exhibition Industry in the Arab World
Tesla files recall on 2m vehicles to fix autopilot software
Tesla's Autopilot program has spurred numerous government investigations as well as media exposes focusing on misuse or vulnerabilities. The system...
- The recall affects models across Tesla's portfolio and will be addressed by an "over-the-air software remedy" typically performed remotely
- The recall covers 2.03 million Tesla vehicles and includes Models S, X, Y and 3. Authorities in Canada said they were recalling 193,000 vehicles there
Business
NEOM unveils Utamo, a $500bn project to showcase world’s mega artists
NEOM, Saudi Arabia - Saudi Arabia's $500 billion mega project, has introduced Utamo, a new art and entertainment destination set...
- Described by NEOM as "an innovative and multipurpose event and performance space," Utamo features VIP lounges and signature restaurants
- NEOM envisions Utamo as a venue where "reality and the digital realm converge," aiming to redefine entertainment benchmarks
Business
Somalia to get US$4.5bn in debt relief from creditors: IMF
The IMF said the debt relief will facilitate access to additional financial resources that will help it strengthen economy, reduce...
- Its external debt has fallen from 64% of GDP in 2018 to less than six percent of GDP by the end of 2023
- The IMF said that Somalia has implemented a poverty reduction strategy for at least a year
Business
ADX signs MoU with SZSE
The agreement will bolster cross-border ETF cooperation.
- ADX is looking to enhance ties with with leading global financial institutions, including the recent agreement with the New York Stock Exchange
- The agreement between the two bourses is set to provide a robust platform for financial growth and connectivity between the UAE and China
Business
Andalusia Labs secures $48m funding
The company deals in risk management infrastructure for digital assets.
- Silicon Valley venture capital firm Lightspeed Venture Partners led the round with participation from Mubadala Capital
- Andalusia Labs is a collection of leading technology solutions addressing the security challenges prevalent in the blockchain industry
Business
GCC media outlets think outside the box to stay afloat
Reeling from a calamitous drop in advertisement revenues and public trust, news media organizations are reworking strategies to create "niche"...
- Many believe news media outlets have been distracted from their role to safeguard space for informed debate on public issues
- Several well trusted media outlets with deep pockets are battling against thinning revenues and being forced to think differently
Business
OpenAI to pay Axel Springer to use journalism in ChatGPT
Berlin, Germany -- Axel Springer said Wednesday it was partnering up with the maker of ChatGPT, OpenAI, which will pay the...
- The chatbot's answers would include material otherwise kept behind a pay-wall and offer "links to the full articles for transparency and further information," they said.
- Axel Springer CEO Matthias Doepfner has previously warned that AI threatened to "replace" journalism, while the group has been pursuing its own AI-driven ventures.
Business
Qatar records real estate transactions worth $400 million in Nov
Doha, Qatar -- Qatar reported a total of 321 real estate transactions worth QR 1.46 billion ($400 million) in November...
- Top-performing municipalities in financial value included Doha, Al Rayyan, and Al Dhaayen. Doha led with transactions worth QR 603 million.
- Mortgage transactions totaled 88, amounting to QR 3.19 billion. Al Rayyan dominated with 38 transactions, followed by Doha with 25.
Business
Saudi investors witness 40% fall in US equities trading in Q3 2023
Riyadh, Saudi Arabia -- In the third quarter of 2023, Saudi investors engaged in sell and buy transactions on US...
- This reflects a substantial year-on-year (YoY) fall of SAR 9.15 billion, equivalent to a 40 percent decrease.
- According to a report from the Capital Market Authority (CMA), this decline in trading activity by Saudi investors represents the lowest point since Q4 2019.
Qatar strikes new 15-year 3 mtpa LNG supply deal with KuwaitÂ
Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for...
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Saudi Arabia transfers 8% Aramco stake to PIF-owned firms
Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...
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Nationwide offers to buy Virgin Money
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Saudi tech show LEAP 2024 to close on ‘record-breaking’ note
Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing...
- The tech show featured hundreds of speakers, more than 600 startups, besides 170,000 participants from around 180 countries
- HONOR, Chinese consumer electronics brand, announced regional expansion plans with an investment of US$100 million
Gold, bitcoin pull back from records as US stock markets slip
On Wall Street, the Dow and the S&P 500 both finished 1.0 percent lower, while the tech-rich Nasdaq composite ended...
- Gold hit a new record of $2,140 an ounce in early trading, before giving up some of its gains to trade close to $2,128 at around 2130 GMT
- Among digital assets, bitcoin briefly hit a record high above $69,000 - beating a record of $68,991 struck in November 2021
Business
Trailblazing women transform finance in Arab world
Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.
- Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.
- The leadership of these daring females not only drives economic growth but also inspires a new generation of women to pursue careers in finance in the region.