UAE firms accelerate AI transformation, new report finds
The real power of AI lies in its careful deployment across diverse business functions, and the UAE is primed for...
Economy
TikTok makes AI driven ad tool available globally
San Francisco, United States - TikTok on Thursday began letting all marketers on its platform use an artificial intelligence-powered tool for...
Business
Turkish Airlines profits soar
In December, the airline ordered 230 Airbus planes.
- The airline posted revenues of $20.9 billion last year, up 13.6 percent on 2022's figure
- The airline is controlled by the country's wealth fund, which owns 49.1 percent of shares
Rising threat: DDoS attacks demand proactive defense
"Threat actors can employ artificial intelligence (AI) and machine learning (ML) algorithms to identify vulnerabilities and adapt their tactics in...
- DDoS attacks have evolved from simple nuisances to highly sophisticated and coordinated assaults, posing a significant threat to online businesses
- Today's attackers use various techniques, including amplification attacks, which exploit internet protocol vulnerabilities to multiply attack traffic, making mitigation challenging
Business
Russia becomes world’s fourth-biggest LNG producer, says PM
MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian...
- Mikhail Mishustin said that the volume of LNG exports rose almost three-fold in six years.
- In January - February 2024, natural gas production in Russia increased by 11.3 percent year-on-year.
Business
EasyLease buys stake in United Trans
This helps EasyLease expand its presence in mobility sector.
- United Trans has been at the forefront of transforming the regional transport spectrum.
- The company collaborates with major global organizations across all modes of transport.
Business
flynas receives 50th jetliner out of 120 Airbus A320neo ordered
RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the...
- The deal with Airbus was a strategic step for flynas, consolidating its position as a leading low-cost airline in the Middle East.
- The company is moving forward in its plan to double the fleet size after getting approval to purchase 250 aircraft.
Business
Iran-Turkey trade expands to US$930m in first two months of 2024
Tehran, Iran--The trade exchanges between Iran and Turkey in the first two months of 2024 reached $930 million, showing a...
- According to a report, Turkey’s exports to Iran in January and February reached $580 million, recording a 23 percent increase
- Turkey’s imports from Iran however registered a 22 percent decline and fell from $450m in January-February 2023 to $350m
Business
Central Bank of Bahrain Sukuk Al Ijara oversubscribed by 186 percent
Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al...
- As per reports, subscriptions worth $128.67 million were received for the $69.14 million issue, which carries maturity of 182 days
- The expected return on the issue, which begins on April 4 and matures on October 3, is 5.90%, equivalent to the previous issue
Business
Tesla reports drop in auto sales
The decline was in part due to a weak sales market in China.
- In explaining the drop, Tesla pointed to a hit from the production ramp-up of an updated Model 3 at its California factory and plant shutdowns due to shipping diversions
- Financial services firm Morningstar said the decline also "points to a slowdown in demand for Tesla's vehicles, as the company's competitors may have cut price more than Tesla
Business
FAB, Microsoft forge partnership
The two will work to develop AI-based banking capabilities.
- The new AI Innovation Hub will focus on innovation, sustainability, and customer experience
- It will accelerate the adoption of new innovations and AI technology into financial services
Google to delete incognito search data
The suit filed in June of 2020 sought US$5bn in damages.
- The lawsuit, filed in a California court in June 2020, claimed Google's practices had infringed on users' privacy by intentionally deceiving them with the incognito option
- The settlement calls for no cash damages to be paid but leaves an option for Chrome users who feel they were wronged to sue Google separately to get money
UAE firms accelerate AI transformation, new report finds
The real power of AI lies in its careful deployment across diverse business functions, and the UAE is primed for...
Economy
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2024 Crypto Crime Update Part 2: China-based cybercrime networks on the rise
In part 1 of our mid-year crime update, we discussed trends related to ransomware and stolen funds. While aggregate illicit...
Nvidia’s forecast dampens AI enthusiasm in other tech stocks
Shares of Nvidia and other technology heavyweights fell late on Wednesday, a discouraging sign for investors betting that a strong...
Durov: Father of 100 children is a mysterious and controversial Telegram founder
Paris, France - Russian-born tech entrepreneur Pavel Durov has founded wildly popular social networks, cryptocurrencies, amassed a multi-billion-dollar fortune and locked...
Business
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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...
- Kuwait has been boosting its reliance on imported gas to meet power demand
- Qatar this year announced a further expansion of its North Field project
Business
ExxonMobil expects global oil demand near current levels in 2050
New York, United States - Global oil demand is unlikely to fall by 2050 despite progress on renewable energy, the US...
- In a new report, ExxonMobil said it "sees a plateau in oil demand beyond 2030, remaining above 100 million barrels per day through 2050."
- This would be roughly in line with oil demand last year of 102.2 million barrels per day, according to the International Energy Agency
Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...
- Oil prices climbed 0.8% after Israel and Hezabollah traded rocket salvos
- The dollar slipped a further 0.5% to 143.64 yen, having fallen 1.3% on Friday