OpenAI limits release of new model after US government request
Dubai, UAE --Â ChatGPT developer OpenAI is restricting access to its latest artificial intelligence (AI) model at the request of...
Business
Global equities, gold may extend gains in H2 2026 despite market risks: Standard Chartered
UAE and Middle East investors remain supported by stable oil markets, easing geopolitical risk premiums and strong liquidity, the bank...
Business
Interview
WEF24: Managing risks crucial amid AI advancements
AI can revolutionize work and productivity, but balanced regulation is crucial to prevent misuse, Stephen Pagliuca of Bain Capital tells...
- AI can revolutionize work and productivity, but balanced regulation is crucial to prevent misuse, Stephen Pagliuca of Bain Capital tells TRENDS at Davos 2024.
- Pagliuca highlights the US, South America, and Africa as markets with unique potential and delves into the growing sports industry as an investment prospect.
Business
Airbus and Tata to build helicopter assembly line in India
Paris, France - Airbus will build a helicopter assembly line in India with Indian conglomerate Tata, the European aircraft manufacturer said Friday....
- Airbus said the facility -- which will take two years to set up -- would be the first such operation to be run by a private group in India.
- Airbus CEO Guillaume Faury said making the helicopter in India would "unlock the true potential of the helicopter market in the country".
Business
Telegraph boss quits as UK investigates UAE-backed takeover
London, United Kingdom - The head of Britain's Telegraph Media Group has stepped down, the company announced on Friday, as the...
- TMG and parent company Press Acquisitions Limited said that chief executive officer Nick Hugh, in the post since 2017, had left his role with immediate effect
- The announcement came on the day the regulators were due to submit a review to the government laying out the potential impact of the attempted takeover by RedBird IMI
Market Report
Paris stocks hit record thanks to luxury
Europe's main stock markets shot higher, with Paris closing at a record high as shares in LVMH surged on record...
- Hong Kong stocks slumped after rallying for much of the week, as traders awaited guidance on more Chinese stimulus.
- Oil prices fell as traders banked profits from a strong week for crude.
Business
Boeing faces heat over quality control after Alaska Airlines fiasco
The Alaska Airlines episode represents the most serious operational problem for Boeing since two crashes on 737 MAX 8 planes...
- "The quality assurance issues we have seen are unacceptable," said Michael Whitaker, head of the Federal Aviation Administration
- The agency has vowed "more boots on the ground" for a comprehensive investigation of Boeing and contractor Spirit AeroSystems
Economy
US Federal Reserve’s favored inflation gauge rises before rate decision
The US Federal Reserve's favored measure of inflation ticked higher last month, according to government data published. The latest announcement...
- The closely watched "core inflation" measure, which strips out volatile food and energy costs, continued to ease.
- This will likely reassure the Fed that trends are moving in the right direction, despite the latest uptick in headline prices.
Business
Shurooq real estate sales exceed $48 million at ACRES 2024
Sharjah, UAE -- Sharjah Investment and Development Authority (Shurooq) contributed over AED 177 million to the total sales of AED...
- Shurooq said it has been continuously boosting Sharjah’s global investment appeal with revolutionary projects like Sharjah Sustainable City.
- At ACRES 2024 Shurooq showcased phase 4 of this net zero mixed-use development, selling and reserving 42 units that are valued at AED 102.5 million.
Business
Cisco identifies major AI trends for 2024
DUBAI, UAE – Developments in Artificial intelligence (AI) have been impacting businesses, governments and economies across the world. Advancements in...
- The Cisco index focuses on what organizations can do to adopt AI in 2024.
- It also says how innovators can leverage that technology to remain competitive.
Business
JADCO, EGG ink MoU on development of agriculture in Saudi Arabia
RIYADH, SAUDI ARABIA - The Ministry of Environment, Water and Agriculture witnessed the signing of a memorandum of understanding (MoU)...
- The agreement involves the transfer and localization of potato seed production techniques in the Kingdom.
- The aim of the collaboration is to support the transformation of local companies into industrial agricultural entities.
Business
Dubai records weeklong real estate deals worth $3.86 billion
Dubai, UAE -- The real estate and properties transactions valued at AED 14.2 billion ($3.86 billion) in total during the...
- A total of 312 plots were sold for AED 2.95 billion, 2,696 apartments and villas were sold for AED 5.84 billion.
- A total of 195 properties were granted between first-degree relatives worth AED 850 million.
OpenAI limits release of new model after US government request
Dubai, UAE --Â ChatGPT developer OpenAI is restricting access to its latest artificial intelligence (AI) model at the request of...
Business
Company News
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Emirates Islamic Q1 profit $394m
Business
Gulf Air orders 12 Boeing 787 Dreamliners for $4.6 billion
San Francisco, United States -- US aviation giant Boeing on Thursday signed a contract worth billions of dollars to sell...
Business
Global markets rise as Trump weighs future of Fed boss
US indices were near record highs two hours into the Wall Street session with all eyes on an incoming earnings...
Business
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Business
ADNOC shifts OMV stake to XRG
XRG is ADNOC's wholly-owned international investment company.
- This transfer, which is subject to regulatory approvals, is aligned with ADNOC’s strategy to consolidate its international growth investments under XRG.
- ADNOC is also progressing with preparation for the proposed establishment of Borouge Group International, which is set to be a top-four global polyolefins producer.
Business
China’s Baidu to deploy driverless cars on Uber
Beijing, China -- Chinese internet giant Baidu plans to launch its driverless cars on ride-hailing app Uber in Asia and...
- Uber users in these locations may have the option of choosing to ride in a fully driverless Apollo Go car after they request a trip.
- Driverless taxis are already on the roads with limited capacity in China, most notably in the central city of Wuhan.
Business
Saudi leads MENA in VC funding for H1, surpassing 2024’s full-year total
Riyadh, Saudi Arabia --Â Saudi Arabia retained the top spot across the Middle East and North Africa region in terms of...
- Saudi Arabia's H1 VC share is 56 percent of the total capital deployed in the region.
- The report also revealed that Saudi Arabia achieved a record number of 114 VC deals for the first half of 2025.