OpenAI reveals new GPT-4o model that is faster and free for all users
OpenAI on Monday launched a new AI model and desktop version of ChatGPT, along with an updated user interface, the...
Business
SAIB profit jumps 17% in 2023
Business
WEF24: The story of Africa is being reclaimed
World Economic Forum
Audi’s sustainable Middle East luxury drive
The Arab countries are experiencing a significant surge in the adoption of electric vehicles (EVs), particularly favoring premium models, says...
Business
Business
FGCC Chambers to hold GCC-Egyptian Business Forum in Saudi Arabia
AL-KHOBAR, SAUDI ARABIA - The Federation of Egyptian Chambers of Commerce (FEDCOC) is scheduled to host the first Gulf-Egyptian Business...
- The forum will address the most important economic and commercial issues.
- Gulf and Egyptian officials and entrepreneurs are slated to attend the forum.
Business
Saudi Arabia to continue voluntary oil cut until end of Dec 2023
Riyadh, Saudi Arabia -- Saudi Arabia has announced it will continue the voluntary cut of one million barrels per day,...
- Riyadh, the world's biggest crude exporter, first announced its cut after a June meeting of the 23-nation OPEC+ alliance, which also includes Russia.
- That decision riled the United States, which at the time accused Saudi Arabia, a security partner, of siding with Russia in the war in Ukraine.
Business
American defense companies firm on attending Dubai Airshow
Washington DC, United States -- In spite of escalating instability in the Middle East, several American defense firms have reaffirmed...
- The Dubai Airshow, to be held at Maktoum International Airport in the United Arab Emirates, is a biennial event and ranks among the world's most significant aerospace exhibitions.
- L3Harris told Breaking Defense, "We're monitoring current events like all our industry peers and have not scaled back our planned attendance."
Business
UAE ministry issues guidebooks on Emiratization for employers, employees
DUBAI, UAE - The Ministry of Human Resources and Emiratization (MoHRE) has launched awareness guidebooks for private sector companies and...
- The awareness guidebook for Emiratis working in the private sector covers 11 topics
- The awareness guidebook for the private sector companies covers nine topics.
Business
Musk teases AI chatbot ‘Grok,’ with real-time access to X
The social network that Musk bought a year ago launched the Premium+ plan last week for $16 per month, with...
- Musk, the tycoon behind Tesla and SpaceX, said the link-up with X, formerly known as Twitter, is "a massive advantage over other models" of generative AI
- "Grok" comes from "Stranger in a Strange Land," a 1961 science fiction novel by Robert Heinlein, and means to understand something thoroughly and intuitively
Business
Global assets in spot bitcoin ETFs hit US$4.16 billion
Dubai, UAE--Global assets invested in exchange-traded funds (ETFs) tied to the spot price of bitcoin now total US$4.16 billion, showed...
- Around half of that sum, or $2 billion, is invested in the seven spot bitcoin ETFs that have been launched in Canada since 2021
- Regulators in the United States are currently considering as many as 10 applications to launch similar spot-based ETFs in the U.S
Business
UAE charges ahead in global electric vehicle readiness
The Gulf country's ascent to the top of regional EV preparedness rankings and seventh position globally marks a significant stride...
- The Gulf country's ascent to the top of regional EV preparedness rankings and seventh position globally marks a significant stride towards its 2050 carbon neutrality goals.
- With EV Green Charger initiative expanding the charging network and 82% of residents considering EVs for next vehicle, the nation is driving forward sustainable transportation.
Geostrategy
Don’t pause Mideast de-escalation over war, says UAE official
Dubai, UAE - Middle East powers should maintain their push to de-escalate the region through trade and economic ties despite the...
- According to UAE presidential adviser Anwar Gargash, countries should maintain that strategy even though the war is sending shockwaves through the region.
- "National actors are basically trying to use economics as a way to de-escalate tension," Gargash told the World Policy Conference in Abu Dhabi,
Business
QatarEnergy inks second 27-year gas supply deal with China’s Sinopec
DOHA, QATAR - Qatar has agreed to supply Sinopec with natural gas for 27 years, the Gulf emirate's state-owned energy company said...
- Doha will supply three million tonnes of gas a year to Sinopec under the deal.
- Asian countries led by China, Japan and South Korea are the main market for Qatar's gas.
Science
Global energy meet discusses way forward to net-zero emissions
VIENNA, AUSTRIA – High-level representatives from the member states of the United Nations Industrial Development Organization (UNIDO), international organizations, experts...
- The two-day forum showcased innovative technologies and transformative solutions to accelerate low-emission, climate-resilient development.
- The international event aimed to foster new partnerships to scale up investments and technology transfer to developing countries.
OpenAI reveals new GPT-4o model that is faster and free for all users
OpenAI on Monday launched a new AI model and desktop version of ChatGPT, along with an updated user interface, the...
Business
Company News
SAIB profit jumps 17% in 2023
Business
WEF24: The story of Africa is being reclaimed
World Economic Forum
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Exxon Mobil posts bumper profit
Business
AD Ports Group, KPT ink pact
Business
Dubai to host the world’s biggest ‘airport industry show’ in May
Dubai, UAE-- In the month of May scores of airport developers, officials, and suppliers from around the world will troop...
Saudi tech firm Alat to ally with Softbank, Carrier Corp, Tahakoum, Dahua Tech
Riyadh, Saudi Arabia - Alat Company, a subsidiary of the Saudi Public Investment Fund (PIF), has announced four global partnerships...
Business
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Business
Crypto crimes rise in GCC amid digital currency boom
The GCC is at a critical juncture, facing the dual challenge of embracing blockchain innovation while combating crypto crime, says...
- The Gulf region is at a critical juncture, facing the dual challenge of embracing blockchain innovation while combating crypto crime, says Nicola Buonanno of Chainalysis.
- Crypto crime encompasses activities from theft and scams to money laundering and ransomware attacks, all orchestrated to exploit cryptocurrencies for illicit gains, he adds.
Business
Walmart to buy TV maker Vizio
The acquisition of the TV maker is worth $2.3 billion.
- With the all-cash purchase, the US shopping behemoth gains access to Vizio's more than 18 million accounts.
- Vizio is known for what Walmart called "immersive entertainment" through a "customer-centric platform".
Economy
Oil may rise to $100, gold to hit $3,000 by 2025, says Citi
ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...
- Analysts say gold is currently trading at $2,016 and could surge by about 50 percent if central banks dramatically increase purchases.
- Another factor that could drive gold prices is the global economy's deep recession, which could prompt the Federal Reserve to cut rates rapidly.