Saudi, Qatar airlines adjust flights as regional tensions disrupt travel
Dubai, UAE -- Airlines has extended the suspension of flights to several Gulf destinations as regional tensions continue to affect...
Geostrategy
Business
Iraq father begins legal action against BP over son’s cancer death
Rumaylah, Iraq - Hussein Julood is taking legal action against British energy giant BP after he lost his son to...
- The bereaved father, who lives near the Rumaila field in the southern province of Basra, is demanding that the firm compensate him for his son Ali's medical expenses
- He said no amount of money would make up for his son's death. But "what I am claiming is my right", added the 55-year-old father of seven, from his modest home
Business
SAMA Licenses ‘Hala Financing’ to provide crowdfunding solutions
Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) has licensed "Hala Financing" to provide debt-based crowdfunding solutions. With Hala...
- With Hala Financing, there are now 11 authorized companies offering debt-based crowdfunding solutions in Saudi Arabia
- The addition brings the total number of finance companies licensed and permitted by SAMA to 62, according to a SAMA news release
Business
US says Boeing can be prosecuted for 737 MAX crashes
San Francisco, United States - The US Justice Department on Tuesday said Boeing can be prosecuted for two subsequent 737 Max...
- Boeing breached obligations under an agreement that had shielded it against legal proceedings for the accidents, department officials said in a letter to a federal court in Texas
- Such a breach would mean Boeing can be prosecuted for any violation of federal law related to the crashes, according to US justice officials
Business
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...
- OpenAI, backed by Microsoft, has been valued at more than $80 billion by investors
- The new model can respond to users’ audio prompts “in as little as 232 milliseconds
Business
Iraq now gas self-sufficient, paves the way for surplus exports
Iraq has now become self-sufficient in liquid gas and the surplus is usually exported abroad, strengthening the Iraqi economy.
- Iraq has now become self-sufficient in liquid gas and the surplus is usually exported abroad
- It is expected that Iraq's oil reserves will increase to over 160 billion barrels, thereby boosting Iraq's position in the global oil market
Business
Apple’s latest iPad signals the company’s AI-powered future
San Francisco, United States - Apple on Tuesday announced a line of new iPad tablets revamped with a powerful AI chip...
- The latest version of the iPad Pro uses a new chip called the M4, which is stronger than the one currently used for Apple's laptops
- The iPad Pro and ultralight iPad Air are the company's first iPad releases in two years, ending Apple's longest period without upgrades since it launched the tablet in 2010
Business
NEOM, Saudi Red Sea Authority to partner in marine tourism
NEOM, Saudi Arabia -- Saudi Red Sea Authority (SRSA) has signed a memorandum of understanding (MoU) with NEOM to collaborate...
- The partnership will promote the sharing of expertise and enable the implementation and activation of joint initiatives.
- The agreement specified several areas of cooperation, such as supporting opportunities available to investors in coastal tourism and water activities.
Business
Gaza truce talks resume in Egypt, without Israel for now
Mediators from Qatar, Egypt and the United States have been waiting for Hamas to respond to a proposal that, according...
- The WHO says 1.2 million people, half of Gaza's population, have sought refuge in Rafah, which has been repeatedly threatened by Israel with an invasion.
- US has reiterated its objections to a Rafah offensive, saying Israel has not presented a plan to protect the civilians sheltering there.
Business
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...
- There's also a discernible penchant for high-performance and sports models, reflecting the region's enthusiasm for dynamic driving experiences.
- In the Arab world, customers prioritizing eco-friendly options in luxury cars is rising, although it remains somewhat nascent.
Business
As ‘news deserts’ spread, US journalism fights on
Baltimore, United States - Baltimore Banner reporter Matti Gellman is first to leap in with questions during a recent press appearance...
- For more than two decades, since the internet upended the advertising and print model on which newspapers had been based, the industry has been in crisis
- Nearly half of US counties have just one news source, the report said, often a weekly newspaper. And 228 are on a so-called "watch list" at high risk of losing even that
Company News
Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
World Economic Forum
Latest News
OPEC+ sticks to oil output plan after Trump’s price demand
In a bid to boost prices, the Organization of the Petroleum Exporting Countries (OPEC) headed by Saudi Arabia and Russian-led allies...
Business
Morgan Stanley sees upswing in MENA M&A deal volumes and values
After a challenging year where M&A activity in the Middle East and North Africa took a tumble, Morgan Stanley forecasts...
Abu Dhabi records $2.88 billion in real estate transactions in January
Abu Dhabi, UAE -- Abu Dhabi’s real estate market recorded AED10.6 billion in transactions in January, totaling 2,514 property deals.According...
Business
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Business
‘Authenticity, experiences, culture, generational and solo travel to lead tourism trends’
Visit Saudi, experience the warmth, generosity and hospitality of the people, Jerry Inzerillo tells TRENDS in an exclusive interview.
- Visit Saudi, experience the warmth, generosity and hospitality of the people, Jerry Inzerillo tells TRENDS in an exclusive interview
- Cultural and heritage tourism is on the rise, with travelers seeking genuine local experiences, from food to historical sites, her adds
Economy
‘Global Collaboration Village aims to digitize and democratize WEF dialogues’
DAVOS: The future of global collaborations is being shaped by innovation and the ubiquitous embrace of immersive technologies, which continue...
- GCV expands WEF’s mission by bringing diverse global perspectives into Davos through digital platforms, Huang, GCV president tells TRENDS
- GCV’s digital extension, in partnership with Accenture and Microsoft, fosters year-round collaboration, he adds
Business
ADQ, Orion to establish JV
The partners commit to deploying $1.2bn in the next four years.
- The JV will make strategic investments in the metals and mining sector to enhance supply chain security locally and globally.
- The joint venture will invest in a diverse range of metals and minerals in various geographies, focusing initially on emerging markets in Africa, Asia and Latin America.