Dubai Chambers partners with DP World and Customs to boost logistics resilience
Dubai, UAE — Dubai Chambers, in collaboration with Dubai Customs and DP World, convened a meeting with around 100 private...
Business
AI can screen talent, only humans can see it
Cultural nuance matters deeply in MENA. Communication styles differ across the Gulf, the Levant, and North Africa. Comfort with camera-based...
Opinion
Business
In shock move, OpenAI sacks ChatGPT star CEO Sam Altman
His dismissal caught the tech world by surprise, with rumors rife on social media as to the cause of the...
- Altman became a tech world sensation with the release nearly a year ago of ChatGPT, an artificial intelligence (AI) chatbot with unprecedented capabilities
- Analysts scrambled to interpret the shakeup, and the sacking of 38-year-old Altman, a Stanford University dropout, entrepreneur and computer coder
Business
‘X’ new update includes job search feature, now live on the web
Washington, United States - The X platform has launched a new update that includes the job search feature, which provides...
- A job search tool similar to the LinkedIn platform is now available on X's website
- X reported back in September that “hundreds” of companies had listed open roles in the app
Economy
GCC sovereigns eye fiscal rejuvenation
A report by S&P Global Ratings forecasts improved fiscal positions due to higher oil prices, fiscal consolidation and a robust...
- The report projects a nearly $11 billion deficit on average over 2023-2026 which is 0.5 percent of average GCC GDP over this period
- Prudent fiscal policy and the relatively higher oil price environment have resulted in some governments repaying part of their debt stock
Business
Meta, TikTok challenge incoming EU digital market law
Brussels, Belgium - Tech giants Meta and TikTok are contesting the scope of an EU law that from March will set...
- As with the Digital Services Act, which came into force in August, and the 2016 General Data Protection Regulation, the DMA comes with sharp teeth.
- Companies found infringing the DMA expose themselves to fines that could go as high as 20 percent of their global turnover, or even orders to be broken up.
Business
US chip curbs disturb Chinese firms AI projects
Shanghai, China - US restrictions on advanced computer chips are forcing China's tech giants to rethink their ambitious AI-powered projects, analysts...
- E-commerce titan Alibaba on Thursday became the latest Chinese firm to admit to feeling the bite of US sanctions
- The curbs now target cloud computing to prevent Chinese companies from accessing powerful AI chips hosted elsewhere
Business
NBM’s board approves increasing Murabaha sukuk issue to $133m
RIYADH, SAUDI ARABIA - National Building and Marketing Co’s (NBM) board of directors approved an increase of Murabaha SAR-denominated sukuk...
- The move aims to boost the company's capital expansions and working capital, the company said in a statement.
- The sukuk issue was amended from a private placement to a public offering, the company said.
Business
ADSB to make two vessels for ADNOC Logistics & Services
ABU DHABI, UAE - Abu Dhabi Ship Building (ADSB) announced that it is building two 28-meter vessels for ADNOC Logistics...
- The vessels are each powered by two diesel engines coupled with two Z-drive Azimuth thrusters.
- This configuration allows them to achieve a speed of 12 knots and a bollard pull of 60 tons.
Business
$5.8bn worth deals signed in first four days of Dubai Airshow 2023
DUBAI, UAE – Tawazun Council signed 16 deals, worth US$1.3 billion (AED 4.87 billion), with local and international companies on...
- The first day saw announcement of contracts worth US$1.2 billion and the second day US$1.8 billion
- The total value of contracts announced on third day stood at US$1.3 billion
Business
EPI to make assembly parts for Raytheon
EPI is part of the Platforms Systems cluster within EDGE.
- EPI will supply prototype quantities of machined aluminium and assembly parts for the Coyote® Counter-UAS interceptor.
- The agreement supports the 'Make it in the Emirates' initiative, a comprehensive plan for developing the UAE's industrial sector.
Business
PIF seeks to increase stake in Egypt’s e-Finance by 2 percent
Riyadh, Saudi Arabia -- Ibrahim Sarhan, the Chairman and Managing Director of e-Finance for Digital & Financial Investments based in...
- This move comes after PIF's recent buy orders for the stake purchase, indicating the fund's confidence in e-Finance and its favorable financial results, Argaam reported.
- e-Finance expanded its operations by opening an office in Saudi Arabia this month, securing essential licenses with the support of PIF as a major shareholder.
Dubai Chambers partners with DP World and Customs to boost logistics resilience
Dubai, UAE — Dubai Chambers, in collaboration with Dubai Customs and DP World, convened a meeting with around 100 private...
Business
Company News
Tesla reports drop in auto sales
Business
FAB, Microsoft forge partnership
Business
Latest News
Liberty Media buy MotoGP
Business
Smart cities lead GCC’s IoT boom: NEOM and Smart Dubai in focus
IoT applications are transforming critical sectors such as transportation, where connected vehicles improve traffic management, utilities where smart grids enhance...
Economy
Tech and sustainability drive Singapore’s smart tourism vision
To realize its vision for “smart tourism”, Singapore Tourism Board is leveraging cutting-edge technologies like artificial intelligence, data analytics, and...
Interview
Most Read
Interview
AI’s US$19.9tn contribution: Insights from Tealium on digital economy’s future
By 2030, every dollar spent on AI-powered solutions is expected to generate US$4.60 in economic value, according to global analyst...
- Scaling AI solutions across industries presents significant challenges, particularly around data quality and privacy, Coyne said.
- At Tealium, we take an active role in educating and empowering our customers to maximize AI’s potential while mitigating risks, he added.
Interview
GCC a key player in global freight and logistics industry, says Trukkin’s Dalmia
The region leverages a strategic major hub, advanced infrastructure, and economic diversification to fuel logistics demand, says Janardan Dalmia, Founder...
- The GCC Freight and Logistics market size is valued at US$76 billion in 2024 and is projected to reach US$110 billion by 2030.
- Governments in the GCC are also reducing bureaucracy, and spending money on improving the infrastructure, Dalmia said.
Analysis
Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
- The logistics market revenue in 2023 was US$485 billion by airways, US$2.85 trillion by waterways, US$2.09 trillion by railways and US$3.52 trillion by roadways.
- In the Arabian Gulf countries, the focus of the logistics and transport industry is moving from the UAE to Saudi Arabia.