AI-Driven technologies drive operational excellence, helping meet sustainability goals
Industrial AI and digital technologies are revolutionizing energy infrastructure, helping companies across asset-intensive sectors achieve operational excellence
Business
Netflix adds millions of subscribers but growth slows
San Francisco, United States - Netflix on Thursday said it added more than five million subscribers in the recently ended quarter...
Business
Business
ADX partners with Eureeca
The collaboration will bolster accessibility to ADX IPOs.
- The partnership between ADX and Eureeca capitalises on the exchange’s robust e-IPO investor portal, highlighting its commitment to simplifying the IPO process
- The tie up will take advantage of Eureeca’s international investor base, giving regional and international retail and HNWIs the opportunity to participate in ADX IPOs
Economy
Federal Reserve begins two-day talk on interest rates
Washington, United States - The US Federal Reserve began two days of discussions on Tuesday at which policymakers are expected to...
- It will culminate on Wednesday afternoon with the publication of the interest rate decision, along with an updated summary of economic projections (SEP)
- The Fed has raised interest rates to a 23-year high of between 5.25 and 5.50 percent as it looks to return inflation firmly to its long-term target of two percent
Science
Google’s new AI for corner kick tactics gets Liverpool approval
PARIS, FRANCE – Liverpool football analysts have given their seal of approval to a new artificial intelligence tool from Google that...
- Many clubs across the world already deploy experts to comb through video and data to carefully plan corner kick scenarios ahead of matches.
- Google DeepMind, the AI arm of the US tech giant, also targeted corners for its new TacticAI system in research.
Business
Masdar to buy stake in Terra-Gen
Masdar to buy 50 percent stake in Terra-Gen from ECP.
- Masdar’s US portfolio of utility-scale wind, solar and storage assets has a generating capacity of over 1.4 GW.
- The US market will play a vital role as Masdar plans to build a renewable energy portfolio of 100 GW capacity by 2030
AstraZeneca to buy Fusion
The $2.4bn deal is its latest expansion into cancer treatments.
- Fusion is developing next-generation radiotherapy to treat cancer via precise targeting that minimizes damage to healthy cells
- AstraZeneca, whose cancer treatments represent a third of its overall sales, saw its share price drop one percent following the news
Business
UAE investments abroad reach US$2.5trn in beginning of 2024, says UAEIIC
ABU DHABI, UAE – The United Arab Emirates has solidified its position as a leading regional and global player in...
- This robust financial footprint positions the UAE as a significant economic force with strong potential for continued expansion.
- The focus on emerging markets and the creation of strategic partnerships further amplifies this momentum.
Business
Saudi EXIM bank surpasses 2023 credit goals by 33%
Riyadh, Saudi Arabia -- The Saudi EXIM Bank has given credit facilities amounting to SAR16.5 billion ($4.455 billion), surpassing the...
- One significant achievement was a credit facility agreement valued at $503.9 million with Trafigura Company, a major international export house
- The agreement aims to facilitate Saudi non-oil exports to over 150 countries, contributing to the objectives of the Kingdom's Vision 2030
Business
‘GCC set to dominate global cryptocurrency market’
“Oman is emerging as a standout in the regional crypto mining landscape, highlighted by its support of Exahertz, an Omani...
- The GCC region is leveraging competitive energy rates, crypto-friendly regulations, and essential infrastructure to become a global crypto powerhouse, says an expert.
- Oman's substantial $1.1bn investment in crypto mining aims to boost its Bitcoin sector, with predictions of Bitcoin reaching $100,000, adds, Ritu Singh of Stone X Group.
Business
Saudi Aramco CEO calls energy transition strategy a failure
Pointing to the still paltry share of renewable energy in global supply, the head of Saudi Aramco described the current...
- Fossil fuels accounted for 82% of global consumption last year, according to KPMG report
- The International Energy Agency has said oil demand could hit a record this year
Nvidia unveils ‘superchips’
The company also announced other AI developments.
- Nvidia's powerful GPU chips and software are an integral ingredient in the creation of generative AI, with rivals like AMD or Intel still struggling to match the power
- Apple, Microsoft and Amazon have also developed chips with AI in mind, but for now are stuck trying to get their hands on Nvidia’s coveted products
AI-Driven technologies drive operational excellence, helping meet sustainability goals
Industrial AI and digital technologies are revolutionizing energy infrastructure, helping companies across asset-intensive sectors achieve operational excellence
Business
Company News
Latest News
UK’s richest family get jail terms for exploiting staff at Swiss villa
Geneva, Switzerland -A Swiss court handed jail sentences to four members of Britain's richest family on Friday, branding them "selfish" for...
Business
Oil and gas industry hops on generative AI bandwagon
In recent years the downstream industry, which includes refineries that process crude oil into gasoline, has increasingly relied on so-called...
Intel suspends expansion of factory plan in Israel
New York, United States - Intel is halting the expansion of a major factory project in Israel, which was going to...
Business
Most Read
Business
Chinese electric car company Nio to enter UAE this year
Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an...
- Nio, which recently received funding from Middle East-based investors, saw record-high deliveries of 20,544 vehicles in May
- Rival BYD Â has also made the UAE its entry point to the Middle East
Business
JPMorgan to launch ‘Pay With Your Face’ Shopping
JPMorgan Chase is reportedly preparing to launch a biometric payments system for the masses, the Daily Hodl reported quoting the American...
- 28% of consumers have used facial recognition for an online purchase in the last 30 days
- Â 3 billion people will pay using biometrics by 2026, with global transactions hitting $5.765 trillion per year
Business
IATA urges Pakistan, Bangladesh to release blocked airline funds
The International Air Transport Association on Tuesday urged Pakistan and Bangladesh to remove barriers to airlines repatriating ticket revenues after...
- Pakistan and Bangladesh collectively owe $731 million in blocked airline funds
- Boeing, Airbus, face scrutiny over safety and manufacturing standards