Altegio in UAE market to local boost digital transformation
Unlike other automation platforms that redirect customers to third-party websites, Altegio keeps booking processes within the client’s own ecosystem.
Business
Boeing to cut 10% of workforce
The company has projected a large third-quarter loss.
Science
Gemini’s inaccurate AI racial images warn of tech titans’ power
AUSTIN, US – For people at the trend-setting tech festival here, the scandal that erupted after Google's Gemini chatbot cranked out...
- Gaffes such as the images of ethnically diverse Nazi troops forced Google to temporarily stop users from creating pictures of people.
- Social media users mocked and criticized Google for historically inaccurate images, like those showing a female black US senator from the 1800s.
Business
Nakheel, Meydan join Dubai Holding
The Board of Directors of both Nakheel and Meydan will be abolished.
- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum directed the two to merge under Dubai Holding under the leadership of Sheikh Ahmed bin Saeed Al Maktoum
- He said the goal is to create a more financially efficient entity, owning assets worth hundreds of billions, and comprising global expertise across various sectors
Business
Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...
- The Saudi delegation held meetings with teams from Canada, the Czech Republic and Ecuador.
- These are part of the 85 meetings they will hold with officials of countries and global firms participating in the event.
ExxonMobil makes new oil discovery
The oil and gas strike is the first of 2024.
- The oil and gas strike, the first of 2024, was in the Stabroek block, the company said Friday
- Drillers "encountered approximately 197 feet (60 meters) of hydrocarbon-bearing sandstone," Exxon said
Business
Gulf aviation industry sets sky-high standards
"The demand from certain sectors indicates a strong interest in First Class, prompting us to introduce a newly-designed First Class...
- Qatar Airways CEO, Engr. Badr Mohammed Al Meer, emphasizes innovation in elevating customer experience amidst growing competition.
- Digital innovation drives organizational efficiencies, supporting the expansion of Qatar Airways into growth markets like China and India.
Business
UAE’s working mothers get extended maternity leave
The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120...
- The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, says Kathryn Martin of VFS Global.
- This initiative, led by companies like VFS Global, not only enhances employee well-being but also promotes gender equality and diversity in the workplace, she adds.
Business
Air Arabia shareholders approve 20% dividend for FY2023
SHARJAH, UAE – Air Arabia shareholders approved the distribution of a 20 percent cash dividend for the financial year ended...
- The dividend, which is equivalent to 20 fils per share, underscores another year of record financial performance.
- In 2023, Air Arabia added 26 new routes to its global network from its operating seven hubs.
Business
Du, Samsung ink agreement
The two companies have signed a three-year partnership.
- This collaboration allows for expansion in the business-to-consumer (B2C) and business-to-business (B2B) segments.
- The companies will also collaborate on reaching the younger generation, with joint participation in events like the Dubai Esports Festival.
Economy
Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023
RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
- This translates to a non-oil economy valued at US$$453 billion (SAR1.7 trillion) at constant prices.
- Non-oil economy is valued at $$453 billion at constant prices, fueled by growth in investment, consumer spending and exports.
Business
Vodafone sells Italian unit to Swisscom
British telecoms giant sold the business for US$8.7 billion.
- Vodafone has been on a cost-cutting campaign that has included layoffs and the offloading of divisions abroad
- Its CEO said the deal with Swisscom marked the "third and final step in the reshaping of our European operations"
Altegio in UAE market to local boost digital transformation
Unlike other automation platforms that redirect customers to third-party websites, Altegio keeps booking processes within the client’s own ecosystem.
Business
Company News
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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...
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...
Business
Dubai SME, Danube Group partner to aid Emirati-owned SMEs
Dubai, UAE – Danube Group, a leading conglomerate in the Middle East and Dubai SME, a subsidiary of the Dubai...
Business
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Business
Oil giant Aramco says to offer shares worth over $10 bn on Saudi bourse
Riyadh, Saudi Arabia - Oil giant Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than...
- In a statement posted to the Saudi stock exchange, Aramco announced a secondary public offering of 1.545 billion shares
- The sale on the local bourse, which represents approximately 0.64 percent of the company's issued shares, will commence on Sunday
Business
Saudi Arabia partners with Microsoft Arabia for AI use in media
Riyadh, Saudi Arabia - The Ministry of Media and Microsoft Arabia signed a memorandum of understanding (MoU) in Riyadh on...
- The collaboration spans data analysis, machine learning, artificial intelligence, security and privacy solutions, and software and service development solutions
- The MoU aims to enhance the media sector in Saudi Arabia, enabling it to contribute to the local economy and benefit from the advancements of artificial intelligence
Business
Musk plans largest-ever supercomputer for xAI startup: report
Washington, United States - Billionaire tech mogul Elon Musk has told investors he plans to build a supercomputer dubbed "gigafactory of...
- Musk wants the supercomputer - which will string together 100,000 Nvidia chips - operational by fall 2025, and "will hold himself personally responsible for delivering it on time,"
- The planned supercomputer would be "at least four times the size of the biggest GPU clusters that exist today," such as those used by Meta to train its AI models