IHG to open Hotel Indigo in Oxagon

• The 250-key Hotel Indigo property will be situated in the Oxagon’s first residential community and will open its doors in 2026.
• IHG currently operates 37 hotels across five brands in Saudi Arabia, including InterContinental, Crowne Plaza and Holiday Inn.

Asian markets swing as US jobs data disappoint

• Data recently pointed to a weakening in the US economy that would help ease inflation, the Fed has said it needed to see more softening in the jobs sector.
• This week's stumble follows a rally last week when a faster-than-expected slowdown in US inflation stoked hopes the Fed could end its rate hikes. .

FAB second quarter net profit $1.14bn

• For the first six months of 2023, the net profit was $2.19 billion, up 7 percent from $2.08 billion.
• The company said the operating income was $1.82 billion, up 37 percent from 2022.

Tech titans promise watermarks to expose AI creations

• Commitments by the companies include independent testing of AI systems for risks when it comes to biosecurity, cybersecurity, or "societal effects," according to the White House
• Watermarks for AI-generated content were among topics EU commissioner Thierry Breton discussed with OpenAI chief executive Sam Altman during a June visit to San Francisco

Saudi Arabia’s PIF sets up Sawani Company for camel dairy industry

• The company aims to be a leading producer of camel dairy products, supporting Saudi Arabia’s wider food and agriculture sector.
• Sawani will work in partnership with the private sector to boost the production capacity of the camel dairy industry.

Aramco buys 10% stake in Chinese petrochemical firm for $3.4 billion

• "Our strategic partnership with Rongsheng advances Aramco's liquids to chemicals strategy while growing our presence in China," Aramco vice president Mohammed Al Qahtani said.
• Aramco, which is mostly state-owned and said it earned record profits totaling $161.1 billion last year, has pledged to achieve "operational net-zero" carbon emissions by 2050.

Security, trust: Tech titans promise watermarks on AI creations

• Worry that imagery or audio created by AI will be used for fraud and misinformation has ramped up as the technology improves and the 2024 US presidential election gets closer.
• Commitments by the companies include independent testing of AI systems for risks when it comes to biosecurity, cybersecurity, or "societal effects," according to the White House.

Dates exports from Saudi Arabia hit $342m in 2022, marking a 5.4% surge

• The upward trajectory continued with Saudi dates exports rising by 2.5 percent year on year in the first quarter of 2023
• In 2022, the Kingdom's dates exports surged by a remarkable 121 percent compared to 2016

G42, Cerebras unveil world’s largest supercomputer for AI training, deal worth $100m

FAB H1 2023 net profit $2.2bn

• Return on Tangible Equity (ROTE) increased substantially to 18.6 percent as of June-end 2023.
• Strong capital accretion lifted group Common Equity Tier 1 to 13.6 percent as of June-end 2023.