Microsoft hires DeepMind co-founder to lead AI unit
Of all the tech giants, Microsoft has moved the fastest into adopting generative AI, integrating its powers into a whole...
Google launches ChatGPT rival Bard in EU, Brazil
The US tech giant unveiled Bard in February but delayed its release in the European Union as the bloc plans...
- Google has raced to catch up with rival Microsoft, which has rushed to integrate ChatGPT-like powers in a wide array of its products, including the Bing search engine
- Bard is "now available in most of the world, and in the most widely spoken languages," Bard's product lead Jack Krawczyk and vice president Amarnag Subramanya wrote in a blog
Economy
Bahrain secures 9th spot in survey for best expat destinations in world
Manama, Bahrain--Bahrain has climbed up to ninth position in the top destinations in the world for expatriates, according to report...
- Respondents perceived Bahrain to be the country where a visa could be secured easily, and a bank account could be opened without a hassle
- The survey is one of the world's biggest expat polls based on data from more than 12,000 expats from 171 countries, scattered across the world
Musk launches xAI to rival OpenAI, Google
Musk on Twitter added that the new company's aim was to "understand reality" and answer life's biggest questions. The launch...
- The xAI website said Musk would run the company separately from his other companies but that the technology developed would benefit those businesses, including Twitter
- The startup is staffed by former researchers from OpenAI, Google DeepMind, Tesla and the University of Toronto, the team is to be advised by Dan Hendrycks
Economy
Jordan and Japan review economic, strategic relationship
Amman, Jordan-- Jordan and Japan have discussed ways to boost economic cooperation and further strengthen strategic ties between the two...
- The Jordanian minister noted the "importance" of Japanese investments and their role in transfering advanced technology to the kingdom
- Jordan's exports to Japan, according to the Department of Statistics, amounted to $87 million, while imports from Japan touched $348 million
Business
Saudi-Turkish Business Forum kicks off in Istanbul with signing of 16 agreements
Riyadh, Saudi Arabia - The Saudi-Turkish Business Forum which began on Wednesday in Istanbul, witnessed the signing of 16 agreements...
- The forum is a collaboration between the Federation of Saudi Chambers of Commerce and the Foreign Economic Relations Board of Turkiye
- The forum was attended by the Saudi Minister of Municipal, Rural Affairs, and Housing, Majid bin Abdullah Al-Hogail, and the Turkish Minister of Trade, Omer Bolat
Economy
GCC, API sign MoU to establish framework for cooperation
Riyadh, Saudi Arabia-- Seeking to establish a broad framework for cooperation in several areas, the GCC and the Arab Planning...
- The MoU is expected to contribute to the development of the local working force in the GCC through cooperation in several areas
- GCC secretary general applauded API for supporting Arab organizations and institutions in all their forms with projects and ideas
Business
Most world stock markets advance as US inflation data looms
London, United Kingdom - World stock markets mostly rose Wednesday as investors jockeyed for position before key US inflation data.London equities...
- London equities climbed after the Bank of England announced that all major UK retail lenders passed stress tests to assess their resilience to economic shocks.
- Frankfurt and Paris also advanced before the week's main event, the US consumer price index, which forecasts suggest will show a further softening.
Business
TCS Q1 profit at US$1.35bn
Revenue from operations was US$7.2 billion.
- TCS, India's second-most valuable company by market cap, reported a net profit of 110.7 billion rupees ($1.35 billion).
- TCS was boosted by 16.1 percent growth in its UK market, while North America and Europe grew by 4.6 percent and 3.4 percent.
Business
DEWA, Huawei ink deal to bolster digital change, decarbonization
Guangdong, China - A DEWA delegation led by Al Tayer, MD and CEO DEWA, discussed enhancing cooperation and exchanging experiences...
- An agreement was signed between Digital DEWA and Huawei which focuses on accelerating digital transformation.
- The deal is a step towards supporting supports DEWA's efforts in energy transformation, sustainability, and achieving Net-Zero.
Business
Broadcom to acquire VMware after EU okays deal
BRUSSELS, BELGIUM- The European Commission approved US chipmaker Broadcom's planned $61 billion takeover of cloud computing firm VMware on Wednesday, conditional...
- The massive deal had raised concerns about competition, prompting probes by antitrust watchdogs in the European Union and Britain.
- As a remedy, Broadcom offered interoperability commitments to rival Marvell Technology and any other potential competition.
Microsoft hires DeepMind co-founder to lead AI unit
Of all the tech giants, Microsoft has moved the fastest into adopting generative AI, integrating its powers into a whole...
Company News
Oil prices rise following Red Sea attacks
Market Report
AviLease, SDH Wings Sign MoU
Business
Latest News
Dubai set to navigate new realty landscape this year
In 2024, the real estate sector is expected to continue to evolve, offering challenges and opportunities for investors and residents...
Business
Stock markets: Germany drags Europe down, Tokyo rises again
In Asia, Tokyo rose for a sixth successive day to build on last week's advances, which saw the Nikkei break...
Business
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World Economic Forum
IMF chief at Davos: AI holds risks, opportunity for global economy
Artificial intelligence poses risks to job security around the world but also offers a "tremendous opportunity" to boost flagging productivity...
- "We must focus on helping low-income countries in particular to move faster to be able to catch the opportunities that artificial intelligence will present," Georgieva told AFP.
- Georgieva said 2024 is likely to be "a very tough year" for fiscal policy worldwide, as countries look to tackle debt burdens accumulated during the Covid-19 pandemic.
Business
Ummahat Island unveils world’s first net-zero 5G network towers
Tabuk, Saudi Arabia -- Red Sea Global (RSG), Zain KSA, and the French Serge Ferrari Group have developed and installed...
- In addition to being 100% solar powered, these towers are designed in a way that allows air circulation to reduce cooling costs, and do not require high maintenance.
- They are also aimed at preserving biodiversity and enabling tower sharing among all licensed telecom operators in KSA.
Business
Mammoet, Aertssen sign agreement
The two firms will provide heavy-lifting solutions in Qatar.
- Mammoet said in a statement that the collaboration will "capitalize on the individual strengths and capabilities of both companies".
- The solutions range from small mobile cranes for quick operations to complex engineered heavy lifting and transport projects.