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...
Science
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...
Business
Business
Blockchain startup Metatime raises $25m in investment
New York, United States - Metatime, a blockchain technology company, has so far raised $25 million through crowdfunding, pre-sales, and...
- The investors included Yildiz Tekno Venture Capital Investment Trust, Yildiz Technical University Technopark, and telecommunications and financial institutions
- Metatime aims to integrate blockchain solutions into various sectors such as energy, tourism, insurance, CRM, advertising, cybersecurity, and virtual reality
Economy
Insurance becomes mandatory for foreign vehicles entering UAE
Abu Dhabi, UAE-- The Federal Authority for Identity, Citizenship, Customs and Port Security (ICP) has made it mandatory for foreign...
- In order to make it easier for vehicle owners to posses insurance cover, the authorities will provide them with online access to the platform to buy insurance
- The vehicle owners can access the service on the ICP's website or by downloading the "Shory Aber" application available for iOS and Android devices
Business
VR, AI help executive education flourish across GCC
Executive education in GCC countries is being driven by economic diversification and technological trends, Peter Zemsky, Deputy Dean of INSEAD,...
- Executive education in GCC countries is being driven by economic diversification and technological trends, Peter Zemsky, Deputy Dean of INSEAD, tells TRENDS.
- Amidst rapid technological changes, business education plays a pivotal role in equipping leaders and fostering a culture of continuous learning, adds Zemsky
Business
Dubai’s weeklong real estate transactions exceed US$4.2bn
DUBAI, UAE - A total of 4,048 real estate transactions worth over US$4.2 billion (AED 15.6 billion) were conducted during...
- The records show that 278 plots were sold for US$473 million, while 2,965 apartments and villas were purchased for US$1.9 billion.
- The top transaction was that of a plot of land in Wadi Al Safa 3 which sold for US$24 million, the records revealed.
Business
Siemens Energy shares fall due to technical problems at wind turbine unit
FRANKFURT, GERMANY -  Shares in Siemens Energy plummeted on Friday after the company warned that technical problems at its wind turbine...
- Siemens Energy said it was setting aside over US$1.1 billion over the coming years to fix the issues at troubled wind turbine subsidiary Siemens Gamesa.
- Shares in Siemens Energy plunged by more than 30 percent shortly after trading opened in Frankfurt, and ended the day about 37 percent lower.
Business
DP World, Pelindo and INA sign deal
They will more than double Indonesia's BNCT's capacity to 1.4m TEUs.
- The expansion and modernization program will strengthen BNCT's position as a major trade and logistics gateway in the Malacca Strait, DP World said.
- DP World will also work with its partners to connect other terminals and small ports on the Island of Sumatra.
Business
UAE banks’ total capital, reserves rise to US$118.5bn by April-end
ABU DHABI, UAE - Aggregate capital and reserves of banks operating in the UAE rose by 10 percent year-on-year (YoY)...
- National banks accounted for 86 percent of the total capital and reserves of banks operating in the UAE, which stood at US$102 billion by April-end.
- Share of foreign banks in aggregate capital and reserves of banks operating in the UAE settled at 13.6 percent, reaching US$ 16 billion by April-end.
Business
Dubai Financial Market delists shares of three companies
Dubai, UAE -- Dubai Financial Market has delisted shares of Gulf General Investments Company's shares, effective 23 June 2023, under...
- Shares of Gulf General Investments Company, Arabtec Holding Company and Marka Company were deslisted from 23 Jun 2023.
- Gulf General's delisting comes under the rule that empower it to delist any security that has been suspended from trading for a duration of six months.
Business
IsDB, AFD to finance $4bn projects in developing countries
Jeddah, Saudi Arabia -- The Islamic Development Bank (IsDB) and the Agence Française de Développement have signed an agreement to...
- The MoU was signed by the president of the Islamic Development Bank, Dr. Mohammed Al-Jasser in Vienna.
- Al-Jasser said last year that one out of every three member states of the Islamic Development Bank (IDB) is living in poverty.
Economy
Eurozone economic growth slows sharply in June
BRUSSELS, BELGIUM - Eurozone economic activity worsened in June to a five-month low, hit hard by a fall in industrial production,...
- Inflation remains well above the European Central Bank's target of two percent, which will keep pressure on the ECB to keep raising interest rates.
- The eurozone entered a technical recession at the start of the year, according to official figures published earlier this month.
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...
Science
Company News
Shell eyes $6bn in Nigeria
Business
Latest News
GCC telecom firms turn to Europe, Asia for expansion
Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home...
Business
False tweet from US regulator briefly sends bitcoin soaring
The jump in the price of bitcoin to almost $48,000 came immediately after the SEC published a message on its...
Honda unveils futuristic EV series
It will introduce a commercial model in the US in 2026.
Geostrategy
Most Read
Opinion
Rising threat of lookalike domains poses new challenge
"Detecting these attacks and avoiding falling victim to them is vital, but the ability to take down lookalike domains is...
- Lookalike domains deceive users via SMS, social media DMs, and QR codes.
- DNS vulnerability allows attackers to create authentic-looking fake domains.
Business
Middle East air cargo volumes up 13.5% in November
Dubai, UAE - Middle Eastern carriers recorded a 13.5% year-on-year increase in cargo volumes, strongest performance in the world. In November...
- Global demand for air cargo, measured in cargo tonne-kilometres (CTKs), increased by 8.3% compared to November 2022
- Most of the capacity growth is attributed to the increase in belly capacity as international passenger markets continue their post-COVID recovery
Business
Dubai’s RERA signs MoU with Zand Digital Bank
Dubai, UAE--The Real Estate Regulatory Agency (RERA), the regulatory arm of Dubai Land Department (DLD), signed a memorandum of understanding...
- The bank has been authorized by DLD to oversee real estate development escrow accounts and offer associated services
- The chief aim of the escrow account is to streamline the construction process for off-plan units, safeguarding the interests of investors