Microsoft to train Philippine women in AI
It will partner with local schools to provide the training.
Business
Musk says will ‘open source’ Grok chatbot, a rival to ChatGPT
Tech investors are increasingly in split camps on the development of AI and how the technology should advance. Companies such...
Musk secures approval for direct brain-computer interface technology
Neuralink said clearance from the US Food and Drug Administration (FDA) for its first in-human clinical study is "an important...
- The aim of Neuralink implants is to enable human brains to communicate directly with computers, the Tesla boss said
- Elon Musk said the company would try to use the implants to restore vision and mobility in humans who had lost such abilities
Business
DP World cut global carbon emission by 5% in 2022
Dubai, UAE - DP World cut direct carbon emissions from its global operations by 5 percent last year, according to...
- The ESG report, published Thursday, has been developed in accordance with the latest Global Reporting Initiative (GRI) Standards
- DP World has already committed to becoming carbon neutral by 2040 and net zero carbon by 2050 in line with the UAE’s 2050 net zero
Business
Saudi Arabia, UK ink pact to develop critical minerals supply chains
Riyadh, Saudi Arabia -- Saudi Arabia and the United Kingdom on Thursday signed an agreement to jointly develop critical minerals...
- The agreement marks a significant step in the global endeavor to increase the supply of critical minerals
- Critical minerals are vital in producing various technologies, including electric vehicles, wind turbines, and solar panels
Business
Local e-commerce thrives as Saudis shift preference
Government initiatives, such as the national e-commerce strategy and consumer protection regulations, are playing a key role in facilitating the...
- Government initiatives, such as the national e-commerce strategy and consumer protection regulations, are playing a key role in facilitating the shift in consumers' choice
- As part of Vision 2030, the Saudi government aims to raise e-commerce and modern commerce contribution to 80% of the retail sector, says Kearney & Mukatafa report
Economy
Crypto experts leave US over obstructive regulations
DOHA, QATAR- Thousands of cryptocurrency industry developers have left the United States because of its negative stance towards the sector,...
- Regulators in the US have taken a tough line because of fears of money laundering and scams such as the FTX collapse.
- Other countries had been "very constructive" over regulation and attracted "a huge amount of talent," said Smith, CEO of blockchain.com
Business
Brazilian group seeks trade, investment boost with UAE
Sharjah, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) organized the UAE-Sao Paulo Business Forum on Thursday, marking...
- During the forum, the two sides discussed joint efforts and investment opportunities available in both cities.
- The delegation comprised representatives from companies operating in agriculture, food, cosmetics, and furnishings sectors.
Business
Qatari owners of Paris Saint-Germain in talks over Sampdoria investment
Paris, France - Qatar Sports Investments, the owners of French champions Paris Saint-Germain, are in negotiations over acquiring a stake in...
- Qatar Sports Investments has owned the French club since 2011, transforming a struggling outfit into one of the most powerful in Europe.
- QSI is hoping to acquire a "minority stake" in Sampdoria, the club from the Mediterranean port city of Genoa
Economy
‘Partnerships with technology leaders help in Dubai’s digital transformation’
DUBAI, UAE - First Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance of the UAE Sheikh...
- Successful partnerships with leading industry players are a key enabler of Dubai’s digital transformation journey.
- The initiative seeks to advance Dubai’s strategic objective of becoming one of the world’s top urban economies.
Business
Saudi PIF forms $3 billion company for investments in Iraq: CEO
Muteb Alshathri, acting CEO PIF, told the Saudi-Iraqi Coordination Council in the kingdom that the Saudi-Iraqi Investment Company will invest...
- Iraq's oil minister told the Council that Aramco will invest and develop the Akkas gas field in Anbar province, which could produce 400 mcfm per day.
- The five companies announced last year will invest up to $24 billion in opportunities across various key sectors in each market.
Business
UAE Ministry of Interior, Etihad Rail ink MoU to enhance cooperation
ABU DHABI, UAE - The UAE Ministry of Interior (MOI) and Etihad Rail Company, the developer and operator of the...
- The agreement builds upon the already strong relationship between the Ministry of Interior and Etihad Rail.
- The two parties will for enhancing readiness to confront security risks and threats, improving security and safety measures.
Microsoft to train Philippine women in AI
It will partner with local schools to provide the training.
Business
Company News
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UAE approves Dubai Metro Blue Line project
Geostrategy
UAE announces reduction in fuel prices for January
ABU DHABI, UAE - The prices of petrol and diesel are set to decrease in the country in January following...
Business
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
YEARBOOK 2023
45 percent of Saudi employees work over 40 hours per week
Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...
Business
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Geostrategy
Maersk halts ships’ transit via Red Sea strait for 48 hours
COPENHAGEN, DENMARK - Shipping giant Maersk said on Sunday it was suspending the passage of vessels through a key Red Sea...
- The Maersk Hangzhou, a Singapore-flagged, Denmark-owned container vessel reported being struck by a missile while transiting the Bab al-Mandab Strait.
- It appeared to be undamaged in that attack and "was able to continue its transit north", said Maersk, one of the world's largest shipping companies.
Business
Saudi AZM gets independent director
Omar bin Fahd Al-Sunaidi's term will extend until Jun 2026.
- The decision was made at the firm’s Fourth Ordinary General Assembly meeting.
- The assembly concluded with the appointment of PricewaterhouseCoopers (PwC) as the auditor for the Company's 2024 fiscal year.
Business
13 million merchandise tons shipped via special corridor, says Ukraine
The corridor was created in August to link Ukraine's ports to the Bosphorus Straits, several weeks after Moscow refused to...
- Ukraine, on the Black Sea, has pushed Russia's much larger navy away from its coasts, allowing the resumption of grain exports
- Russia had threatened to target ships arriving and leaving Ukrainian ports, and has attacked port and grain storage facilities