Google packs new Pixel phones with Artificial Intelligence
New York, United States -- Google on Wednesday unveiled new Pixel 10 smartphones, showcasing artificial intelligence (AI) capabilities woven into...
Business
Business
Twitter restricts ‘TweetDeck’ to verified users from August
Paris, France - Twitter has announced that TweetDeck, a popular program that allows users to monitor several accounts at once, will...
- TweetDeck, launched more than a decade ago, shows messages in columns and its search and posting functions operate differently to the website or the app
- Twitter bought London-based TweetDeck in 2011, with technology media putting the price tag at $40 million at the time
Business
Meet EU ‘gatekeeper’ definition, say seven tech giants
BRUSSELS, BELGIUM -  Seven tech giants, including Amazon and Apple, have informed the European Union they meet the threshold to come...
- The firms are Google parent Alphabet, Amazon, Apple, TikTok owner ByteDance, Facebook umbrella Meta, Microsoft and Samsung.
- The firms stated they had revenue and user figures big enough to be classed as "gatekeepers", EU internal market commissioner Thierry Breton said.
Business
Subscription opens to Alinma EMF
The subscription is open for 60 days until Aug 31.
- The offering targets collecting SAR 187.5 million (about $50 million) in subscriptions.
- The fund will start operations on Sept. 14, or earlier if the minimum capital requirement of SAR 37.5 million is met.
Business
Saudi Catering, RSG ink pacts
The contracts are valid for 20 years, said Saudi Catering.
- The first contract includes the design, building, operation and transfer of a central laundry to serve hotels, resorts as well as other facilities.
- The second contract includes the design, building, operation and transfer of a central production unit for catering and facilities management services.
Business
Aldar, IHC, ADNEC merge joint businesses
Eltizam Asset Management Group will also join Aldar Estates platform.
- Under the agreement, IHC and ADNEC Group, a subsidiary of ADQ, will become strategic shareholders in Aldar Estates.
- Aldar Properties will retain a majority stake and maintain control over the combined platform.
Business
Facebook owner Meta to launch Twitter-like ‘Threads’ app
Thread's launch comes after a period of uncertainty at Twitter since Tesla owner Elon Musk took over in October, with...
- Listed as "Threads, an Instagram app," the new program should be available in the coming days, and is described on Apple's app store as "Instagram's text-based conversation app"
- Threads is where communities come together to discuss everything from the topics you care about today to what'll be trending tomorrow," says the app's description on the store
Economy
UAE’s financial advisory market to touch US$239 billion in 2023
Dubai, UAE--The UAE's financial advisory market is expected to reach a market volume of nearly $239 billion by the end...
- In 2023, assets under management in the UAE's wealth management market are forecast to cross US$255 billion, according to data
- According to industry analysts, some 4,500 millionaires will shift to the UAE and take residence in the country on a permanent basis
Business
Saudi Arabia’s Al-Ettifaq hires former Liverpool star Steven Gerrard as coach
Riyadh, Saudi Arabia--Former Liverpool captain Steven Gerrard is the latest star name to make the move to Saudi Arabia after...
- Gerrard who was sacked by Aston Villa in October had initially rejected an offer to move to the kingdom, but eventually was lured by the riches on offer
- The Saudi Pro League supported by the kingdom's sovereign wealth fund has lured big names from the major European leagues with the promise of huge salaries
Economy
UAE cabinet sets up ministry of investment, approves new strategies
The new ministry will bolster the UAE's business aims and investment policies, apart from promoting its infrastructure as a global...
- The cabinet approved the updated UAE National Energy Strategy, aiming to triple the contribution of the renewable energy over the next 7 years
- It also approved the National Hydrogen Strategy which aims to promote the UAE’s position as a producer and exporter of low-emission hydrogen
Business
Tesco picks new chairman
Gerry Murphy is new chairperson of Britain's biggest retailer.
- Tesco had announced in May that John Allan would leave after media allegations over his conduct towards women
- Media reported that Allan faces "claims of inappropriate and unprofessional behavior" from four women
Google packs new Pixel phones with Artificial Intelligence
New York, United States -- Google on Wednesday unveiled new Pixel 10 smartphones, showcasing artificial intelligence (AI) capabilities woven into...
Business
Company News
Middle East needs strong Saudi Arabia, says kingdom’s finance minister
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AI in focus as world’s biggest mobile fair gets underway in Spain
Barcelona, Spain - The world's biggest mobile phone fair throws open its doors in Barcelona Monday with the sector looking to...
Business
Price of natural gas in Europe falls to a 3-year low
LONDON, UK – The price of natural gas in Europe fell again on Friday, taking it to its lowest in almost...
Business
ADGM’s Registration Authority fines two firms for audit failings
ABU DHABI, UAE – The Registration Authority (RA) of Abu Dhabi Global Market has fined Baker Tilly Middle East Limited...
Geostrategy
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Business
Saudi Arabia, China sign MoU to develop air transport cooperation
Beijing, China - Saudi Arabia and China on Thursday signed a memorandum of understanding (MoU) to develop air transport cooperation. The...
- The MoU was signed during the visit to China of Saudi civil-aviation officials
- The areas of cooperation outlined in the MoU include expanding the number of air transportation stops
Business
MENA ups cybersecurity ante to combat GenAI risks
With GenAI emerging as a new frontier for cyber threats, and stricter data privacy laws coming into effect, organizations are...
- With GenAI emerging as a new frontier for cyber threats, and stricter data privacy laws coming into effect, organizations are investing heavily to safeguard their futures.
- A surge is seen in security and risk management spending, highlighting critical need for robust cybersecurity measures and a proactive approach to manage digital risks.
Business
Lloyds Group profit is $6.2bn
High interest rates benefitted the British lender and banking sector as a whole.
- "The group delivered a robust financial performance in 2023, meeting our guidance," said chief executive Charlie Nunn
- Banks in the UK and elsewhere are gaining from higher interest rates as central banks, including the Bank of England