Meta to start using Europeans’ data for AI training May 27
Paris, France -- Meta will start using public posts and comments by its European users to train generative artificial intelligence...
Business
Travel and tourism sector contributes 11.4 percent to Gulf’s GDP
Muscat, Oman -- Travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent,...
Geostrategy
GCC, US vow to work jointly for regional stability
The strategic partnerships between the two sides seek to focus on peace, security, stability, integration, and economic prosperity in the...
- The strategic partnerships between the two sides aim at focusing mainly on peace, security, stability, integration, and economic prosperity in the Middle East.
- Beside supporting Yemeni peace efforts and humanitarian needs, the US and GCC also make a commitment to freedom of navigation and maritime security in the Gulf region.
Business
Barakah Plant’s final unit begins operational readiness preparations, says ENEC
ABU DHABI, UAE - The Emirates Nuclear Energy Corporation (ENEC) has announced that Unit 4, the fourth and final unit...
- Barakah Plant has had a transformational impact on the UAE, spearheading the rapid decarbonization of the UAE’s power sector.
- Unit 4 will raise the Barakah Plant’s total clean electricity generation capacity to 5.6GW, equivalent to 25 percent of UAE’s electricity needs.
Business
Autoliv to cut 11% workforce
It will slash up to 8,000 jobs in order to reduce costs.
- Autoliv said the cuts would be made globally but "particularly within its European operations" and 6,000 would be "direct positions" while 2,000 would be "indirect positions"
- For the first quarter of 2023, net sales of the Swedish-American company grew by 17 percent to $2.5 billion, while its net profit fell by 11 percent to $74 million
Economy
Eurozone in recession after two successive quarters of shrinking GDP
The eurozone entered into a technical recession at the start of the year, shrinking by 0.1 percent for a second...
- The worse-than-expected figures come as inflation and higher interest rates have curbed demand in Europe's largest economy.
- Two consecutive quarters of shrinking gross domestic product is the threshold for a technical recession.
Business
Sharjah Taxi transports 1.465m passengers in Q1 2023
Sharjah, UAE - Sharjah Taxi reports successful transport of 1.465 million passengers during the first quarter of 2023. With a...
- With a fleet of 750 vehicles of various models and brands, the company remains committed to ensuring passenger satisfaction, safety, and comfort
- Khalid Al Kindi, the Executive Director of Sharjah Taxi, emphasized the company's commitment to providing innovative services and prioritizing luxury experiences
Business
Argentina football star Messi joining MLS side Inter Miami after PSG exit
The romance of a Barcelona return and prospect of eye-watering riches in Saudi Arabia fell by the wayside as Messi...
- MLS and Inter Miami confirmed Messi's announcement on social media, although the American league noted "work remains to finalise a formal agreement"
- In their first game since Messi's announcement on Wednesday, Miami defeated Alabama non-league side Birmingham Legion 1-0 in the US Open Cup to reach the semi-finals
Business
WhatsApp debuts one-to-many broadcasting ‘Channels’
The debut comes as an array of agencies and organizations grow disenchanted with Elon Musk-owned Twitter in the face of...
- Meta said WhatsApp's priority will continue to be private messaging, but that users have been asking for a feature like Channels for years
- Meta said it is exploring the option of making encrypted channels available for groups such as nonprofits or health organizations
Business
Nasdaq slides as investors trade tech for industrial shares
The countervailing movements, according to analysts, were evidence of a rotation away from the tech-dominated winners from the earliest part...
- After a stretch in which markets were dominated by worries of a potential debt default followed by relief at a fiscal agreement, this week's news flow has been much slower
- Among individual companies, shares of Warner Bros. Discovery gained 8.4 percent as it announced that embattled CNN news chief Chris Licht had stepped down
Business
ADNOC L&S secures big contract
It won US$975mn artificial island construction contract.
- The company, a fully integrated energy logistics services provider, sees the contract a big milestone in its strategy to pursue new growth opportunities
- The company CEO said that the construction of artificial island "G" illustrates ADNOC L&S strategy to tap into new growth areas, exemplifying its range of services
Business
DEWA receives the lowest bid of $1.62 cents per kWh for the 1,800MW solar park
Dubai, UAE: Dubai Electricity and Water Authority (DEWA) on Thursday received two bids from ACWA Power and Masdar with the...
- The Mohammed bin Rashid Al Maktoum Solar Park is the largest single-site solar park in the world, DEWA CEO Al Tayer said
- When completed, the solar park will reduce over 6.5 million tonnes of carbon emissions annually, he noted
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Meta to start using Europeans’ data for AI training May 27
Paris, France -- Meta will start using public posts and comments by its European users to train generative artificial intelligence...
Business
Company News
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ESG buys 60% stake in AFKAR
Business
Over 70 percent of musicians fear AI, says French-German study
PARIS, FRANCE - More than two-thirds of musicians fear that artificial intelligence will make it impossible to make a living, according...
Arts & Culture
Most Read
Business
Ras Al Khaimah witnesses rise in issue of valid business licenses in 2023
RAS AL KHAIMAH, UAE - The economic growth of the Emirate continued to accelerate in 2023, with the Department of...
- The industrial sector in Ras Al Khaimah achieved a 5.3 percent annual growth rate in valid licence capital.
- Commercial licences experienced a 14.4 percent annual increase, bringing their total capital to $1.3 billion.
Business
Schneider Electric, Charge&Go ink pact
The aim is to develop EV charging facility in the UAE.
- Demand for electric vehicles in the UAE market has steadily increased over the past few years.
- The collaboration also aims to deliver on the demand for sustainable transportation in the UAE.
Business
25,647 new economic licenses issued in Abu Dhabi in 2023, says ADDED report
ABU DHABI, UAE - The Abu Dhabi's “Business Activity Report” for the year 2023, issued by the Abu Dhabi Department...
- 24,143 commercial sector licences were issued in 2023, comprising 94.1 percent of the total.
- Active licences in Abu Dhabi rose to 143,617, a growth of 10.9 percent compared to the year 2022.