60 percent travelers in UAE trust AI to plan their trips: Report
Dubai, UAE -- Â Nearly 60 percent of travelers in the UAE trust Artificial Intelligence (AI) to plan every aspect of...
Business
Jordan sees decrease in number of tourists over Gaza war
Amman, Jordan -- Jordan has seen a decrease in the number of tourists visiting its famed ancient city of Petra...
Business
Business
Arab-China summit sees $10bn deals on first day
Investment agreements between the two sides covered diverse sectors such as technology, renewables, agriculture, real estate, minerals, supply chains, tourism,...
- Investment agreements between the two sides covered diverse sectors such as technology, renewables, agriculture, real estate, minerals, supply chains, tourism, and healthcare
- The MoU between the Saudi Ministry of Environment and the Beijing Institute of Genomics aims to enhance food security and environmental protection in Saudi Arabia
Business
RTA signs strategic partnership agreement with Al-Futtaim Automotive
DUBAI, UAE - Dubai’s Roads and Transport Authority (RTA) has signed a strategic partnership agreement with Al-Futtaim Automotive to deploy...
- The agreement will support RTA's sustainable transport network and the Zero-Emissions Public Transportation in Dubai 2050 strategy.
- Al-Futtaim Automotive will also provide assistance for building the Authority’s electric charging technology and infrastructure.
Geostrategy
SEWA, US delegation explore collaboration in innovation, sustainability
Sharjah, UAE - Abdullah Abdul Rahman Al Shamsi, Director-General of SEWA Sunday discussed the authority's initiatives to reduce emissions and...
- The two discussed the authority's initiatives to reduce carbon emissions and combat climate change and its vision for the upcoming COP28 conference.
- They also explored potential collaborations between the authority and American companies in innovation and sustainable development.
Business
George Soros hands over control of his $25bn empire to son Alexander
Billionaire investor George Soros had handed over control of his US$25 billion empire to his younger son Alexander Soros -...
- Alexander Soros recently met with Biden administration officials, Senate Majority Leader Chuck Schumer, and heads of state.
- The younger Soros is the only family member on the investment committee overseeing Soros Fund Management.
Business
Saudi SME Bank signs $266m deals with fintech firms, investment funds
Riyadh, Saudi Arabia – The SMEs Bank system of the National Development Fund has signed 20 agreements valued at more...
- These deals include 10 agreements and MoU by the SMEs Bank worth SAR 500 million and three agreements signed by the Saudi Venture Capital Company SVC worth SAR 232 million.
- A total of seven MoUs were signed by the Small and Medium Enterprises Financing Guarantee Program "Kafalah" worth SAR 300 million with a leverage of up to five times.
Business
Kuwait Oil Company’s five-year digital strategy to reduce expenses
Kuwait -- Kuwait Oil Company announced on Saturday that it has upgraded its five-year digitalization strategy, which will contribute to...
- The upgrading of the strategy will also enhance safety and security, and help manage risks in a better way, Deputy CEO for gas and innovation at KOC Bader Ahmad Al-Munaifi said.
- "KOC will announce a roadmap for digitalization and launch a massive database during a conference on June 18," he said.
Business
10th Arab-China Business Conference opens in Riyadh
The conference -- being held under the theme "Collaborating for Prosperity" -- aims to strengthen the Arab-Chinese friendship and foster...
- The conference -- being held under the theme "Collaborating for Prosperity" -- aims to strengthen the Arab-Chinese friendship and foster a shared prosperous future
- China is now the largest trading ally of Arab nations with a trade exchange of $430bn in 2022, a 31 percent increase from 2021, with Saudi Arabia leading the league
Business
Drink with Messi for $42,000: Chinese police warn over scams
Beijing, China -- Dinner, drinks and a selfie with Lionel Messi sounds like every football fan's dream, but Chinese police have...
- The Argentine legend's presence in China for a friendly against Australia in the capital on Thursday has drawn scammers and ticket-scalpers desperate to c on Messi mania.
- For 50 million yuan, Messi will appear on your shopping livestream to extol the virtues of your product, another unauthorized advertisement claims.
Economy
Desperate Syrians recycle plastic waste to make living
Recycling, in rebel-controlled Syria, is rather a grim lifeline than environmental impulse for desperate residents searching for work or items...
- In northern Idlib province, workers at a factory making mats and rugs churn out brightly coloured recycled plastic
- The mats made from recycled plastic cost between $5 and $15, while traditional Persian-style rugs are around $100
Economy
Saudi NIDLP publishes report highlighting ‘achievements’ in four key sectors
Riyadh, Saudi Arabia-- In order to ensure compliance with the goals of Saudi Arabia's Vision 2030, the National Industrial Development...
- According to NIDLP, the program continues to work diligently to achieve the desired results under the plans emerging from the Saudi Vision 2030
- The program looks to maximize and diversify the economic impact in the four sectors, achieving sustainability and creating attractive investment environment
60 percent travelers in UAE trust AI to plan their trips: Report
Dubai, UAE -- Â Nearly 60 percent of travelers in the UAE trust Artificial Intelligence (AI) to plan every aspect of...
Business
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Saudi, UAE report highest levels of gross debt
Infographics
Boeing expects Q1 hit from MAX troubles
The airline backs intensified oversight from the FAA.
Business
UAE leads global charge in generative AI adoption
With 40 percent of UAE workers already exploring generative AI, the nation stands as a beacon of tech adoption, far...
Business
EU excuses Apple and Microsoft products from tougher tech curbs
Brussels, Belgium - Apple's iMessage and Microsoft's Bing search engine got a reprieve from tougher EU rules curbing how tech titans...
Business
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Business
EU adopts fallow land exemption after farmer protests
Brussels, Belgium - The European Commission on Tuesday officially extended an exemption from contested rules to leave a share of agricultural...
- The EU acknowledged that a combination of geopolitics and extreme weather meant farmers were struggling to meet the fallow land rule
- The fallow land rule was imposed as part of the bloc's common agricultural policy to promote biodiversity
Business
Bitcoin crosses $50,000 for first time since 2021
The cryptocurrency has enjoyed a strong run-in recent month, fueled by expectations US lawmakers would allow the creation of exchange-traded...
- After dropping in reaction to last month's green light by Washington, bitcoin has rallied about 25%
- That advance saw it hit as much as $50,328, according to Bloomberg data, its highest level since late 2021
Business
Michelin posts record operating profits
Sales at the French firm dipped last year to US$30.5bn.
- Sales by volume dropped by 4.7 percent but Michelin said this reflected its strategy of prioritizing markets and business segments
- Sales of premium and big tyres, in particular for SUVs, helped improve the company's performance, as did a drop in costs for raw materials