Deepfakes can clone your voice in 5 seconds, tech firms mount defense
Las Vegas, United States -- Tech firms are fighting the scourge of deepfakes, those deceptively realistic voices or videos used...
Geostrategy
Borouge proposes share buyback
The company had posted a 24% YoY increase in net profit to $1.24bn.
Business
Business
Abu Dhabi to host electric-run aircraft, drone manufacturing plant
Abu Dhabi, UAE-- Monarch Holding and Chinese company EHang Holdings have signed an agreement to establish the first facility in...
- Apart from making electric aircraft and drones, the two partners will set up a command-and-control centre to manage urban air mobility autonomously
- The collaboration is also expected to result in an advanced infrastructure for vertiports and an autonomous flight management system operated by AI
Business
Becht scours for partners in Saudi Arabia, Oman to widen operations
Riyadh, Saudi Arabia-- Becht, an American engineering services company, has revealed that it is in talks with potential partners in...
- The company's director for the Middle East said discussions with companies in Saudi Arabia were also going on for striking partnerships
- Van Der Beek said that Becht hopes to sign a number of downstream contracts with firms in Oman within a year
Man Utd bidding war: Sheikh Jassim, Ratcliffe make their final offers
While Sheikh Jassim's latest offer is reported to be over £5 billion ($6.2 billion), the size of Ratcliffe's improved bid...
- Sheikh Jassim is in a bidding war with Ratcliffe after the pair emerged as the main contenders to buy the Premier League club from the Glazer family
- Sources said Sheikh Jassim's bid for 100 percent control of the club comes with the promise of significant additional funding for transfers and infrastructure
Economy
UAE Banks Federation ratifies plan to develop banking sector
Abu Dhabi, UAE-- Looking to employ 5,000 UAE national by 2026, and designing a program to groom future banking and...
- The naitonal anti-fraud campaign launched by the federation to strengthen customer confidence in the banking and financial sector was commended in the meeting
- Abdulaziz Al Ghurair, the Chairman of the UBF, applauded the Central Bank of the UAE for supporting the federation and guidance to its members
Business
US Fed accepts supervision failed in Silicon Valley Bank
The US Federal Reserve called for greater banking oversight while admitting to its own failures in a report published into...
- Silicon Valley Bank's management failed to adequately manage risk prior to the bank's swift collapse.
- Federal Reserve supervisors failed to take forceful action after they had identified issues at the bank.
Geostrategy
Uzbekistan, IsDB ink pacts worth US$396.7m for infrastructure, education
JEDDAH, SAUDI ARABIA - Islamic Development Bank (IsDB) President and Group Chairman Dr. Muhammad Al-Jasser and Uzbekistan Minister of Investments,...
- Under the agreement, IsDB will provide US$260 million in financing for the Integrated Rural Development Project.
- The project will empower local communities, improve their access to quality and resilient infrastructure.
Business
KEZAD, Al Ghurair Foods ink pact
Pact involves investment of over US$272 million.
- The agreement will mark the first phase of Al Ghurair Foods division’s investments in KEZAD.
- The highest standards of food safety in line with International biosecurity standards will be followed.
Business
Swiss central bank says tough rules needed for sector
BERN, SWITZERLAND - Switzerland's central bank said Friday that the country's banking regulations needed toughening up after the implosion of Credit...
- Credit Suisse's share price plunged on March 15, causing the central bank to step in with a $54-billion lifeline for the second-biggest bank in Switzerland.
- The Swiss government, Swiss National Bank and the financial market regulator strongarmed UBS into a $3.25-billion takeover on March 19.
Geostrategy
UAE to take part in meeting with Arab finance ministers, experts
ABU DHABI, UAE - The UAE will participate in the Joint Annual Meeting of Arab Financial Institutions, which will be...
- UAE will participate in the 52nd annual meeting of the Board of Governors of the Arab Fund for Economic and Social Development.
- UAE will also take part in the 47th annual meeting of the Board of Governors of the Arab Bank for the Economic Development in Africa.
Business
DFM net profit surges 30%
The consolidated revenue rose 13 percent to $24.2 million.
- The total consolidated revenue rose 13 percent to $24.2 million in Q1 2023, compared to $21.4 million in Q1 2022.
- Operating income amounted to $12.9 million, while investment returns and other income reached $11.3 million
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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
Deepfakes can clone your voice in 5 seconds, tech firms mount defense
Las Vegas, United States -- Tech firms are fighting the scourge of deepfakes, those deceptively realistic voices or videos used...
Geostrategy
Company News
Russian oil price cap partially successful
Geostrategy
Tawzea, NWC ink pacts
Business
Mubadala invests in Zenobē
Business
Latest News
Disinformation, misinformation hurt global businesses
"These risks are serious because they limit our ability to tackle the big global challenges we are facing. Changes in...
Opinion
WTO hopes to finalize fishing agreement
GENEVA, SWITZERLAND - The head of the World Trade Organization's fisheries talks voiced optimism on Tuesday about striking an agreement on...
Geostrategy
Most Read
Business
Emirates to recruit 5,000 crew members in 2024
DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s. The airline...
- The airline is inviting fresh graduates with internships or part-time jobs on their résumés.
- It is inviting individuals keen to embark on an exciting career travelling the globe. .
Business
Nespresso faces $330 m lawsuit in Switzerland over capsules
Zurich, Switzerland - A French television star and a group of investors are demanding 280 million Swiss francs ($330 million) from...
- A French television show host Jacques Essebag, who goes by the name Arthur, is leading the suit against the Nestle subsidiary
- Nespresso, when contacted by AFP, acknowledged the lawsuit filed by ECC but said it did not comment on ongoing legal proceedings
Business
Counterfeit products cost Europe $13 billion, 200,000 jobs a year
Paris, France - Counterfeit products -- mainly clothes -- cost the European economy 16 billion euros a year and result in...
- The findings, based on data from 2018 to 2021, show that fakes take the biggest toll on the clothing sector, costing 12 billion euros ($13.1 billion) annually
- The bulk of the counterfeiting occurred in just five EU members, with Germany, France, Italy, Spain and Austria accounting for half the yearly losses