AI’s US$19.9tn contribution: Insights from Tealium on digital economy’s future
By 2030, every dollar spent on AI-powered solutions is expected to generate US$4.60 in economic value, according to global analyst...
Interview
Business
ADNOC, Japan sign deal to bolster low-carbon hydrogen value chain
Tokyo, Japan--Abu Dhabi National Oil Company has signed two agreements with Japanese partners to strengthen the low-carbon hydrogen value chain between...
- One of the agreements, with Kawasaki, aims to explore the production, liquefaction, and transportation of hydrogen to key global markets
- The deal comes as countries around the world ramp up efforts to reduce carbon emissions and meet the goals of the Paris climate agreement
Economy
ACWA Power to build 1,000 megawatt solar power plant in Iraq
Riyadh, Saudi Arabia--ACWA Power will construct a 1,000 megawatt solar power plant in Iraq, the first clean energy project in...
- The joint venture project, according to Iraqi minister, will be developed in Central Iraq’s Najaf city, around 160 km south of the capital
- In 2021, Iraq signed a contract with PowerChina to build 2,000 MW solar plants in the nation to fulfill its growing demand for electricity
Business
Elon Musk lays out plan to create ‘truth-seeking’ AI
Musk's founding of X.AI artificial intelligence corporation, a rival to OpenAI came several weeks before he joined experts in signing...
- The billionaire boss of Twitter voiced anew his concerns about the danger of AI, saying it has "the potential of civilizational destruction"
- Elon Musk has formed an X.AI artificial intelligence corporation based in the US state of Nevada, according to business documents
Business
A ‘VUCA’ world demands digital resilience
As organizations prepare for the next wave of disruption, including responding to cyber-attacks, keeping the enterprise environment secure, and accommodating...
- We surveyed over 2,500 organisations from a variety of vertical markets including financial services, education, government, gaming, utilities, healthcare and retail and eCommerce
- Many enterprise organizations are opting for a hybrid model and adapting their workplace, not only for health reasons but also for efficiency and cost reduction benefits
Business
Dubai records $450 million in real estate transactions: DLD
Dubai, UAE - Dubai's real estate market recorded real estate deals worth AED1.8 billion on Monday, Dubai Land Department said....
- The sales included 447 villas and apartments worth AED910.14 million ($247.84m), and 49 land plots worth AED756.08 million ($205.87m).
- The mortgages included 88 villas and apartments worth AED145.7 million ($39.68m) and 19 land plots valued at AED23.35 million ($6.36m).
Business
Saudi crowdfunding platform Jood Eskan enters Guiness World Records
Dubai, UAE -- The Charitable Jood Eskan Subscription, Saudi Arabia's campaign for providing housing for low-income families, has entered the...
- The Jood Eskan crowdfunding platform was launched in 2019 to provide housing for families in need in 2019 by the kingdom's National Developmental Housing Foundation (Sakan).
- The Charitable Jood Eskan Subscription, a campaign launched during Ramadan, realizing the highest target for an electronic charitable campaign in one month.
Science
Arada to create Middle East’s first new sustainable water treatment
SHARJAH, UAE- Arada is investing in a new research and development (R&D) facility here, bringing a new form of sustainable...
- The long-term goal for the facility will be to create an improved ‘Biopolus 2.0’ version of the technology, while also turning Sharjah into a global hub for the process
- The modular, flexible, and odor-free nature of the Biopolus technology means that each plant can be placed directly in any urban environment
Geostrategy
Air France, Airbus acquitted over 2009 Rio-Paris crash
PARIS, FRANCE - Air France and plane manufacturer Airbus were acquitted Monday over the 2009 crash of a Rio-Paris flight after...
- The two companies went on trial in October to determine their responsibility for the worst aviation disaster in Air France's history.
- If convicted, Air France, Airbus would have risked a fine of US$250,000 as well as significant reputational damage.
Business
MBME lists on ADX
The firm provides customized digitalization solutions.
- MBME Group operates the region’s largest online utility and government services payment platforms.
- It became the 14th company to list on the ADX Growth Market, which delivered robust performance last year.
Business
Sega to buy Rovio
The deal is worth more than $770 million, the companies said.
- The deal would mark the end the independence of Finnish mobile game makers, which burst into the scene when Rovio launched its slingshot-bird game more than a decade ago.
- The bid by Sega, famous for its own animal character, Sonic the Hedgehog, is also the latest high-profile acquisition in the gaming sector.
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
Company News
Dubai Taxi IPO raises US$315m
Business
Latest News
Honda to make electric mopeds
Business
BRICS to launch bonds worth US$28bn in local currencies
Tehran, Iran-- BRICS is preparing to launch new bonds in global markets, which will be available in local currencies rather...
Business
PIF’s diverse investments transform Saudi economy
From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future...
Business
Most Read
Business
DEWA records 12.5 million digital transactions in 2023
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) announced that its customers conducted around 12.5 million digital transactions in...
- DEWA offers digital services for electricity and water management, as well as innovative sustainability services.
- These include smart living initiative, features like consumption monitoring, comparison with high-efficiency homes.
US sanctions Hong Kong, UAE firms over Houthi support
The move comes hours after US and UK forces launched strikes against the Houthi rebels, seeking to halt their repeated...
- The two companies designated on Friday by the US Treasury Department were Hong Kong-based Cielo Maritime and UAE-based Global Tech Marine Services
- They were said to have shipped Iranian commodities on behalf of the network of Houthi financial facilitator Sa'id al-Jamal, said the Treasury
Delta reports profit jump
Its revenue jumped to $14.2 billion for the quarter.
- The company reported net income of more than $2 billion for the October to December period, up from $828 million for the same period in 2022
- Delta shares slumped by more than eight percent around midday on Friday, while rival United Airlines saw its shares plunge by 9.4 percent