‘Authenticity, experiences, culture, generational and solo travel to lead tourism trends’
Visit Saudi, experience the warmth, generosity and hospitality of the people, Jerry Inzerillo tells TRENDS in an exclusive interview.
Business
Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer...
World Economic Forum
Ratcliffe unveils electric Ineos car
Jim Ratcliffe is the co-owner of the Manchester United.
- Ratcliffe, 71, earlier this week completed a deal to become co-owner of Manchester United, with a pledge to drive the English football giants to renewed success
- On Friday, Jim Ratcliffe noted that a desire by subsidiary Ineos Automotive to produce zero-carbon cars was hampered by how far they could travel without a recharge
Bosch to cut 3,500 jobs
The company is reducing costs to safeguard competitiveness,
- The global jobs cull would affect "indirect" workers, BSH added, referring mainly to administrative positions
- BSH which employs around 60,000 people globally, said 1,000 jobs will be cut this year already
Business
Chip giant TSMC shifts to Japan
The company produces half the world's chips.
- Taiwan Semiconductor Manufacturing Company, which counts Apple and Nvidia as clients, produces half the world's chips
- But TSMC's customers concerned about supplies of semiconductors want the firm to make more chips away from the self-ruled island
Dow, S&P 500 hit fresh records, but Nasdaq ticks lower
The tech-rich Nasdaq slipped by 0.3 percent to 15,996.82 -- a day after surging by 3.0 percent following strong earnings...
- The Dow Jones Industrial Average, America's blue-chip index, rose 0.2 percent to end the day at a record high of 39,131.53
- The broad-based S&P 500 was barely positive for the day, rising by well under 0.1 percent. Nevertheless, it inched higher to a new record of 5,088.80
Business
Saudi solar company ALUPCO partners with Mexico-based Array technologies
Riyadh, Saudi Arabia - Saudi Arabian aluminum extrusion company Aluminum Products (ALUPCO) has entered into a strategic collaboration with Array...
- ALUPCO, headquartered in Dammam, Saudi Arabia, is recognized as a leading aluminum solutions provider in the Middle East and North African region
- Array Technologies, known for manufacturing solar tracker technology for over 30 years, has operations in Arizona, Australia, Brazil, England, South Africa, and Spain
Science
American spaceship lands on moon, images expected soon
The first American spaceship on the Moon since Apollo is "alive and well" following a drama-packed touchdown, the firm that...
- The Houston-based company's stock price soared by 40 percent in early trading before paring back to 24 percent.
- Intuitive Machines said Odysseus, which is the size of a large golf cart, is upright.
Business
UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023
ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion...
- The aggregate capital and reserves of UAE-based banks increased 12.3 percent or US$14.4 billion during the first 11 months of 2023
- National banks accounted for 86.5 percent of the total capital and reserves of UAE-based banks logging $113 billion by end of November 2023
Business
Real estate transactions worth over US$74m take place in Qatar in week
DOHA, QATAR - The volume of real estate trading in the country in sales contracts at the Department of Real...
- Total sales contracts for residential units in the Real Estate Bulletin for the same period were US$8 million.
- The list of real estate properties traded for sale include vacant lands, houses, a residential building, and residential units.
Business
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...
- Phone makers are expected to focus on the unique AI-powered tools of their latest handsets at the four-day Mobile World Congress in Barcelona
- Telecoms operators will use the event to explore how AI can help improve their operations, from boosting security to providing better customer service
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...
- Gas reserves, which are usually drawn down during winter for heating, are at 64.7 percent of storage capacity on average in the European Union.
- Gas prices soared in 2022 and into 2023 as Russia's invasion of Ukraine made EU countries limit consumption and diversify their sources of supply.
‘Authenticity, experiences, culture, generational and solo travel to lead tourism trends’
Visit Saudi, experience the warmth, generosity and hospitality of the people, Jerry Inzerillo tells TRENDS in an exclusive interview.
Business
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RAKBANK, DP World sign pact
Business
IATA urges Pakistan, Bangladesh to release blocked airline funds
The International Air Transport Association on Tuesday urged Pakistan and Bangladesh to remove barriers to airlines repatriating ticket revenues after...
Business
Dubai SME, Danube Group partner to aid Emirati-owned SMEs
Dubai, UAE – Danube Group, a leading conglomerate in the Middle East and Dubai SME, a subsidiary of the Dubai...
Business
Airlines expect over $30 bn in profits and passengers to hit nearly five billion in 2024: IATA
The International Air Transport Association (IATA) announced strengthened profitability projections for airlines in 2024 compared with its June and December...
Business
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Business
Saudi Arabia partners with Microsoft Arabia for AI use in media
Riyadh, Saudi Arabia - The Ministry of Media and Microsoft Arabia signed a memorandum of understanding (MoU) in Riyadh on...
- The collaboration spans data analysis, machine learning, artificial intelligence, security and privacy solutions, and software and service development solutions
- The MoU aims to enhance the media sector in Saudi Arabia, enabling it to contribute to the local economy and benefit from the advancements of artificial intelligence
Business
Musk plans largest-ever supercomputer for xAI startup: report
Washington, United States - Billionaire tech mogul Elon Musk has told investors he plans to build a supercomputer dubbed "gigafactory of...
- Musk wants the supercomputer - which will string together 100,000 Nvidia chips - operational by fall 2025, and "will hold himself personally responsible for delivering it on time,"
- The planned supercomputer would be "at least four times the size of the biggest GPU clusters that exist today," such as those used by Meta to train its AI models
Business
Algeria signs gas field deal with oil giant ExxonMobil
Algiers, Algeria - Algeria's state oil company announced Thursday it signed a memorandum with ExxonMobil to develop two gas fields, a...
- The two companies plan to "study the existing opportunities to develop the hydrocarbon resources in the Ahnet basin and the Gourara basin" in southern Algeria
- The agreement was signed in Algiers by Sonatrach's chief executive Rachid Hachichi and the head of exploration at ExxonMobil, John Ardill