Tesla expected to launch long-discussed robotaxi service, will use Model Y
New York, United States -- Tesla is expected to begin offering robotaxi service Sunday in Austin, an initial step that...
Business
Oil prices drop, stocks climb as Iran-Israel war fears ease
Israel's surprise strike against Iranian military and nuclear sites on Friday -- killing top commanders and scientists -- sent crude prices...
Business
Market Report
Stocks mixed, dollar firms on rate-hike fears
Stock markets traded mixed as last week's optimism gave way to worries that central banks may wait longer than expected...
- The dollar firmed on prospects of more US rate-tightening and oil prices slipped.
- Cooler inflation is said to have eased the pressure on the European Central Bank.
Business
Delegation highlights investment opportunities in Ras Al Khaimah
RAS AL KHAIMAH, UAE - A delegation from Ras Al Khaimah Economic Zone (RAKEZ) has concluded its visit to Russia...
- RAKEZ delegation met people from construction, manufacturing, information technology and fast-moving consumer goods trading.
- The audience in Russia was keen on exploring sectors such as cement, building materials, engineering services and raw materials trading.
Business
Jordan’s tourism income grows by 88.4 percent in first quarter
Dubai, UAE – Jordan’s tourism revenue increased by 88.4 percent in the first quarter of 2023 to reach 1.18 billion...
- The revenue reached 1.18 billion Jordanian dinars ($1.66 billion) as nearly 1.5 million tourists visited the country.
- Jordan as a whole received 4.6 million visitors in 2022 -- almost four times the level from 2020 -- earning the country $5.3 billion.
Business
G42 and Mubadala announce launch of M42
Abu Dhabi, UAE - G42, an Abu Dhabi-based AI technology holding group, and Mubadala Investment Company on Tuesday announced the...
- M42 combines G42 Healthcare’s medical and data-centric technologies with Mubadala Health’s patient services and facilities "to provide personalised, and preventative care."
- In October 2022, G42 Healthcare and Mubadala Health announced that they had joined forces to create a new, integrated healthcare technology powerhouse.\
Economy
Saudi Arabia and Netherlands discuss export of clean hydrogen to Europe
Riyadh, Saudi Arabia-- Saudi Arabia and the Netherlands have discussed the possibility of exporting clean hydrogen from the kingdom to...
- The two also discussed the kingdom's efforts in clean energy and climate change through its local and regional initiatives
- In a separate meeting, the Saudi Foreign Minister Prince Faisal bin Farhan and the Dutch minister reviewed the bilateral relations between the two nations
Economy
Annual inflation in Qatar shoots up 4.01 percent in March
Doha, Qatar-- Inflation in Qatar rose by 4.01 percent year-on-year in March, because of a rise of prices across eight...
- Recreation and culture posted the highest increase, climbing up to 13.63 percent, according to the data released by the Planning and Statistics Authority
- During the fourth quarter of 2022, Qatari banks recorded the highest loan increase among Gulf lenders, despite a stiff interest rate environment
Business
‘Monetizing hate’: Unease as misinformation, conspiracy theories swirl on Twitter
The Tesla tycoon bitterly denies that misinformation has surged since his turbulent $44 billion acquisition of the messaging platform, but...
- In a recent BBC interview, Musk pushed back at allegations that misinformation and hateful content were seeing a resurgence since his takeover.
- Twitter's ad income will drop by 28 percent this year, according to analysts at Insider Intelligence, who said "advertisers don't trust Musk."
Business
Merck to buy Prometheus
The US$11bn deal will drive drug company's growth.
- At the closing of the New York Stock Exchange on Friday, Prometheus's share price stood at $114.01
- The medical company is in the middle of developing a treatment for autoimmune diseases, including ulcerative colitis and Crohn's disease
Business
DEWA wins Hydrogen Project of the Year Award for green transition
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has won the Hydrogen Project of the Year 2023 Award for...
- Hydrogen Project Award was part of the Hydrogen Future Awards 2023, organized during the Connecting Green Hydrogen MENA" Conference in Dubai.
- This award recognizes leaders from international energy corporations who made key contributions to the growth of the clean energy industry.
Business
Europe’s largest nuclear reactor begins operation in Finland
The most powerful nuclear reactor in Europe, with a capacity of generating 1,600 megawatts, Olkiluoto 3 reached full power in late...
- Olkiluoto 3, now producing around 14 percent of the country's electricity, is expected to remain operational for "at least the next 60 years".
- Built by Areva-Siemens consortium, the reactor was first started up in December 2021 and connected to the Finnish power grid in March 2022.
Tesla expected to launch long-discussed robotaxi service, will use Model Y
New York, United States -- Tesla is expected to begin offering robotaxi service Sunday in Austin, an initial step that...
Business
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Silal and MBZUAI sign MoU
Business
Emirates Islamic profit rises 71%
The Bank’s total income reached AED 1.2 billion ($326.69 million)
Business
DMCC launches global trade roadshow in London to attract FDI from UK
Dubai, UAE--DMCC has kicked off the ninth edition of its global trade roadshow, Made For Trade Live, in London, seeking...
Business
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Business
UAE MoD ink deals worth $517m in first two days of UMEX and SimTEX 2024
ABU DHABI, UAE - On the second day of the sixth edition of UMEX and SimTEX 2024, the accumulated value...
- The second day of the event witnessed announcement of five deals signed by the Tawazun Council.
- The total number of local contracts on the second day of UMEX and SimTEX 2024 reached five contracts.
Business
Hub71-backed ABHI to set up global headquarters in Abu Dhabi
DUBAI, UAE - With support from the Abu Dhabi Investment Office (ADIO), Hub71-backed ABHI, an embedded finance platform founded in...
- ABHI is working with Abu Dhabi Investment Office as it scales up its operations to capture growth opportunities in emerging markets.
- ADIO provides a range of support to the FinTech company, including incentives and connections to the Abu Dhabi ecosystem.
Business
Milrem and UAE sign world’s biggest defense robotics order
Abu Dhabi, UAE - EDGE Group entity Milrem Robotics signs a contract to supply 20 tracked robotic combat vehicles (RCVs)...
- Milrem will supply 20 tracked robotic combat vehicles (RCVs) and 40 THeMIS unmanned ground vehicles (UGVs) to UAE Ministry of Defense.
- Milrem Robotics will also provide comprehensive training and supervision to ensure the relevant personnel.