OpenAI enlists iPhone designer to create ideal device for using AI
New York, United States -- ChatGPT-maker OpenAI has enlisted the legendary designer behind the iPhone to create an irresistible gadget...
Business
Sharjah’s real estate sector records $1.49bn in transactions during May
Sharjah, UAE --Â Sharjah's real-estate market during May 2025 recorded a total of 8,415 transactions worth AED 5.5 billion. Â Of...
Business
Business
Credit Suisse merger the right choice despite risks: UBS
Shareholders of both banks had no say in the mega-merger, which was engineered by the Swiss government, the central bank...
- UBS chairman told the bank's annual general meeting in Basel that although the $3.25-billion takeover was sprung upon them, it would offer overall stability
- Colm Kelleher said the deal was expected to close within a few months and would preserve the critical financial sector as a pillar of Swiss national prosperity
Business
Masdar achieves financial close on three solar projects in Uzbekistan
Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) announced today it has achieved financial close on three solar photovoltaic (PV)...
- The company will begin construction on the plants at once, which will have a combined capacity of around 900 megawatts
- Under the ETAF initiative, a climate finance paltform, Masdar and AIIB have committed capital to the Uzbekistan projects
Business
QatarEnergy to participate in Iraq’s mega natural gas project
Doha, Qatar - QatarEnergy has agreed to hold a 25 percent share in the Gas Growth Integrated Project (GGIP) -...
- The consortium will be composed of Basra Oil Company (30 percent), TotalEnergies (45 percent), and QatarEnergy (25 percent)
- Signed in September 2021, the key strategic project involves investing nearly $10 billion to design and construct facilities
Business
Talent Outsourcing in UAE to touch US$6.8bn by end of 2023
Dubai, UAE-- The total spending by UAE-based organisations on outsourcing services from local and offshore providers was estimated at over...
- The total spending by UAE-based organizations on outsourcing was around $4.8bn in 2018 and is expected to reach $6.8bn in 2023, a report said
- It highlighted the UAE's initiative to diversify its economy toward economic development, cutting-edge innovation, digital transformation, and security
Economy
Saving behavior in the UAE jumps as National Bonds hit 15% growth in 2022
Dubai, UAE - National Bonds, the UAE’s Shari’a-compliant savings and investment company, saw another strong year soaring to an investment...
- The strong growth in 2022 was attributed to several pioneering ideas and solutions, such as the Golden Pension Plan, Global Savings Club, and Sukuk Al Waqf
- The Golden Pension Plan leverages the financial solutions provided by National Bonds to residents, to meet the demand from both employers and employees
Business
Young Libyans take to e-gaming in a big way as tech revolution sweeps the region
Tripoli's mushrooming arcades have driven rapid growth in Libya's nascent gaming community, Mattouss says. The increasingly organized community is "motivating...
- Unlike in other Arab states, "the gaming community was completely dead here" until recently, says Sofiane Mattouss, who runs the business set up in 2022
- Gaming industry experts say the Middle East and North Africa are high-growth regions, with Saudi Arabia, the UAE and Egypt among the largest markets
Economy
UAE Unemployment Insurance Scheme subscribers exceed 1m
DUBAI, UAE - Â UAE Ministry of Human Resources and Emiratization (MoHRE) announced that the Unemployment Insurance Scheme has exceeded one...
- The Unemployment Insurance Scheme covers employees in the federal government sector and the private sector.
- The scheme provides low-cost job security net that supports the career path and living stability of employees in the UAE.
Business
Italy to investigate Meta over music copyright violations
Meta is accused of exploiting its dominant position in the market "by asking SIAE to accept an inadequate economic offer,...
- The Italian Competition Authority said it was probing Meta's "alleged abuse of economic dependence" of the Italian Society of Authors and Publishers.
- The alleged unfair practices could prevent musical artists from "reaching the ever-widening category of users who enjoy social platforms," it said.
Business
German anti-cartel watchdog puts Apple under surveillance
Products like the hugely successful iPhone meant Apple presided over a "wide-ranging digital ecosystem which is of great importance to...
- The Federal Cartel Office said it had determined Apple to be a company of "paramount significance for competition across markets'.
- Apple joins Amazon, Google parent Alphabet and Meta, the group behind Facebook, in falling under reinforced monitoring.
Business
Jordan’s $1.25 billion Eurobonds oversubscribed six times
Dubai, UAE – Jordan’s Ministry of Finance and Central Bank Wednesday said they have completed the issuance of $1.25 billion...
- The kingdom's finance ministry reduced the coupon rate by 25 basis points from 2022's issue of 7.75 despite the US Federal Reserve raising interest rates seven times since.
- Jordanian media reports said the number of subscribers exceeded 230, including some of the largest global investment houses.
OpenAI enlists iPhone designer to create ideal device for using AI
New York, United States -- ChatGPT-maker OpenAI has enlisted the legendary designer behind the iPhone to create an irresistible gadget...
Business
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Masdar eyes Europe for growth
Business
Volkswagen to reduce workforce
Business
Mac computers could reach new glory due to AI
SAN FRANCISCO, US - Forty years after igniting a PC revolution, Apple's Mac is stronger than ever and could reach new...
Business
Bahrain Q4 2023 imports increase to US$3.92bn
MANAMA, BAHRAIN - The Information eGovernment Authority (iGA) has published its foreign trade report of Bahrain for Q4 2023, covering...
Economy
Alef Group announces US$84m sales transaction at ACRES 2024
SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant...
Business
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Business
Threat of AI-powered phishing is on the rise
"Technologies such as Generative AI presents new security challenges. The rise of automated spear phishing necessitates reevaluating our trust heuristics....
- Generative AI is driving a surge in sophisticated spear phishing, automating attacks via social media scraping and credential stuffing, transforming the cybersecurity landscape.
- The emergence of tools like WormGPT and FraudGPT on the dark web, coupled with cybercrime's ranking as the world's third-largest economy, is fueling innovative phishing techniques.
Business
Alhokair Group wins $202m contract
Alpha Facilities Contracting Company has awarded the contract.
- The contract was awarded a project by Alpha Facilities Contracting Co., an affiliate of Al Fanar Group, to provide catering services at a residential complex in NEOM.
- It is expected that the financial impact of this partnership will begin as of Q1 2024, which will contribute to strengthening the group’s business.
Business
Fit at 40: the revolutionary Apple Mac in numbers
Paris, France - Forty years ago Steve Jobs revolutionised personal computing by launching the Apple Macintosh, the first PC with a...
- The first Mac came with 128 kilobytes of memory space, one million times less than top-of-the-line MacBooks today
- Apple paid a whopping $800,000 ($2.5 million in today's money) to air the one-minute ad, seen by 77.6 million TV viewers