Nvidia unveils plan for Taiwan’s first ‘AI supercomputer’
Taipei, Taiwan -- Nvidia boss Jensen Huang announced plans for Taiwan's first "AI supercomputer", as he showcased on Monday the...
Business
Business
Company launched to develop world’s largest modern downtown in Riyadh
Launched by Saudi Crown Prince Mohammad bin Salman, the New Murabba project will offer more than 25 million sqm of...
- The project will offer a unique living, working and entertainment experience within a 15-minute walking radius and will have its own internal transport system.
- Mukaab, a tech landmark, will be one of the largest built structures in the world, standing 400m high, 400m wide, and 400m long.
Business
Dubai Airport retains top spot as the region’s busiest
The DXB achieved the highest growth rate among the top 10 airports in the number of international passengers worldwide, according...
- The DXB achieved the highest growth rate among the top 10 airports in the number of international passengers worldwide, according to OAG Aviation company
- The latest data shows that the number of airports served by the DXBÂ has increased by 113 percent and has returned to its pre-pandemic levels
Business
Milaha’s profit up by 40%
The company's net profit in 2022 jumped to $278 million.
- The earnings per share (EPS) amounted to QR 0.89 versus EPS QR 0.64 for the same period in 2021
- The board of directors decided to recommend to the general assembly to distribute a 35% cash dividend of the par value of a share, equivalent to QR 0.35 per share
Business
Emaar Properties sales boom
Driven by new projects, its sales in 2022 touch $9.5bn.
- EBITDA and net profit for 2022 increased by 18 percent and 80 percent, respectively, to AED 9.8 billion (US$ 2.7 billion) and AED 6.8 billion (US$ 1.9 billion) compared to 2021
- It reported revenue of AED 24.9 billion (US$ 6.8 billion) in 2022, supported by the continuous strengthening of the Dubai real estate market and growth
Business
Aramco’s digitalization drive set to transform Saudi Arabia’s energy sector
The launch of Aramco Digital follows months after the energy company announced preliminary plans for a strategic collaboration with the...
- The company's journey toward comprehensive digitization began in 2017 when it announced the launch of the Digital Transformation Program
- The launch of Aramco Digital during the seventh edition of IKTVA marks a new and significant stage in digital transformation of Saudi Arabia's energy sector
Business
ADNOC delivers first Middle East LNG cargo to Germany
Abu Dhabi, UAE-- ADNOC and RWE Aktiengesellschaft (RWE) Wednesday announced the successful delivery of the first shipment of Liquefied Natural...
- The shipment of 137,000 cubic meters of LNG is the commissioning cargo for the new floating LNG terminal in Brunsbüttel in Germany.
- The cargo is sufficient to produce approximately 900 million kilowatt hours of electricity, enough to supply approximately a quarter million German homes for a year.
Business
Oil demand to hit record as China reopens, air travel recovers: IEA
Demand is expected to reach 101.9 million barrels per day on average in 2023, an increase of two million barrels...
- The Asia-Pacific region accounts for most of the increase in demand, with China alone accounting for nearly half of the expected 2023 growth after it lifted its zero-Covid policy.
- China's reopening is also expected to boost air travel, which has yet to recover to pre-pandemic levels, driving demand for jet fuel up by 1.1 million barrels per day.
Business
Saudi authority signs aviation safety pact with British CAA
Riyadh, Saudi Arabia-- The General Authority of Civil Aviation (GACA) has signed an agreement with the British Civil Aviation Authority...
- The agreement will help GACA keep up to date with the constant developments in the aviation sector, including issues related to safety.
- The agreement shows GACA’s keenness to ensure the transfer of knowledge and train national professionals in the field, SPA reported.
‘Someone else’ could be running Twitter this year, says Musk
Musk paid $44 billion for his favorite social media platform and exiting day-to-day operations would allow him to deflect criticism...
- Since Musk took full ownership of Twitter on October 27, the platform has been riven by chaos, with mass layoffs, the return of banned accounts and the suspension of journalists
- Musk's takeover also saw a surge in racist or hateful tweets, drawing scrutiny from regulators and chasing away big advertisers, Twitter's primary source of revenue
Business
AD Ports Group 2022 net profit
The Group's revenue grew by 41 percent to AED5.5 billion.
- EBITDA (Earnings before interest, taxes, depreciation and amortization) increased to AED2.2 billion in 2022, up 37 percent YoY.
- Operationally, in the Ports Cluster, container throughput grew to 4.33 million TEUs (twenty-foot equivalent units) in 2022.
Nvidia unveils plan for Taiwan’s first ‘AI supercomputer’
Taipei, Taiwan -- Nvidia boss Jensen Huang announced plans for Taiwan's first "AI supercomputer", as he showcased on Monday the...
Business
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UAE startups eye Saudi Arabia for growth, expansion
With both nations offering substantial markets and supportive environment for innovation, startups are exploring new opportunities in the Kingdom.
Rising threat of lookalike domains poses new challenge
"Detecting these attacks and avoiding falling victim to them is vital, but the ability to take down lookalike domains is...
Opinion
Middle East air cargo volumes up 13.5% in November
Dubai, UAE - Middle Eastern carriers recorded a 13.5% year-on-year increase in cargo volumes, strongest performance in the world. In November...
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Business
EU examines Microsoft large investment in OpenAI
Brussels, Belgium - The EU, racing to regulate the fast-moving world of artificial intelligence, said on Tuesday it has started a...
- The early-level examination is "checking whether Microsoft's investment in OpenAI might be reviewable under the EU Merger Regulation," the European Commission said.
- The move is part of efforts by Brussels to make sure its regulatory oversight can catch up with AI developments and stop major players shutting out competitors.
Business
GSK to buy Aiolos Bio
The focus is on an asthma medication still at the testing stage.
- The acquisition hands GSK access to AIO-001, a long-acting antibody which is ready to enter Phase II clinical development for the treatment of adults with asthma
- AIO-001 was exclusively licensed to Aiolos outside of China by Jiangsu Hengrui Pharmaceuticals, which initially developed the asthma treatment
Business
EVA Air orders 33 Airbus planes
The deal could be worth as much as $8.5 billion.
- The 33 planes ordered include 18 long-range A350-1000 planes and 15 single-aisle A321neo models
- The wide-bodied A350-1000 type can seat up to 410 passengers and travel up to 18,000 kilometers non-stop