Meta buys China-founded AI agent Manus
Singapore, Singapore -- Facebook owner Meta has agreed to acquire Manus, an artificial intelligence agent created by a company founded...
Business
Tech stocks lead Wall Street higher, gold hits fresh record
Tech firms also led the rally in Asia, with South Korea's Samsung Electronics, Taiwan's TSMC and Japan's Renesas among the...
Business
Business
UAE backs Egypt’s Ras El Hekma megaproject, aims for $110 billion investment
Abu Dhabi, UAE - The UAE Ministry of Investment (MoI) announced today its support and key role in the advancement...
- Located approximately 350 kilometres northwest of Cairo, the Ras El Hekma project has garnered significant interest from Emirati investors
- Modon Holding, the master developer for the Ras El Hekma megaproject, will steer the project in partnership with prominent partners from Egypt
Business
MGX participation confirmed in OpenAI’s US$6.6bn in new funding, valuing it at US$157bn
OpenAI has finalized a deal to receive US$6.6 billion in new funding from investors who valued the company at US$157...
- Backers expect OpenAI’s chatbot to become much more widely used and haul in huge profits
- MGX is targeting some of the world's biggest scale global technology investments
Business
Waldorf Astoria to open in Madinah by 2028
With more than 300 luxury rooms, three dining concepts, and various facilities, the hotel will merge global luxury with Madinah’s...
- Set to open in 2028, Waldorf Astoria Al Madinah will be located near the Prophet’s Mosque
- The new project will be a symbol of the Kingdom's aspirations
Business
Microsoft beefs-up its AI assistant with voice, vision
San Francisco, United States - Microsoft on Tuesday doubled down on deploying artificial intelligence to consumers, releasing an updated version of...
- Suleyman was a former leader at AI pioneer Google DeepMind -- and was poached by Microsoft in March from his startup to head up its consumer AI division
- It has since been caught by Google and soon Apple, which are using their dominance of the global smartphone market to get their own AI tools to consumers
Business
GM reports US sales dip, that of EVs grew
The big Detroit automaker reported 659,601 US sales during the period.
- The big Detroit automaker reported 659,601 US sales during the period, down 2.2 percent from the year-ago but marking a slightly smaller decline than analysts projected
- GM described its EV portfolio as "growing faster than the market" with sales jumping 46 percent in the third quarter, topping 32,000
Business
Qatar Airways seeking 25% stake in Virgin Australia
Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal...
- The deal could significantly shake up Australia's air travel market which is currently dominated by Qantas
- In 2023, Australia's center-left government rejected Qatar's bid to put on 21 extra international flights to and from Australia
Business
OpenAI chief technology officer Mira Murati leaving company
San Francisco, United States - OpenAI chief technology officer Mira Murati on Wednesday said she is leaving the company behind ChatGPT,...
- Murati called her more than six years at the San Francisco-based company "an extraordinary privilege" and described her decision to leave as difficult in a post on X
- OpenAI chief Sam Altman replied to Murati's post with his thanks for what Murati has helped the company build, and promised details on a transition plan soon
Economy
No peak oil demand ‘on the horizon’, phaseout a ‘fantasy’: OPEC
Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would...
- The oil cartel's prediction runs counter to the assessment of the Paris-based International Energy Agency, which sees demand for fossil fuels peaking this decade
- In the group's annual World Oil Outlook (WOO), OPEC Secretary General Haitham Al Ghais said oil and gas make up well over half of the energy mix today
Business
Boeing lifts wage hike to 30%
The 30% general wage hike improves upon the 25% in the earlier offer.
- The International Association of Machinists and Aerospace Workers District 751 walked out on September 13, in a strike involving 33,000 workers in the Pacific
- The 30 percent general wage increase improves upon the 25 percent in the earlier offer, which was initially endorsed by IAM leaders
Business
Microsoft cutting more jobs from its gaming unit amid industry layoffs
San Francisco, United States- Microsoft is cutting about 650 more positions from its gaming unit as it continues to tighten its...
- No games or devices are being cancelled, nor are any studios being closed as part of the "adjustments" made at Microsoft's gaming unit on Thursday, according to Spencer
- Layoffs have become common in the video game industry, with Sony PlayStation early this year announcing it was laying off eight percent of its global workforce
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
Meta buys China-founded AI agent Manus
Singapore, Singapore -- Facebook owner Meta has agreed to acquire Manus, an artificial intelligence agent created by a company founded...
Business
Company News
Emirates NBD H1 profit $3.40bn
Business
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ADIB H1 pre-tax profit $1.08bn
Business
Google packs new Pixel phones with Artificial Intelligence
New York, United States -- Google on Wednesday unveiled new Pixel 10 smartphones, showcasing artificial intelligence (AI) capabilities woven into...
Business
Turkish Airlines says offer to buy stake in Spain’s Air Europa accepted
Turkish Airlines on Tuesday said Air Europa had accepted its 300-million-euro ($350 million) offer to purchase a minority stake in...
Business
Google and Australia’s national newswire strike AI deal
Sydney, Australia - Australia's national newswire has agreed to provide content to Google's Gemini artificial intelligence to improve its responses,...
Business
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Business
Dubai International Chamber attracts 31 MNCs to Dubai in H1
Dubai, UAE -- Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has announced...
- It attracted 143 companies to Dubai during H1 2025, representing a 138 percent increase compared to the 60 companies attracted in H1 2024.
- A total of 112 small and medium-sized enterprises (SMEs) were attracted during H1 2025.
Business
Aramco signs $11bn deal
The deal involves its Jafurah gas facilities.
- Jafurah is the largest non-associated gas development in the Kingdom of Saudi Arabia, estimated to contain 229 trillion standard cubic feet of raw gas.
- It is a key component in Aramco’s plans to increase gas production capacity by 60 percent between 2021 and 2030.
Business
Larry Fink, André Hoffmann take interim helm at WEF, pledge renewed push for global cooperation
The World Economic Forum has named BlackRock CEO Larry Fink and Swiss entrepreneur André Hoffmann as interim co-chairs, with both...
- “We are honored to take on this leadership role on an interim basis at a pivotal time for the World Economic Forum,” Fink and Hoffmann said in a joint statement
- The two leaders stressed that the WEF is uniquely positioned to bridge divides a time when the world more fragmented and complex than ever