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,...
Business
UAE’s Etihad finds ‘no issues’ with engines of A350 fleet: statement
Rolls-Royce said on Thursday it was launching "a one-time precautionary engine inspection programme" which may apply "to a portion of...
Business
Business
Kuwait exports first shipment of quality diesel to shortage-hit Europe
Kuwait City, Kuwait-- Kuwait National Petroleum Company has exported the first shipment of the advanced diesel fuel to the European...
- Kuwait National Petroleum Company shipped 66,000 tons, and the shipment was produced with special specifications that fulfil the European markets' requirements.
- The energy sector in Europe faces unprecedented crisis and upsurge in the prices of electricity and gas, especially after launch of Russian-Ukrainian war.
Economy
Saudi Arabia and Japan bolster energy ties, sign new deals
Seeking to deepen energy ties, Saudi Arabia and Japan have signed two sets of cooperation agreements in the fields of...
- The deal was signed at the first ministerial meeting of the Saudi-Japanese Ministerial Dialogue for Energy in Riyadh
- Nishimura will be in Saudi Arabia, Japan’s largest importer of crude oil, until Monday and will then go to Oman, a supplier of LNG, on Tuesday
Business
Bloomberg denies plan to buy Dow Jones
It refuted reported plan to acquire Wall Street Journal or the Washington Post.
- News website Axios reported on Friday that Bloomberg was interested in acquiring either Wall Street Journal parent company Dow Jones, or the Washington Post
- A spokesperson for the Washington Post, which Bezos bought in 2013 for $250 million, said on Friday it was not for sale
YEARBOOK 2023
UAE leads GCC with 48% share in realty transactions
In the first nine months of 2022, real estate transactions in the region totaled more than US$143bn, surpassing the full-year...
- In the first nine months of 2022, real estate transactions in the region totaled more than US$143bn, surpassing the full-year US$136.9bn figure during 2021, says Kamco Invest
- Strong demand and price gains were witnessed by luxury residential properties, while the affordable segment also witnessed healthy gains, the report highlights
Business
Pact to transform Makkah, Madinah into business hubs for Islamic world
The Makkah Chamber of Commerce, Madinah Chamber of Commerce and the Islamic Chamber of Commerce will sign the agreement at...
- The partnership would boost the business sectors in the holy cities through exhibitions and forums, lectures, workshops and dialogues with decision-makers from the Islamic world.
- Chairman of the Board of Directors of the Madinah Chamber, Munir Muhammad Nasser bin Saad, said the agreement will contribute towards promoting cultural heritage of the holy cities
Economy
UAE Ministry of Climate Change organizes first meeting of Farmers’ Council
DUBAI, UAE - UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri presided over the first meeting...
- The meeting highlighted the government directions to promote sustainable modern farming systems across the UAE.
- The meeting discussed the government's decisions to increase the agricultural sector’s productivity, commercial value and enhance food security.
Business
Export Bahrain, BCCI to facilitate global market access for local businesses
Manama, Bahrain--- Export Bahrain and the Bahrain Chamber of Commerce and Industry have signed an MoU to support Bahrain-based businesses in...
- The two entities will facilitate the business community in Bahrain to attract strategic investment partnerships and enhance the competitive work environment in the Kingdom.
- The access to markets will be enabled through seminars, webinars, workshops and trade exhibitions.
Business
DEWA 9th Sustainability Report showcases its progress in sustainable development
DUBAI, UAE - The ninth Sustainability Report 2021 issued by Dubai Electricity and Water Authority (DEWA) highlights its efforts and...
- The Sustainability Report 2021 introduces partners, relevant entities and all stakeholders to its performance and practices in sustainability.
- The report demonstrates the progress made by DEWA, and its contributions to achieving the United Nations Sustainable Development Goals 2030.
Geostrategy
Saudi grants almost 450,000 metric tons of oil to Yemen
AL-MAHRA, YEMEN - The second batch of the new Saudi oil derivatives grant of 4,491,000 metric tons of diesel was...
- The grant comes as part of the Kingdom's support for the Yemeni people under the directives of Saudi King Salman and the Crown Prince
- It also comes as an affirmation of the Saudi Arabia's keenness to achieve security, stability and development for the Yemeni people
Market Report
Gulf markets fluctuate due to geopolitics, oil prices
Saudi market's primary index fell for the eighth week in a row. Abu Dhabi index fell for four of five...
- First Abu Dhabi Bank, Global Holding and Aldar Properties contributed to the fall of the Abu Dhabi index.
- The drop in DEWA shares price, Emirates NBD Bank among others also contributed to the fall in the Dubai index.
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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
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,...
Business
Company News
DP World, TPA ink pact
Business
New CEO appointed in SRC
Business
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Mobily 9M 2023 profit up 41%
Business
Multiply Group profit soars
Business
Arab meet calls for more investments in renewable energy
Speaking at the 12th Arab Energy Conference organized by the Organization of Arab Petroleum Exporting Countries (OAPEC), Qatar's Energy Minister...
Geostrategy
Russia, Saudi say sovereign Palestine state vital for regional peace
RIYADH, SAUDI ARABIA – Russia and Saudi Arabia expressed concern on the present situation in Gaza and said that a...
Geostrategy
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Business
UAE green bonds and sukuk issuances touch US$4.20bn
According to Mohamed Ali Al Shorafa, Chairman of the SCA Board, the issuance of green bonds and Sukuk is one...
- The chairman of the SCA board applauded the UAE for its commitment to sustainability
- He highlighted the SCA's decision to exempt companies wishing to list from registration fees
Business
EasyLease buys 60% stake in Fully Charged
Fully Charged has expertise in EV charging technology.
- The move marks a significant step for EasyLease, reinforcing its presence in the sustainable mobility sector and establishing a role in the industry's development
- A suite of services, covering home charger installations, corporate charging solutions, and reliable ongoing support, has been instrumental in the success of Fully Charged
Business
TikTok announces online shop deal
Indonesia is TikTok's second-largest global market.
- Indonesia in September banned sales on social media to protect small businesses that were losing out to e-commerce giants
- With 125 million users, Indonesia is TikTok's second-largest global market after the United States, according to company figures