Emirates mining company challenges Guinea license withdrawal
Dakar, Senegal -- Mining company Axis International said Monday it was seeking World Bank arbitration against Guinea for withdrawing its...
Business
Billionaire Ellison offers personal guarantee for son’s Warner Bros bid
Washington, United States -- Oracle tech tycoon Larry Ellison is offering a $40.4 billion personal guarantee to back Paramount's hostile...
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Business
Apple unveils new iPhone built for AI, looks to boost sales
Cupertino, United States - Apple on Monday unveiled new iPhones built for generative artificial intelligence as it seeks to boost sales...
- The tech giant has a lot riding on the new iPhone 16 and hopes that customers are enticed to buy the latest models, attracted by new AI powers
- The features are similar to tools recently released by Meta, Microsoft and Google, which can produce well-crafted content simply by querying in everyday language
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...
- Etihad Airways, which operates five of the Airbus A350-1000s, is the only airline in the United Arab Emirates that has this aircraft type in service
- "Etihad has discovered no issues, nor experienced any similar events with the engine, so does not anticipate any impact on its operations," it added
Business
Countries where the X social network is banned and why
Paris, France - With its ban of X, which went into effect on Saturday, Brazil joins a small club of countries...
- Beyond permanent bans, some nations have temporarily restricted access to X, formerly Twitter, which has often been used by political dissidents to communicate
- These have included Egypt in 2011 during the Arab Spring uprisings, Turkey in 2014 and 2023, and Uzbekistan around that country's 2021 presidential election
Business
Apple in talks to invest in OpenAI, creator of ChatGPT: report
Washington, United States - iPhone juggernaut Apple is in talks to invest in OpenAI, the creator of ChatGPT and the biggest...
- The company founded by Steve Jobs is at the funding table as OpenAI raises more money to help meet the heavy costs of building new technology
- Reports said that OpenAI is in talks to reach a valuation of $100 billion in the funding round led by venture capital firm Thrive Capital, which will pump in one billion dollars
2024 Crypto Crime Update Part 2: China-based cybercrime networks on the rise
In part 1 of our mid-year crime update, we discussed trends related to ransomware and stolen funds. While aggregate illicit...
- 43% of YTD scam inflows have gone to wallets that became active this year
- Huione Guarantee, appears heavily used for illicit crypto-based activities, including pig butchering, investment fraud, and money laundering
Nvidia’s forecast dampens AI enthusiasm in other tech stocks
Shares of Nvidia and other technology heavyweights fell late on Wednesday, a discouraging sign for investors betting that a strong...
- Nvidia loses $200 billion in market value
- Investors' high expectations led to disappointment despite Nvidia's strong earnings
Business
Durov: Father of 100 children is a mysterious and controversial Telegram founder
Paris, France - Russian-born tech entrepreneur Pavel Durov has founded wildly popular social networks, cryptocurrencies, amassed a multi-billion-dollar fortune and locked...
- Durov, 39, who preaches the virtues of ice baths for health and has fathered 100 children through sperm donations, is a controversial as well as enigmatic figure
- A self-avowed libertarian, Durov has championed confidentiality on the internet and freedom of speech, defiantly refusing to allow the moderation of messages on Telegram
Chinese EV company Xpeng shares up 6% post mass-market car launch
Xpeng shares rose after the Chinese electric car company launched its new mass-market Mona brand on Tuesday with prices starting...
- Orders for the Mona M03 electric coupe exceeded 10,000 just 52 minutes after formal launch
- Chinese automaker BYD and U.S. giant Tesla cemented their dominance in H1 2024.
Qatar strikes new 15-year 3 mtpa LNG supply deal with Kuwait
Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for...
- Kuwait has been boosting its reliance on imported gas to meet power demand
- Qatar this year announced a further expansion of its North Field project
Business
ExxonMobil expects global oil demand near current levels in 2050
New York, United States - Global oil demand is unlikely to fall by 2050 despite progress on renewable energy, the US...
- In a new report, ExxonMobil said it "sees a plateau in oil demand beyond 2030, remaining above 100 million barrels per day through 2050."
- This would be roughly in line with oil demand last year of 102.2 million barrels per day, according to the International Energy Agency
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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
Emirates mining company challenges Guinea license withdrawal
Dakar, Senegal -- Mining company Axis International said Monday it was seeking World Bank arbitration against Guinea for withdrawing its...
Business
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ADIB H1 pre-tax profit $1.08bn
Business
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UAB net profit up by 50% for H1
Business
Big-ticket events boost international tourism and economic growth
Dubai, UAE -- ‘Big-ticket’ events are playing a pivotal role in driving international tourism and accelerating economic growth, according to...
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...
Business
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Business
Stocks diverge as bitcoin hits record high
Bitcoin hit a new peak at $124,514.59 in Asian trading, before cooling to around $121,500. The world's biggest cryptocurrency is...
- Bitcoin is also winning investor support thanks to strong backing for the cryptocurrency sector from Trump.
- Most European equity indices climbed after major Asian peers ended lower.
Business
TAQA H1 net income $1bn
The group's revenue reached $7.73 billion.
- This growth was led by higher pass-through costs in the Transmission & Distribution (T&D) segment.
- The group reduced its gross debt position to AED61.7 billion, enabled by scheduled repayments and the maturity of a corporate bond.
Business
Musk clashes with Altman after accusing App Store of favoring OpenAI
San Francisco, United States -- Elon Musk has accused Apple of unfairly favoring ChatGPT on its App Store and threatened...
- OpenAI and xAI both released new versions of their AI assistants, ChatGPT and Grok, in the past week.
- App Store rankings listed ChatGPT as the top free iPhone app on Tuesday, with Grok in fifth place.