OpenAI says it raised $40 bn at valuation of $300 bn
San Francisco, United States - OpenAI on Monday said it raised $40 billion in a new funding round that valued...
Business
Automakers lead market losses after Trump tariffs on imported vehicles
Wall Street's main indexes opened in the red, with General Motors sinking more than nine percent in early trading while...
Business
Business
Migrant workers watch Messi’s magic on the cheap
Beating their chest in delight, tens of thousands of migrant workers witness Messi's magic in a game that saw Argentina...
- A woman DJ entertains the overwhelmingly male and South Asian crowd before each match with Hindi pop songs and Bollywood videos
- A few thousand 40 riyal ($10) World Cup tickets were put on sale and quickly snapped up
Science
MoCCAE highlights role of UAE Climate Change Research Network
SHARM EL SHEIKH, EGYPT - The Ministry of Climate Change and Environment (MoCCAE) organized an awareness session on the UAE...
- The network aims to support collaborative research programs by creating a platform for engaging the academic and scientific community.
- Drawing the participation of 100 attendees, the event explored several key topics, including promoting science and policy engagement for climate action.
Geostrategy
Faroe Islands renew fishing quota deal with Russia
COPENHAGEN, DENMARK - Denmark's autonomous Faroe Islands have renewed a fishing quota deal with Russia for one year despite Moscow's...
- The agreement between Faroe Islands and Russia has been in place since 1977 and is renewable each year.
- The autonomous territory is highly dependent on fishing for its income and the fisheries ministry says the deal with Russia covers 5 percent of its GDP.
Geostrategy
Iran’s Khamenei says negotiating with US won’t end recent ‘troubles’
TEHRAN, IRAN - Iran's supreme leader Ayatollah Ali Khamenei said Saturday that negotiating with the United States would not put...
- Iran has seen weeks of demonstrations sparked by the September 16 death in custody of 22-year-old Kurdish-Iranian woman Mahsa Amini.
- She had been arrested for an alleged breach of the country's strict dress code for women.
Science
UAE University’s agriculture college launches campaign to cut food waste
AL AIN, UAE - The College of Agriculture and Veterinary Medicine at the United Arab Emirates University launched an awareness...
- The program is targeting schools and universities to educate students about the need to reduce food waste.
- The studies conducted in the food court showed that over 50 kilograms of foods is wasted daily during breakfast and lunch.
Geostrategy
US bans gear from China’s Huawei, ZTE over security risk
US authorities announced a ban on the import or sale of communications equipment deemed "an unacceptable risk to national security"...
- The move is the latest in a series of actions to limit the access of Chinese telecom firms to US networks.
- US officials have shown growing wariness in recent years of Chinese telecommunications companies and technology.
Business
Saudi, UAE equities tank as global crude prices slide
The equities had a lackluster week owing to a decline in global crude oil prices amid fears that the surge...
- The UAE stocks ended their weekly trading on a decline, and the Dubai index recorded a weekly decrease of 1.4 percent
- The Saudi oil company Aramco dropped 1.6 percent, Maaden dropped 1.8 percent, and SABIC dropped 2.1 percent
Business
ADDED joins hands with Prototype to support technology innovation
Abu Dhabi, UAE— The Abu Dhabi Department of Economic Development (ADDED) has partnered with Prototype Interactive to support inventors in...
- Inventors, backed by ADDED’s Takamul programme, will utilise Prototype Interactive’s latest technologies and techniques to develop their ideas
- Since its inception until the end of October 2022, the Takamul programme has evaluated 1,013 patent applications, and supported 377 applications
Business
England team faced ‘unlimited’ sanctions over armband in Qatar
FIFA threatened to impose "unlimited" sanctions against players who wore the "OneLove" rainbow-themed armband for World Cup matches in Qatar....
- Football Association chief executive Mark Bullingham said the FA believed FIFA were effectively threatening to ban players
- England, Wales, Belgium, Denmark, Germany, the Netherlands and Switzerland said they had written to FIFA in September informing them about the "OneLove" armband
Economy
ADAFSA launches first livestock auction market in Abu Dhabi
ABU DHABI, UAE - The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) has announced the launch of the first...
- Other auctions will be organized regularly to enable livestock breeders directly sell their camels to the public.
- The permanent livestock auction market will serve as a destination for those interested in buying camels, cattle and rare animals.
OpenAI says it raised $40 bn at valuation of $300 bn
San Francisco, United States - OpenAI on Monday said it raised $40 billion in a new funding round that valued...
Business
Company News
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Red Sea Global, VAARST join hands for marine ecosystem mapping
TABUK, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the regenerative tourism destinations, is piloting SubSLAM, an...
Business
NCSC seeks to regulate Jordan’s cybersecurity market
AMMAN, JORDAN - National Cyber Security Center (NCSC) seeks to regulate the Kingdom's cybersecurity market by outlining and endorsing the...
Geostrategy
Qatar receives more than 3-million tourists in 2023
Doha, Qatar-- Qatar received more than three million tourists from around the world during the ongoing year, making the oil-rich...
Business
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Business
KIPCO sells its stake in GIG
The deal is valued at 256 million Kuwaiti Dinars ($832 million).
- The purchase price was set at KD two per share, with an adjustment of 54 fils per share to account for the cash distributions GIG made in 2022
- The sale of KIPCO's stake in GIG is seen as a testament to the company's effective strategy of acquiring, expanding, and then timely exiting companies
Business
Turkish Airlines to buy 355 planes from Airbus
Istanbul, Turkey - Turkish Airlines said on Friday it has decided to order 355 Airbus aircraft over the coming decade as...
- "It was decided to purchase 355 aircraft from Airbus," Turkish Airlines chief executive Bilal Eksi said in a social media statement
- The Turkish firm said in a separate corporate filing statement that the purchases would made as part of its "strategic plan" for 2023-2033
Business
ADNOC to buy stake in Fertiglobe
ADNOC to buy OCI’s entire shareholding in Fertiglobe.
- Fertiglobe is listed on the ADX and is the world’s largest seaborne exporter of urea and ammonia combined.
- It is also an early mover in sustainable ammonia, with production facilities in Egypt, Algeria and the UAE.