AI as the next frontier: Opportunities for channel partners to lead the way
AI offers an infinite number of selling and upselling opportunities. Resellers with the right strategic long-term approach will clearly develop....
Business
Samsung reshuffles leadership amid challenge in AI chips
Seoul, South Korea - Samsung Electronics reshuffled its leadership on Wednesday as it looks to gain an edge in the production...
Geostrategy
Business
UK’s richest family get jail terms for exploiting staff at Swiss villa
Geneva, Switzerland -A Swiss court handed jail sentences to four members of Britain's richest family on Friday, branding them "selfish" for...
- The Hindujas were acquitted of human trafficking, but convicted on other charges in a stunning verdict for the family, whose fortune is estimated at 37 billion pounds
- Prakash Hinduja and his wife Kamal Hinduja each got four years and six months, while their son Ajay and his wife Namrata received four-year terms
Oil and gas industry hops on generative AI bandwagon
In recent years the downstream industry, which includes refineries that process crude oil into gasoline, has increasingly relied on so-called...
- Long before the current craze surrounding generative AI, the energy sector employed traditional artificial intelligence through its use of data to identify oil and gas deposits
- The new AI programs can also be employed broadly in the workforce instead of being limited to programmers and data analysts, as has been the case with traditional AI
Business
Intel suspends expansion of factory plan in Israel
New York, United States - Intel is halting the expansion of a major factory project in Israel, which was going to...
- The chip giant in December said it was going to expand an ongoing $10 billion plan at the Kiryat Gat site, in the south of the country, currently under construction
- Solicited by AFP, Intel on Monday gave no reason for the pause for the next phase and made no link to the ongoing conflict with Hamas in Gaza
Business
Saudi Aramco says foreigners grab ‘majority’ of share offering
Riyadh, Saudi Arabia - Oil giant Saudi Aramco said Sunday that international investors had snatched up the bulk of shares sold...
- Aramco ended trading on Sunday at 28.60 Saudi riyals ($7.63) per share, after opening at 27.95 riyals, giving it a market capitalisation of around $1.85 trillion
- Aramco, the mostly state-owned jewel of the Saudi economy, announced on May 30 that it would sell 1.545 billion shares, or approximately 0.64 percent of its issued shares
Business
Chinese electric car company Nio to enter UAE this year
Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an...
- Nio, which recently received funding from Middle East-based investors, saw record-high deliveries of 20,544 vehicles in May
- Rival BYD Â has also made the UAE its entry point to the Middle East
Business
JPMorgan to launch ‘Pay With Your Face’ Shopping
JPMorgan Chase is reportedly preparing to launch a biometric payments system for the masses, the Daily Hodl reported quoting the American...
- 28% of consumers have used facial recognition for an online purchase in the last 30 days
- Â 3 billion people will pay using biometrics by 2026, with global transactions hitting $5.765 trillion per year
Business
IATA urges Pakistan, Bangladesh to release blocked airline funds
The International Air Transport Association on Tuesday urged Pakistan and Bangladesh to remove barriers to airlines repatriating ticket revenues after...
- Pakistan and Bangladesh collectively owe $731 million in blocked airline funds
- Boeing, Airbus, face scrutiny over safety and manufacturing standards
Business
Dubai SME, Danube Group partner to aid Emirati-owned SMEs
Dubai, UAE – Danube Group, a leading conglomerate in the Middle East and Dubai SME, a subsidiary of the Dubai...
- The strategic partnership aims to attract private sector buyers from various industries, offering Dubai SME-listed members and suppliers a broader range of tender opportunities
- By including private sector buyers, the program opens new avenues for growth and business expansion, enhancing the market reach for Emirati-owned SMEs
Business
Airlines expect over $30 bn in profits and passengers to hit nearly five billion in 2024: IATA
The International Air Transport Association (IATA) announced strengthened profitability projections for airlines in 2024 compared with its June and December...
- Total revenues expected to reach $996 billion in 2024, countered by total expenses estimated at $936 billion
- Airlines may not replace pilots with AI but the new tech is already revolutionizing the business
Business
Oil giant Aramco says to offer shares worth over $10 bn on Saudi bourse
Riyadh, Saudi Arabia - Oil giant Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than...
- In a statement posted to the Saudi stock exchange, Aramco announced a secondary public offering of 1.545 billion shares
- The sale on the local bourse, which represents approximately 0.64 percent of the company's issued shares, will commence on Sunday
AI as the next frontier: Opportunities for channel partners to lead the way
AI offers an infinite number of selling and upselling opportunities. Resellers with the right strategic long-term approach will clearly develop....
Business
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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...
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...
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...
Business
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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