Google’s new AI for corner kick tactics gets Liverpool approval
PARIS, FRANCE – Liverpool football analysts have given their seal of approval to a new artificial intelligence tool from Google that...
Science
‘GCC set to dominate global cryptocurrency market’
“Oman is emerging as a standout in the regional crypto mining landscape, highlighted by its support of Exahertz, an Omani...
Business
Geostrategy
Greece to get ‘cheaper energy’ from Saudi Arabia
A power cable between the Kingdom and Greece to provide Europe with 'cheaper renewable energy' is one of the several...
- A power cable between the Kingdom and Greece to provide Europe with 'cheaper renewable energy' is one of the several bilateral projects between the two countries
- A strategic partnership has also been announced between the private sectors in the two countries to build a data cable project linking the East and the West
Business
Rolls-Royce picks new CEO
Tufan Erginbilgic replaces Warren East from the start of 2023.
- East is stepping down after a tumultuous eight years in the top role during which time he turned around performance and slashed thousands of jobs.
- Erginbilgic left the British energy major in 2020 and is a partner at private equity firm Global Infrastructure Partners.
Geostrategy
Deals in focus as Saudi crown prince visits Europe
Mohammed bin Salman, who is visiting Greece and France, will meet the leaders of both countries 'to discuss bilateral relations...
- Mohammed bin Salman, who is visiting Greece and France, will meet the leaders of both countries 'to discuss bilateral relations and ways to enhance them in various fields'
- Greek and Saudi private business groups are expected to sign agreements in the fields of maritime transport, aquaculture, waste management, culture, food and agricultural products
Business
EasyJet cuts losses
The airline had taken a sizeable financial hit from disruptions.
- As airport staff shortages spark flight cancellations, EasyJet said it booked a one-off charge totaling £133 m.
- The airline posted pre-tax loss of £114 million in the group's third quarter, or the three months to end of June.
Geostrategy
EU agrees to reduce gas consumption by 15 percent
The usage is reduced to counter the dependency on Russian gas supplies.
- Russian gas giant Gazprom will slash supplies to Europe from Wednesday, threatening economies like Germany.
- 27 European Union members have imposed economic sanctions on Russia to punish it for its invasion of Ukraine.
Business
ECI signs MoU with HFZA, SAIF
The three entities will support Sharjah exporters and re-exporters.
- As per the agreement, ECI will offer its range of flexible trade credit insurance and financial solutions to SMEs in the free zones.
- ECI will also help the companies in the free zones to successfully carry out export to foreign countries.
Business
ADNOC Logistics acquires Zakher
The financial details of the transaction were not disclosed.
- ADNOC L&S will add 24 jack-up barges and 38 offshore support vessels from ZMI, growing its total fleet size to over 300 units.
- Zakher Marine International will continue operating as a standalone entity under ADNOC L&S, led by Ali Hassan El Ali as CEO.
Business
Sono Motors, German start-up, to roll out solar car next year
The Sion, a five-person family car covered completely in solar panels, should enter into serial production in the second half...
- The car, which boasts a battery range of 305 kilometers, is aimed at families as well as car sharing services
- The large black Sion hatchbacks are covered with 456 solar cells which allow it to generate on average enough electricity over a week to power the car 112 kilometers
Business
Al Zamil buys tower for $133m
The saudi developer bought the residential tower in Makkah.
- The company aims to provide high quality development services for luxury housing solutions to support the accommodation and hospitality sector
- Masar Makkah was developed by Umm Al-Qura Co. for the development and construction of services and amenities to serve Makkah residents
Sharjah Airport handles 6 million passengers in H1 2022
The airport also saw considerable growth in the number of flights, with a total of 41,189 aircrafts operating in H1...
- The airport also saw considerable growth in the number of flights, with a total of 41,189 aircrafts operating in H1 this year
- In H1 2022, the airport handled over 96,000 tons of cargo compared to 63,844 tons the previous year, accounting for an increase of 50.39 percent
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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
Google’s new AI for corner kick tactics gets Liverpool approval
PARIS, FRANCE – Liverpool football analysts have given their seal of approval to a new artificial intelligence tool from Google that...
Science
Company News
BAE to acquire Ball Aerospace
Business
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DP World H1 EBITDA $2.6bn
Business
KEZAD Group signs lease agreement with Advanced Petro Services
ABU DHABI, UAE - Khalifa Economic Zones Abu Dhabi (KEZAD) Group, the integrated trade, logistics, and industrial hub of Abu...
Business
Total of 52 MoUs signed in Saudi-Korean Investment Forum
RIYADH, SAUDI ARABIA – A total of 52 memorandums of understanding (MoUs) were signed at the Saudi-Korean Investment Forum here....
Business
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Business
Modon attracts new investments via partnerships with China, Japan
Riyadh, Saudi Arabia -- The Saudi Authority for Industrial Cities and Technology Zones (Modon) has attracted new investments by partnering...
- The agreements are in line with the objectives of the logistics hub master plan launched by Crown Prince Mohammed bin Salman bin Abdulaziz in August 2023.
- The master plan stipulates logistics centers in 17 industrial cities affiliated with Modon, including 11 internal distribution centers.
Business
Invest AD to launch debt fund
Invest AD Blackstone Debt Fund is an SCA-regulated fund.
- The fund will offer local feeder access to Blackstone’s US and European private credit strategies.
- The feeder brings Blackstone’s institutional-caliber credit platform to qualified non-US investors, primarily in the UAE.
Business
Nedaa, Dubai Customs ink MoU
MoU to enhance digital solutions for efficiency.
- The MoU will help to integrate efforts and exchange experiences to improve the level of services provided to various groups and segments of society.
- The two parties will focus on developing an operational mechanism aimed at ensuring a reliable and effective communication network for Dubai Customs,