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...
Business
Qatar strikes new 15-year 3 mtpa LNG supply deal with KuwaitÂ
Qatar agreed on Monday to supply Kuwait with 3 million tons per annum (mtpa) of liquefied natural gas (LNG) for...
Economy
Dubai Health Authority, Visa sign MoU to enhance health tourism
The Dubai Health Authority recently signed a Memorandum of Understanding (MoU) with Visa with the aim of enhancing Dubai's competitiveness...
- Visa cardholders would be given exclusive discounts on medical services by by members of the Dubai Health Experience
- The cardholders will be able to choose a range of medical services, book appointments and plan their treatment itineraries
Business
Dubai records real estate transactions worth $296m on Thursday
Dubai real estate market recorded 379 sales transactions worth AED1.09 billion ($296 million), in addition to 96 mortgage deals of...
- The sales included 359 villas and apartments worth AED755.34 million, and 20 land plots worth AED331.11 million.
- mortgages included 78 villas and apartments worth AED170.89 million and 18 land plots valued at AED148.89 million.
Business
EU lifts sanctions on Syria’s Cham Wings airline
The European Union said Wednesday it has lifted sanctions against Syria's private airline Cham Wings, after the company was blacklisted...
- The EU listed Syria's only private airline saying it had increased flights to Minsk in the summer of 2021 to transport migrants from Belarus to the EU illegally
- Cham Wings flights are limited to a handful of mostly Arab destinations, in addition to Tehran and Moscow, after Syria was slapped with Western sanctions
Economy
Digitization of govt services spurs MENA IT spending
The IT spending in the MENA region will hit US$1.7bn in 2022 as the governments are using technology to streamline...
- Sixty-six percent of total IT spending in 2022 will go toward communication services, which will remain the largest segment
- Global government IT spending is estimated to reach US$565.7 billion this year, up 5 percent from 2021
Science
Are EVs driving towards greener world or uncertainty?
Studies suggest the electric vehicles may not eliminate all emissions even by 2050, particularly those related to mining and battery...
- Recent studies suggest the electric vehicles may not eliminate all emissions even by 2050, particularly those related to mining and battery production.
- Wider adoption of EVs will hinge on affordability which, in turn, is reliant on battery production and robust charging infrastructure
Business
Global medical and recovery tourism worth $100bn annually: Official
The revenues of the medical and recovery tourism, globally, is around $100 billion annually, said Bandar Al Fihaid, President of the...
- Bandar Al Fihaid, President of the Arab Tourism Organization (ATO) said this in a report.
- The ATO president also said that Arab tourists expenditure amounts to nearly $30 billion.
Business
easyJet orders 56 aircraft
The order for single-aisle aircraft is worth $6.2 billion.
- The new jets will over time replace part of easyJet's A319 fleet, whose average age is about 15 years.
- London based easyJet operates more than 300 A320s, making it single biggest operator of the plane.
Business
ADIB H1 net profit $381m
Net profit increased by 30 percent YOY to $381 million.
- The rise in net profit was attributed to top-line growth, continued optimization of the cost base and lower impairments.
- The bank revenue for the first half of the current year improved seven percent to AED 2,838 million compared to AED 2,644 million last year.
Business
Dubai Chamber members’ exports and re-exports $35bn in H1
The Dubai Chamber members' exports and re-exports surged to AED129.4 billion ($35 billion) during H1 2022, marking a 17.8 percent...
- The figure marks a 17.8 percent increase compared to the same period last year.
- The number of certificates of origin issued also rose 8.9 percent year-on-year to exceed 357,000.
Business
Expansion of Qatar’s NFE gas project well timed: Experts
Having revealed the list of companies chosen for expanding the North Field East (NFE) gas field, Qatar implements the first...
- Qatar's revenues are expected to rise by $40 billion after the first phase of expansion is completed by 2025.
- TotalEnergies, ExxonMobil, ConocoPhillips, Eni, and Shell had won earlier this year contracts to develop NFE, whose investment costs stand at about $28.75 billion.
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...
Business
Company News
Evergrande posts H1 loss
Business
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stc Group begins work in Europe
Business
DEWA discusses cooperation in renewable energy with German delegation
Dubai, UAE-- Dubai Electricity and Water Authority (DEWA) has held discussions with a delegation from Germany on how to boost...
Business
‘Business-based peace initiatives to ease tensions’
The Ukraine-Russia conflict and Gaza crisis are impacting investor confidence and economies in Jordan, Egypt, and Israel, Iyad Malas, CEO...
Interview
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Business
Disney to buy stake in Hulu
It will acquire Comcast's US$8.6 billion stake in Hulu.
- The acquisition will "further Disney's streaming objectives," the company said in a press release
- The deal values Hulu at $27.5 billion in total, and the transaction will be concluded by December 1
Business
Middle East conflict alters regional energy dynamics
Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact...
- Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact of geopolitics on energy security.
- Achieving peace in the Middle East region is crucial, not just for the well-being of its people but also for maintaining global economic stability and energy security.
Business
Drought forces Panama Canal operator to cut ship traffic
Panama City, Panama - The operator of the Panama Canal, the passageway for cargo ships between the Atlantic and Pacific oceans,...
- Traffic will be reduced to 25 ships a day from Friday, down from 29, and will drop to 18 ships a day by February, the Panama Canal Authority said
- The 50-mile (80-kilometer) long waterway provides direct access between the Atlantic and Pacific oceans, bypassing the South American continent