Saudi tech show LEAP 2024 to close on ‘record-breaking’ note
Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing...
Business
Business
Google making smartwatch in ‘ambient’ computing push
Google is also working on a Pixel tablet computer, which is expected to be released next year.
- Google will launch the Pixel Watch and a new premium Pixel 7 smartphone by the end of 2022, with pricing and other details to be disclosed closer to the launch
- Google's first Pixel smartwatch is expected to integrate health features from Fitbit, which Alphabet bought for $2.1 billion in 2021
Business
Saudi Aramco overtakes Apple as world’s most valuable company
The Saudi Arabian national petroleum and natural gas company, billed as the largest oil producing company in the world, was...
- Oil giant recently reported a 124 percent net profit surge for last year, hours after Yemeni rebels attacked its facilities causing a "temporary" drop in production
- Aramco president and CEO Amin Nasser cautioned that the company's outlook remained uncertain due in part to "geopolitical factors."
Business
Creative sector woos global investors to Gulf region
The regional economies in the creative sector are growing at a faster rate than inflation, says Michael Garin, General Director...
- The regional economies in the creative sector are growing at a faster rate than inflation, says Michael Garin, General Director of Abu Dhabi Creative Authority
- However, profound disruption of supply chains and the availability of critical materials in a timely manner remain a crucial challenge for the Gulf countries
Business
DEWA develops terminals for nanosatellite DEWA-SAT1
The terminals provides hybrid connectivity with both the Long-Range (LoRa) IoT terrestrial network operated by InfraX, and DEWA's nanosatellites.
- DEWA launched it as part of its Space-D program and became the first utility worldwide to use nanosatellites to improve operations.
- DEWA Research Center developed the satellite IoT terminals to connect DEWA's assets to the satellite directly and be suitable for grid applications.
Emirates shares could be placed for IPO, says chairman
The flagship carrier’s chairman, Ahmed Al Maktoum was reported to have announced plans by Emirates to repay 15 billion dirhams...
- The chairman noted that the decision to sell shares to the public is up to the government of Dubai
- The potential IPO will be an extension of an ongoing share-sale spree of government-owned entities
Economy
Abu Dhabi’s non-oil foreign trade in Q1 grows by 15 percent to $16.74 billion
Abu Dhabi’s non-oil foreign trade in the first quarter (Q1) of 2022 amounted to AED61.522 billion ($16.74 billion), a 15...
- Exports grew by 35 percent in the first three months of the year compared to the same period of last year to reach AED24.449 billion.
- Saudi Arabia accounted for the largest share of total trade of 23 percent, valued at AED13.921 billion.
Business
Apple looks to foil secret AirTag tracking with tweaks
Apple said it is working on enabling iPhones to more precisely locate AirTags to help people find any planted without...
- AirTags can be used for synching wirelessly to iPhones, iPads or iPod Touch devices to signal where it can be found
- Reports surfaced of AirTags being secretly stuck on a car to later steal it or find out where the owner is headed to
Business
‘The Rock’ diamond goes under the hammer
The Rock, currently in the hands of an unnamed owner from North America could break records at a sale in...
- The large diamond was extracted from a mine in South Africa in the early 2000s and has been shown in Dubai, Taipei and New York ahead of the sale in Geneva.
- The Rock is up for grabs alongside a historic intense yellow diamond associated for more than a century with the Red Cross, which will receive some of the profits from its sale.
Geostrategy
Emir of Qatar to visit Iran to boost World Cup cooperation
Qatar's emir, Sheikh Tamim bin Hamad al-Thani, is to visit Tehran Thursday following the Iranian president's visit to Doha, Iran's...
- Iranian foreign ministry spokesman Saeed Khatibzadeh said Monday that the Qatari leader would visit Tehran "in response to President Ebrahim Raisi's visit to Doha"
- Ties between Doha and Tehran have grown close over the years, with the two countries sharing the world's largest natural gas field
Economy
China, Europe to lead record renewable energy growth in 2022: IEA
The world will set a new record for renewable power capacity this year led by solar energy in China and...
- An additional 320 gigawatts is expected to be installed this year, equivalent to the entire electricity demand of Germany or the European Union's total generation from natural gas.
- Solar energy will account for 60 percent of renewable power growth in 2022, ahead of wind and hydropower, according to the agency, which advises developed nations on energy policy.
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Company News
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Meta technology chief defends tech titan’s AI strategy
The company launched AI-infused chatbots with personalities at the gathering, along with tools for creating images or written content using...
Business
Old Doha Port signs many agreements during Monaco Yacht Show
Monaco, Monaco--The Old Doha Port has signed several agreements with professional global companies, specialized in yacht during its participation in...
Business
Saudi Arabia projects 2024 budget deficit at 1.9% of GDP
The kingdom's finance ministry estimated expenditures for 2024 to be at US$333.5 billion. According to the ministry, the projection is...
Economy
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Economy
ADB capital reforms unlock $100bn to support Asia and the Pacific region
MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...
- The expansion of available funds will be further leveraged by mobilizing private and domestic capital required to tackle the climate crisis.
- The reforms also create a Countercyclical Lending Buffer to support ADB developing member countries facing unexpected crises.
Geostrategy
The many ways US government shutdown affects people
WASHINGTON, US - The United States is heading toward a government shutdown this weekend with no foreseeable way out of a...
- Sharp disagreements in the Republican Party has prevented passage of the bills needed to keep the government funded and open.
- The credit ratings agency Moody's warned this week that a shutdown would be "credit negative" for US sovereign debt.
Business
Crypto fund co-founder arrested, jailed in Singapore
According to the company's liquidator, Su Zhu was detained at Singapore's Changi airport while trying to leave the city-state. He...
- Kyle Davies, his co-founder, was also committed to four months in prison but "his whereabouts remain unknown"
- The country's monetary authority had banned the pair "from conducting regulated investment activity for nine years each"