Bayanat, Yahsat shareholders to vote on merger and creation of SPACE42 on April 25
ABU DHABI, UAE – Bayanat AI PLC and Al Yah Satellite Communications Company each issued a circular on Thursday calling...
Business
Microsoft hires DeepMind co-founder to lead AI unit
Of all the tech giants, Microsoft has moved the fastest into adopting generative AI, integrating its powers into a whole...
Business
e& of UAE to foray into international markets for growth
e&, the UAE telecom firm, is looking to widen its operations overseas and push growth across all business segments.
- The company intends to do this by pursuing regional growth opportunities as well as tapping into markets beyond telecom
- E&’s “telecom arm” will maintain its rebranding in the UAE and internationally
Business
Pakistan’s Fatima Group inks $1billion deals at Expo with Chinese, Saudi firms
Fatima Group, a Pakistani industrial conglomerate, has signed two MoUs of over $1 billion with two key global agriculture stakeholders...
- Fatima Group is known as Pakistan’s fastest-growing industrial conglomerate with investments in fertilizers, textiles, sugar and cement.
- The collaboration is expected to boost agriculture in Pakistani, which has 20 percent of the country’s GDP tied to it.
Business
Saudi stocks post gains in early trading as oil prices decline
Saudi stocks posted gains in the early hours of trading on Sunday due to a dip in the prices of...
- Arabian Mining Co, known as Ma'aden, gained 6.92 percent to top the gainers in early trading after posting a profit of SR5.23 billion ($1.4 billion) in 2021
- Aramco, the largest player in the Saudi oil market, gained 0.97 percent.
Business
‘Pick a side’: Ukraine invasion dilemma for US Big Tech
US Senator Mark Warner wrote to Meta, Reddit, Telegram, TikTok, Twitter and other tech giants to stop Russian disinformation spreading...
- Facebook and YouTube have curbed Russian media's ability to earn money on their platforms following Ukraine's request
- Experts have urged US companies to pick sides in geopolitical conflicts such as the one ongoing in Ukraine
Business
Adnoc arm inks storage deal
AG&P will use an Adnoc L&S vessel as a floating storage.
- The agreement is valid for 11 years, with the option of extension by 4 years
- The two parties have a 2021 agreement to provide another FSU in India
Economy
Sanctions seek to cripple Russian economy as Ukraine invasion continues
The sanctions came as the Russian military stepped up its bloody, multi-pronged assault against Kyiv and other Ukrainian cities.
- The measures were backed by the United States, Canada, the European Commission, Britain, France, Germany and Italy
- In a symbolic gesture likely to resonate in Moscow and the Kremlin, the stunning news was first delivered from Europe
Interview
GCC beauty sector puts best face forward
Consumers are spending more on beauty products and fragrances despite inflation, says Salem Kaissi, Vice-President of multi-brand luxury beauty concept...
- Brands have had to strategize and react quickly to continue resonating with consumers in the market
- According to Euromonitor International, the sector is estimated to be worth $58.3 billion by 2025
Business
Saudi Arabia and UAE drive real estate growth in the region
Saudi Arabia and the UAE are driving the real estate market in the Middle East region with the backing of...
- Kingdom’s residential real estate prices increased by 1.7 percent on an annual basis in the fourth quarter of 2021
- Apartment values in Riyadh and Jeddah accelerated by 17 percent and 12 percent, respectively, in the last 12 months
Business
Cryptocurrencies shine in shadow of Ukraine conflict
Having evacuated part of his team from Kyiv, Mike Chobanian, boss of cryptocurrency exchange Kuna, is watching the effects of...
- "Business is running, but we're in survival mode over here," the 37-year-old boss said during a video call from his current refuge after leaving the Ukraine capital
- The Ukrainian government on Friday imposed sanctions against the rouble, forcing Chobanian to halt cryptocurrency swaps with the Russian currency
Business
Arab world may suffer shortage of bread
Russia's invasion of Ukraine could mean less bread on the table in Egypt, Lebanon, Yemen and elsewhere in the Arab...
- The region is heavily dependent on wheat supplies from the two countries which are now at war
- Bread is already a luxury for millions in Yemen, where a seven-year war has pushed the country to the brink of famine
Bayanat, Yahsat shareholders to vote on merger and creation of SPACE42 on April 25
ABU DHABI, UAE – Bayanat AI PLC and Al Yah Satellite Communications Company each issued a circular on Thursday calling...
Business
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Belt and Road Initiative countries expect more cooperation ahead of China-Arab expo
YINCHUAN, CHINA - In the run-up to the sixth China-Arab States Expo, guests from countries and regions along the Belt...
Geostrategy
TotalEnergies, Adani Group set up JV for wind, solar power production in India
PARIS, FRANCE - French firm TotalEnergies and Indian group Adani unveiled plans on Wednesday to create a joint venture to develop wind...
Business
QFMA launches single window e-portal for listing in Qatari financial markets
DOHA, QATAR - Qatar Financial Markets Authority (QFMA) announced the launch of a single window e-portal, which aims to facilitate...
Business
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Business
Global ambitions fuel Qatar’s investment momentum
Qatar Investment Authority, with a diversified $450 billion portfolio across 60 countries, is adeptly poised to tackle global economic hurdles...
- Qatar Investment Authority, with a diversified $450 billion portfolio across 60 countries, is adeptly poised to tackle global economic hurdles and seize expansion prospects
- Qatar's sovereign fund's notable investments include stakes in Volkswagen, SoftBank, RWE, and Paris Saint-Germain as it focuses on venture capital, fintech and sports sectors
Business
Google’s AI chatbot goes personal tapping into Gmail, YouTube
Google has for years discreetly developed AI powers but was caught off guard when OpenAI late last year released ChatGPT...
- The company said its beefed up chatbot can help users summarize a confusing string of emails into its main points or tap into Google Maps to best locate a holiday destination.
- These so-called Bard Extensions would also be available to retrieve key points from content across Google Docs and Google Drive, including PDFs.
Economy
Stocks diverge as oil hits 10-month high of above $95 per barrel
Brent North Sea crude oil traded above $95 per barrel Tuesday for the first time since November last year, supported...
- The Federal Reserve is seen keeping interest rates on hold Wednesday but is expected to be cautious over the outlook as crude pushes higher.
- In Asian trading, Hong Kong managed a gain while Shanghai was flat. In Europe, London and Paris were in the green while Frankfurt was lower.