Microsoft to train Philippine women in AI
It will partner with local schools to provide the training.
Business
Musk says will ‘open source’ Grok chatbot, a rival to ChatGPT
Tech investors are increasingly in split camps on the development of AI and how the technology should advance. Companies such...
Business
Study to look at green hydrogen alliance between UAE, UK
A new research paper will explore potential green hydrogen collaborations between the United Arab Emirates and the United Kingdom.
- The report, sponsored by HSBC, will seek to uncover mutual opportunities to accelerate the development of the respective clean hydrogen markets of the UAE and the UK
- Research for the report will include stakeholder meetings and workshops to test and validate findings
Business
Close to 1800 hybrid vehicles to join Dubai Taxi Corporation
Dubai’s Roads and Transport Authority (RTA) has signed a contract for the procurement of 2,219 new vehicles to enhance the...
- The total number of hybrid vehicles in Dubai Taxi fleet jumps to 4,105 vehicles, which constitutes 71% of the total number of taxis operated by the DTC
- The Strategic Plan of the Dubai Taxi Corporation (2021-2023) encompasses 51 initiatives based on key pillars highlighted by increasing the market share of DTC taxis from the existi
Business
Trade between Bangladesh and UAE reaches $1.2 billion in 2021
Trade between Bangladesh and the UAE has reached $1.2 billion in 2021, recording a growth of more than 15 percent,...
- The trade could reach $2billion by the 50th anniversary of the establishment of diplomatic relations in 2024, said Bangladesh ambassador to UAE Mohammed Abu Zafar.
- Bangladesh eyes UAE market with the products like readymade garments, pharmaceuticals, jute products, fabrics and home textiles.
Arts & Culture
Saudi Arabia unveils largest Motor festival in Middle East
The management of Autoville has officially started selling tickets for the events of this International festival through its official website.
- The Autoville festival will cover an area of 1.7 million square meters as the audience will watch the stars of art and display cars from all over the world
- The festival will also showcase the latest developments in mobility, and a number of concerts by a group of Arab and international artists
Business
Bahrain to launch e-residency service in Q1 of 2022
The country also mulled the idea of extending the validity of visas to reduce routine procedures.
- Both sides also discussed cooperation at ports and the possibility to extend the validity of visas to reduce routine procedures
- The NPRA and LMRA agreed to intensify inspection campaigns to tackle violations of the labor market and residency rules
Business
KCB lent $1.31bn in 2021
The Kuwaiti bank’s lending amount was spread across 23,000 loans.
- KCB spokesperson Habari Al-Khashti said the effectiveness of the bank's electronic services saved time and effort for citizens
- She also indicated that 99 percent of the bank’s credit services have become electronic
Business
Gulf Navigation to issue $41m bonds
The company is calling a meeting of all stakeholders for this.
- The company said the date of issuance of the bonds is March 9
- The conversion period of the bonds would be three months from the issuance date
Economy
Saudi Arabia GDP to gain in 2022: Kuwait Financial Center
Government spending on infrastructure projects as part of the Vision 2030 program is expected to boost non-oil GDP growth.
- Markaz’s report indicated that investments are expected to pick up as the government initiates major projects like Neom City
- Steady population growth, government subsidies, and the enacted mortgage law are enabling banks to finance home purchases, fueling the growth in the residential sector
Analysis
GCC at risk from cyber criminals in 2022
Companies are hemorrhaging millions of dollars to ongoing ransomware raids, with threat actors further weaponizing the attacks.
- Ransomware attacks on high-profile organizations grabbed headlines throughout 2021
- Cybersecurity experts believe this criminal enterprise will reach new heights in 2022
Business
EMC picks Mohammad Ghazi as GM
Momani will manage Mercedes-Benz's overall performance at EMC.
- Mohammad Ghazi Al Momani possess an experience of 20 years in motoring and a degree from the University of Technology in Baghdad, Iraq
- Momani specializes in strategic planning, marketing, sales, after sales and operations, and good knowledge of the Middle East
Microsoft to train Philippine women in AI
It will partner with local schools to provide the training.
Business
Company News
Latest News
Markets mostly rise ahead of crucial United States jobs report
Wall Street's three main indexes ended a volatile August on a tepid note Thursday after data showed the Fed's preferred...
Business
Estithmar opens new subsidiary in Jordan
The subsidiary was set up in partnership with a Jordanian company.
Business
Agri-Nutrients SABIC, US firms together support sustainable farming
RIYADH, SAUDI ARABIA - Â Agri-Nutrients SABIC, in cooperation with the American companies ADM and BiOWiSH has helped farmers achieve high...
Business
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Geostrategy
UAE, New Zealand discuss economic cooperation, free trade pact
DUBAI, UAE – Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade discussed deeper economic collaboration,...
- The UAE and New Zealand already share a productive trade relationship, with non-oil trade reaching US$805 million in 2022.
- UAE is New Zealand's leading trading partner in the Arab World, accounting for 2.5 percent of Wellington’s total foreign trade.
Business
SABIC-Sinopec China plant opens
The plant is located in their jointly owned petrochemical firm.
- Sinopec SABIC Tianjin Petrochemical Company, established in 2009, consisting of nine manufacturing units.
- The production capacity of the new polycarbonate factory is 260,000 tons per year.
Business
Saudi Arabia’s consumer spending hits $27bn in July: Central Bank
Riyadh, Saudi Arabia -- Consumer spending in Saudi Arabia increased 2 percent to SAR 104.6 billion ($27.88 billion) in July 2023, from...
- Data showed 745.9 million transactions were processed through 1.64 million POS devices in July.
- POS transactions represent what consumers spend using their ATM and credit cards in shopping malls, retail stores, pharmacies, etc.