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...
UAE’s e-commerce sector projected to earn $9bn revenue in 2024
Dubai, UAE - The UAE's online shopping market is gearing up for unprecedented growth, with revenue projections hitting $9 billion...
Business
Business
Sony arm to make EVs
The Sony Mobility subsidiary will be created in spring 2022.
- The Japanese firm Sony announced the founding of a new EV company to dive into the world of electric mobility
- Sony's Vision-S electric vehicle, with internal and external sensors, is being used to test autonomous driving technologies
Business
What cyberthreats can Middle East expect in 2022?
Cyberattacks in the Middle East hit record levels in 2021. Reports suggest that malware, distributed denial of service (DDOS) attacks,...
- Malware, DDOS attacks, ransomware, grew by double digits in 2021
- Vulnerabilities in network devices and 5G, and advanced ransomware attacks will be major concerns
Business
Leaked memo says rusty Qantas pilots making errors: report
Qantas recognised very early that it needed to reassess pilots' recent and current flight time requirements as well as its...
- Among the errors listed in Qantas pilot reports: starting take-off with the parking brake on and misreading the altitude as airspeed
- The memo by Qantas' fleet operations chiefs reportedly said the Covid-19 related disruption to flights meant pilots had less recent flight experience
Economy
Jordan to set up US$80m industrial support fund
Jordanian Minister of Industry, Trade and Supply Youssef Shamali noted that industrial production inputs will continue to be exempt from...
- Jordanian Minister of Industry, Trade and Supply Youssef Shamali noted that industrial production inputs will continue to be exempt from any customs duties
- He said that the Jordan Enterprise Development Corporation (JEDCO) will continue to support the industrial sector by covering part of shipping costs
Economy
Moroccan tour operators protest pandemic restrictions
About 200 industry workers demonstrated in front of the tourism ministry in Rabat, demanding the reopening of borders.
- About 200 industry workers demonstrated in front of the tourism ministry in Rabat, demanding the reopening of borders
- Morocco suspended all passenger flights from November 29 until January 31 as a result of rising infections of the Omicron variant worldwide
Business
Space business takes centerstage as CES tech show begins
The display of technology like the life-size model Dream Chaser ship at the CES tech show is a sharp signal...
- Companies have proposed a series of ideas which until recently sounded like long shots, such as asteroid mining
- They have also suggested less far-fetched biomedical applications or production of some types of technology
Business
Expo opportunity to boost Sri Lanka’s tourism: Minister
Foreign Minister of Sri Lanka Gamini Lakshman Peiris said that Expo 2020 Dubai is a great opportunity and a world-class...
- Sri Lankan Ministry of Tourism says 104,000 people visited the country between Jan and Feb 2021 with Indian tourists accounting for 32.1 percent.
- The presence of nearly 300,000 Sri Lankan citizens in the UAE helps enhance the bilateral ties between the two countries, the minister said.
Business
Construction of DP World port in Senegal begins with laying of first stone
President of Senegal Macky Sall on Tuesday laid the foundation stone for the construction of a port that will be...
- The investment of more than $1.13 billion in two phases to develop Port Ndayane is DP World’s largest port investment in Africa to date.
- Phase 1 of the development of the port will include a container terminal with 840m of the quay and a new 5-kilometer marine channel.
Opinion
Five top crypto trends to watch out for in 2022
In 2021, the total market capitalization for the crypto market increased from around $800bn to $2.2trn. The year also witnessed...
- Non-fungible tokens, known as NFTs have been the crypto trend of the year.
- The highly anticipated update of the second-largest cryptocurrency Ethereum is expected to go live in Q1 or Q2 named ETH 2.0.
Economy
Iraq highlights prominent investment opportunities
Iraqi's granting facilities to investors including regulations in completing transactions and eliminating corruption and providing safe environment renewed many hope...
- Recent moves of Iraqi government aim at provide large projects to create job opportunities and services in the country
- A number of measures must be taken as investment in Iraq does not meet the required level, says specialists
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...
Company News
Latest News
UAE industrial, business sectors see 4% rise in cumulative credit balance by H1 2023
ABU DHABI, UAE - Credit facilities provided by national banks to the business and industrial sectors rose by US$7.7 billion...
Business
Global construction industry projected to reach $12.9 trillion by 2028
Dubai, UAE -- The global construction industry is projected to reach a staggering $12.9 trillion by 2028, with a robust...
Business
ADGM’s Registration Authority fines KPMG Lower Gulf $30,000
Abu Dhabi, UAE -- The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has fined ADGM-registered audit firm, KPMG...
Business
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Geostrategy
Qatar Credit Bureau, Supreme Judicial Council to share data
DOHA, QATAR - Qatar Credit Bureau signed a memorandum of understanding (MoU) with the Supreme Judicial Council (SJC) pertaining to...
- The primary objective of this cooperation is to regularize the electronic connection between the bureau and SJC.
- SJC will supply the bureau with the outcomes of the rulings related to its work in quest of achieving data accuracy.
Business
Saudi Arabia’s oil exports down 33.4 percent in second quarter
Riyadh, Saudi Arabia -- Saudi Arabia's oil exports fell by 33.4 percent to SAR 227.7 billion ($60.70 billion), from SAR...
- The value of exports amounted to SAR 291.6 billion in Q2 2023, down from SAR 427.8 billion in Q2 2022.
- The share of oil exports in total exports decreased from 79.9 percent in Q2 2022 to 78.1 percent in Q2 2023.
Business
Borouge to pay $650m H1 dividend
The interim dividend is equivalent to 7.9 fils per share.
- The interim dividend will be paid to shareholders who have purchased Borouge shares as of 7 September 2023.
- This represents the first part of the expected total FY 2023 dividend of $1.3 billion (AED4.8 billion), equivalent to 15.8 fils per share.