Backed by its sovereign wealth fund, Saudi chases AI ambitions with homegrown firm pitched to global investors
The company, launched in May, is bankrolled by Saudi's powerful Public Investment Fund, which has played a key role in...
Economy
China vows massive high-tech sector development in next decade
Beijing, China -- China will develop its high-tech sector on a massive scale in the next decade, top officials vowed...
Economy
Business
European banks lack transparency on green finance: NGO
ShareAction said banks amplify "green credentials to their customers and shareholders" but there is a "structural" lack of transparency on...
- Only four banks have demonstrated how they have calculated green finance targets
- The study questioned some decisions being counted towards meeting green finance targets
Economy
UAE approves official holidays calendar for govt, private sectors for 2024
UAE, Dubai - UAE has approved the year 2024 official holidays calendar for both public and private sectors. As part of...
- The resolution aims to enable all community members working in various sectors in the UAE, as well as families, to plan ahead for holidays, travel and personal activities
- The UAE public holidays calendar includes 12 Rabi` al-Awwal 1446 AH which marks the Prophet Mohammed’s (PBUH) birthday, and 2, 3 December as the National Day holidays in 2024
Economy
MENA’s $2trn construction boom boosts sustainability
With innovative technologies and a focus on reducing emissions, this transformation could position the region as a global leader in...
- With innovative technologies and a focus on reducing emissions, this transformation could position the region as a global leader in sustainable urban development.
- The region sees a unique chance to pioneer sustainable technologies, potentially reducing lifecycle emissions by 50-60%, highlights Strategy& Middle East and Dar.
Business
Northvolt says it develops new sodium-ion battery
Stockholm, Sweden - Battery group Northvolt said on Tuesday it had developed a new sodium-ion battery, a technology using less critical...
- Sodium-ion batteries are viewed as a cheaper and in some respects safer alternative to the lithium-ion batteries.
- While sodium-ion technology has been around for decades, it has lagged lithium-ion batteries in performance.
Economy
Tax havens only half the story, says OECD
Paris, France - Tax havens are blamed for lower public revenues elsewhere as they lure away multinational firms but a study...
- Half the profits booked by multinationals benefitting from low tax rates were from countries that have high rates but offer various tax breaks to attract investments.
- "Many jurisdictions typically considered (to be) 'high tax' offer various incentives which can lead to substantially reduced tax rates," said the report further.
Business
DTC sets IPO offer price range
Final offer price will be fixed through a book-building process
- The company announced that the offer price range had been set between US$0.49 (AED1.80) and US$0.5 (AED1.85) per share.
- This implies a market capitalization at the time of listing of between US$1.2 billion (AED4.5 billion) and US$1.25 billion (AED4.6 billion).
Opinion
AI, Industry 4.0 transform Middle East manufacturing
"As we look ahead, the manufacturing landscape is set to continue evolving, navigating through the VUCA (volatility, uncertainty, complexity, and...
- Saudi Arabia, the UAE, and Egypt spearhead the Middle East's manufacturing growth, harnessing AI and Industry 4.0 to revolutionize their economic landscape.
- In 2024, Middle Eastern manufacturers will focus on smart manufacturing, AI-enhanced supply chains, and digital ecosystems, driving sustainable growth in a pivotal year.
Economy
Strains emerge in 72-year-old Türkiye-Israel trade ties
Amid Ankara's criticism of Israel's actions against Gaza and Israel reassessing diplomatic relations, the future of their oil and steel...
- Amid Ankara's criticism of Israel's actions against Gaza and Israel reassessing diplomatic relations, the future of their oil and steel economic partnership becomes uncertain.
- In 2022, Israel exported $2.34 billion worth of goods to Türkiye, while Türkiye's exports to Israel amounted to a substantial $7.03 billion, the latest trade figures point out.
Business
48,616 firms register with Dubai Chamber of Commerce in January-September 2023
DUBAI, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has...
- The total value of exports and re-exports of member companies reached $57 billion in January- September 2023.
- The strong growth underlines Dubai’s attractiveness among both companies and investors,
Economy
UAE unveils ‘roadmap’ to reduce food waste by 50 percent
Dubai, UAE--In order to reduce food loss and waste by 50 percent, the UAE has launched Ne’ma Food Loss and...
- The initiative was unveiled at the fourth national dialogue on Food Security organized by the Ministry of Climate Change and Environment with ne’ma
- The minister said the roadmap will be a collective effort to bring down food waste by setting up new social norms, policies across the food ecosystem
Backed by its sovereign wealth fund, Saudi chases AI ambitions with homegrown firm pitched to global investors
The company, launched in May, is bankrolled by Saudi's powerful Public Investment Fund, which has played a key role in...
Economy
Company News
Latest News
US Fed likely to keep rates steady as uncertainty over Trump’s economic policies looms
Since January, Trump has imposed levies on major trading partners Canada, Mexico and China, and on steel and aluminum imports,...
Economy
The future of logistics: Insights from DHL’s Amadou Diallo
The future of logistics is a convergence of technology, sustainability, and human ingenuity, which are transforming supply chains into more...
Interview
Humanity’s future is increasingly inseparable from AI
Private sector, governments, and nonprofits must invest in AI education, Jason Alan Snyder tells TRENDS in an exclusive interview.
Economy
Most Read
Economy
A new era of economic growth and productivity with AI
The technology will likely automate millions of jobs, Mark J. Penn, a US businessman, political strategist, and author tells TRENDS...
- AI is the driving force in productivity and technology for the next few years, Mark J. Penn tells TRENDS
- AI will give tech innovators the ability to create the next generation of robots and homebots, he adds
Science
From healthcare to finance: How AI is reshaping global industries and GCC economies
A study by the World Economic Forum reveals that AI could replace around 85 million jobs by 2025
- KPMG’s recent global study on AI in finance found that the use of AI is rapidly expanding across corporate finance
- 71% of companies surveyed are using AI within finance operations, while 41% of them use it to a moderate or significant extent
Geostrategy
US trading partners hit back on steel, aluminum tariffs
The steep 25-percent levies came into place after midnight with no exemptions despite countries' efforts to avert them, in a...
- Canada, which is heavily exposed to the US steel and aluminum levies, announced additional tariffs of CAN$29.8 billion ($20.7 billion) on US goods, coming into force Thursday.
- Uncertainty over Trump's trade plans and worries that they could tip the world's biggest economy into a recession have roiled financial markets.