OpenAI halts MLK videos as deepfakes spark outrage
Washington, United States -- OpenAI has suspended its Sora 2 artificial intelligence tool from creating videos of civil rights icon...
Geostrategy
Nobel economist warns of AI dangers amid “amazing possibilities”
Washington, United States - A winner of this year’s Nobel prize in economics warned Monday that artificial intelligence offers "amazing...
Economy
Markets in retreat on growing fears of Middle East war
With Benjamin Netanyahu building up a huge force ahead of an expected land incursion into Gaza, Iran has warned of...
- The prospect of an all-out war pushed oil prices up Wednesday, though Washington's decision to suspend some sanctions on Venezuelan output tempered the gains
- Risk aversion among traders was increased by concerns the Federal Reserve would hike interest rates again, or at least keep them elevated for an extended period
Business
Saudi Central Bank to collaborate with monetary authority of Singapore in fintech
Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) signed an agreement with the Monetary Authority of Singapore (MAS) on...
- The agreement seeks to facilitate activities of both organizations in international markets
- It will also provide a framework for cooperation between their innovation departments
Economy
China’s Xi announces over $100 billion in new Belt and Road funding
Beijing has been forced to hand out billions of dollars in bailout loans to BRI countries in recent years to...
- The Belt and Road is a central pillar of Xi's bid to expand China's clout overseas, with Beijing saying it has now inked over two trillion dollars in contracts around the world
- Xi announced on Wednesday that key Belt and Road lenders the China Development Bank and the Export-Import Bank will now offer an additional $100 billion in loans
Economy
China economy growth slowed in third-quarter but beat forecasts
Last year, the economy grew three percent, far from the official target of 5.5 percent, and one of the slowest...
- The 4.9 percent expansion in July-September was helped by forecast-beating retail sales figures and follows a series of broadly positive readings
- But authorities are still on edge over turmoil in the real-estate sector, which has long accounted for a quarter of the country's gross domestic product
Economy
UAE champions multilateral trade, says WTO economist
"The Gulf country is set to host the WTO's 13th Ministerial Conference in the first quarter of 2024 in Abu...
- The UAE will host the WTO's 13th Ministerial Conference in the first quarter of 2024.
- The conference in Abu Dhabi is among the most significant in WTO's recent history
Business
Emirati investments in Turkey reach $5.6 billion in 2022
ABU DHABI, UAE – Ahmet Burak Daglioglu, Head of the Investment Office of the Turkish Presidency, said that the cumulative...
- UAE currently stands as Turkey's 13th largest trade partner for exports and the 15th largest for imports.
- From 2014 to 2022, the total foreign direct investment from Turkey to the UAE amounted to approximately $1.1 billion
Market Report
Markets fall as Biden set for Middle East diplomacy drive
US and European stock markets mostly fell and oil prices rose as US President Joe Biden prepared for a trip...
- Wall Street opened in the red, with the tech-heavy Nasdaq shedding more than one percent, while Frankfurt and Paris fell 0.6 percent afternoon deal.
- "Understandably, not many people are in the mood to put their hard-earned cash at risk in these uncertain economic times," said an expert.
Business
Modon inks 2 MoUs with Saudi Exports, Local Content Authority
RIYADH, SAUDI ARABIA - The Saudi Authority for Industrial Cities and Technology Zones (Modon) has signed two memorandums of understanding...
- The MoU with the development authority entails exchange of expertise in industrial cities management and provision of logistic services and solutions.
- Modon’s MoU with LCGPA aims to achieve integration of local content in industrial cities, exchange experience and practices in institutional innovation.
Business
Saudi Arabia launches bus transport project linking 200 cities
RIYADH, SAUDI ARABIA – The Kingdom’s Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser here launched a significant...
- The project will have a capacity to accommodate six million passengers annually.
- It will operate through three international alliances in three concession areas.
Economy
Qatar’s Industrial Production Index falls 2.1 percent in Aug 2023
Qatar's Industrial Production index (IPI) reached 105.2 points in August 2023, a decline by 2.1 percent compared to the previous month (July...
- The index of the manufacturing sector showed an increase by 2.2 percent in August 2023 compared to the previous month (July 2023).
- Refined petroleum products fell by 0.5 percent. No change noticed in group of printing and reproduction of recorded media.
OpenAI halts MLK videos as deepfakes spark outrage
Washington, United States -- OpenAI has suspended its Sora 2 artificial intelligence tool from creating videos of civil rights icon...
Geostrategy
Company News
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UAE leads solar energy growth with strategic projects
Abu Dhabi, UAE - A new report highlighted the UAE's leadership in the regional solar energy sector, driven by initiatives...
Social media’s evolving role in GCC spotlighted at Doha conference
Doha, Qatar – The Qatar Investment and Innovation Conference, held on Wednesday, at Barahat Msheireb in Msheireb Downtown Doha, brought...
UAE’s satellite, developed by Emirati engineers, launched from California to aid disaster relief and earth observation
With cutting-edge features like high-resolution imaging and electric jet propulsion, MBZ-SAT will enhance environmental surveillance, disaster management, and infrastructure monitoring,...
Science
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Business
Latifa bint Mohammed awards UK’s Simon Squibb with ‘One Billion Award’ at 1 Billion Followers Summit
Dubai, UAE - Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, presented the...
- The award ceremony was held during the third edition of the 1 Billion Followers Summit, the world’s largest gathering dedicated to the content creator economy
- Valued at US$1 million, the award stands as the world’s largest and most significant recognition for impactful content creators
Economy
Fossil fuel demand is high in Central Eastern Europe. Here’s how it can make the energy transition
This “responsible transition” is not only defined by the development principles, but primarily by a selective investment approach in our...
- A responsible strategy for energy transition in Central Eastern Europe must also take into account energy security
- The low-carbon push can also be complemented by conventional energy investments where justified
Business
Content creation key to awareness, culture, human development: Dubai ruler
Dubai, UAE -- Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, attended part of...
- The three day 1 Billion Followers Summit is being held in the UAE at Emirates Towers, the Dubai International Financial Centre, and the Museum of the Future in Dubai,
- For the first time globally, leading platforms including Snapchat, X, YouTube, TikTok, LinkedIn, and Meta (Facebook, Instagram, WhatsApp) have come together in one place