Generative AI’s most prominent skeptic doubles down
Vancouver, Canada -- Two and a half years since ChatGPT rocked the world, scientist and writer Gary Marcus still remains...
Interview
Trump fires new 50% tariff threat at EU, drawing stiff response
Washington, United States - President Donald Trump rekindled the US trade war on Friday, threatening to impose a 50 percent...
Economy
Economy
Dubai faces tough fight as GCC nations compete for tourists on digital, social media platforms
The emirate still remains at the top of the list of places to visit in the region because of the...
- Several Arab Gulf countries are ambitiously trying to turn themselves into major tourist destinations, and some have already had considerable success
- Dubai still remains at the top of the list of places to visit in the region because of the sheer diversity of products it has to offer and the infrastructure it has built
Interview
Focus on innovation and sustainability as RAKEZ helps businesses grow
The economic zone supports over 18,000 SMEs and multinational corporations, providing them with simplified processes, customized packages, and digitalized services,...
- The economic zone supports over 18,000 SMEs and multinational corporations, providing them with simplified processes, customized packages, and digitalized services, says Jallad
- RAKEZ offers regular B2B networking opportunities, hosts workshops and seminars, and provides aftercare support to ensure businesses thrive in the UAE and beyond, he adds
Business
Car sales vault in Europe, cross 1 million mark first time since 2021
Paris, France--Sales of new cars jumped last month in Europe, surpassing the level of one million for the first time since...
- Italy posted 40.7 percent jump in car sales while Spain recorded 66.1 percent increase as sales rose in all EU nations
- German carmaker Volkswagen reported high sales, with the group selling 275,753 vehicles across its various brands
Business
United Airlines reports Q1 loss
The US airline posted a quarterly loss of US$194mn.
- United Airlines said that its results were hit by higher costs, especially on salaries and for jet fuel
- But the US carrier expects a rebound in demand for tickets in the coming summer months
Economy
Saudi Arabia’s FDI bid: Economic zones, 100% foreign ownership, tax sops
The kingdom hopes that its regulatory incentives and strategic location would help it compete with the UAE, whose tax-free zones...
- The kingdom's availability of natural resources, organizational changes, and a young population add to its attraction for the investors
- The country has benefited from the rise in oil prices caused by the Ukrainian war and is expected to achieve the G20's highest growth rate
Business
Iraq police arrest more than 200 in raids on ‘illegal casinos’
Baghdad, Iraq--Iraqi police arrested overnight almost 200 people in raids on illegal casinos where alcohol was served in defiance of the...
- According to the interior ministry spokesman, the raids targeted four locations in Baghdad where games of blackjack and roulette were underway
- In Muslim-majority Iraq public consumption of alcohol is frowned upon, although beverages can be readily purchased from liquor stores
Economy
Lebanon postpones municipal elections due to lack of funds
With the cash-strapped country mired in an unprecedented economic meltdown, Lebanon's parliament on Tuesday put off municipal elections scheduled for...
- Citing a lack of funds as the reason, deputy parliament speaker Elias Bou Saab warned last week that "holding municipal elections has become almost impossible"
- Putting off polls was commonplace in Lebanon even before 2019, when the country plunged into an economic crisis described by the World bank as the planet's worst
Science
Green groups sue Europe over false energy label
BRUSSELS, BELGIUM - Environmental groups lodged a lawsuit against the European Commission on Tuesday to challenge its definition of natural gas...
- The lawsuit over gas was launched by WWF, ClientEarth, Transport&Environment and the German NGO BUND.
- Greenpeace, sued the EU executive separately for deciding that nuclear energy was worthy of its sustainable investment label.
Business
Glaxo buys Bellus for US$2bn
Move after GSK demerged its consumer healthcare unit.
- GSK has agreed to buy Quebec-based biopharmaceutical Bellus Health Inc. for $14.75 per share, the British drugmaker said in a statement.
- Chronic cough is defined as a persistent cough that lasts more than eight weeks and affects an estimated 28 million people worldwide.
Business
Ericsson Q1 net profit at $155m Â
Firm announced that it would slash 8,500 jobs worldwide.
- Ericsson said it expects customers "to remain cautious" with investments and continue to adjust their inventories in the second quarter.
- Sales rose 14 percent but were flat when adjusting figures to take currency exchanges and other parameters into account.
Generative AI’s most prominent skeptic doubles down
Vancouver, Canada -- Two and a half years since ChatGPT rocked the world, scientist and writer Gary Marcus still remains...
Interview
Company News
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Water stress levels vary in Arab countries
Infographics
Iran, Turkiye ink contract to connect power grids
Ankara, Turkiye – Iran and Turkiye signed contract to connect their power grids during the visit of Iranian president Ibrahim...
Paris stocks hit record thanks to luxury
Europe's main stock markets shot higher, with Paris closing at a record high as shares in LVMH surged on record...
Market Report
US Federal Reserve’s favored inflation gauge rises before rate decision
The US Federal Reserve's favored measure of inflation ticked higher last month, according to government data published. The latest announcement...
Economy
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Arts & Culture
Riyadh Season 2023 on track to outshine previous edition with over 15m visitors
Riyadh, Saudi Arabia - Riyadh Season 2023 is poised to surpass the record set in 2021, with over 15 million...
- The accomplishment was announced on Wednesday, highlighting the success in achieving the target number of visitors before the conclusion of the event
- Comparatively, the first edition of Riyadh Season in 2019 attracted more than 9.6 million visitors, while the third edition in 2022 saw a turnout of over 13 million visitors
Economy
US economy defy expectations to grow stronger in Q4 2023
Washington, US - US economic growth was stronger than expected in the final months of 2023, government data showed Thursday, offering...
- The US economy expanded at an annual rate of 3.3 percent in the fourth quarter, fueled by a resilient jobs market and consumer spending, the Commerce Department said
- The fourth quarter GDP jump "reflected increases in consumer spending, exports, state and local government spending" and other areas, it added
Economy
ECB to urge patience on rate cuts in battle against inflation
The central bank is tipped to leave rates unchanged for a third consecutive meeting, keeping the benchmark deposit rate at...
- Frankfurt institute launched an unprecedented rate hiking cycle in mid-2022
- ECB watchers will be more interested in president Christine Lagarde's press conference