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Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

The fight over a ‘dangerous’ ideology shaping AI debate

Paris, France - Silicon Valley's favorite philosophy, longtermism, has helped to frame the debate on artificial intelligence around the idea of...
  • Silicon Valley's favorite philosophy, longtermism, has helped to frame the debate on artificial intelligence around the idea of human extinction.
  • But increasingly vocal critics are warning that the philosophy is dangerous, and the obsession with extinction distracts from real problems associated with AI like data theft.

stc Group begins work in Europe

stc’s subsidiary TAWAL buys assets in eastern Europe.
  • TAWAL aims to ensure a reliable and efficient ICT infrastructure network to all mobile networks operators in the market.
  • TAWAL aims to bring significant investments, best processes and practices, as well as innovative products to its portfolio.

AI risks repeating social media mistakes, says Microsoft president

NEW DELHI, INDIA - Breakneck development of artificial intelligence risked repeating mistakes made by the tech industry at the start of...
  • AI tools have shown in recent months the ability to generate essays, create realistic images, mimic voices of famous singers and even pass medical exams
  • But there are also worries that chatbots could flood the internet with disinformation, that biased algorithms will churn out racist material

All eyes on tech firms as strict EU digital rules come into effect

The landmark Digital Services Act (DSA) compels tech companies to better police content to protect European users against disinformation and...
  • The first phase of the regulation affects 19 "very large" digital platforms including social media networks, websites and online retailers with at least 45m monthly active users.
  • They are: Alibaba AliExpress, Amazon Store, Apple AppStore, Booking.com, Meta-owned Facebook and Instagram, Google's Maps, Play, and Shopping, LinkedIn, Pinterest.

India first nation to land spacecraft near Moon’s south pole

The landing of the unmanned Chandrayaan-3, which means "Mooncraft" in Sanskrit, comes days after a Russian probe crashed in the...
  • The Chandrayaan-3 mission has captivated public attention since launching nearly six weeks ago in front of thousands of cheering spectators.
  • Chandrayaan-3 took much longer to reach the Moon than the Apollo missions in the 1960s and 1970s, which arrived in a matter of days.

e& capital invests in Maxbyte

The funding aims to expedite growth by bolstering sales team.
  • Maxbyte is a leading provider of Industry 4.0 solutions with a strong presence in the automotive, defense, utilities, and food and beverage sectors.
  • It aims to enable smart connected industrial enterprise for flexibility, productivity, predictable revenue and profit growth, as well as sustainability.

Microsoft submits new Activision deal

A previous version of the acquisition deal was blocked.
  • Xbox-owner Microsoft launched a bid for Activision Blizzard early last year, seeking to establish the world's third biggest gaming firm by revenue.
  • Britain's Competition and Markets Authority said it has "opened a new phase 1 investigation into the restructured deal by Microsoft to buy Activision".

Generative AI likely to supplement than destroy jobs: ILO

Geneva, Switzerland -- Generative Artificial Intelligence (AI) is more likely to augment than destroy jobs by automating some tasks rather...
  • An International Labour Organization (ILO) study has found most jobs and industries are only partly exposed to automation and are more likely to be complemented by Generative AI.
  • It suggests this new wave of technological transformation could offer important benefits for developing countries.

Saudi Arabian Crown Prince launches KAUST’s new strategy

RIYADH, SAUDI ARABIA - Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Prime Minister and Chairman of KAUST Board...
  • Strategy aims to transform research into economically productive innovations by focusing on national priorities for research, development and innovation.
  • It aims to strengthen KAUST’s partnerships with both the public and private sectors, which will contribute to achieving the objectives of Vision 2030.

Cloud-based tools help optimize customer experience

Customer experience leaders in organizations of any size will see increased satisfaction in self-service, routing, and agent utilization by implementing...
  • Seventy percent of consumers believe a company's effectiveness is determined by its service
  • New tools help automate tasks, provide data and insights, inform decisions, and improve workflow

White House rolls out ‘concrete safeguard’ policies for federal AI

Washington, US - "Concrete safeguards" for government use of artificial intelligence were announced by the White House on Thursday, as it...

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Mac computers could reach new glory due to AI

SAN FRANCISCO, US - Forty years after igniting a PC revolution, Apple's Mac is stronger than ever and could reach new...

AI and death: Sundance films grapple with our digital afterlife

Park City, United States -- Artificial intelligence promises to make death "optional," as the technology learns to perfectly emulate our personalities,...

Healthcare industry globally faces data hacking threat

DUBAI, UAE - In an age where data is a cornerstone of modern healthcare, the industry faces an escalating threat...

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Google CEO says more layoffs are likely this year

SAN FRANCISCO, US - Google CEO Sundar Pichai has warned employees that more layoffs are in store at the search engine...
  • Google laid off around 12,000 people this time last year, about six percent of its workforce, in the face of inflation and rising interest rates.
  • The company confirmed it is eliminating "a few hundred" positions from its global ad team, amid a push to use AI for efficiency and creativity.

Japan literary laureate admits using ChatGPT for her novel

TOKYO, JAPAN - The winner of Japan's most prestigious literary award has acknowledged that about "five percent" of her futuristic novel...
  • The 33-year-old author of Tokyo-to Dojo-to openly admitted that AI heavily influenced her writing process as well.
  • Set in a futuristic Tokyo, the book revolves around a high-rise prison tower and its architect's intolerance of criminals.

Aramco Digital, Intel to join hands

The aim is to help develop of Open RAN technologies.
  • The facility is expected to drive innovation, foster technological advancements and contribute to the digital transformation landscape in the Kingdom.
  • This collaboration aims to align with Saudi Arabia's Vision 2030, which focuses on technological advancements and economic diversification.