Bayanat, Yahsat shareholders to vote on merger and creation of SPACE42 on April 25
ABU DHABI, UAE – Bayanat AI PLC and Al Yah Satellite Communications Company each issued a circular on Thursday calling...
Business
Potential investors value Telegram at $30bn, says co-founder Pavel Durov
MOSCOW, RUSSIA – The Telegram is valued by potential investors at more than US$30 billion, the co-founder of the social...
Business
UAE newsrooms lagging in adoption of AI: study
Ras Al Khaimah, UAE: While the global news media world is being disrupted by Artificial Intelligence (AI) led by bigtime...
- Algorithmic journalism refers to the automated gathering, production, and publishing of news based on programmed algorithms
- Impeding factors included traditional approach to transitioning into new technologies by editors content with beginner-level AI systems
Business
G42, Cerebras unveil world’s largest supercomputer for AI training, deal worth $100m
Sunnyvale, CA: G42, the UAE-based technology group and Cerebras Systems, the company specializing in accelerating generative AI on Thursday announced...
Business
Broadcom to acquire VMware after EU okays deal
BRUSSELS, BELGIUM- The European Commission approved US chipmaker Broadcom's planned $61 billion takeover of cloud computing firm VMware on Wednesday, conditional...
- The massive deal had raised concerns about competition, prompting probes by antitrust watchdogs in the European Union and Britain.
- As a remedy, Broadcom offered interoperability commitments to rival Marvell Technology and any other potential competition.
Business
Yahsat to invest US$100m
It is for capital expenditure of T4-NGS satellite program.
- The program, the next-generation telecommunications system for Thuraya, is scheduled to begin operational service in H1 2025.
- The total cost of the program is up to $550 million, including manufacturing, launch, insurance and new ground infrastructure.
Business
OECD urges wealthy nations to prepare for ‘AI revolution’ impact
Paris, France - The world's wealthiest nations must urgently prepare for the impact of an imminent "AI revolution" that will change...
- "While there are many potential benefits from AI, there are also significant risks that need to be urgently addressed," said the OECD
- The OECD said it was "vital" to gather better data on AI uptake and use in the workplace, and its effects on the job sector
Economy
UAE bolsters AI integration to boost competitiveness
"The UAE government prioritizes keeping pace with global advancements to proactively address opportunities and challenges," adds Al Olama. "This priority...
- UAE renews commitment to embracing artificial intelligence solutions across various sectors, says UAE minister Omar bin Sultan Al Olama
- The UAE government prioritizes keeping pace with global advancements to proactively address opportunities and challenges," he adds
Economy
AI ‘disrupts economy’ but Middle East optimistic
The Boston Consulting Group survey found that 58 percent of Middle East employees, managers, and leaders believe that AI will...
- An overwhelming 78 percent of respondents are confident that the rewards of GenAI outweigh the risks
- 76 percent of all respondents believe that AI-specific regulations are necessary to manage the risks
Business
Dubai’s RTA digital channels generate revenue of US$953m in 2022
DUBAI, UAE - Director-General and Chairman of the Board of Executive Directors of Dubai’s Roads and Transport Authority Mattar Al...
- RTA launched a feature that allows users to instantly access their vehicle registration cards for virtual displays upon request.
- In 2022 RTA recorded 814 million digital transactions up from 676 million in 2021, reflecting a robust growth rate of 20 percent.
Business
Ant Group to buyback shares
Share buyback plan values Ant Group at $78.5 billion.
- The China Securities Regulatory Commission (CSRC) on Friday slapped a $984 million fine on Ant and its subsidiaries "in view of... illegal and irregular acts".
- Ant operates Alipay, the world's largest digital payments platform, which boasts hundreds of millions of monthly users in China and beyond.
Geostrategy
Facebook hands US users controls over fact-checked content
For years, Facebook's algorithm automatically moved posts lower in the feed if they were flagged by one of the platform's...
- Fact-checked posts can be made less visible with an option called "reduce more", which means the posts "may be moved even lower in feed so you may not see them at all".
- Another option labeled "don't reduce" triggers the opposite effect, moving more of this content higher in their feed, making it more likely to be seen.
Bayanat, Yahsat shareholders to vote on merger and creation of SPACE42 on April 25
ABU DHABI, UAE – Bayanat AI PLC and Al Yah Satellite Communications Company each issued a circular on Thursday calling...
Business
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Latest News
Global personal computer shipments decline 14.8 percent in 2023
DUBAI, UAE - Worldwide PC shipments totaled 63.3 million units in the fourth quarter of 2023, a 0.3 percent increase...
Business
EU court’s adviser says $2.6bn fine on Google be upheld
Google suffered a legal blow at the European Court of Justice when the body's adviser recommended that a US$2.6 billion...
Business
Chinese experts decode Apple’s encrypted AirDrop messaging
Beijing, China - Chinese state-backed experts have found a way to identify people who use Apple's encrypted AirDrop messaging service, according...
Business
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Business
EU examines Microsoft large investment in OpenAI
Brussels, Belgium - The EU, racing to regulate the fast-moving world of artificial intelligence, said on Tuesday it has started a...
- The early-level examination is "checking whether Microsoft's investment in OpenAI might be reviewable under the EU Merger Regulation," the European Commission said.
- The move is part of efforts by Brussels to make sure its regulatory oversight can catch up with AI developments and stop major players shutting out competitors.
Business
CES gadget fest a showcase for AI-infused lifestyle
The annual Consumer Electronics Show gathering boasts more than 3,500 exhibitors and is expecting some 130,000 visitors. Companies big and...
- CES exhibitor and attendee numbers have jumped each year since the Covid-19 pandemic caused it to be an online-only event in 2021
- While the show is increasingly a showcase for startups, big brands such as Amazon, Google, Intel, Netflix, Samsung, SonY will also be there
Business
Baims acquires Orcas Edtech
The firm plans to incorporate one-to-one tutoring services.
- Baims specializes in providing online tailored recorded courses for university students in Saudi Arabia, Kuwait, Bahrain, and Jordan.
- Capitalizing on its market share in Saudi Arabia, Baims is poised to launch a specialized AI-driven test preparation product.