Saudi Arabia, UAE rank among top 20 nations globally for AI talent density
With the goal of becoming one of the world’s top 10 countries in AI research and application by 2030, Saudi...
Economy
Business
Lufthansa expects summer boom
The group's first quarter loss dipped to $515m from $644m a year ago.
- Revenues rose by 40 percent to seven billion euros for the period, as 22 million passengers boarded Lufthansa group's planes between January and March.
- Capacity had already grown to 75 percent of the pre-Covid level in 2019 and was up 30 percent from the previous year.
Press freedom under attack everywhere: UN, media
The rise of disinformation and hate speech threatens truth, while journalists continue to face harassment, intimidation, and imprisonment, highlight UN...
- Speaking ahead of World Press Freedom Day on Wednesday, UN Secretary-General Antonio Guterres issues a rallying cry for journalists and media worldwide
- "All our freedom depends on press freedom," he said in a video message, calling it the "foundation of democracy and justice" and the "lifeblood of human rights."
Business
Samsung bans use of ChatGPT for mobile, appliances staff
Seoul, South Korea -- Samsung Electronics is banning employees in its mobile and appliances division from using generative AI services such...
- Major financial firms, including Goldman Sachs, have banned or restricted employees' use of ChatGPT-like platforms in recent months.
- More than 60 percent of Samsung staff said in an internal survey there were security risks with using generative AI platforms with company devices.
Business
Bahrain central bank’s sukuk oversubscribed by 403 percent
Manama, Bahrain -- The Central Bank of Bahrain (CBB) announced that the monthly issue of the short-term Islamic leasing bonds,...
- Subscriptions worth BD 104.778 million ($277 million) were received for the BD 26 million issue, which carries a maturity of 182 days.
- By March 23, the total outstanding value of government treasury bills reached BD2 billion ($5.3 billion).
Economy
Qatar’s Q1 private sector exports hit $2.49 billion, up 17.5%
Doha, Qatar -- Qatar's private sector exports hit QR 9.1 billion ($2.49 billion) in the first quarter of 2023, representing...
- China was the top recipient of Qatari private sector exports amounting to QR 3.1 billion, a share of 34.1 percent.
- It is followed by India with almost QR 2.4 billion and a share of 26 percent, and Oman with about QR989 million, a share of 10.9 percent.
Business
Amarenco acquires Spectrum International
The acquisition includes all operating projects and pipeline of Spectrum.
- Following the acquisition, Spectrum will be rebranded as Amarenco Jordan, becoming the main platform for Amarenco MENA in Jordan, with a target to own 200MW.
- The company develops, builds, and operates large and medium-scale solar projects, with more than a billion dollars of investments on average every year.
Geostrategy
Khader Adnan becomes first Palestinian to die of hunger strike
His Tuesday death came during his 13th stint in Israeli custody, with nearly eight years of his life spent behind...
- In 2012, a 66-day hunger strike turned Adnan into a national hero, and revitalized hunger striking as a form of protest among Palestinians incarcerated in Israeli jails.
- His widow, Randa Mousa, warned against retaliation. "We don't want someone to launch rockets and then (have Israeli) strikes (on) Gaza," she told reporters.
Geostrategy
COP28 chair Sultan Al jaber urges tripling of renewables capacity
Al Jaber's call marked a public endorsement of a target laid out by the International Energy Agency. Last month at...
- Rather, the COP28 chair said the focus must be on removing the emissions they produce while stepping up renewables.
- Al Jaber also called on developed countries to deliver a long promised $100-billion climate package for developing countries.
Business
Dubai directs service providers to declare local sea container charges
Dubai, UAE -- Container service providers in Dubai will now be required to declare their local sea container charges to...
- Effective from 1st May 2023, the new directive will provide the DMA with a clear data-led understanding of local sea container charges and associated practices, WAM reported.
- The directive applies to all service providers providing local sea container services within, outside, or through any port in the emirate.
Business
Book industry needs to focus more on sustainability
She was highlighting key industry challenges such as environmental pressures and rising costs, during the opening of the Sharjah International...
- Prominent booksellers, publishers, and experts from 69 countries participate in Sharjah International Booksellers Conference, which facilitates discussions on industry trends
- Sustainability, generative AI, industry transformation remain prime focus of the discussion as Sharjah emphasizes the importance of collaboration and effective communication
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Casino operator Wynn wins UAE’s first commercial gaming license
Dubai, United Arab Emirates -- US casino operator Wynn has received the first commercial gaming operator's license to be issued in...
Business
Libya’s eastern administration lifts oil production, export blockade
The Benghazi-based administration, which controls most of Libya's oilfields, said in a Facebook post it was "lifting the force majeure...
Geostrategy
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Geostrategy
G7 says diplomatic solution is still possible in Middle East
Rome, Italy -- The G7 on Wednesday vowed to work together to reduce tensions in the Middle East and said a...
- Italian Prime Minister Giorgia Meloni called a telephone meeting of the body Wednesday to address the escalating Mideast crisis.
- "In a constantly evolving scenario, it was agreed to work together to promote a reduction of tensions at the regional level," said the statement released by the Italian government.
Business
Covestro accepts ADNOC takeover bid
The deal values German chemicals group at $13.3bn.
- Under the terms of the agreement, valid until the end of 2028, ADNOC will make an offer for all remaining Covestro stock at a price of 62 euros per share.
- ADNOC will also inject around 1.2 billion euros into the chemicals firm through the issuance of new shares, once the deal is completed.
Economy
Abu Dhabi non-oil GDP up 6.6% in second quarter: SCAD
Abu Dhabi, UAE -- Abu Dhabi's GDP increased by 4.1 percent during the second quarter of 2024, compared to the...
- The construction sector achieved remarkable growth rates of 11.5 percent in the second quarter of 2024, compared to the same period in 2023.
- It is estimated that the financial sector grew by 13.4 percent in the second quarter of 2024, compared to the same period in 2023.