Saudi’s Humain secures $1.2 bn to expand AI, digital infrastructure
Riyadh, Saudi Arabia -- Saudi Arabia's Humain artificial intelligence company has secured up to $1.2 billion in financing to expand...
Business
The Middle East has become our living lab for digital reinvention
In the MENA region, we see an extraordinary opportunity to shape a digitally empowered workforce aligned with national transformation agendas,...
Interview
Business
DAE 9M net profit $310m
The company said this was a 54.9 percent YoY increase in net profit.
- Profit before tax settled at $326.6 million for the same period, compared to $207.5 million last year.
- Total revenue was $1.017 billion for the nine months, a YoY increase of $27.9 million, or 2.8 percent.
Economy
Global economy faces ‘low normal’ growth, widening inequality gap
The organization’s Trade and Development Report 2024 warned that this new “low normal" growth is insufficient to tackle pressing development and...
- While the global South experienced robust annual growth rates of 6.6 percent between 2003 and 2013, that figure has fallen to 4.1 percent over the past decade.
- This has made it harder for nations to expand social services, cover rising energy transition costs and manage mounting public debt.
Geostrategy
Rethink needed to make sustainable tourism work
"Growth at all costs no longer an option," says world-renowned tourism policy, planning and development expert Dr Marina Novelli in...
- Success should also be measured by more inclusive social indicators, moving from purely quantitative to qualitative assessments linked to making tourism a valuable sector.
- Coordinated efforts between government agencies, private companies, and civil society should ensure that sustainable practices are implemented across the tourism value chain.
Business
UAE records 37% increase in greenfield FDI to $16 billion in 2023
Abu Dhabi, UAE -- The UAE has witnessed a 37% increase in greenfield investments in 2023 to reach US$16 billion,...
- Sectors such financial services, industrial equipment, and transportation and warehousing played an important role in contributing to this growth.
- The most prominent countries involved in these investments were the US., India, the U.K., Saudi Arabia, and France.
Geostrategy
Saudi Arabia opens resort island at futuristic mega-city NEOM
Riyadh, Saudi Arabia -- Saudi Arabia's planned futuristic mega-city known as NEOM announced on Sunday the opening of its "first physical...
- The Red Sea island, known as Sindalah, is "spread over 840,000 square meters" (200 acres) and will be set to receive "up to 2,400 guests per day by 2028".
- NEOM is best known for The Line, twin mirror-encased 170-kilometre-long skyscrapers meant to extend inland from the coast.
Arts & Culture
Saudis part ways with coach Mancini after a run of poor results
Riyadh, Saudi Arabia -- Saudi Arabia's football body said it was ending the contract of national coach Roberto Mancini after 14...
- The Saudi Football Federation has reached a mutual agreement to terminate the contract of Mancini, 59, who signed a lucrative deal until 2027 in August last year.
- Building a strong national team is a priority for the oil-rich Saudis who splashed more than a billion dollars on players last year and are the sole bidders for the 2034 World Cup.
Geostrategy
Israel to send negotiators to new Gaza truce talks in Qatar
The head of Israel's Mossad spy agency, David Barnea, will head to Qatari capital Doha on Sunday, the Israeli prime...
- US Secretary of State Antony Blinken said that mediators would explore new options after the failure of previous efforts to seal a ceasefire and hostage release deal.
- The US and Qatar were seeking a plan "so that Israel can withdraw, so that Hamas cannot reconstitute, and so that the Palestinian people can rebuild their lives.
Interview
Bridging skills gap: UAE, Singapore lead the way
The two countries have adopted a people-centric and collaborative upskilling approach, says Till Leopold, Interim Head of Knowledge Communities at...
- In the UAE, impressive progress has been made in defining key skills and raising national awareness on human capital development.
- Leopold highlights AI-driven energy demand as a key sector for transformation, with significant job creation in sustainable energy.
Geostrategy
Beirut’s suburbs ravaged by Israeli air raids as Blinken urges de-escalation with Iran
Israeli airstrikes on Hezbollah's southern Beirut stronghold destroyed six buildings in the deadliest assault since the war began, despite U.S....
- In southern Lebanon, Israeli strikes pounded Tyre, leaving swathes of its centre in ruins and sparking a new exodus from the once vibrant coastal city
- Concerns are mounting over tens of thousands of civilians trapped by fighting in Gaza's aid-starved north, where Israel launched a major air and ground assault this month
Interview
WEF Dubai: UAE fosters global dialogue
The UAE has agile governance and it is not beholden to short-termism, Maroun Kairouz, Head of Regional Agenda for the...
- This year’s knowledge-share platform touched on a wide range of socio-economic challenges, from the ongoing humanitarian crises in the region to the shifts reshaping GCC industries
- Kairouz calls for a unified regional vision that can inspire a positive outlook on the future and provide alternatives to the deprivation that plague parts of the Middle East
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Saudi’s Humain secures $1.2 bn to expand AI, digital infrastructure
Riyadh, Saudi Arabia -- Saudi Arabia's Humain artificial intelligence company has secured up to $1.2 billion in financing to expand...
Business
Company News
Turkey’s 5,000-year-old bread finds new life
Arts & Culture
Latest News
Wed by app: Abu Dhabi launches virtual marriage for all
Dubai, United Arab Emirates -- Couples from anywhere in the world can now get married using the Abu Dhabi government's...
Arts & Culture
Hamas back on Gaza streets, acts against gangs and armed clans
For many Palestinians rebuilding their homes and lives amid Gaza's rubble, the sight of the Hamas forces was reassuring. Many...
Geostrategy
Hamas will not govern post-war Gaza: Hamas source close to negotiating committee
Doha, Qatar -- A Hamas source close to the group's negotiating committee told AFP on Sunday that it will not...
Geostrategy
Most Read
Trump’s Gaza plan wins Netanyahu backing, but hinges on Hamas disarmament
The plan calls for a ceasefire, release of hostages by Hamas within 72 hours, disarmament of Hamas and gradual Israeli...
- Hamas had yet to give its judgment on the proposal that Trump unveiled at the White House alongside Netanyahu, leaving uncertainty swirling around the fate of the 20-point plan
- The plan calls for a ceasefire, release of hostages by Hamas within 72 hours, disarmament of Hamas and gradual Israeli withdrawal from Gaza, followed by a transitional authority
Geostrategy
ChatGPT to get parental controls after teen’s death
Paris, France -- American artificial intelligence firm OpenAI said Tuesday it would add parental controls to its chatbot ChatGPT, a...
- Parents will also receive notifications from ChatGPT "when the system detects their teen is in a moment of acute distress," OpenAI added.
- The company had trailed a system of parental controls in a late August blog post.
Science
Human ancestor Lucy gets first European showing in Prague
Prague, Czech Republic --The 3.18-million-year-old bone fragments of human ancestor Lucy, which rarely leave Ethiopia, went on display in Prague...
- The ancient remains of the Australopithecus afarensis were discovered in Ethiopia in 1974.
- The find was, at the time, the most complete ever made and revolutionized the understanding of humanity's ancestors.