G42 launches ‘digital embassies’ model to help governments deploy sovereign AI
Abu Dhabi-based artificial intelligence group G42 on Tuesday launched what it calls a Digital Embassies framework and an operating model...
Geostrategy
Saudi knowledge economy accelerates as Vision 2030 targets move within reach
The government has successfully implemented more than 900 reforms, including restructuring legal and labor frameworks, establishing new public authorities, and...
Economy
Business
TAQA launches new corporate identity
Abu Dhabi Energy Services will be renamed as TAQA Services.
- TAQA also announced that ADDC and Al Ain Distribution Company will merge under a new unified company.
- The Abu Dhabi Transmission and Despatch Company (TRANSCO) will be renamed TAQA Transmission Networks,
Geostrategy
Gaza rescuers say Israeli strike on house kills 11, including children
"We have recovered the bodies of 11 martyrs, including four children and three women, after an Israeli warplane hit a...
- "Several families had taken refuge in the house targeted with a single missile without any prior warning," Bassal said, adding that many others were wounded.
- Bassal said Israeli forces carried out similar strikes in some other parts of the Hamas-run territory overnight, killing at least 10 people.
Business
GACA and Volar to build UAE’s first Green Aviation Technology Center
Montreal, Canada -- The General Civil Aviation Authority (GACA) and Volar Air Mobility have signed a Memorandum of Understanding (MoU)...
- The Center aims to promote clean energy solutions, support research and development in sustainable aviation technologies.
- "The Centre will play a pivotal role in developing innovative solutions for a more growing, sustainable and greener future," said GACA director general Saif Al Suwaidi.
Business
Stock markets rise, gold hits record high as US rate cut nears
More data this week suggesting the Federal Reserve was winning the battle against inflation provided an extra kick for global...
- Investors are focused on the highly anticipated Fed meeting after data this week showed US consumer inflation slowed more than expected in August to 2.5 percent.
- The Fed cut rates early in the pandemic, then began hiking in 2022 as inflation rose, pushing rates to a 20-year high.
Business
Aramco Digital, Groq to build world’s largest AI inferencing data center
Riyadh, Saudi Arabia -- Aramco Digital Company and Groq, a leader in artificial-intelligence (AI) inference, have announced their partnership to...
- The announcement was made on the sidelines of the Global AI Summit (GAIN Summit), which concluded in Riyadh on Thursday.
- The facility will process 5.28 million tokens per second by the end of 2024 and 53 tokens per second by 2025.
Business
Dubai tourism shines: 25 percent repeat visitors, rising AI use
Dubai, UAE -- Dubai Corporation for Tourism and Commerce Marketing (DCTCM) has confirmed that 25 percent of visitors to Dubai...
- The high return rate is a proof that visitors are happy with what we offer them, said Issam Kazim, CEO of DCTCM.
- He added that the use of artificial intelligence can remove daily routine tasks and allow individuals to focus on the most important work.
Business
Rightmove rejects £5.6bn Murdoch bid
The property website said the bid was undervalued.
- REA made public its interest in Rightmove on September 2, noting "clear similarities" between the pair "in terms of their leading market positions in the core residential business"
- Sector-watchers said REA could be attracted by the prospect of more interest-rate cuts in Britain which would lower mortgage costs for buyers.
Business
UAE banking sector assets exceed $1.16 trillion by the end of June
Abu Dhabi, UAE -- The Central Bank of the UAE (CBUAE) revealed that total banking assets, including bank acceptance certificates,...
- The assents registered a month-on-month increase of 0.5 percent, compared to AED 4.28 trillion in May 2024.
- The total foreign assets of the Central Bank of the UAE exceeded the AED 770 billion barrier at the end of June, for the first time in its history.
Geostrategy
WTO says trade alone won’t bridge gap between economies
The WTO's 2024 report on global trade looked at the role that commerce has played to narrow the gap between...
- The report found that low- and middle-income economies tend to engage less in international trade, receive less foreign direct investment and depend more on commodities.
- WTO chief economist Ralph Ossa added: "Less trade will not promote inclusiveness, nor will trade alone."
Science
First step for Europe’s hyperloop vehicles with test launch
Veendam, Netherlands -- The dream of hurtling between European cities at speeds of more than 700 kilometers per hour moved a...
- For the moment, the speed is relatively slow at 30 kilometers (18.6 miles) per hour but operators hope to reach 100 kph (62 mph) by the end of the year.
- Amsterdam to Berlin in 90 minutes or Milan in two hours -- the technology has the potential to revolutionize travel in Europe.
Most Read
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
G42 launches ‘digital embassies’ model to help governments deploy sovereign AI
Abu Dhabi-based artificial intelligence group G42 on Tuesday launched what it calls a Digital Embassies framework and an operating model...
Geostrategy
Company News
SIB’s 2024 profit $272m
Business
Latest News
US hits back at accounts Iran moved enriched uranium before bombing
Trump, seeking credit for ordering military action and then quickly announcing a ceasefire between Israel and Iran, has lashed out...
Geostrategy
Arab states erupt in condemnation after US strikes on Iran
Iran's former arch-rival in the region, Saudi Arabia, which has been engaged in a Chinese-brokered détente with Tehran since 2023,...
Geostrategy
Turkey to export 48 fighter jets to Indonesia, deal valued at 10 billion dollars
Turkey's defence sector, including the famous Bayraktar drones, accounts for a significant share of the country's export revenues.
Geostrategy
Most Read
Science
UN says 70% chance that 2025-2029 average global warming will exceed 1.5C threshold
The planet is therefore expected to remain at historic levels of warming after the two hottest years ever recorded in...
- The planet is therefore expected to remain at historic levels of warming after the two hottest years ever recorded in 2023 and 2024
- The WMO forecasts that the global mean near-surface temperature for each year between 2025 and 2029 will be between 1.2C and 1.9C above the pre-industrial average.
Arts & Culture
Turkey’s 5,000-year-old bread finds new life
Round and flat like a pancake, 12 centimeters (five inches) in diameter, the bread was discovered during excavations at Kulluoba,...
- In the early Bronze Age, a piece of bread was buried beneath the threshold of a newly built house in what is today central Turkey.
- Now, more than 5,000 years later, archaeologists have unearthed it, and helped a local bakery to recreate the recipe -- with customers lining up to buy it.
Arts & Culture
Is Cristiano Ronaldo leaving Saudi Arabia? Cryptic post fuels speculation
Riyadh, Saudi Arabia -- Questions swirled over Cristiano Ronaldo's future in Saudi Arabia on Tuesday, hours after the superstar indicated...
- The 40-year-old Portuguese forward joined Al Nassr in 2022 from Manchester United and his contract with the Saudi club ends this summer.
- Ronaldo's potential exit from Saudi Arabia will likely raise fresh questions about how the Saudi Pro League would fare in his absence.