Gold hits record high, dollar falls as US targets Fed
Fed Chair Jerome Powell confirmed the "unprecedented" subpoenas against the bank in a rare video address on Sunday, which he...
Business
Yemen presidential council says Saudi coalition to lead all southern forces
The announcement comes a few days after Yemeni forces supported by Saudi Arabia recaptured large swathes of territory from the...
Geostrategy
Business
FPT and Nvidia to build AI factory
Nvidia had invested around $250 million in Vietnam.
- FPT said it has established a strategic partnership with Nvidia, which includes plans to build a $200-million-dollar AI factory using Nvidia's AI software and chips.
- Nvidia's singular role in the AI revolution has taken the world by storm, with its powerful GPU chips and software an integral ingredient in the creation of generative AI.
Geostrategy
Baby delivered from dying mother’s womb in Gaza ‘miracle’
At just seven months pregnant, her mother, Sabreen al-Sakani, reached the emergency unit in critical condition after she was fatally...
- "It's a miracle that she was still alive, despite her difficulties in breathing," said Sahib al-Shams, a surgeon and director of the Kuwaiti hospital in Rafah.
- "The mother died 10 minutes later," Shams said, adding that the baby's father and sister had been declared dead on arrival at the hospital.
Business
Qatar reveals program, speakers for Autonomous e-Mobility Forum
Doha, Qatar – The Autonomous e-Mobility (AEMOB) Forum, a groundbreaking initiative in the realm of sustainable transportation, announced its final...
- The event is slated to take place from April 30 to May 2, 2024, at the Qatar National Convention Centre (QNCC) in Doha.
- It has attracted significant sponsorship from over 20 prominent organizations. Notable sponsors include Mowasalat Company (Karwa).
Geostrategy
Water, oil and security on agenda as Erdogan visits Iraq
The Turkish leader met with Iraqi President Abdel Latif Rashid in Baghdad. He told Rashid that Turkey "had expectations of...
- The PKK (Kurdistan Workers Party), which has fought a decades-long insurgency against the Turkish state, has a presence in northern Iraq, as does the Turkish military.
- Also on the agenda is a $17 billion road and rail project known as the "Route of Development" which is expected to consolidate economic ties between the two neighbors.
Business
Dubai Chamber attracts MNCs valued at $82.84bn in 2023
Dubai, UAE -- Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers,...
- Initiatives like 'Create Apps in Dubai' triple app developers, fostering innovation and entrepreneurship in the emirate.
- Through workshops and roadshows, Dubai Chamber engages globally, attracting digital companies to the emirate's burgeoning tech landscape.
Business
Swiss reserve hike hits UBS
The reserve requirement will increase from 2.5% to 4% from July 1.
- The move follows government plans unveiled earlier this month that would tighten rules for banks deemed too big to fail.
- UBS, Switzerland's biggest bank, acquired struggling rival Credit Suisse last year in a government-engineered deal aimed at preventing a financial crisis.
Business
Luxury goods boom in Gulf draws global investors
The region's luxury goods market was worth US$ 10.52 billion in 2023, with long-term growth expected, reaching US$ 13.70 billion...
- The region's luxury goods market was worth US$ 10.52 bin in 2023, with long-term growth expected
- The market size is predicted to reach US$13.70 billion by 2028, with a compound annual growth rate of 5.42%
Geostrategy
Erdogan urges Palestinian unity after meeting Hamas chief: office
Erdogan called on Palestinians to unite following the talks at the Dolmabahce palace, on the banks of the Bosphorus strait,...
- Erdogan said recent events should not allow Israel to "gain ground and that it is important to act in a way that keeps attention on Gaza".
- "Even if only I, Tayyip Erdogan, remain, I will continue as long as God gives me my life, to be the voice of the oppressed Palestinian people," the president said.
Interview
AI is revolutionizing news ecosystem: Expert
Generative AI has removed barriers in the previous generation of AI such as news devices, new hardware and technical expertise,...
- With Generative AI, on can run news workflow through interfaces that one pays $20 a month. One doesn't need to be a coder.
- Jelani Cobb, Dean of Columbia School of journalism, says: '+AI is unignorable force that journalism will have to organize itself around'.
Business
Here is why sovereign sukuk is a game changer
It presents a more cost-effective alternative to conventional sovereign bonds, particularly for governments with lower credit ratings, a report has...
- The report suggests that sukuk generally yield less than comparable bonds and exhibit lower volatility, potentially indicating a lower liquidity risk.
- The high demand for sukuk, particularly from Sharia-compliant investors, can drive down borrowing costs for governments issuing sukuk.
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
Gold hits record high, dollar falls as US targets Fed
Fed Chair Jerome Powell confirmed the "unprecedented" subpoenas against the bank in a rare video address on Sunday, which he...
Business
Company News
Boeing to boost 787 production
Business
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Oil extends gains on hopes of policy support for economic growth
Singapore - Oil prices extended gains on Friday after closing at their highest in more than two months in the...
Business
Dubai Airport set for record start to 2025: 4.3m guests in 15 days
Dubai, UAE -- Dubai International Airport (DXB) is on track to welcome 4.3 million guests in the first 15 days...
Business
18 Palestinians killed in Israeli strikes on northern, southern Gaza
Palestinian news agency (WAFA) reported that eight Palestinians were killed, and others were injured in an airstrike by the Israeli...
Geostrategy
Most Read
Business
Dubai real estate market saw record transactions worth $142.1bn in 2024
Dubai, UAE -- Dubai’s real estate market recorded 180,900 transactions worth AED 522.1 ($142.1 billion) in 2024, a market report...
- The transaction volume surged by 51 percent to 119,800 in 2024, reflecting a substantial increase in buyer confidence and developer activity.
- There was also a steady appreciation in the average price per sq ft, which was up 10 percent to AED 1,600.
Geostrategy
Israeli forces killed 45,553 Palestinians since Oct 2023: Health ministry
Gaza, Palestinian Territories -- The Israeli forces have killed at least 45,553 Palestinian civilians and injured at least 108,379 others,...
- At least 108,379 other civilians, most of them children, have been injured and thousands remain under debris.
- The ministry said the Israeli forces committed two massacres against Palestinian families in the Gaza Strip over the past 24 hours.
Business
Kamco Invest launches two funds
Kamco's assets under management surpass SAR 1bn.
- The new Shariah-compliant funds are named Kamco Freestyle Saudi Equity Fund and Kamco SAR Murabaha Fund.
- The company said in a statement that the launch of the two funds brings the total number of public funds managed by Kamco Invest in the Kingdom to three.