Musk’s AI startup raises $6bn more, Saudi and Qatari funds among investors
Paris, France -- Billionaire tech mogul Elon Musk's startup xAI said it had raised $6 billion from investors in its latest...
Business
AD Ports Group secures $2.125 billion refinancing deal
The move aims to optimize financing costs.
Business
Houthis say US ship hit in latest attack, promise safe passage for Russian, Chinese ships
In its own statement, the US military's Central Command, which is responsible for the Middle East, said the Houthis on...
- While the Iran-backed rebels maintained they had struck the commercial vessel in the Gulf of Aden, the US military said the group's missiles had missed their mark
- Continued Houthi aggression against vessels in and around the Red Sea has led to strikes in Yemen by US and British forces
Geostrategy
English player Henderson all set to leave Al-Ettifaq
Riyadh, Saudi Arabia - Jordan Henderson has moved a step closer to ending his much-criticized spell with Saudi club Al-Ettifaq by...
- The 33-year-old England midfielder has been with the Saudi club for just six months since leaving Liverpool
- Of all the high-profile players to move to the Saudi Premier League, Henderson arguably attracted the most criticism
Opinion
Disinformation, misinformation hurt global businesses
"These risks are serious because they limit our ability to tackle the big global challenges we are facing. Changes in...
- Rebuilding trust and fostering global collaboration are essential to address the present challenges.
- The role of AI and digital innovation in combating misinformation and boosting productivity.
Geostrategy
Saudi Scouts Association to participate in Republic Day Camp in India
Riyadh, Saudi Arabia - The Saudi Arabian Boy Scouts Association will participate in the Republic Day Camp (RDC) in India...
- The camp, with the participation of 25 countries, includes a series of activities aimed at promoting awareness of cultural traditions and exchange between the participating nations
- It seeks to enhance values, integration, unity, and diversity while instilling a sense of patriotism, discipline, and leadership qualities
Economy
Sustainable practices make GCC economy resilient
A shift to green tech and renewable energy is fostering the Gulf economy's resilience and diversification for a sustainable future,...
- A shift to green tech and renewable energy is fostering the Gulf economy's resilience and diversification for a sustainable future, says Phil Malem of Serco Middle East.
- GCC's focus on renewable energy, water management, and sustainable transport, alongside green technologies, spurs job creation and aligns with global climate goals.
Geostrategy
India finds apparent wreckage from 2016 military plane crash
New Delhi, India - India said on Friday it had likely found wreckage from an Indian Air Force transport plane that...
- Russian-built Antonov An-32 was carrying service personnel and six crew members during a routine courier service to Andaman and Nicobar Islands in 2016.
- An IAF source told AFP in 2016 that radar data from the missing aircraft showed it making a sharp left turn before rapidly losing altitude.
Jordan king, Sisi and Abbas call to ‘maintain pressure’ for Gaza ceasefire
A royal palace statement issued after the meeting said the three leaders had "reiterated the need to maintain pressure to...
- The trio "warned against attempts to re-occupy parts of Gaza or establish 'safe zones' in the strip, stressing the need to enable Gazans to return to their homes"
- They "reaffirmed their rejection of any Israeli plans to displace Palestinians in the West Bank and Gaza, urging international denouncement and rejection of these plans"
Economy
Saudi PIF Governor: Global demand for metals to rise sixfold by 2040
Riyadh, Saudi Arabia - Public Investment Fund (PIF) Governor Yasir Al-Rumayyan on Wednesday said that the Kingdom’s mineral wealth currently...
- Al-Rumayyan said the Ma’aden mining company owned by the PIF has expanded its exploration activities for gold, zinc, lithium, and other metals
- He revealed that the Kingdom’s mineral wealth currently stands at US$1.3 trillion, with a target to increase it to $1.5 trillion
Business
Emerging crypto hub UAE shapes digital assets’ future
"As 2024 unfolds, we anticipate that both private and public enterprises will increase their investments in the infrastructure and services...
- Bitcoin marked a 134 percent increase in the year 2023, signifying a resurgent crypto market.
- The UAE thawed the crypto winter, with institutional investments driving cryptocurrency deals.
China says foreign consulting agency head spied for Britain
China, which has a broad definition of state secrets, has publicized several other alleged spying cases in recent months. In...
- China and Britain have traded barbs in recent months over allegations of perceived espionage and its resulting impact on national security
- Britain's government has warned that Chinese spies are increasingly targeting officials, allegations that Beijing has denied
Musk’s AI startup raises $6bn more, Saudi and Qatari funds among investors
Paris, France -- Billionaire tech mogul Elon Musk's startup xAI said it had raised $6 billion from investors in its latest...
Business
Company News
BP H1 profits down 79%
Business
Latest News
Global tourism nears full recovery, led by Middle East’s 26% growth in 2024
While Europe and Americas have nearly returned to pre-pandemic levels, the Middle East's growth outpaces all other regions, UN World...
Business
Elon Musk’s Starlink internet launches in war-scarred Yemen
Dubai, United Arab Emirates -- Tech billionaire Elon Musk's satellite internet service Starlink has launched in Yemen, provoking the anger of...
Geostrategy
UAE banks’ Q2 investments in Islamic certificates, cash bills surge to $61.81bn
The banking sector in the country maintained strong capital adequacy, exceeding Basel 3 requirements, according to the Central Bank.
Business
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Business
Europe’s Electric Vehicle troubles bubble up at Brussels Audi factory
Brussels, Belgium -- Outside an Audi factory in Brussels described by the German carmaker as the "cradle" of its electric drive,...
- The firm is considering closing the plant, a move that analysts say is symptomatic of the troubles afflicting Europe's wider electric car industry, amid low demand and competition.
- With 3,000 jobs on the line, the Brussels workers have launched a prolonged strike, with a large demonstration planned in the capital on Monday and walkouts elsewhere in solidarity
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.