‘Dinosaur tartare’ and holograms: Dubai AI chef sparks awe and ire
Dubai, United Arab Emirates -- A Dubai restaurant has opened that prides itself on having the world's "first AI chef",...
Arts & Culture
Robots take centre stage at Singapore ‘Olympiad’
Singapore -- The World Robot Olympiad opened in Singapore on Wednesday with hundreds of international students, some as young as...
Geostrategy
Business
UCC Holding signs contracts for seven Kazakhstan projects
Doha, Qatar -- UCC Holding, a Qatari company, has signed two energy contracts for seven projects in Kazakhstan. The first...
- The first contract with QazaqGas includes two gas treatment plants:1 BCMA Gas Processing Plant Project and 2.5 BCMA.
- The second contract includes the construction of a combined cycle gas turbine (CCGT) power plant with a total capacity of about 1,100 MW in the Kyzylorda region.
Business
AD Ports Group net profit up 6%
Revenue growth driven by ports, logistics, and digital clusters.
- The Group said it more than doubled year-on-year to AED11.68 billion, up 58% YoY to AED 8.71 billion on a like-for-like basis.
- General cargo volumes rose by 26 percent YoY to reach 40 million tons in 2023, compared with 31.7 million tons in 2022, 13 percent YoY on an LFL basis.
Economy
Saudi Arabia set to establish more smart industrial zones
Riyadh, Saudi Arabia - Saudi Arabia will establish more smart industrial zones, Minister of Municipal and Rural Affairs and Housing,...
- Minister of Municipal and Rural Affairs and Housing, Majed Al-Hogail revealed this at the conclusion of the inaugural Global Smart City Forum 2024 here on Tuesday
- Minister of Industry and Mineral Resources Bandar Alkhorayef who also attended the Forum, stressed the industry and mining sectors' increasing demand for smart industrial cities
Geostrategy
Macron tells Netanyahu Israeli operations in Gaza ‘must cease’
In a telephone call that saw Macron toughen his tone, the French leader expressed France's "firm opposition" to an Israeli...
- WHO says Gaza hospitals completely overwhelmed and Israel approves fewer than half of its aid-delivery requests.
- Spain and Ireland ask European Union to urgently examine whether Israel is complying with its human rights obligations in Gaza.
Science
Old joke: Apes also like to tease, meaning trait could be ancient
Paris, France - A boisterous young chimpanzee slaps an adult in his family on the back, then scampers away and looks...
- The researchers catalogued a wide range of classic japery. One ape would offer another an object, only to withdraw it at the last second.
- Much of this behavior is common in human children, starting from around eight months for the most precocious.
Business
ADNOC and bp to form gas JV
The JV is expected to be completed in the second half of 2024.
- Under the JV, bp will contribute its interests in three development concessions, as well as exploration agreements, in Egypt.
- ADNOC will make a proportionate cash contribution which can be used for future growth opportunities.
Business
Ford Middle East sales up 63%
Growth fueled by Ford Territory, F-150 and other models.
- Ford Middle East said in a statement that the UAE recorded a 57 percent year-on-year increase in sales – more than double the industry’s average of 26 percent in this market.
- It also achieved a record year of growth in Saudi Arabia, where retail figures surged by 77 percent over 2022.
Business
$1.39bn credit facility for Cenomi Centers
The Shariah-compliant facility was secured with several banks.
- The new arrangements consist of a 12-year term sustainability-linked Murabaha facility in two tranches as well as a revolving four-year renewable Murabaha facility.
- The arrangements will help Cenomi to support its growth plans by contributing towards existing facility repayments.
Geostrategy
Israel faces growing pressure over Gaza ceasefire as toll hits 28,473
CIA director William Burns met with Mossad chief David Barnea in Cairo for a new round of talks on a...
- The Cairo meeting came after the United States and the United Nations warned Israel against a ground offensive into Rafah without a plan to protect civilians.
- Other countries cautioned Israel against a Rafah ground assault, including China, Germany and Norway, while Italy said Israel's bombing in Gaza had been "disproportionate".
Business
NMDC Group net profit $585m
The Group's revenues surged 56 percent to $4.54 billion.
- The Group's assets reached AED 20.8 billion in 2023, up from AED 16.0 billion in 2022.
- In Q4 2023 alone, NMDC reported revenues of AED 5.7 billion and a net profit of AED 0.64 billion.
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
‘Dinosaur tartare’ and holograms: Dubai AI chef sparks awe and ire
Dubai, United Arab Emirates -- A Dubai restaurant has opened that prides itself on having the world's "first AI chef",...
Arts & Culture
Company News
Latest News
Okonjo-Iweala’s second term: Trump’s disdain for WTO biggest challenge
Ngozi Okonjo-Iweala, the first woman and the first African to head the WTO, is the only candidate in the race,...
Geostrategy
Crypto boss Justin Sun eats banana art he bought for $6.2 million
Hong Kong, China -- Crypto entrepreneur Justin Sun on Friday fulfilled a promise he made after spending $6.2 million on an...
Arts & Culture
How are countries regulating the wild west of social media for minors?
Paris, France -- A handful of nations are trying to clean up social media with measures including robust privacy provisions and...
Geostrategy
Most Read
Interview
EVs just the start, urban mobility needs a holistic approach
Cities must adopt EVs alongside shared transport, robust infrastructure, clean energy, and inclusivity, says Jamie Wylie, an urban mobility expert.
- One of the biggest hurdles to EV adoption is ensuring a network of accessible, reliable charging stations.
- According to the Global EV Outlook 2024, public charging infrastructure is expected to increase sixfold by 2035, with a focus on cities.
Business
Adani Group says it lost nearly $55 billion as US bribery charges sparked rout
The November 20 bombshell indictment in New York accused billionaire industrialist founder Gautam Adani and multiple subordinates of deliberately misleading...
- Gautam Adani, 62, is suspected of having participated in the $250 million scheme in bribes to secure lucrative government contracts.
- The conglomerate saw $150 billion wiped from its market value in 2023 after a report by short-seller Hindenburg Research accused it of "brazen" corporate fraud.
Business
Saudi Arabia sets Guinness record for largest food cluster
Riyadh, Saudi Arabia -- Saudi Arabia has set a Guinness World Record for the largest food cluster in the world...
- Jeddah Food Cluster, which spans over 11 million square meters, has set a new global benchmark.
- MODON announced ambitious plans for the cluster, targeting investments of up to SAR20 billion and creating 43,000 job opportunities by 2035.