Insurance giant Allianz signals job cuts in AI shift
Frankfurt, Germany -- German insurance giant Allianz signalled Wednesday looming job cuts due to its adoption of artificial intelligence, with...
Business
Amazon climate deal a ‘win’ for global unity but fossil fuels untouched
Nearly 200 countries approved the deal by consensus after two weeks of exhaustive negotiations on the fringes of the rainforest,...
Geostrategy
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
Business
Utilizing AI is only possible if skill gap is bridged, says expert
DUBAI, UAE - The Artificial Intelligence (AI) revolution is upon us, with AI becoming a pervasive force in our daily...
- As the rate of AI adoption increases, humans are essential to guiding the technology’s implementation and usage of these technologies.
- Executives estimate that up to 40 percent of their workforce may need to reskill as a result of implementing AI or automation over the next three years.
Geostrategy
Child among 8 killed in Syria clashes: monitor
The fighting pitted the army of Syrian President Bashar al-Assad against Hayat Tahrir al-Sham (HTS), a group led by Al-Qaeda's...
- War monitor said an elderly man, a woman and her young daughter were killed
- Syrian army retaliated by bombing residential areas of Darat Izza town in Aleppo
Geostrategy
Algerian ex-defence minister accused of torture dies
Nezzar was the commander of Algeria's ground forces and administrated the "state of siege" during the bloody October 1988 riots...
- Nezzar was defence minister during the military's 1992 overthrow of democratic politics and the early years of the decade-long civil war triggered by that decision
- In August he was indicted by the Swiss attorney general's office for crimes against humanity including coordinating torture and efforts to "exterminate" the Islamist opposition
Geostrategy
120 kilos of cocaine wash up on Australian beaches over Christmas
Sydney, Australia-- Australian police said Wednesday they were scouring beaches after mysterious packages believed to contain more than 120 kilograms (260...
- A first batch of 39 barnacle-encrusted, one-kilogram bricks of suspected cocaine was discovered on Friday near Magenta Beach, north of Sydney
- Since then, another 85 packages of the same size had been spotted along about 80 kilometers (50 miles) of the New South Wales coastline, state police said
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
Insurance giant Allianz signals job cuts in AI shift
Frankfurt, Germany -- German insurance giant Allianz signalled Wednesday looming job cuts due to its adoption of artificial intelligence, with...
Business
Company News
Latest News
Masdar acquires Saeta Yield
Business
BP announces $7bn gas project
The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.
Business
ICC issues arrest warrants for Netanyahu, Gallant, Deif
The court said it had found "reasonable grounds" to believe Netanyahu and Gallant bore "criminal responsibility" for war crimes
Geostrategy
Adani Group tanks after US bribery charges
India's opposition leader demands Gautam Adani's arrest; Kenya scraps airport, power deals with the Group that has significant investments in...
Business
Most Read
Arts & Culture
Banana taped to a wall sells for $6.2 million
The provocative work of conceptual art by Italian artist Maurizio Cattelan debuted at the Art Basel show in Miami Beach...
- The sale featured seven potential buyers and smashed expectations, with the auction house issuing a guide price of $1-1.5 million before the bidding.
- As well as his banana work, Cattelan is also known for producing an 18-carat, fully functioning gold toilet called "America" that was offered to Donald Trump during his first term.
Geostrategy
Riyadh tripartite meet pledges to implement Beijing Agreement
Riyadh, Saudi Arabia -- The second meeting of the Saudi-Chinese-Iranian Joint Tripartite Committee to follow up on the Beijing Agreement...
- They also reaffirmed their continued endeavor to consolidate neighborly relations between their countries through adherence to the Charter of the United Nations.
- China has affirmed its readiness to continue to support and encourage the steps taken by Saudi Arabia and Iran to develop their relationship in various fields.
Geostrategy
US vetoes Gaza ceasefire call at UN
The resolution demanded "an immediate, unconditional and permanent ceasefire" in the war between Israel and the Palestinian group, along with...
- But the wording angered Israel, with a senior US official warning ahead of the vote that the resolution had "the potential only to buoy Hamas".
- Since the beginning of the conflict, the Security Council has struggled to speak with one voice, as the United States used its veto power several times.