Cybersecurity in 2024: From talent shortages to resilience against emerging tech risks
In 2024, cybersecurity remained central, addressing skill gaps and the impact of generative AI. A Strategic Cybersecurity Talent Framework offered...
Google unveils its most advanced Artificial Intelligence model, Gemini 2.0
San Francisco, United States -- Google on Wednesday announced the launch of Gemini 2.0, its most advanced artificial intelligence model to...
Business
Business
ahlibank Q1 profit $21.84m
Muscat, Oman -- ahlibank of Oman has reported a profit of 8.4 million RO ($21.84 million) in the first quarter...
- The customer deposits grew by 7.3 percent, reaching RO 2.33 billion during the first quarter, compared to the same period in 2022.
- Loans, advances, and financing expanded by 5.6 percent to RO 2.57 billion, while the bank's operating income increased by 4.6 percent to RO 23.3 million.
Geostrategy
China-based networks sowing disinformation in West: Meta
The network's social media accounts -- which ranged from Facebook to YouTube, Telegram and Twitter -- pushed content focusing on...
- Meta said it had removed more than 100 Facebook pages, profiles and Instagram accounts linked to the network, accusing them of violating its policies.
- Russia has long been accused of operating "troll farms" in a bid to influence public opinion in the West, with China not having been regarded as advanced in that area.
GCC central banks align rates with US Fed Reserve
The regional apex banks -- including the CBUAE, SAMA, CBB, and QCB -- have raised rates by 25bps in response...
- The regional apex banks -- including the CBUAE, SAMA, CBB, and QCB -- have raised rates by 25bps in response to the US Fed's decision to increase its benchmark lending rate
- Saudi Arabia's SAMA has increased its Repo rate to 5.75% and Reverse Repo to 5.25%, while the CBUAE has raised its ODF from 4.90% to 5.15%, effective from May 4, 2023
Economy
US pick Ajay Banga confirmed as new World Bank president
Banga was the sole nominee for the top job. He will begin his new role on June 2. President Joe...
- Under an unwritten arrangement, a US citizen has historically held the presidency of the World Bank and a European has run the IMF.
- Despite unease over continued US grip over the presidency of the bank, the trend continues with Banga, who was born into a Sikh family in India and is a naturalized US citizen.
Business
Aldar Q1 sales hit $1.22bn
The company's expansion plans include the acquisition of Al Fahid Island.
- The company said its development revenue backlog also hit an all-time high of AED 18.8 billion, which "provides visibility over the next two to three years".
- It has also entered the Dubai real estate market through a joint venture with Dubai Holding, which will see the development of three new communities across 3.5 million sqm of land.
Business
Iraq eyes deal on Kurdistan oil exports to Turkey within weeks
Ankara stopped importing oil from Iraqi Kurdistan in March after the International Chamber of Commerce ruled the federal government in...
- Under the terms of an agreement, sales of Kurdish oil are to go through the Iraqi National Oil Company, and no longer exclusively through the authorities in Iraqi Kurdistan.
- Oil exports are a key source of revenue for both the federal and regional governments, and their management has long been a sensitive topic in relations.
Geostrategy
Iran arrests energy firm managers for backing workers’ strike
Tehran, Iran -- Iranian authorities have arrested managers at a major petrochemical company for backing a workers' strike over pay...
- The offshore South Pars field in the Gulf -- the world's largest known gas reserve, which Iran shares with Qatar -- employs some 40,000 workers.
- In April, an official in charge of the Islamic republic's oil and gas sector in Bushehr province said 4,000 of the workers on strike would be replaced.
Business
Lufthansa expects summer boom
The group's first quarter loss dipped to $515m from $644m a year ago.
- Revenues rose by 40 percent to seven billion euros for the period, as 22 million passengers boarded Lufthansa group's planes between January and March.
- Capacity had already grown to 75 percent of the pre-Covid level in 2019 and was up 30 percent from the previous year.
Press freedom under attack everywhere: UN, media
The rise of disinformation and hate speech threatens truth, while journalists continue to face harassment, intimidation, and imprisonment, highlight UN...
- Speaking ahead of World Press Freedom Day on Wednesday, UN Secretary-General Antonio Guterres issues a rallying cry for journalists and media worldwide
- "All our freedom depends on press freedom," he said in a video message, calling it the "foundation of democracy and justice" and the "lifeblood of human rights."
Business
Samsung bans use of ChatGPT for mobile, appliances staff
Seoul, South Korea -- Samsung Electronics is banning employees in its mobile and appliances division from using generative AI services such...
- Major financial firms, including Goldman Sachs, have banned or restricted employees' use of ChatGPT-like platforms in recent months.
- More than 60 percent of Samsung staff said in an internal survey there were security risks with using generative AI platforms with company devices.
Cybersecurity in 2024: From talent shortages to resilience against emerging tech risks
In 2024, cybersecurity remained central, addressing skill gaps and the impact of generative AI. A Strategic Cybersecurity Talent Framework offered...
Company News
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Amazon to invest $17bn in Spain Â
Business
British Petroleum to develop four new oil and gas fields in Iraq
Baghdad, Iraq -- Iraq signed an agreement with British energy giant British Petroleum on Thursday to develop four oil and gas...
Business
UNSC to hold emergency meeting over Hamas chief’s killing
The meeting has been requested by Iran and supported by representatives of Russia, China and Algeria, said a spokesman for...
Geostrategy
World Rally Championship to add Saudi Arabia race to calendar
Paris, France -- World Rally Championship announced Wednesday that it will add races in Saudi Arabia, the Canary Islands and Paraguay...
Arts & Culture
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Business
BP H1 profits down 79%
Revenue dropped 8 percent to $98 billion in the same period.
- BP said increased volume and lower exploration write-offs were "partly offset by increased depreciation charges and higher costs".
- The group earlier this month flagged to markets that its latest earnings would take a sizeable hit from a cut to oil refining in Germany.
Geostrategy
Gaza official says 300 killed in Khan Yunis as army ends assault
"Since the beginning of the Israeli ground invasion of the eastern part of Khan Yunis province, the civil defence and...
- The Israeli military launched the assault on July 22 to halt rocket fire from the area, which already saw heavy fighting earlier this year.
- Last week, it said troops had retrieved the bodies of five Israelis from the area.
Business
Saudi trains over 1,000 nationals in coastal tourism market
Riyadh, Saudi Arabia -- The Saudi Red Sea Authority (SRSA), in collaboration with the Ministry of Tourism, has implemented two...
- The training, which focused on customer service experiences and safety principles, was conducted as part of the second edition of the Tourism Trailblazers Program.
- SRSA aims to provide over 210,000 jobs by 2030 and contribute more than SAR 85 billion to the GDP that same year.