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IHC Q1 net profit $2.17bn

The company launches Share Buyback Programme

Amazon triples quarterly profit

The company's cloud, ads, and retail businesses thrive.

McDonald’s profits up 7%

The quarterly profits increased despite weak Middle East sales.

ADQ buys stake in Plenary Group

The deal is aimed at expanding public and social infrastructure.

FPT and Nvidia to build AI factory

Nvidia had invested around $250 million in Vietnam.
  • ‘Use AI to bridge global economic gaps, promote peace’

    “To ensure AI makes ethical, inclusive, and prosperous decisions, we must educate ourselves on its workings. It’s crucial to manage how and what AI learns, rather than just its outcomes and repercussions,” he adds, underscoring AI’s potential in technological advancement and sustainable development.
  • Artists utilize technology against AI copycats

    NEW YORK, US - Artists under siege by artificial intelligence (AI) that studies their work, then replicates their styles, have teamed with university researchers to stymy such copycat activity. US illustrator Paloma McClain went into defense mode after learning that several AI models had been "trained" using her art, with no...
  • Chinese mourners use AI to digitally resurrect the dead

    Several companies specialising in so-called "ghost bots" have emerged in the United States in recent years. But the industry is booming in China, according to Zhang Zewei, the founder of the AI firm Super Brain and a former collaborator with Wu.
  • US Commerce chief warns against China ‘threat’

    Gina Raimondo unveiled a series of  restrictions on the export of advanced chips to China, including those used in the development of AI, to prevent their use by Beijing for its military. She said that Nvidia had developed a product that performs just below the limit set by her department...
  • Astra Tech to launch financial services powered by AI in 2024, says CEO

    ABU DHABI, UAE - CEO and Co-Founder of Astra Tech Abdallah Abu-Sheikh said that the company will launch its first financial services empowered by artificial intelligence (AI) in 2024. In statements to the Emirates News Agency (WAM) on the sidelines of the Abu Dhabi Financial Week (ADFW), Abu-Sheikh said that...
  • $37 billion private funding announced for new UK projects

    Spanish energy company Iberdrola announced £7 billion of funding for offshore wind infrastructure while US tech giant Microsoft plans to invest £2.5 billion in artificial intelligence (AI) infrastructure, including data centers.
  • Brazil, UAE forge ahead with stronger bilateral ties

    “We would like the UAE to be a partner in our current process of investing in infrastructure. It is a marriage that pleases both parties. They are interested in investing in long-term projects, lasting twenty or 30 years, such as ports, highways, airports, and the food security sector. And we...
  • Sam Altman’s return ushers in new era at OpenAI

    The five-day saga began on Friday, when Altman was abruptly sacked by the board for reasons that are still unclear. The board said in a statement that it had sacked Altman because "he was not consistently candid in his communications with the board," without elaborating further.
  • AI transforms office roles and enhances productivity

    Artificial intelligence automates tasks and boosts capabilities, leading to transformative changes in job roles, productivity, and staff engagement dynamics.
  • US markets up after Nvidia reports $9.2 billion in third-quarter profit

    New York, United States - Wall Street stocks resumed their upward climb early Wednesday following strong results from artificial intelligence player Nvidia as US Treasury yields retreated. Nvidia said it made a profit of $9.2 billion on revenue of a whopping $18.1 billion in the third quarter, compared with $5.9 billion...
  • AI, NLP transform business operations in Gulf region

    AI and NLP are revolutionizing workplace efficiency by enabling employees to swiftly access essential information, thereby augmenting customer and personal convenience. Invisible virtual assistants streamline tasks, such as directly emailing the service desk for ticket creation or speeding up purchase requisitions and expenses, he adds.
  • In shock move, OpenAI sacks ChatGPT star CEO Sam Altman

    His dismissal caught the tech world by surprise, with rumors rife on social media as to the cause of the sudden sacking. A statement about the firing by OpenAI referred to its stated mission of making sure AI benefits everyone, and said that new leadership is needed for the company...
  • Focus shifts to societal impact and ethical use of AI

    AI and data stakeholders will gather at Global Data Dialogue 2023 -- to be hosted in Dubai next week by DataLEADS -- to discuss AI's sector-wide transformative potential.
  • The AI of war: computers and autonomous killing

    Observers say Beijing is massively investing in AI, to the point where it may soon be able to change the balance of power in the Asia-Pacific, and perhaps beyond. And that has profound implications for a world order that has long been dominated by the United States.
  • Russia spreading disinformation on Middle East situation, says Microsoft

    Paris, France - Russia has been spreading "disinformation" about the situation in the Middle East, the president of Microsoft said on Saturday, as tensions soar in the region due to the Israel-Hamas war. Brad Smith, Microsoft vice chair and president, was asked about the role of the US tech giant in...
  • AI to contribute in enhancing low-emissions development

    BONN, GERMANY - Artificial intelligence (AI) can make substantial contributions to climate-resilient and low-emissions development. UN Climate Change’s Initiative on Artificial Intelligence for Climate Action (#AI4ClimateAction) explores the role of AI as a powerful tool for advancing and scaling up transformative climate action in developing countries. In line with the...
  • Elon Musk’s xAI to release first AI model to ‘select group’

    WASHINGTON, US - Elon Musk said his new artificial intelligence company would release a new AI model on Saturday to a "select group" of users as he looks to rival industry leaders OpenAI and Google. The release would be the first from Musk's new startup, xAI, that he launched in July...
  • Political and tech leaders tackle AI safety at inaugural summit

    London, United Kingdom – UK Prime Minister Rishi Sunak on Thursday hosts political and tech leaders at the inaugural global AI safety summit, predicting the technology will radically alter society for generations to come. The release of ChatGPT and other generative AI systems, which are capable of quickly producing text,...
  • Let’s transform statistical systems for the future

    "The PSA should champion digital transformation in Qatar by equipping the national statistics system with comprehensive, accurate, and reliable data. This data should cater to diverse beneficiaries and enable Qatar to fulfill its commitments towards achieving national development goals," he adds.
  • AI revolutionizes real estate across GCC countries

    Cities like Dubai and Riyadh are harnessing AI to redefine every facet of property dealings, from development to management, Tripler CEO Sam Singh tells TRENDS.
  • Saudi Arabia selected as member of UN’s AI Advisory Body

    New York, United States-- United Nations Secretary-General António Guterres Friday announced the selection of Saudi Arabia to the UN Advisory Body on Artificial Intelligence (AI), which consists of 39 members representing government and private and civil-society organizations and the academic community from various countries around the world.Shura Council member Dr....
  • Thuraya, nybl sign MoU

    They will deploy AI in Thuraya and Yahsat satellites
  • Policy and infra drive Dubai’s global rise

    The emirate's pro-business policies, dedicated trade zones, and emphasis on tech innovation position it as a premier financial hub, George Pavel of Capex.com tells TRENDS in an interview.
  • UAE helps in shaping future of international archiving

    "With the ICA's theme, 'Enriching Knowledge Societies,' we're poised to delve into myriad topics, including the pivotal role of artificial intelligence (AI) in archiving and record-keeping," she adds while expressing eagerness to explore AI's impact on their work and to foster collaborative strategies for the profession's future.
  • GCC FTA, tech MoU enhance Pakistan-Saudi relations

    In landmark developments, Saudi Arabia and Pakistan have taken significant strides to enhance their bilateral relations, especially in the economic and technological arenas.
  • ‘Cooperation key in establishing global work agenda’

    "The Summit acts as a nexus, uniting government officials, international organizations, business magnates, community institutions, scholars, and innovators. This collective aims to set trends, foresee changes, and proactively tackle challenges with innovative solutions," Al Olama adds.
  • Meta technology chief defends tech titan’s AI strategy

    The company launched AI-infused chatbots with personalities at the gathering, along with tools for creating images or written content using spoken prompts. It has been seen as lagging rivals like Microsoft and Google, which have pushed out generative AI products and invested heavily in the technology seen as a force...
  • Automation revolutionizes financial business models

    The financial services sector is witnessing transformative changes, driven by rising demands for personalized services and the integration of cutting-edge technologies.
  • ChatGPT maker value rockets in funding talks: report

    The estimated worth for the company behind generative artificial intelligence platform ChatGPT is nearly triple that of just a year ago, according to the report in the financial daily citing unnamed people familiar with the discussions. Microsoft has invested billions of dollars in OpenAI, kicking off an AI race among...
  • For GCC, centralized demand planning is indispensable

    Facing challenges like varied categorization and technical standards, GCC economies are turning to innovative solutions. With digital technologies and unified planning, the Gulf region aims to unlock the full potential of their industrial sectors, add the experts from Kearney.
  • World must understand AI, curb its risk, says UK Deputy PM

    NEW YORK, US - The United Kingdom will be holding a summit on artificial intelligence (AI) so that nations can come together to “understand it, govern it, harness its potential and contain its risks”, Deputy Prime Minister Oliver Dowden told the UN General Assembly. Dowden said the so-named AI Safety...
  • AI and LLMs poised to transform global job landscape

    About 23% of global jobs will transform within five years due to LLMs and AI advancements, according to the World Economic Forum's 'Future of Jobs Report 2023'.
  • Google’s AI chatbot goes personal tapping into Gmail, YouTube

    Google has for years discreetly developed AI powers but was caught off guard when OpenAI late last year released ChatGPT and teamed up with Microsoft to make its capabilities available to users worldwide. Google then raced out its own Bard chatbot earlier this year, making it available in more than...
  • Israeli PM Netanyahu to meet Elon Musk during US visit

    Benjamin Netanyahu announced his meeting with Elon Musk through a post and told that they will discuss artificial intelligence. The tech billionaire launched his own artificial intelligence company, xAI, in July as he seeks to compete with ChatGPT's creator OpenAI.
  • AI ‘no substitute’ for fashion designers’ creativity

    Fashion innovator Calvin Wong, who has developed the world's first designer-led AI system, says 'we must treasure the designer's original creativity'.
  • Norms may make it easy to navigate ethical maze of AI

    While speaking at the International Government Communication Forum in Sharjah, he emphasized that it's essential to regulate technology and overall policies to ensure cybersecurity and ethical AI use, stressing the necessity of local regulations in addition to international standards.
  • Global economy lost $32bn due to credit card frauds, says AMF

    Abu Dhabi, UAE - The Arab Monetary Fund said Wednesday that global credit card fraud losses incurred by financial institutions and individuals reached around US$32.3 billion in 2021. The losses increased substantially by 13.8 percent compared to the previous year, WAM reported. The Fund released a study titled "The Role...
  • EU chief wants global experts panel to confront AI challenges

    Von der Leyen said the proposed AI group should be similar to the UN's IPCC panel, whose reports establish scientific consensus on climate change. "I believe we need a similar body for AI –- on the risks and its benefits for humanity. Yes, with scientists, but also tech companies and...
  • ChatGPT diagnoses ER patients ‘like a doctor’

    During a study in Netherlands, the chatbot outperformed doctors in some cases. At the same time, it showed some limitations.
  • California firefighters use AI to battle wildfires

    For several years firefighters have used a network of more than 1,000 cameras to monitor possible fire hotspots. Since the end of June, the ALERTCalifornia system has had AI computers "watching" these feeds, and flagging to human operators when they see wisps of smoke that could be a fire --...
  • Over 3,500 new members register with Ajman Chamber in H1 2023

    AJMAN, UAE- The Ajman Chamber of Commerce and Industry (ACCI) has revealed that in the first half of 2023, at least 3,567 new members joined it.   The growth pace of the industrial sector in Ajman is accelerating as a result of the leadership's interest in the field, the availability...
  • UN urges age restrictions on Artificial Intelligence in schools

    Paris, France - The United Nations called on Thursday for strict rules on the use of AI tools such as viral chatbot ChatGPT in classrooms, including limiting their use to older children. In new guidance for governments, the UN's education body UNESCO warned that public authorities were not ready to deal...
  • UN calls for age limits for AI tools in schools

    The UN's education body UNESCO warned that public authorities were not ready to deal with the ethical issues of rolling out "generative" Artificial Intelligence programs in schools. The Paris-based body said relying on such programs rather than human teachers could affect a child's emotional well-being and leave them vulnerable to...
  • ‘Multilateralism only option to tackle global crises’

    Stressing that “we are in a race against time” on issues from climate change and biodiversity loss to education and gender equality, he calls on Member States to “put money where our promises are” — supporting sustainable development with appropriate regulations, financing, capacity-building and verification.
  • Smart factories transform manufacturing across GCC

    Saudi Arabia and UAE lead the region in rapidly embracing the Fourth Industrial Revolution, shifting from traditional factories to smart ones.
  • Arm seeks $52bn valuation

    Arm is a world leader in designing chips that are used in smartphones.
  • Tech’s carbon footprint: can AI revolutionize responsibly?

    The planet's 8,000 or so data centers are the foundation of our online existence, and will grow ever further with the advent of artificial intelligence -- so much so that research estimates that by 2025, the IT industry could use 20 percent of all electricity produced, and emit up to 5.5...
  • US blocks Nvidia AI chip sales to Middle East citing China concerns: report

    London, Britain - The Biden administration has implemented restrictions on the sale of Nvidia's advanced microchips to certain Middle Eastern countries, citing rising worries about China's access to crucial artificial intelligence resources, Telegraph reported on Wednesday.  Nvidia, a tech giant valued at $1.2 trillion, has been directed to obtain permission...
  • The fight over a ‘dangerous’ ideology shaping AI debate

    Paris, France - Silicon Valley's favorite philosophy, longtermism, has helped to frame the debate on artificial intelligence around the idea of human extinction. But increasingly vocal critics are warning that the philosophy is dangerous, and the obsession with extinction distracts from real problems associated with AI like data theft and biased...
  • AI revolution in video games has industry players treading warily

    The ultra-connected industry is eyeing the innovation warily, with fears growing that jobs could be made redundant and artistic creations usurped. Responsive non-playable characters or the automatic generation of images, code and game scenarios are among the possible uses for developers using AI.