Doha, Qatar – The Autonomous e-Mobility (AEMOB) Forum, a groundbreaking initiative in the realm of sustainable transportation, announced its final program and speakers lineup on Tuesday. Under the patronage of Jassim Saif Ahmed Al-Sulaiti, Minister of Transport, and in partnership with the Ministry of Transport (MOT) of Qatar, the forum...

Business travelers worldwide are drawn to the GCC countries due to their rapidly growing economies, strategic geographic locations, and ambitious infrastructure development plans.

Dubai, UAE -- Dubai Chamber of Digital Economy, one of the three chambers operating under the umbrella of Dubai Chambers, said Monday that the combined market value of the nine multinational companies (MNCs) it attracted to Dubai last year exceeds AED 304 billion (US$82.84 billion). The chamber attracted a diverse...

The reserve requirement will increase from 2.5% to 4% from July 1.

Tehran, Iran - Iran managed to sell an average of 1.56 million barrels per day during the first quarter of this year, primarily to China, data from Vortexa reveals. This marks the highest export level since the third quarter of 2018. The success in oil exports highlights the challenges faced...

It presents a more cost-effective alternative to conventional sovereign bonds, particularly for governments with lower credit ratings, a report has said.

Tokyo, Japan -- Bosses worried about turnover or wondering how long a new hire will stick around can now turn to AI for a heads-up on who might be next out the door. The artificial intelligence tool was developed by Japanese researchers to try and help managers provide targeted support to...

The models are built on new versions of publicly available Llama 3.

"Leadership teams must recognize that the livelihoods of their employees' families hinge on the stability of the business. Understanding that the survival of the business goes beyond mere profitability can serve as a powerful motivator" he adds.

The operation and maintenance contract will be for over 15 years.

Oslo, Norway -- Norway's sovereign wealth fund, the world's largest, posted a gain of more than $100 billion in the first quarter amid the global stock market recovery, it said Thursday. The fund -- fuelled by the Norwegian state's oil and gas revenues -- saw a return of 6.3 percent...

Dubai, UAE -- One hundred and five homes priced in excess of US$10 million were sold in Dubai during the first three months of the year, up 19 percent on Q1 2023, according to the latest analysis from global property consultant, Knight Frank. The total value of luxury homes sold...

Tourism industry accounts for 9 percent of GCC region's GDP and it is expected to grow annually at 7.7 percent. Trends looks at some of the influential industry players driving this growth.

The ChatGPT creator opens first Asian office in Tokyo.

Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business to set up shop. But can the model work to power the GCC economy?

Launched under both the Trump and Biden administrations, five major cases from the Federal Trade Commission (FTC) and the Department of Justice (DOJ) are moving forward against major US technology companies -- including two against Google that could see the company split up.

Riyadh, Saudi Arabia -- Saudi Arabia has imposed anti-dumping duties on seven products imported from 10 European and Asian countries, six of which are subject to the unified GCC law to protect the industry from the damage caused by dumped and subsidized imports, media reports said. The products included all...

London, United Kingdom -- Wall Street stocks slid on Friday despite banks beating expectations at the start of earnings season as oil and gold prices shot up amid worries about the conflict in the Middle East widening. "Geopolitical worries have triggered some risk aversion, but worries about a growth slowdown have...

The bank's CEO warns about risk of persistent inflation.

The cost of investment in North Carolina plant is $1.2 billion.

The UAE especially has become a regional hub for remote work, attracting digital nomads and businesses with its visa programs.

The losses tracked a sell-off on Wall Street and saw the dollar strike a 34-year high against the yen, fueling speculation Japanese authorities will step in to support their beleaguered currency. Figures showing the consumer price index rose 0.4 percent on-month and 3.5 percent on-year were both above consensus for...

It now expects to make $2.1bn in the year to August.

Sales also grew to nearly $120 billion from $80 billion.

Geneva, Switzerland -- The World Trade Organization said Wednesday that global trade should rebound this year from an unexpected slump in 2023, but warned that regional conflicts, geopolitical tensions and economic policy uncertainty risked darkening the picture. In its annual trade forecast, the WTO disclosed that world trade volumes unexpectedly declined...

Saudi startups were the biggest beneficiaries of LEAP24 tech conference, securing the lion's share of the total investment of S254 million.

The energy major's share price gained almost 2 percent.

TEHRAN, IRAN – Iran and Iraq will launch the first maritime passenger transport line within the next two months, an official at Iran’s Ports and Maritime Organization (PMO) said. The chief executive of the organization noted that an expert-level meeting was held by the Iraqi side with a focus on...

CAIRO, Egypt – Air Arabia Egypt on Sunday commenced its first non-stop flight from Cairo International Airport to Sabiha Gökçen International Airport in Istanbul, Turkey. Upon arrival at Sabiha Gökçen International Airport, the flight was greeted with a traditional water cannon salute and a welcome ceremony, a press release said....

AMMAN, JORDAN – Jordanian industrialists have emphasized the imperative of strategic planning to bolster export diversification, underlining key measures such as facilitating connectivity to global supply chains through e-commerce, and ramping up promotion and marketing efforts for domestic products.They also called for expanding outreach to foreign markets, fostering collaboration between...

It seeks to reassure users over the risks of deepfakes.

Dubai, UAE--Dubai received 3.67 million overnight visitors in January-February 2024, with an increase of over 18 percent year-on-year (YoY), figures released by Dubai Department of Economy and Tourism (DET) showed. According to the DET's Tourism Performance Report for January-February 2024, Dubai recorded 1.77 million international visitors in January, and 1.9...

Abu Dhabi, UAE -- Abu Dhabi Investment Office (ADIO) is collaborating with Dustour Marine Wooden Boats Trading Establishment to establish a new state-of-the-art project to support the Emirate’s coastal development in line with urban, social, recreational and economic expansion plans. The Musataha agreement was signed during the Abu Dhabi Department...

Abu Dhabi, UAE -- The Abu Dhabi Chamber of Commerce and Industry (ADCCI) announced the establishment of 54 working groups within the Advocacy Hub initiative. These working groups are part of the efforts to support the growth and prosperity of the private sector by providing an ideal platform for businesses...

The pact aligns with CBI’s plan to support innovation in UAE.

It expects operating profits to jump to US$4.89bn.

Abu Dhabi, UAE--A unique national capacity-building fellowship model offering outstanding Emirati graduates the opportunity to gain experience in a cutting-edge academic research environment was established through an agreement with Dolphin Energy to sponsor NYUAD’s Kawader Research Assistantship Programme. Maryam Al-Memari, a Research Assistant at NYU Abu Dhabi (NYUAD), has been...

Clean hydrogen could be bigger than the oil and gas economy for the region, says Jo Bamford, chairman of HYCAP, which invests in net zero and hydrogen economy.

LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas, a study showed on Thursday, bolstering a key pillar of the state's drive towards net zero. Scientists at the University of California, Berkeley, say a network of sensors set up...

London, United Kingdom - Britain's competition regulator deepened Thursday its probe into Vodafone's planned merger of British mobile phone operations with those of Three UK, owned by Hong Kong-based CK Hutchison, citing concerns over higher prices. The Competition and Markets Authority (CMA), which began in January a formal investigation into the...

MUSCAT, OMAN – As part of its investment solutions and Sharia-compliant products and services, ahli islamic, ahlibank’s Islamic banking window, introduced the first of its kind Islamic Money Market Fund in the Sultanate. ahli islamic customers now have the opportunity to invest and gain exposure to attractive local and regional...

Geneva, Switzerland -- The International Air Transport Association (IATA) released data for February 2024 global passenger demand, with total demand, measured in revenue passenger kilometers (RPKs), rising 21.5 percent year-on-year (YoY). Total capacity, measured in available seat kilometers (ASK), grew 18.7 percent YoY. The February load factor was 80.6 percent...

The aim is to offer trade finance solutions to businesses in UAE.

Abu Dhabi, UAE -- AD Ports Group and the General Company for Ports of Iraq (GCPI) sign an agreement to establish a joint venture to develop Al-Faw Grand Port and its economic zone, as well as any future expansion. Furthermore, the agreement also encompasses the potential investment, management, and operation...

It is working on a robot that may be helpful to people.

On Thursday, bullion touched $2,304.96 per ounce, according to Bloomberg News, after Fed boss Jerome Powell said it would likely be appropriate to cut borrowing costs "at some point this year". Eyes are now on the release of US jobs figures due at the end of the week.

Vienna, Austria--The participants of the 53rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum Exporting Countries and its allies, OPEC+, agreed to keep current oil production levels unchanged. During the meeting which took place via videoconference today, the JMMC reviewed the crude oil production...

Emirate's new tourism strategy aims to increase the sector’s contribution to GDP from $13.34 billion in 2023 to $24 billion by 2030.

In December, the airline ordered 230 Airbus planes.

MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian Prime Minister said this in an annual report at the State Duma (lower house of the parliament), TASS reported. “Energy is adjusting gradually as well. A serious adjustment of logistics...