Paris, France - Elon Musk has launched a legal case against OpenAI, the AI firm he helped to set up in 2015, accusing its leaders of a "betrayal" of its founding mission. The tycoon, who left OpenAI in 2018, argued in documents filed in a San Francisco court late on Thursday...

An increase in sales in North America and Europe lifted the profits.

The company will pay a dividend of $19.33 million for Q4.

ABU DHABI, UAE- Gold prices hovered near a month high on Friday after data suggested easing US price pressures, while traders awaited remarks from several Federal Reserve officials. According to Reuters, spot gold edged 0.2 percent higher to $2,047.29 per ounce, as of 0635 GMT, after hitting $2050.59 on Thursday...

Barcelona, Spain -- e& Friday pledged to invest $6 billion between 2024 and 2026 in technological advancement, infrastructure development, and innovative digital solutions to extend meaningful connectivity to everyone. In an announcement at Mobile World Congress (MWC), e& said this investment is set to provide accessible and affordable network connectivity...

The new projects are estimated to value US$26.14 billion.

ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as a major WTO conference was extended beyond its scheduled deadline. With no signs of a breakthrough at the World Trade Organization's 13th ministerial conference (MC13) in Abu Dhabi, officials pushed...

LONDON, UK – Europe's aviation industry is extending its bounceback from the Covid pandemic, as British Airways owner IAG and Franco-Dutch rival Air France-KLM posted bumper 2023 profits on Thursday. The sector is flying at cruising altitude on pent-up demand after emerging from the dark days of Covid, which grounded planes...

London, United Kingdom - Major stock markets traded mixed Thursday before the release of US inflation data that could present a clearer idea on when the Federal Reserve will start cutting interest rates as inflation cools. Traders reacted also to yet more earnings, with the Paris CAC 40 reaching a fresh...

Algiers, Algeria -- Sonatrach, the state-owned energy company of Algeria, will allocate $8.8 billion investment in 2024, which represents 17.6 percent of the total Algerian investment portfolio of $50 billion for the next four years (2024-28). The company's CEO, Rachid Hachichi, told QNA that majority of the allocated funds (71...

MoUs with BFB, Partior were inked during Web Summit 2024.

Despite being the world's third largest oil producer, Russia has suffered sporadic fuel shortages since last summer amid high demand and repair works on refineries. Wholesale gasoline prices have risen since the start of the year, a problem exacerbated by repeated Ukrainian drone attacks on oil refineries.

Abu Dhabi, UAE -- Saif Mohammed Al Suwaidi, Director-General of the General Civil Aviation Authority (GCAA), said Thursday that the UAE's airports surpassed 134 million passenger mark in 2023 and are projected to reach 140 million by 2024. He attributed this achievement to the robustness and competitiveness of the UAE...

ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total of 11,200 units were sold across the capital, up 83 percent y-o-y. The increase in demand for residences has been driven by several positive initiatives and announcements by the government,...

Riyadh, Saudi Arabia -- Saudi Arabia has granted permission to more than 350 international companies to open their regional headquarters in the Kingdom, with the majority seeking to set up in Riyadh, Minister of Investment Khalid Al Falih said. Speaking at the Human Capability Initiative (HCI), the minister said the...

The company said it was 92% booked for the first quarter of 2024.

The company is cutting about 5 percent of its workforce.

The airline reported record revenue of US$32.49bn in 2023.

Sao Paulo, Brazil-- The UAE has affirmed that it collaborates with the BRICS nations in order to establish sustainable development policies, effective financing solutions and an advanced digital infrastructure. This was stated by Mohamed Hadi Al Hussaini, UAE's Minister of State for Financial Affairs at the first BRICS finance ministers...

The collaboration is expected to boost private sector in Qatar.

The statement said Disney will hold 36.8 percent, Reliance will hold a 16.3 percent stake, and Viacom18 another 46.8 percent. "This is a landmark agreement that heralds a new era in the Indian entertainment industry," Ambani said. His wife, Nita Ambani, will serve as its chairperson.

London, United Kingdom -- Bitcoin passed the $60,000 mark on Wednesday, approaching its all-time high and continuing its unbridled rise since the approval of a new type of investment indexed to the cryptocurrency. At 1325 GMT, bitcoin traded at about $60,301, closing in on its all-time high of $68,991 -- that...

The two firms will explore mutually beneficial investment opportunities.

The 39-year-old mixed business with pleasure while in Japan, going skiing with his family and learning about sword-making from a master craftsman. Zuckerberg arrived in Seoul on a private flight on Tuesday night for the second leg of his Asia trip and is expected to meet South Korean President Yoon...

Decline attributed to lower prices for base oils, secondary products.

Stung by the struggles of cryptocurrency and other faded Silicon Valley fads of recent years, venture capitalists have quickly doubled down on AI, a new promised land in the never-ending quest for big tech riches. For the big investors, "if it's not AI, it's not worth it," Denis Barrier, co-founder...

It has been testing self-driving mobility services since 2017.

TEHRAN, IRAN – The Middle Eastern country has improved its global standing in steel production, becoming the ninth largest producer in January 2024, according to new data released by the World Steel Association (WSA). In the first month of 2024, Iranian steel mills produced a total of 2.6 million tons...

Oil spills in Iraq -- a country ravaged by decades of conflict, corruption and decaying infrastructure -- have contaminated farmland in the northern province, especially during the winter rains.

Rivals' challenge to the control of a key oil asset can derail the acquisition.

Tehran, Iran -- In a significant step towards enhancing energy cooperation between Pakistan and Iran, Islamabad has given the green signal for advancing much-delayed work on gas pipelines within its territory. This marked considerable progress in the Pak-Iran gas pipeline project, Mehr News Agency reported. The approval comes as Pakistan...

The Kingdom drew praise for this achievement from UN Tourism and the World Travel & Tourism Council. Motivated by this success, the country has now set a new ambitious target of 150 million tourists by 2030.

ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024 and this will come into effect on March 1 2024. The Cabinet Decision No. 10 of 2024 amended the schedule of violations and administrative penalties of Cabinet Decision No. 75...

The set of rules will streamline authorization requirements and ease procedural hurdles faced by businesses, according to a press release. It will help reduce the costs of global services trade by more than $119 billion every year, it added.

Dhahran, Saudi Arabia -- Energy giant Saudi Aramco Tuesday announced that it has signed 40 corporate purchase agreements worth $6 billion with suppliers in Saudi Arabia under its localization program. The new purchase agreements cover companies in multiple sectors and include the supply of a variety of products, including strategic...

IHC is a pioneer in leveraging AI for decision-making.

US firm Alef Aeronautics displayed to the public for the first time the working model of what it says is the world’s first real flying car.

The one-year syndicated term facility was closed for Agrobank.

The buyout is part of its plan to boost media business.

Its revenue jumped to US$16.33 billion, a rise of 17.9 percent.

Brussels, Belgium - Bank customers will soon be able to transfer money across Europe within seconds after the EU adopted a law on Monday forcing banks to offer bloc-wide instant payments. Under the new rules, people in Europe will be able to transfer money within 10 seconds at any time of...

Renault unveiled a new electric vehicle and its Scenic model won the Car of the Year award at the first Geneva auto show since 2019, giving a boost to the French automaker's electrification plans. The Renault Scenic, an electric SUV, won the coveted Car of the Year prize, the French...

TOKYO, JAPAN – Japan's Moon lander has produced another surprise by waking up after the two-week lunar night, the country's space agency said on Monday. The unmanned Smart Lander for Investigating Moon (SLIM) touched down last month at a wonky angle that left its solar panels facing the wrong way. As...

ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and strategic milestones. EDB revealed a significant 80 percent surge in its contribution to the UAE’s industrial GDP, which has grown from US$653 million (AED2.4 billion) in 2022 to US$1.1 billion...

Barcelona, Spain - Smartphone makers are packing their latest devices with flashy new artificial intelligence tools such as real-time voice translation and advanced photo editing in efforts to reignite consumer demand. The trend was on display at the telecom industry's biggest annual show, the four-day Mobile World Congress (MWC) which got...

The company's fourth-quarter net profit declined 12% YoY.

The two firms have signed a $1 billion private credit deal.

The company had posted a profit of $2.67 billion in 2022.

Loss attributed to revaluation of investment properties.

The merger will create a powerful entertainment giant.