Abu Dhabi-based artificial intelligence group G42 on Tuesday launched what it calls a Digital Embassies framework and an operating model named Greenshield, aimed at allowing governments to deploy artificial intelligence while retaining legal authority and control over data and systems, even when infrastructure is located outside national borders. The initiative...
Germany resumes arms exports to Saudi Arabia after 5 years
Berlin has loosened its stance on weapons exports to the kingdom recently, with the government praising Saudi Arabia's "constructive approach" in the Israel-Hamas war. Saudi Arabia had not renounced plans to normalize relations with Israel since the beginning of its war with Hamas, Foreign Minister Annalena Baerbock noted Sunday.Saudi Arabia picks bidders for mining exploration sites
Riyadh, Saudi Arabia -- Saudi Arabia Wednesday announced preferred bidders in the fourth series of the licensing rounds conducted as part of the Accelerated Exploration Program designed to leverage the Kingdom's mineral resources in support of the development and growth of the mining sector. The development and growth of the...
Palestinian journalist freed from Israeli custody abused: report
Footage of the men, including Kahlout, stripped down to their underwear, with some of them appearing to hand over weapons, was last month aired by Israeli media, which reported the alleged surrender of Hamas fighters. The clips sparked outrage on social media, with Hamas denying the individuals were members of...
CES2024 pet tech: Throw a dog a bone – or an AI collar
Las Vegas, United States - They don't own smartphones and can't go online, but that doesn't prevent them from being connected: Pets are benefitting from a slew of animal-oriented technology at this year's Consumer Electronics Show in Las Vegas. How's Fido feeling? Tracking your dog's steps, detecting its heart problems, knowing...WEF 2024 aims to bridge trust gaps amid global discord
Geneva, Switzerland - The World Economic Forum Annual Meeting 2024 is set to gather over 2,800 global leaders in Davos-Klosters, Switzerland, from January 15-19, with the overarching theme of "Rebuilding Trust." Against a backdrop of increasing division and uncertainty worldwide, the forum aims to foster dialogue, enhance collaboration, and forge...
UAE and Azerbaijan presidents pledge to boost ties
Baku, Azerbaijan-- The UAE and Azerbaijan have discussed ways to enhance cooperation in renewable energy, environmental protection, culture, education, and other areas that contribute to sustainable development. The discussion on the deepening of ties took place in a meeting between Shaikh Mohamed bin Zayed Al Nahyan, President of the United...
Middle East air cargo volumes up 13.5% in November
Dubai, UAE - Middle Eastern carriers recorded a 13.5% year-on-year increase in cargo volumes, strongest performance in the world. In November 2023, the air cargo was over 13.0%, a 15.4% rise compared to November 2022. The International Air Transport Association (IATA) released on Tuesday the data for November 2023 global air...EU examines Microsoft large investment in OpenAI
Brussels, Belgium - The EU, racing to regulate the fast-moving world of artificial intelligence, said on Tuesday it has started a preliminary study of Microsoft's multi-billion-dollar investment in ChatGPT developer OpenAI to see if it could be a disguised merger. The early-level examination is "checking whether Microsoft's investment in OpenAI might...Top global leaders to attend WEF meet amid Gaza, Ukraine war
Paris, France - US Secretary of State Antony Blinken, Israeli President Isaac Herzog and Middle East leaders will attend a World Economic Forum in Davos next week dominated by the war in Gaza, the WEF said Tuesday. Argentina's libertarian new president, Javier Milei, French President Emmanuel Macron and Chinese Premier Li...UAE economy likely to grow by 3.8 percent in 2025, says World Bank
WASHINGTON, US - The World Bank expected the UAE's real GDP to grow by 3.4 percent in 2023, rising to 3.7 percent in 2024 and to 3.8 percent in 2025. According to the Global Economic Prospects report released on Tuesday, the World Bank forecast the growth in the Gulf Cooperation...2023 hottest recorded year as Earth nears critical threshold
PARIS, FRANCE - The year of 2023 was the hottest on record, with the increase in Earth's surface temperature nearly crossing the critical threshold of 1.5 degrees Celsius, EU climate monitors said on Tuesday. Climate change intensified heatwaves, droughts and wildfires across the planet, and pushed the global thermometer 1.48 C...Tokyo’s Nikkei climbs to its highest level since Mar 1990
Tokyo, Japan - Tokyo stocks closed higher on Tuesday on the back of gains in US tech stocks, pushing the Nikkei index to a 33-year high. The benchmark Nikkei 225 index climbed 1.16 percent, or 385.76 points, to end at 33,763.18, while the broader Topix index added 0.82 percent, or 19.55...
Bitcoin surpasses $47,000, first time since March 30, 2022
Abu Dhabi, UAE - Bitcoin surged above $47,000 on January 9, marking its highest value since March 30, 2022, as reported by the Coindesk platform. Bitcoin, originating in 2008 under the pseudonym Satoshi Nakamoto, operates as a decentralized digital currency, facilitating peer-to-peer transactions without the need for a central authority...
Saudi Arabia tops MENA in venture capital investment in 2023
Riyadh, Saudi Arabia - Saudi Arabia achieves first rank across MENA for the first time in terms of the amount of Venture Capital (VC) funding in 2023, according to MAGNiTT, the MENA-based venture data platform. The Kingdom captured the highest share of total VC funding in the year, accounting for...Iran supports Baghdad pledge to expel US-led forces from Iraq
"We have repeatedly expressed our views to the authorities of the countries of the region, including Iraq, and declared that the presence of American forces in any form whatsoever... would not help to maintain stability and peace," said Iranian foreign ministry spokesman Nasser Kanani.
Apple’s Vision Pro headset available in US on February 2
WASHINGTON, US - Apple on Monday said it will release its highly anticipated Vision Pro mixed reality headset in the United States on February 2, in its first major release since the Apple Watch in 2015. Announced in June, the Vision Pro will cost a hefty $3,499 before tax, more than...Energy companies to test CO2 capture in Brazil undersea oil field
PARIS, FRANCE - A consortium of Brazilian, British, French and Chinese energy firms will test new technology aimed at capturing CO2 in an undersea oilfield off Brazil in an effort to reduce emissions, TotalEnergies said on Monday. The pilot unit will separate oil from CO2-rich natural gas at the bottom of...
Saudi Arabia, Belarus ink MoU to boost trade, investment
RIYADH, SAUDI ARABIA - The Federation of Saudi Chambers and the National Center for Marketing and Price Study at the Ministry of Foreign Affairs of Belarus signed on Monday a memorandum of understanding to boost investment and trade between the two countries. The memo was signed at the federation's headquarters...
Qatar sees 36.1 percent surge in visitor arrivals in Nov 2023
Doha, Qatar -- Qatar witnessed a 36.1 percent increase in the number of inbound visitors in November 2023, compared to 2023, to a total of 393,000, but a 33.5 year-on-year decrease. The highest number of visitors was from the Gulf Cooperation Council (GCC) at 46 percent. As for visitors by type...
UAE announces its participation in Nasa’s Lunar Gateway Station
Abu Dhabi, UAE - The UAE has announced its participation in developing a module on Nasa’s Lunar Gateway Station alongside the USA, Japan, Canada and the European Union, in addition to sending the first Emirati astronaut into lunar orbit as part of the project. During the event held at Qasr...
Saudi Exchange launches TASI50 Index tracking top 50 companies by market capitalization
Riyadh, Saudi Arabia – The Saudi Exchange has announced the launch of the TASI50 Index, which tracks the top 50 companies listed on the Saudi Exchange by total market capitalization. The index is calculated in real time and tracks the stocks of the largest companies in the market. The companies have...
Resilient supply chains are essential to global trade: Expert
DUBAI, UAE – For over 30 years, globalization has been the evergreen megatrend as global trade has helped lift some one billion people out of poverty, an expert has said. Yin Zou, the Executive Vice President of Corporate Development, DHL Group, wrote in the World Economic Forum that the COVID-19...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 lives, an expert has said. Igor Tulchinsky, Founder, Chairman and Chief Executive Officer, WorldQuant, wrote for the World Economic Forum that while AI brings tremendous potential benefits — from diagnosing...Libya declares ‘force majeure’ at major oilfield amid protests
Tripoli, Libya -- Libya's state-owned energy firm said on Sunday it had declared a state of "force majeure" at Al-Sharara oilfield after production at the major facility was suspended due to protests. The National Oil Corporation (NOC) said in a statement it had taken legal action for the southwestern oilfield, which...
Rules are fine but educate public about generative AI: Expert
Dubai, UAE -- Regulations alone will not safeguard the public against nefarious uses of Artificial Intelligence, people also need to be educated on how generative AI is used, what can be gained and what they should look out for while consuming it, an expert has said. Victor Riparbelli, cofounder and...Madinah on list of top five regions for e-commerce records
Madinah, Saudi Arabia -- The number of existing electronic-commerce records in Madinah reached 1,834 during the 4th quarter of 2023, registering a slight increase of 2.6 percent from the 1,792 records for the third quarter, according to official figures. According to the business sector bulletin for the 4th quarter of...
Qatar National Bank forecasts world economic growth to be 2.9% in 2024
Doha, Qatar--Qatar National Bank (QNB) expects the global economic growth to be around 2.9 percent in 2024, roughly the same rate as last year. QNB, in its weekly commentary, said, "There is no doubt that expectations for 2024 were influenced by the experience of investor sentiment from 2023, when negative...Hamas urges US diplomat to end Israeli aggression in Gaza
ISTANBUL, TURKEY - Hamas leader Ismail Haniyeh has called on US Secretary of State Antony Blinken to use his current Middle East tour to end Israel's "aggression" as war rages in Gaza. The top US diplomat arrived in Turkey on Friday at the start of a trip that includes planned...Fired over 60 rockets at Israeli military base, says Hizbollah
Beirut, Lebanon - Lebanon's Hizbollah fired on Saturday over 60 rockets at an Israeli military base, the group said, describing the barrage as a response to the killing of Hamas's deputy leader in Beirut. "As part of the initial response to the crime of assassinating the great leader Sheikh Saleh al-Aruri......Death toll from IS twin bombings rises to 91, says Iran
TEHRAN, IRAN - A bombing attack in southern Iran claimed by the Islamic State group has killed 91 people, state media said on Saturday, raising an earlier toll after two victims had succumbed to wounds. The two blasts in Kerman on Wednesday hit crowds at a memorial ceremony near the tomb...Global maritime trade sails into geopolitical storm
Most large international shipping companies have decided to reroute trading to avoid the Red Sea and Suez Canal through which 12 percent of world trade usually passes. The Houthis say the strikes are in solidarity with Palestinians in war-ravaged Gaza, which Israel has bombarded relentlessly for three months, in what...Makkah region sees 600% surge in green spaces within 5 months
Jeddah, Saudi Arabia - There has been a 600% increase in green spaces in Makkah region from August to December 2023, a report by the National Center for Vegetation Cover Development and Combating Desertification has revealed, cited by Saudi Gazette. The vegetational growth is attributed to robust rainy conditions during...
UAE market cap soars as top 16 companies hit $734bn
Abu Dhabi, UAE - The aggregate market capitalization of the top 16 national companies listed on local exchanges stood at approximately $734 billion (AED2.7 trillion). Anticipated growth suggests this figure might reach around $1.63 trillion (AED6 trillion) in the coming years. The 16 listed companies accounted for about 74% of...Response to Aruri killing inevitable, says Hizbollah chief
BEIRUT, LEBANON - The head of Lebanon's Iran-backed Hizbollah group warned Israel on Friday that it will respond swiftly "on the battlefield" to the killing of Hamas's deputy leader in its south Beirut stronghold. "The response is inevitably coming. We cannot remain silent on a violation of this magnitude because it...
Google Chrome begins restricting cookies in first step towards elimination
Paris, France - Google has begun limiting third-party cookies for some users of its Chrome web browser, a first step towards eventually abandoning the files that have raised privacy concerns. Google, which announced in 2020 that it planned to get rid of cookies, said fully eliminating third-party cookies could only happen...Dubai records $1.57 billion in weeklong real estate transactions
Dubai, UAE -- A total of 1,721 real estate and properties transactions valued at AED 5.8 billion ($1.57 billion) were conducted during the week ending 5th January, according to the Dubai Land Department (DLD). The DLD weekly report said that114 plots were sold for AED 1.36 billion, 1,183 apartments and...
Foreign governments paid Trump firms millions as president, claims US report
NEW YORK, US - Former US president Donald Trump's businesses received at least $7.8 million from foreign governments including China during his time in the White House, a congressional report claimed. Officials from Saudi Arabia, India, Turkey and Democratic Republic of Congo were among some 20 countries' representatives who paid money...
Saudi insurance sector targets 25m beneficiaries by 2030
Riyadh, Saudi Arabia - Saudi Arabia saw an 18% surge in health insurance beneficiaries in 2022, reaching a total of 11.5 million individuals by year-end, a report by the Saudi Council of Health Insurance revealed. The target is to reach 25 million beneficiaries by 2030, aiming for health insurance to...
Yanbu industrial port receives first RORO vessel, carrying nearly 2,000 cars
Yanbu, Saudi Arabia - The King Fahad Industrial Port in Yanbu welcomed the arrival of the "Hoegh Sydney," marking the first-ever RORO (roll-on/roll-off) vessel received through transshipment. The milestone was made possible by the partnership with global maritime transportation services provider Hoegh Autoliners. The ship carried a total of 1,984...
US, France call to ‘avoid escalation in Lebanon and Iran’
Washington, United States - US Secretary of State Antony Blinken and French Foreign Minister Catherine Colonna agreed to seek steps to avoid a wider Middle East war following strikes in Lebanon and Iran, the State Department said on Thursday. In a telephone call the day before, the two top diplomats "discussed...Iran-backed Iraqi group says top commander dead in US strike
Baghdad, Iraq - A "US strike" in Baghdad on Thursday killed a military commander of the Hashed al-Shaabi, the ex-paramilitary force said, with an Iraq security official reporting two deaths in a drone attack. "A drone targeted the logistical support headquarters of Hashed al-Shaabi," mainly pro-Iranian former paramilitary units integrated into...Lebanese media says four Hizbollah fighters killed in Israeli strike
Beirut, Lebanon - Four Hizbollah fighters were killed overnight in southern Lebanon, the Iran-backed movement announced on Thursday, in what Lebanese state media said were Israeli strikes on the border town of Naqura. The deaths, which according to a source close to the powerful group include a local Hizbollah leader, follow...Dubai Duty Free achieves all-time record sales of over US$2.16bn in 2023
DUBAI, UAE - The New Year began on a high note for Dubai Duty Free with the announcement of an all-time sales record of US$2.16 billion (AED 7.885 billion) for 2023, representing a 24.39 percent increase over the previous year and 6.4 percent up on pre-pandemic in 2019. December finished...
Gaza zoo bears scars of war as animals die of starvation
Rafah, Palestinian Territories--Hunger is everywhere at Rafah zoo, in Gaza's far south, as internally displaced Palestinians seek shelter from the war between cages and animals die of starvation. "The situation is very tragic, there's no food, water, medicine, or anything," its owner Ahmed Jumaa said, a parrot perched on his shoulder....
King Abdulaziz International Airport serves 42.7m passengers in 2023, a 36% growth
Jeddah, Saudi Arabia — King Abdulaziz International Airport served over 42.7 million passengers in 2023, reflecting a remarkable growth rate of 36% compared to the 31.4 million passengers recorded in 2022, marking the highest annual passenger statistic in its history, Jeddah Airports said on Wednesday. According to Jeddah Airports' 2023...
UAE creates ‘Parkin’ to oversee parking space operations in Dubai
Dubai, UAE - The UAE has issued a law establishing ‘Parkin’, a public joint stock company (PJSC) that will oversee operations related to parking spaces in Dubai. The newly established company will have financial, administrative and legal autonomy to fulfil its responsibilities, WAM reported. Also, the company's duration is set...Jordan’s public debt rises to $46.1bn by Oct 2023 end: Ministry
Dubai, UAE -- Jordan's public debt till the end of October 2023 has risen to $46.1 billion, 89.6 percent of the country's GDP. The Ministry of Finance said the government had borrowed $3.8 billion in the first ten months of 2023. In December, the government approved the 2024 budget with...
Most owners holding on to Burj Khalifa homes longer: Report
Dubai, UAE -- The total number of homes available for sale in Dubai’s Burj Khalifa declined by 52 percent during 2023, reflecting the growing number of long-term investors and genuine end users, according to analysis carried out by global property consultant Knight Frank to mark the 14th anniversary of the...Saudi Ports Authority invests US$3.46bn in maritime and logistics sectors
Riyadh, Saudi Arabia-- The Saudi Ports Authority also known as Mawani strengthened the maritime and logistics sectors with an investment of US$3.46 billion during 2023, contributing to the kingdom's growth in international indicators and solidifying its position as a global logistics center. In order to enhance the attractiveness of Saudi...
Saudi Arabia set to open its first financial center
Riyadh, Saudi Arabia - Saudi Arabia is poised to launch its inaugural financial center, with unified and standardized policies and guidelines, Chairman of the Steering Committee at the Ministry of Finance, Abdul Aziz Al-Furaih said during the inauguration of the Leadership Forum for the Transformation to Accrual Accounting in Riyadh....
