New York, United States -- ChatGPT-maker OpenAI has enlisted the legendary designer behind the iPhone to create an irresistible gadget for using generative artificial intelligence (AI). The ability to engage digital assistants as easily as speaking with friends is being built into eyewear, speakers, computers and smartphones, but some argue...
Dubai Police to use AI to secure Expo 2020
This would include monitoring visitors for safety from the moment of their arrival to the UAE until they reach the exhibition site.
Dubai to get new arbitration court
The court will be part of a new arbitration body formed by Dubai’s ruler, and have 13 members with non-renewable four-year terms.
Saudi mining law may pave way for ‘incredible’ investment in $1.3trn sector
Saudi Arabia is confident that its new mining law will lure private investment from the kingdom as well as abroad as it seeks to exploit an estimated $1.3 trillion of potential value in the sector.
Wataniya Insurance to raise $53.3m through a rights issue
Wataniya Insurance Company’s board of directors has recommended to increase the company’s capital through a $53.3 million rights issue, according to a bourse filing.
Saudi developer taps BMG for $266m IPO on Nomu
Bunyan United Company, the Saudi Arabia-based real estate firm, has tapped BMG Financial Group as its advisor for its upcoming listing on Nomu, a parallel market in the Saudi stock exchange.Dubai-France trade reaches AED8.5 billion in the first half of 2021
DUBAI: The emirate of Dubai sees tourism and exhibition activity returning to normal, with EXPO 2020 around the corner, according to Sultan bin Sulayem, DP World Group Chairman & CEO. Sulayem said Dubai has largely managed to mitigate the economic repercussions from the spread of the pandemic and DP World...
Yemenis protest hardship in govt-controlled south
Around 80 percent of its 30 million people depend on international relief and aid groups complain of financing shortfalls.
World leaders to hold closed-door climate meet at UN
The roundtable comes less than six weeks before a major United Nations climate meeting, COP26, in Glasgow.
Blackstone looks to buyout Dubai-based VFS Global for $1.2bn
Blackstone, the US-based alternative investment management company, is in discussion with VFS Global, the Dubai-based visa outsourcing company, to buy it out for $1.2 billion.Oman readies roadmap for green economy
Oman’s Environment Authority and Petroleum Development Oman have reportedly discussed the policy draft with the United Nations Environment Program.
DP World to invest $415m in a berth at London Gateway hub
DP World, the Dubai-based port operator, will invest $415 million in a new berth at its London Gateway logistics hub to increase supply chain resilience and create more capacity.
Egypt and Japan’s Toyota look to invest in blue ammonia
Egypt and Toyota of Japan are looking to explore investment opportunities in blue ammonia, and in this regard the Egyptian Ministry of Petroleum signed a memorandum of understanding with Japan's Toyota Tsusho.
Minerals Development Oman to build titanium dioxide plant
DUBAI: Minerals Development Oman (MDO) will build a titanium dioxide production plant with an annual capacity of 150,000 tons in the Sohar Free Zone at a cost of RO 43 million ($112 million). The MDO has signed a shareholder agreement in this regard. The project, covering an area of more...
Inflation eases in Saudi Arabia, lowest in 14 months
Inflation in Saudi Arabia is on the decline for the second month consecutively, dropping to the lowest level since June 2020.Aramco taps Honeywell for sustainability, productivity
This cooperation builds on a 2017 MoU between Honeywell and Aramco to explore the benefits of Honeywell's Industrial Internet of Things offering.
Bitcoin no threat to dollar, global economy
Despite being the future of money, Bitcoin cannot be the dollar of future because the US dollar is a fiat currency, created and supported by the US government.
ACWA Power of Saudi Arabia aims to raise $1.2bn through IPO
ACWA Power of Saudi Arabia intends to raise nearly $1.2 billion through Initial Public Offering (IPO), and in this regard it has set an indicative price range of the IPO.
Saudi gang gets 20 years in prison for laundering $4.5bn
A Saudi court sentenced twenty four Saudis and foreigners to up to 20 years in prison for laundering nearly $4.50 billion. The criminal gang channeled illicit funds through factories, companies, institutions and medical clinics.
Kuwait partners with World Bank for development
The memorandum is said to be in line with Kuwait Vision 2035 and the national development plan 2021-2025.
Oman discusses investments, economic ties with Austria
The meeting was held on Monday at the premises of the OCCI in Muscat.
Shipping industry evades gloom, makes big money
The pandemic might have battered other sectors of the world economy, but the shipping industry has raked in revenues not seen since 2008.
Halliburton builds $100m worth chemical plant in Saudi Arabia
Halliburton, the US oil field service giant, is in the final stages of building the first reactor plant for the manufacture of chemicals in King Salman Energy City “Spark” in Jubail, and production will begin in the first quarter of 2022.
UAQ Free Trade Zone to ease banking operations for SMEs, others
DUBAI: A Memorandum of Understanding signed between the National Bank of Umm Al Quwain (NBQ) and Umm Al Quwain Free Trade Zone (UAQ FTZ) allows easing of corporate banking requirements of companies registered in the zone. Such companies will form a privileged circle of customers who can avail of priority...
Egypt’s exports leap up 49 percent to $3.61bn
Egypt’s exports recorded a nearly fifty percent jump to $3.61 billion in June 2021, as a compared to $2.94 billion in the same month last year, official data showed.UAE to tighten the screws on money laundering
Taking a strong stance against money laundering, the Central Bank of the UAE (CBUAE) has issued a new guidance on transaction monitoring and sanctions screening for its licensed financial institutions (LFIs) that aims to promote anti-money laundering.Oman’s actual revenues fall 20 percent to $22.1bn
Oman has suffered a sharp decline in its total actual revenues, falling a staggering twenty percent to $22.1 billion in 2020.UAE launches competition to promote space-related careers
The competition, called Planet X, has been launched by Emirates Mars Mission in partnership with the Dubai Airshow 2021.
DFM to unveil new equity futures contracts
In order to diversify investment opportunities, the Dubai Financial Market (DFM) will roll out new equity futures contracts on individual stocks of three listed companies.Saudi Sidra Capital buys UK office for $26m
Sidra Capital, the Saudi Arabia-based investment firm, has bought an office building in the United Kingdom for $26 million.
Shuaa Capital CEO now owns 30 percent of the firm
The CEO of the UAE-based Shuaa Capital has bought 57, 966, 523 shares in the financial firm, taking his personal stake close to 30 percent in the company.
Yemen: No end to war that has put million on brink of famine
Analysts say the balance has tilted in favour of the Huthi rebels against the Saudi-led military coalition
‘Third mass exodus’ feared in Lebanon as crisis worsens
Based on a survey done last year, 77 percent of Lebanese youth said they think about emigrating and seek it, and this percentage is the highest among all Arab countries
Kuwait Airways to resume New York flight
The destination is in high demand from business travelers, tourists.Saudi Arabia eyes investment opportunities from Germany
The Saudi Vision 2030 has unlocked investment opportunities worth SAR12 trillion (€2.7 trillion or $3.2 trillion).Iran’s mega housing project faces infra hurdles
The one-million housing project is part of Iran’s plan to provide a total of six million houses for its underprivileged population.
Saudi e-invoicing scheme to come into force in three months
Saudi Arabia’s e-invoicing project, Fatoorah, will come into force in a little under three months, according to Zakat, Tax and Customs Authority (ZATCA).
Saudi Arabia to host region’s first poultry event of its kind
The first Middle East Poultry Exhibition and Conference will be held under the theme Contribution of Enhancing Food Security.
US praises Taliban for Afghanistan evacuation
The United States on Thursday praised the Taliban as businesslike and cooperative in facilitating the first evacuation of Americans from Afghanistan since the US military withdrawal.UAE firm retained as IPL healthcare partner
The Board of Control for Cricket in India has renewed retained VPS Healthcare as its healthcare partner for the Indian Premier League.
Abu Dhabi’s Yahsat to use SpaceX for its satellite launch
Yahsat, the Abu Dhabi’s satellite company, has picked up SpaceX to launch its next generation Thuraya communications satellite in the second half of 2023.
Aramex likely to buy out Turkish MNG Kargo for $500m
Aramex, the Dubai-listed courier agency, is in talks with MNG Kargo, the Turkish delivery company, to buy it completely for close to $500 million.
Saudi institute invests $500,000 to research farming in space
The equity investment was reportedly a part of Interstellar Lab's latest $3-million seed round.AstraZeneca: Nerve disorder a rare side effect
The European Medicines Agency has listed the neurological disorder Guillain-Barre syndrome, which can cause temporary paralysis, as a "very rare" side effect of the AstraZeneca Covid-19 vaccine. A causal relationship was "considered at least a reasonable possibility", the EMA said in an update Wednesday after a total of 833 cases...
Iran mulls preferential trade agreement with Lebanon
The director-general of the Iranian Trade Promotion Organization’s Office of Arabian and African Countries has said Iran is in talks with Lebanon for an FTA.
Japanese-French consortium to operate Dubai Metro now
The change in operators coincided with the 12th anniversary of Dubai Metro, which started operation on September 9, 2009.
Eltizam Group buys Inspire Integrated for $10m
Continuing with its expansion strategy, Eltizam Asset Management Group, a subsidiary of the Abu-Dhabi based International Holding Company, acquired Inspire Integrated for 37 million dirhams ($10 million).
Mubadala Petroleum, Eni partner for energy transition
The scope of the cooperation covers potential joint opportunities in Mena, South East Asia, Europe, and other regions of mutual interest.Saudis count the cost of technology overuse
As the use of the modern technology deepens in Saudi Arabia, its adverse effects are being felt across the gender and age in the whole kingdom.Bahrain’s digital transactions touch $3.62bn in H1
Bahrain’s central bank has revealed that cashless transactions in the country has surged 50 percent to $744 million in August, after reaching nearly $4 billion in the first half of the year.
Bahrain now ranks among top 20 in foreign investment
Bahrain has attracted three times the amount of greenfield FDI that might be expected given the size of its economy, reveals a new report.
