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AI TECHNOLOGIES BOOST
Microsoft invests $1.5bn in UAE-based G42
G42, the leading UAE-based artificial intelligence (AI) technology holding company, and software giant Microsoft today announced a $1.5 billion strategic investment by Microsoft in G42.
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8.4% CURRENT ACCOUNT SURPLUS SEE
World Bank raises UAE real GDP growth forecast to 3.9%
The World Bank has raised its forecast for the UAE's real gross domestic product growth (GDP) growth to 3.9% in 2024, compared to its previous forecast in January of 3.7%. It had raised its forecast for the UAE's economic growth to 4.1% in 2025.
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TEN YEARS IN A ROW
DXB named world’s busiest international airport again
Dubai International (DXB) has retained its title as the world's busiest international airport for international travel, for the 10th year running, as the Airports Council International unveiled the preliminary top 10 busiest airports worldwide for 2023.
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INSIGHT
Companies planning to modernise offices to woo top talent
Employers across the globe are planning to invest in the office design and technology to attract top talent with 81% of employers having already or planning to redesign workspaces in the next 24 months, according to a study by Cisco.
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Diriyah to unveil Saudi lifestyle destination at Paris event
Diriyah Company, a leading mixed-use developer in Saudi Arabia, is set to showcase its new lifestyle destination, Diriyah Square - featuring 400 new retail outlets as well as F&B units - at the World Retail Congress which opens this week in Paris.
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Gold prices hit record highs on Friday
Gold prices soared to a historic peak on Friday, with spot gold climbing 0.5% to $2,384.34 per ounce, said a report. Bullion hit a record high of 2,395.29 earlier in the session, while US gold futures also gained 1.2% to $2,401.80.
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Global energy executives upbeat on 2024 growth trajectory
More than 70% of senior energy professionals from across the globe are bullish on the industry's growth trajectory for this year, said leading risk management expert DNV, thus revealing a resilient optimism in the sector, despite prevailing caution.
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IndusInd International to acquire 60pc stake in Invesco India
Mauritius-based IndusInd International Holdings Limited (IIHL) has entered into an agreement with global investment management firm Invesco to acquire a 60% stake in its Indian unit IAMI which boasts more than $1.6 trillion in assets under management.
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Both humans and tech must evolve as the AI era unfolds
As AI becomes more and more sophisticated, it is imperative that it is figured out how to harness the power of its innovations without opening up to dangerous risks.
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Ship seizure by Iran may hit Mideast trade lanes, says expert
The seizure of a major container ship, MSC Aries, this morning by Iran Revolutionary Guards in the Strait of Hormuz, 92 km northeast of Fujairah, is 'extremely concerning' and threatens to put trade lanes in the Middle East at risk, said an expert.
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UN Tourism and Croatia to establish research centre for sustainable tourism
UN Tourism is set to work with Croatia and the University of Zagreb to establish a research and development centre focused on sustainable tourism. The centre will engage stakeholders from the public and private sectors, academia, and civil society.
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Five Saudi cities make it to 2024 IMD Smart Cities Index
The digital transformation of smart cities in Saudi Arabia, supported by Saudi Data and Artificial Intelligence Authority in collaboration with key government entities, has contributed to the advancement of 5 Saudi cities in 2024 IMD Smart City Index.
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Celebrity beauty brands net over $1bn earnings in 2023, says report
Celebrity beauty brands have collectively netted more than $1 billion in sales in 2023 with Rihanna's Fenty Beauty topping the list followed by Priyanka Chopra Jonas’s hair care brand Anomaly and Kylie Jenner's cosmetics brand, according to a report.
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QFZ and AEMOB to foster innovation in electric vehicles tech
The Autonomous e-Mobility Forum (AEMOB) has announced a strategic collaboration with the Qatar Free Zones Authority (QFZ), marking a milestone in the journey to advance the conversation on autonomous e-mobility on a global scale.
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In world first, Nigeria launches 5-in-1 vaccine for meningitis
In a historic move, Nigeria has become the first country in the world to roll out a new vaccine (called Men5CV) recommended by the World Health Organization (WHO), which protects people against five strains of the meningococcus bacteria.
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Haramain High-Speed rail transports over 1m travellers in Ramadan
The Saudi Arabia Railways (SAR) has announced that it has achieved a key milestone by transporting over 1 million passengers via the Haramain High-Speed Railway, which connects Makkah and Madinah. This marks a 22% increase when compared to last year.
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Valu empowers ESLSCA students with flexible payments solutions
Valu, Mena’s leading universal financial technology powerhouse, has partnered with ESLSCA University, a leading international university in Cairo to offer students flexible payment solutions and installment plans.
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GCC calls for restraint amid Mideast crisis
The GCC has called for maintaining regional and global security and stability in light of recent developments in the Middle East.
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