Business & Money | Friday 5 January, 2024 1:55 am

UAE, Saudi Arabia, and Qatar spearheading quantum computing development in the Middle East

The rapid advancement of quantum computing has ignited a fierce race for the next era of computing innovation globally and across the Middle East, according to new research from Frost & Sullivan. While the United States and China hold the top positions in quantum computing and cryptography...

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Business & Money | Friday 5 January, 2024 1:50 am

UAE, Jordan discuss elevating commercial, investment relations

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Bisher Khasawneh, Prime Minister of Jordan, discussed ways of enhancing trade and investment relations between the UAE and Jordan to stimulate joint economic growth and create more opportunities for cooperation between their...

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Business & Money | Friday 5 January, 2024 12:52 am

China's central bank adds liquidity via reverse repos

China's central bank conducted 14 billion yuan ($1.97 billion) of seven-day reverse repos at an interest rate of 1.8 percent Wednesday, reported Xinhua. The move aims to keep liquidity in the banking system reasonable and ample, the People's Bank of China said in a statement. A reverse...

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Business & Money | Friday 5 January, 2024 12:46 am

ADIB Digital Factory adopts generative AI to elevate productivity and efficiency

Abu Dhabi Islamic Bank, a leading financial institution, announces the implementation of "GitHub Copilot for Business," an AI-powered tool set to revolutionise operations within the bank. This innovative technology aims to elevate productivity and efficiency by harnessing generative AI capabilities ...

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Government | Thursday 4 January, 2024 1:37 pm

Al-Jadaan ratifies borrowing plan for 2024

Minister of Finance Mohammed Al-Jadaan ratified the Kingdom's annual borrowing plan for the year 2024, after it was approved by the National Debt Management Center (NDMC) board in its latest meeting.   According to NDMC statement, the plan includes the key developments in public debt ...

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Environment & Energy | Thursday 4 January, 2024 9:28 am

Abu Dhabi unveils 1st processing facility for enzyme-based fuel additives in Middle East & Africa

The Industrial Development Bureau (IDB), the Abu Dhabi Department of Economic Development’s (ADDED) arm to develop and regulate the industrial sector, has announced a groundbreaking collaboration with XMILE Group to establish a first-of-its-kind processing facility in the Middle East & Africa ...

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Business & Money | Thursday 4 January, 2024 9:03 am

KEIR, National Grid SA sign SAR 14.05M contract

KEIR International Co. signed today, Jan. 3, a SAR 14.05 million contract with the National Grid-SA to implement a cable circuit replacement project at a station in Riyadh, according to a statement to Tadawul.    The company will provide a 132-kilovolt...

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Business & Money | Thursday 4 January, 2024 9:00 am

ACWA Power starts Sudair Solar PV phase 3 commercial operation

ACWA Power Co. received on Jan. 3 the commercial operation certificate from the Saudi Power Procurement Co. (SPPC) for the third and last phase of the Sudair Solar Photovoltaic (PV) project.   In a statement to Tadawul, ACWA Power pointed out that phase 3 includes 25% of the...

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Environment & Energy | Thursday 4 January, 2024 8:58 am

OPEC+ says committed to efforts to ensure oil market stability

OPEC+ member countries reaffirmed today, Jan. 3, their steadfast commitment to “unity and cohesion” as well as their continued cooperation to maintain stability of the oil market. In a statement issued on the OPEC website, the alliance said these efforts come as part of the Declaration of...

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Business & Money | Thursday 4 January, 2024 8:53 am

Tasnee sees 2.5% rise in associates’ cost of sales on feedstock price hike

National Industrialization Co. (Tasnee) was notified by Saudi Aramco about an increase in some feedstock prices starting from Jan. 1.   In a statement to Tadawul, Tasnee said it expects a 2.5% rise in the total cost of sales of associates and joint ventures, according to the latest...

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