BUSINESS

The United Arab Emirates has been making significant strides in the global AI ecosystem over the past years

Asia-focused bank giant HSBC on Monday relaunched the recently-acquired UK arm of collapsed US lender Silicon Valley Bank as part of a major push into technology and life sciences.

Semiconductors have become a flashpoint issue between the United States and China, which are locked in a fierce battle over access to chip-making technology and supplies.

The deadline has been moved from June 30 to July 7.

WhatsApp on Thursday began letting select organizations try a new feature called "Channels" that lets them broadcast to followers on the popular, Meta-owned messaging service.

The wind farm project will be the largest in Africa and one of the largest in the world. In a statement, UAE Minister of Industry and Advanced Technology Dr. Sultan Al Jaber said the project, which is being developed by the consortium led by Masdar, is a reflection of the strong relations between the UAE and Egypt.

Asian markets wobbled Tuesday after a two-day rally as profit-takers stepped in and traders weighed the chances of the Federal Reserve skipping an interest rate hike this month.

A Citroen 2CV made of wood, thought to be the only one of its kind, has sold for 210,000 euros ($225,000) at auction in France -- a new price record for the iconic vehicle.

The association added that its 2022 losses were half as bad as previously estimated at $3.6 billion.

Ministry of Energy and Infrastructure Suhail Al Mazrouei announced on Sunday that the country would extend until the end of December 2024 its production of 144,000 barrels per day, as agreed upon at the 35th ministerial meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) on June 4. Meanwhile, OPEC+ also announced on Sunday that it would not change its planned oil production reduction for 2023. The organization said it would limit its combined oil production to 40.463 million barrels per day from January to December 2024.

Riyadh on Sunday announced a fresh oil output cut following a meeting of major producers aiming to prop up prices despite fears of a recession.

In a suburb of Tel Aviv, a group of choristers were getting ready for the moment they will rejoice at the reconstruction of the Jewish temple some 2,000 years after its destruction, which they believe will accelerate the arrival of the messiah.

Anti-piracy authorities say they have cracked down on illegal streaming of films and TV programmes, but data suggests the practice is booming, reaching 215 billion illegal site visits last year.

The troubled CST-100 Starliner program has experienced numerous postponements but was finally meant to send humans on a test flight to the International Space Station on July 21.

The Chinese finance hub is pivoting to embrace crypto despite high-profile failures in recent months, including the meltdown of trading platform FTX, which wiped out more than $1.5 trillion in the market.

The trade mission commenced with the UAE-India Business Forum held in Mumbai, India, on Monday. Organized by the Sharjah Exports Development Centre (SEDC), the trade mission commenced with the UAE-India Business Forum in Mumbai, which brought together key business leaders, government officials, and industry experts from both the UAE and India. It centered around showcasing the investment advantages of Sharjah and Mumbai while highlighting the wide range of investment opportunities available across various sectors.

Global crypto markets have yet to recover from a string of high-profile failures in recent months, including the spectacular downfall of trading platform FTX and crypto-friendly US banks Signature and Silvergate.

"It is imperative for the UAE to continue to support cloud adoption and develop a skilled workforce to enhance the country's competitiveness on a global scale," a report suggested.

Microsoft stopped accessing Twitter data in April, opting not to pay fees Musk demanded developers pay for APIs (application programming interfaces) that engage with the platform, according to the letter.

The state-owned hydrocarbon giant said the contract was for the engineering, procurement and construction of the North Field South (NFS) project.

The company said the gains were the result of sales improvements and cost-cutting, as well as favourable foreign exchange rate fluctuations.

The sturdy vessels, built by hand, have sailed Gulf waters for centuries, their potbellied silhouette emblematic of regional maritime traditions like the dhows of the Arabian Peninsula.

The Japanese firm reported 2.45 trillion yen ($18.12 billion) in net profit for the fiscal year, down 14 percent from a year earlier but still beating its projections of 2.36 trillion yen.

In a subsequent comment fired off on Twitter, Musk contended that the WhatsApp messaging service operated by Meta "cannot be trusted."

Working at dnata Travel Group, I'm part of a team that makes tourism tick across three different continents, which unsurprisingly keeps me busy. Recently though, I have found the time to reflect on the experience and skills that enable me to work in such a fast-paced, demanding industry.

Koerner will be the only top manager from Credit Suisse to join the executive board after the bank is absorbed by UBS, which expects the mega merger to be wrapped up "in the next few weeks".

The result was down from the $39.5 billion reported in the same period in 2022, when Russia's invasion of Ukraine caused oil prices to surge.

The European Union's executive has proposed blacklisting several Chinese companies and curbing exports to nations seen as involved in bypassing Russia trade restrictions under the latest set of sanctions against Moscow for the war against Ukraine.

The reduction in oil contractual volumes follows the surprise additional cuts announced last month by OPEC+.