Saudi Arabia witnessing unprecedented growth in asset management industry: CMA official RIYADH: Asset management activity revenues of capital market institutions in Saudi Arabia reached SR4.2 billion ($1.12 billion) in 2023, representing a rise of 58.6 percent in four years. According to Abdullah bin Ghannam, deputy for listed companies and investment products at Saudi Arabia’s Capital … Read more
Riyadh Air and Artefact partner to build data analytics platform, develop AI solutions RIYADH: Saudi Arabia’s Riyadh Air is set to build a data analytics platform and develop artificial intelligence solutions, thanks to a strategic partnership with global consultancy firm Artefact. By implementing these new instruments, the airline can achieve hyper-personalization and enhance its guest … Read more
RIYADH: Energy firm Aramco’s technology arm was one of several companies to sign deals at the LEAP conference, along with global brands Nokia, IBM, and Mobily. On the third day of the Riyadh tech event, Aramco Digital took the spotlight by unveiling plans for a potential partnership with Groq, a global leader in the artficial intelligence chip market. … Read more
RIYADH: Attorney General Saud bin Abdullah Al-Mujab welcomed his Yemeni counterpart, Judge Qaher Mustafa Ali, before the two signed a Memorandum of Understanding to bolster judicial cooperation between their countries. The signing, at the Public Prosecution headquarters in Riyadh on Monday, affirmed a joint Saudi-Yemeni commitment to justice and crime prevention.
RIYADH: Saudi Aramco’s domestic supply chain is poised for further improvement as it signed procurement agreements worth $6 billion with suppliers in the Kingdom. According to a press statement, these 40 procurement agreements were inked as a part of the company’s strategic localization program and are expected to strengthen the firm’s supply chain ecosystem and … Read more
AI will drive efficiency amid global economic slowdown, leading financiers tell FII Priority Summit MIAMI: The chiefs of four of the world’s leading corporations stressed on Thursday, during the first day of the Future Investment Initiative Miami Summit, that while artificial intelligence has the potential to drive higher investment and economic growth across the world … Read more
World leaders in business, finance and tech gather in Miami for the 2nd FII Priority Summit MIAMI: From conflict and climate change to the rise of disruptive new technologies like artificial intelligence, humanity faces an array of challenges. That is why world leaders in business and finance are meeting in Miami this week to discuss … Read more
AI tech is in TV equivalent of monochrome but future is ‘bright’: CEO of OpenAI DUBAI: Artificial intelligence technology is currently in television’s equivalent of “black and white” but the coming decade “will be remarkable,” said Sam Altman, CEO of OpenAI, on Tuesday. Speaking via video on the second day of the World Governments Summit … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 6.28 points, or 0.05 percent, to close at 12,209.06. The benchmark index’s total trading turnover was SR7.89 billion ($2.10 billion), as 120 of the listed stocks advanced while 95 retreated. On the other hand, the Kingdom’s parallel market Nomu dropped 148.75 points, or 0.58 … Read more
RIYADH: Multiple agreements were signed during the second day of the Public Investment Fund’s Private Sector Forum to enhance the local economy, tourism, and telecommunication sectors. These deals included contracts awarded by King Abdullah Financial District Development and Management Co., which is wholly owned by PIF, the soverign wealth fund’s subsidary Asfar. stc Group also signed … Read more