SAN FRANCISCO: Meta on Thursday introduced an improved AI assistant built on new versions of its open-source Llama large language model. Meta AI is smarter and faster due to advances in the publicly available Llama 3, the tech titan said in a blog post. “The bottom line is we believe Meta AI is now the … Read more
CAIRO: Saudi startups continue to demonstrate a pioneering stance by capturing almost half of the region’s total venture funding in the first quarter of the year, underscoring the Kingdom’s growing influence in the regional startup ecosystem. In a notable achievement, Saudi ventures secured $224 million out of the $429 million raised across the Middle … Read more
RIYADH: Saudi Arabia continued to record robust business activity in March with the authorities approving 18 requests for economic concentration, official data showed. Last month, as many as 17 concentration requests were submitted to the General Authority for Competition. The authority also oversaw a notable influx of cross-border deals, encompassing 10 acquisitions, five joint ventures, … Read more
Opening up financial sector and battling inflation key for Arab countries’ economic development: AMF RIYADH: Financial openness and tackling inflation played a significant role in the short-term financial development of Arab countries, a new study suggests. A recent analysis released by the Arab Monetary Fund examined the impact of economic freedom on the development of … Read more
BERLIN: German soccer and Adidas are breaking up. American sportswear giant Nike will supply all of Germany’s national teams with its apparel and equipment from 2027, the German soccer federation (DFB) surprisingly announced Thursday. The new deal extends to 2034 and ends Germany’s long-standing relationship with Adidas, which goes back some 70 years and had … Read more
RIYADH: Saudi Arabia has secured $13 billion in private sector investments for its tourism industry, aiming to distribute the costs involved in becoming a top destination, a minister said. According to Princess Haifa Al-Saud, the Kingdom’s vice minister for tourism, the investments are expected to increase the number of hotel rooms by 150,000 to 200,000 … Read more
HONG KONG: Masters champion Jon Rahm said Wednesday that the Official World Golf Ranking (OWGR) was not “a good system” after LIV Golf formally withdrew its application to join. LIV Golf Commissioner Greg Norman on Tuesday sent a letter to players, seen by AFP, saying the Saudi-funded breakaway circuit had ended its efforts to be … 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
CAIRO: Startup momentum in the Middle East and North Africa region is on the rise, with the eagerly awaited technology event LEAP24 just around the corner. Regional venture capitals have replenished their funds and burgeoning enterprises have secured financing – preparing Riyadh’s ecosystem for a significant entrepreneurial uplift from March 4 to 7. US-based … Read more
Nadim Naaman takes the stage as first Arab lead star in ‘The Phantom of The Opera’ at Dubai Opera DUBAI: The moment has finally come for Lebanese-British theater actor Nadim Naaman. For over a decade, he has been associated with the popular musical “The Phantom of The Opera,” initially joining as an ensemble member. The … Read more