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Saudi Arabia Unveils $15 Billion Technology and AI Investments at LEAP

Saudi Arabia Bets Big on AI and Advanced Technology Saudi Arabia has opened the latest edition of LEAP in Riyadh with more than $15 billion in technology investments and strategic commitments, highlighting the Kingdom’s rapidly expanding technology and AI ambitions. The announcements span artificial intelligence, cloud computing, cybersecurity and autonomous technologies. Saudi officials said the […]

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Ferrari’s First Electric Car Sells for Record $40 Million

News / Sehaj Singh

One-off Luce Chassis 0 becomes the most expensive new car sold at auction Ferrari’s first fully electric model has generated major attention after the one-off Luce “Chassis 0” sold for $40 million at a charity auction during Monterey Car Week. The sale broke the previous record for a new car sold at auction, which was

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Electric Aviation Reaches Major Commercial Development Milestone

News / Sehaj Singh

11-tonne battery-electric aircraft completes 27-minute test flight The world’s largest battery-electric aircraft has completed a 27-minute test flight, marking a significant milestone for electric aviation. Heart Aerospace’s X1 demonstrator weighs more than 11 tonnes and flew at an altitude of about 335 metres. The aircraft used only battery-electric propulsion during the test flight and consumed

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UAE Airlines Adjust Flights as Regional Airspace Disruptions Continue

News / Sehaj Singh

Emirates, Etihad and Air Arabia modify selected regional services UAE airlines are continuing to adjust parts of their regional networks as airspace restrictions and security concerns affect operations. As of 17 August, most UAE flights continue operating, but passengers are being warned about possible delays, cancellations and last-minute changes. Emirates has partially resumed Bahrain services

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Dubai Strengthens Whistleblower Protection for Financial Violations

News / Sehaj Singh

New safeguards aim to improve corporate governance and investor confidence Dubai’s Financial Audit Authority has highlighted employment protection available to employees who report financial or administrative violations through its Nazaha reporting platform. Eligible whistleblowers can receive confidentiality and protection against workplace discrimination or certain disciplinary action. The Authority can also intervene where an employee faces

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Saudi Arabia to Require 70% Localization in Project Management Roles

News / Sehaj Singh

New Saudization requirement targets specialised private-sector positions Saudi Arabia will introduce a 70% Saudization requirement for project-management professions from 14 February 2027. The requirement will cover roles including project-management directors, engineers and specialists. The Ministry of Human Resources and Social Development said the policy is intended to increase participation by Saudi nationals in specialised private-sector

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Dubai Stocks Fall as Air Arabia and ALEC Earnings Weigh on Market

News / Sehaj Singh

Corporate earnings create pressure on Dubai equities Dubai’s stock market came under pressure on 14 August, with the main index falling 0.4% for a second consecutive session. Weak corporate earnings and continuing geopolitical uncertainty contributed to the decline. Air Arabia fell 4.1% after reporting a 75% year-on-year decline in second-quarter net profit to AED 87.9

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UAE Condemns Attack on Two ADNOC-Linked Vessels

News / Sehaj Singh

Maritime security becomes a major issue for Gulf energy businesses The UAE has condemned an attack on two vessels affiliated with ADNOC while they were travelling through the Strait of Hormuz. No injuries were reported, but the incident has highlighted the growing risks faced by energy companies and shipping operators using the strategic waterway. The

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Gulf Economy Shows Resilience Despite Continued Regional Trade Disruption

News / Sehaj Singh

Diversification and alternative infrastructure provide economic support Gulf economies are proving more resilient than some early expectations despite continued disruption around the Strait of Hormuz. The economic effects are extending beyond oil prices. Shipping costs, insurance premiums, supply-chain disruptions and difficulties moving energy and goods are creating additional pressure for companies across the region. The

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Saudi Arabia Signs Major Power Infrastructure Agreement for Expo 2030 Riyadh

News / Sehaj Singh

Electricity network planned for one of Saudi Arabia’s biggest international projects Saudi Arabia has signed an agreement covering electricity infrastructure for the Expo 2030 Riyadh site, marking another major step in preparations for the international event. The planned infrastructure includes a main electricity supply substation, three primary substations, transmission networks and distribution networks. The Expo

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