Category: Business

Japan’s yen hit its highest levels against the dollar since January on Monday, as markets extended moves triggered last week after weak US labor data stoked recession worries and expectations of deeper rate cuts by the Federal Reserve.

The dollar ind…

ABU DHABI: The latest JAIS large language model (LLM), JAIS 70B, was released today by Inception, a G42 company specialising in the development of advanced AI models and applications, all provided as a service.

A 70 billion parameter model, JAIS 70B …

ABU DHABI: Emirates Global Aluminium (EGA) today announced the world’s first bauxite cargo shipment using a Liquefied Natural Gas-fuelled (LNG) vessel.

The shipment, in a Capesize ship, carries bauxite mined by EGA subsidiary Guinea Alumina Corporati…

DUBAI: Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that the Gulf Cooperation Council (GCC) market remained the top global export and re-export destination for its member companies d…

ABU DHABI: ADNOC Drilling Company today announced record financial results for the second quarter and first half of 2024. The company’s net profit for the quarter also grew, up 29% year-on-year and 7% sequentially to $295 million, driven by the increa…

Gold prices on Monday fell by more than 2 percent, amid a broad-based sell-off in stocks driven by growing economic concerns.

Spot gold fell 2.2 percent to $2,389.79 per ounce, while US gold futures lost 1.6 percent to $2,430.

As for other precious …

ABU DHABI: The value of gold reserves held by the Central Bank of the UAE (CBUAE) reached AED20.619 billion by the end of May 2024, marking a year-on-year (YoY) growth of 19.7 percent from AED17.219 billion in May 2023.

The apex bank, in its Monthly …

ABU DHABI: The Central Bank’s statistics showed that the value of cheques cleared using Image Cheque Clearing System (ICCS) reached AED 544.4 billion, distributed over 9.33 million cheques during the first five months of 2024.

According to the Monthl…