Author: Arabian Media staff

State energy major Saudi Aramco 2222.SE plans to start exporting the first condensate produced from the Jafurah gas plant in February, two sources with knowledge of the matter said on Tuesday. The $100bn Jafurah project, estimated to contain 229 trillion standard cubic feet of raw gas and 75 billion barrels of condensate, is central to Aramco’s ambitions to become a major global natural gas player and boost its gas production capacity. Its first phase started production early this month, the Saudi finance ministry said. Aramco could export four to six 500,000-barrel cargoes of Jafurah condensate per month, one of the sources said, without giving…

Elon Musk’s SpaceX is pursuing an initial public offering next year, looking to raise more than $25bn, with a valuation over $1tr, a source familiar with the matter told Reuters on Tuesday. SpaceX has started discussions with banks about the public listing, which could be around June or July, the person said. Musk had said in 2020 that SpaceX planned to list Starlink several years in the future once its revenue growth became “smooth & predictable”. SpaceX did not immediately respond to a Reuters request for comment. Saudi’s Aramco 2222.SE remains the only completed IPO to have achieved a valuation of $1tr…

Image credit: Dubai Media Office/Website Dubai Police has unveiled a set of specialised strategies aimed at enhancing road safety and reducing traffic accidents across the emirate. These include a joint road safety initiative with the Roads and Transport Authority (RTA) and two dedicated programs designed to cut accidents and foster a safer traffic environment for all. The strategies were reviewed during a visit by Lieutenant General Abdulla Khalifa Al Marri, Commander-in-Chief of Dubai Police, to the General Department of Traffic as part of the annual inspection programme. He was accompanied by Major General Hareb Muhammad Al Shamsi, Deputy Commander-in-Chief for…

Dubai Taxi Company (DTC) has partnered with Coca Cola Arena to provide exclusive limousine services for events at the venue, aiming to streamline transport for the thousands of visitors who pass through its doors each week. Under the agreement, DTC becomes the sole limousine operator for all arena events. The company will supply a dedicated fleet of high end limousines and taxis supported by on ground staff and real time coordination through its Operations Control Center to ensure vehicles are available as crowds leave concerts, sports fixtures and cultural shows. Coca Cola Arena, based in City Walk and able to…

Image: Supplied In an age where culinary capital is often measured by heritage, think Parisian bistros or New York delis, it’s time to recognise Dubai’s rapid ascent. A decade ago, such a claim might have seemed audacious. Today, Dubai is poised to outrank Paris, London, Tokyo, and New York as the world’s leading food capital. Dubai welcomed a record-breaking 18.7 million overnight visitors in 2024, a 9.1 per cebt increase over 2023, according to data from Dubai’s Department of Economy and Tourism (DET), as cited by Cavendish Maxwell. Dubai‘s hotel occupancy levels reached 81 per cent in the first half…

Image credit: Getty Images Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of The Executive Council of Dubai, has announced the citywide introduction of a one-time contactless hotel guest check-in solution. The initiative marks a major advancement in guest convenience, safety, and hospitality innovation, enabling visitors to bypass traditional in-person check-in procedures once the system is implemented across hotels and holiday homes. It also represents a key milestone in delivering the objectives of the Dubai Economic Agenda, D33, which aims to reinforce Dubai’s standing…

Image credit: Supplied Cybersecurity is undergoing a dramatic transformation driven by the rise of artificial intelligence. Threats are growing in complexity and speed and many businesses are demanding AI-powered solutions to counter them. In fact, 94 per cent deem them crucial,  and with good reason: in 2024, organizations using AI and automation extensively in prevention averaged savings of $2.2m versus those that didn’t. Vendors are racing to capitalise on this demand with campaigns built on “next-gen” AI features, but amid the surge of solutions, one truth stands out: not all are created equal. AI models, by nature, are only as…

Image: botim money botim money, the financial services arm of botim, has signed a Memorandum of Understanding with Binance to explore ways of providing digital asset access to millions of users in the UAE. The MoU marks botim’s push to evolve from a communications focused platform into a unified fintech ecosystem that lets users pay, transfer and invest within the same app. The agreement was signed during Binance Blockchain Week in Dubai. The two companies will study how Binance’s digital asset capabilities can be combined with botim’s fintech reach in the UAE. Their discussions focus on identifying practical, compliant solutions…

Naveen Rao, the former head of AI at Databricks, has raised $475 million in seed capital at a $4.5 billion valuation for his new startup, Unconventional AI. The round was led by Andreessen Horowitz and Lightspeed Ventures, with participation from Lux Capital and DCVC. The funding is a first installment toward the goal of up to $1 billion for the round, Rao told Bloomberg. TechCrunch was first to report, back in October, that Unconventional AI was seeking this mega funding for Rao’s new startup, although the final valuation is marginally lower than the $5 billion sources told us he was…

Hinge CEO Justin McLeod is stepping down from his role to launch a new AI dating product called Overtone. Match Group, the dating giant that owns apps like Hinge, Tinder, and OkCupid, is backing Overtone with pre-seed financing and plans to take a “substantial ownership position,” according to a press release. With Match’s support, Overtone was incubated as a project inside of Hinge. McLeod and a dedicated team spent the year developing the idea of Overtone, which is described as “an early-stage dating service focused on using AI and voice tools to help people connect in a more thoughtful and…