#China

iraq

Oil holds gain as traders turn focus to decline in inventories

West Texas Intermediate traded just below $72 a barrel

Alibaba

Alibaba names new chairman, CEO in surprise succession plan

Executive vice chairman Joseph Tsai will rise to chairman while e-commerce executive Eddie Yong will replace Daniel Zhang as chief executive officer

Nio

Abu Dhabi to take 7% stake in Chinese electric vehicle maker Nio

CYVN Holdings, an investment entity controlled by Abu Dhabi, agreed to buy about 85 million newly issued Class A shares for $738.5m in cash, or $8.72 apiece

Arab China Conference

Arab-China Business Conference underscores strengthening ties

The forum concluded with the signing of the Riyadh Declaration, underscoring continued collaboration between the China and Arab countries.

Saudi Arabia signs deal with China EV maker

Saudi Arabia inks $5.6bn deal with Chinese EV brand Human Horizons

The deal accounts for more than half of the $10bn investment agreements that were signed on the first day of the Arab-China business conference

Responsible AI

What responsible AI means outside of big tech

For many, the main concerns are not around whether AI will be sentient; rather, it’s about being able to understand the advice and decisions AI models make

Tesla

Tesla raises prices of S, X Models by $2,750 in China

The pricing of Model S sedan and Model X now start at CNY808,900 and CNY898,900, respectively

Aramco, PIF and China’s Baosteel steel JV

Aramco and PIF set up JV to build steel plant with China’s Baosteel

The steel manufacturing base has a designed annual capacity of 2.5 million tonnes of direct reduced iron and 1.5 million tonnes of steel plate

Etihad Cargo

Etihad Cargo bolsters presence in China with fourth gateway destination

The airline currently offers five passenger flights to Shanghai, Beijing Daxing and Guangzhou each week

Oil extends second weekly drop on new China recovery concerns

West Texas Intermediate futures slipped 0.7 per cent, after rallying 2.7 per cent on Friday

electric aircraft

Abu Dhabi to launch first sustainable electric aircraft manufacturing facility in MENA

Monarch Holding and EHang Holdings have signed a partnership agreement to establish the facility in the region

air pollution

Less than 1% of Earth has safe levels of air pollution, study finds

While scientists and public health officials have long been at alert to the dangers — air pollution kills 6.7 million people a year

Dubai property market Morgan Stanley

Morgan Stanley sees cash buyers and Chinese buoying Dubai property

Demand for Dubai real estate is booming after the government’s handling of the pandemic and its liberal visa policies attracted more foreign buyers

Alibaba

Alibaba enters ChatGPT fray with AI in speaker, Slack-like app

Alibaba Cloud began offering invitation codes for corporate users and developers to test out its flagship AI product last Friday

oil

Oil holds loss as stronger US dollar, slowdown concerns weigh

West Texas Intermediate traded below $80 a barrel after closing 1.2 per cent lower on Monday

e-skin

Chinese scientists develop e-skin to give robots sense of touch

The soft gel e-skin mimics the properties of human skin, with features like stretchability and self-healing ability

Aramco Rongsheng deal

Saudi Aramco bolsters China investments with $3.6bn refinery deal

The state-owned oil major said the deal includes the supply of 480,000 bpd of crude oil to Rongsheng refinery for 20 years

Aramco, HAPCO JV

Aramco, China JV to start work on petrochem complex

The state-owned oil giant will supply up to 210,000 bpd of crude oil feedstock to the complex, which is being built in China’s Liaoning province

Business travel

These are the world’s 10 most expensive cities for business travel

The survey was based on 2022 data for four-star hotels, meals, laundry and incidental costs

Saudi oil Europe

Saudi Arabia raises oil prices for Asia and Europe for April

Prices for US customers were left unchanged

Tajikistan-China

Magnitude 7.2 earthquake strikes Tajikistan-China border

It occurred near the border between the northwestern Chinese Xinjiang Uyghur Autonomous Region and Tajikistan’s Gorno-Badakhshan

Ford

Ford is investing $3.5bn in EV battery plant with Chinese firm

The facility is set to open in 2026 and will produce enough batteries to power 400,000 EVs a year

UAE’s non-oil foreign trade grows 17% in 2022

UAE’s non-oil foreign trade grows 17% in 2022

This is the first time that the country’s non-oil foreign trade has surpassed the Dhs2tn mark

OPEC+ keeps output steady amid uncertainty

OPEC+ keeps output steady amid uncertainty

Oil prices have had a rocky start to 2023, with a rally in mid-January fading away by the end of the month

Oil steadies as traders look to China, OPEC for fresh triggers

West Texas Intermediate was little changed above $80 a barrel after declining by almost 2 per cent on Tuesday

These are the best passports for travellers to hold in 2023

The ranking, published by Henley & Partners, uses data from the International Air Transport Association

oil price

Oil extends drop in thin trading as fears over Covid wave mount

Crude is heading for the first back-to-back quarterly loss since 2019 after a volatile year

How life sciences will define the next chapter in the Middle East transformation story

Life science companies are in a unique position to work with local governments to support capacity-building around early diagnosis and treatment

Kanoo Group

Dubai’s Kanoo Group sees opportunities to invest in India, China

The family-owned company, with interests spanning shipping, real estate, financial services and energy, sees potential in sectors including artificial intelligence and clean energy

Oil set for weekly gain on signs of tight supply, China comeback

West Texas Intermediate futures traded near $76 a barrel and are up around 7 per cent this week