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MIDDLE EASTERN (B)

MIDDLE EASTERN (B)

Dubai's Onegram Enlists Islamic Cryptocurrency on Its Virtual Exchange

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Dubai’s OneGram Group has listed a cryptocurrency it bills as Shari’ah-compliant on the company’s virtual exchange and is planning additional listings in coming months.

The firm said that its cryptocurrency is Shari’ah-compliant as each OneGram unit is backed by physical gold stored in a vault, a feature that aims to address speculation and price volatility.

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The coins are listed on the firm’s exchange, Huulk, and future listings will focus on regional exchanges in Asia and the Middle East. (Shutterstock)

© 2018 CPI Financial. All rights reserved.

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MIDDLE EASTERN (B)

Everything You Need to Know About the Latest AI News

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Far from being the stuff of science-fiction, artificial intelligence, or AI, is becoming an increasingly common sight in today’s world. Combining the latest powerful software with top-of-the-range hardware, AI tools are being used to transform many areas of everyday life, from healthcare to traffic problems.

But what is AI, and how is it being used today? Here is our guide to everything you need to know, and some of the most innovative and interesting use cases around today.

For years, it was thought that computers would never be more powerful than the human brain, but as development has accelerated in modern times, this has proven to be not the case. (Shutterstock)

© Future Publishing Limited Quay House, The Ambury, Bath BA1 1UA. All rights reserved

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MIDDLE EASTERN (B)

OPEC, Non-OPEC Countries to Finalize Permanent Framework Ahead of US Sanctions

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Oil producers aim to agree a framework for long-term cooperation to ensure oil market balancing when Opec and non-Opec members meet in Vienna in December.

Stressing the need for oil producers to stick together for the good of the global economy as Iran faces renewed US sanctions, Opec secretary-general Mohammed Sanusi Barkindo said on Tuesday in Fujairah that an agreement between Opec and non-members that cut production and helped bring prices back up from lows of $30 a barrel in January 2016 was now “a permanent feature.”

Crude is averaging about $72 a barrel this year, and the International Energy Agency warned last week that prices could rise above $80. (Shutterstock)

Copyright © 2018 Khaleej Times. All Rights Reserved.

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Bahrain Launches GCC's First Biometric Payment System

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Customers at Bahrain-headquartered Ithmaar Bank will soon be able to use just their fingerprint and pin number to take money out of cash points, dispensing with the need to carry their bank cards with them.

The technological solution has been developed by a Bahraini fintech firm Eazy Financial Services, and is set to be the Gulf region’s first biometric payment system. It is due to be launched in phases from the first quarter of 2019.

Cash withdrawals are now possible using simply a PIN and your fingerprint. (Shutterstock)

Copyright: Arab News © 2018 All rights reserved.

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MIDDLE EASTERN (B)

Report: Jordan's Tourism Sector Needs More Than 5,000 Jobs to Bridge Supply-Demand Gap

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The Kingdom’s tourism sector needs 5,896 jobs by the end of 2019, 2,369 for females and 659 for people with disabilities, a study revealed on Tuesday.

The study, titled “The gap between supply and demand in the tourism sector”, conducted by the National Centre for Human Resources Development, found a big gap between supply and demand in the sector, the Jordan News Agency, Petra, reported.

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The Kingdom’s tourism sector needs 5,896 jobs by the end of 2019. (Shuttertstock)

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Ivory Coast Investment Opportunities Lure Qatari Businessmen

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Qatari businessmen are keen to explore investment opportunities available in Ivory Coast in the fields of agriculture, mining, tourism and real estate, Qatar Chamber (QC) first Vice-Chairman Mohammed bin Ahmed bin Tawar al Kuwari has said.

Kuwari was speaking at a business meeting with Ivory Coast’s Secretary of State in charge of Private Investment Essis Esmel Emmanuel and Chairman of Ivory Coast Chambers of Commerce and Industry Faman Tourih in Doha on Monday.

Qatari businessmen are keen to explore investment opportunities available in Ivory Coast in the fields of agriculture, mining, tourism and real estate. (Shutterstock)

© Copyright Qatar Tribune. All Rights Reserved.

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Saudi Carves a Slice of the Electric Car Market With $1 Billion Investment

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Saudi Arabia put a $1 billion charge into Lucid Motors Monday by investing in the electric car maker.

Through the Public Investment Fund of Saudi Arabia, the investment will fund the complete engineering development and testing of the Lucid Air, the company’s first electric-powered vehicle, construct a factory in Casa Grande, Ariz., and begin sales in North America by 2020.

Lucid and the PIF said they plan to work together to expedite the process of bringing Lucid’s vehicles to market.

Lucid Motors received a $1 billion investment from Saudi Arabia Monday that will get the Lucid Air electric vehicle through to commercialization by 2020. (Lucid Motors)

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