#China

Red Sea shipping

Saudi crude oil exports plummet as OPEC giant slashes production

Since July, the kingdom has pledged to implement a unilateral production cut of one million barrels a day on top of existing curbs

Xpeng

China’s Xpeng soars after buying Didi unit to consolidate market

As part of the deal, Xpeng plans to launch a new EV brand in partnership with Didi in 2024

BYD

Apple iPad maker BYD pays $2.2bn for Jabil’s China plants

The deal accelerates BYD’s expansion into mobile electronics making

China bans seafood from Japan

China bans seafood from Japan, restaurants brace for cost jump

Beijing curbs food imports from multiple prefectures in Japan as Tokyo begins to release wastewater from Fukushima into the Pacific

BRICS SUMMIT-SOUTH AFRICA

UAE, Saudi Arabia to join BRICS; President Sheikh Mohamed welcomes membership

The BRICS grouping has announced an expansion in its ranks with six new members, including UAE, Saudi Arabia, Ethiopia and Egypt

Saga group - Travel

Travel will represent a $15.5tn economy by 2033

The report by World Travel & Tourism Council reveals the top five most powerful travel and tourism economies as of 2022 in terms of GDP contribution

Alibaba

Alibaba’s e-commerce arm to hire 2,000 graduates

Taotian Group is recruiting the graduates for a range of roles including design, product and data

Etihad Cargo_Inaugural EHU Flight_

Etihad Cargo operates inaugural freighter flight to Ezhou Huahu Airport in China

The addition of Ezhou to Etihad Cargo’s network is the latest step in the carrier’s focus on the Chinese market

Tesla Model Y

Tesla cuts price of Model Y versions

The Model Y forms part of the stable of vehicles, along with the Model 3, which are the best-sellers for the company

Boeing 737

Dubai Aerospace Enterprise to acquire 64 Boeing 737 MAX aircraft

The Boeing 737 MAX airplane family delivers enhanced efficiency, improved environmental performance and increased passenger comfort to the single-aisle market

Insights: Economic growth requires reforms in higher education

The online higher education is growing and is estimated to touch $5bn by 2025

Yahsat reinforces presence in China image WAM

UAE’s Yahsat reinforces presence in China

The Asia Pacific region is amongst the main international markets for the company due to its popular solutions, which includes Thuraya’s MarineStar

Saudia inaugurates flights from Riyadh, Jeddah to Beijing

Saudia launches flights connecting Riyadh, Jeddah with Beijing

The new routes reinforce Saudi Arabia’s commitment to boost the growth of the tourism and aviation sectors

Saudi Arabia economic outlook

Saudi Arabia’s oil production cuts to slowdown growth, says IMF outlook

The impact of a slowdown in Saudi Arabia will be felt across the Middle East and Central Asia

Aramco closes 3.4bn deal for 10 stake in Rongsheng

Aramco completes $3.4bn deal for 10% stake in Rongsheng Petrochemical

The deal represents the continued growth of Aramco’s downstream presence in China

oil

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

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