China artificial intelligence bid seeks $59 billion industry

BEIJING, HONG KONG China aims to make the artificial intelligence industry a “new, important” driver of economic expansion by 2020, according to a development plan issued by the State Council. Policymakers want to be global leaders, with the AI industry generating more than 400 billion yuan ($59 billion) of output per year by 2025, according …

Billionaire Ambani’s new $23 phone slams rival’s share prices

MUMBAI: The Indian tycoon who punched his way into the country’s mobile phone industry by starting a carrier with free services took another swing at rivals, unveiling a cheap feature phone with access to unlimited data. Competitors’ shares plunged. The wireless unit of billionaire Mukesh Ambani’s retail-to-refining conglomerate will offer a data-enabled feature phone for …

Dubai Customs says employee ideas have generated an extra Dh1.07b

DUBAI An aggregate of Dh1.07 billion has been generated by Dubai Customs, DC, in income and cost savings from 2004 to the end of 2015 thanks to the implementation of innovative 17,771 ideas and suggestions by the employees. Hussain Fardan, Manager of Innovation Center at DC, has attributed the remarkable returns on innovation to the …

Dewa wins three International CSR Excellence Awards

DUBAI Dubai Electricity and Water Authority, Dewa, has won three awards in the International Corporate Social Responsibility, CSR, Excellence Awards 2017. Dewa received the Gold Award in the Best Initiative category for its Emission Reduction Programme, the Silver Award in CSR for the Dewa Sustainability Report 2015, and the Bronze Award in Education for its …

Turkey-Germany spat risks $36b in trade

BERLIN, ANKARA Germany and Turkey traded barbs over democratic values as relations between the Nato allies slumped to their lowest ebb of the postwar period. Chancellor Angela Merkel’s veteran finance minister, Wolfgang Schaeuble, compared Turkey to the former communist East Germany, while Turkish Foreign Minister Mevlut Cavusoglu said his country wouldn’t give in to threats …