Mashreq Appoints Xi Liang as Head of Artificial Intelligence
Mashreq welcomes Xi Liang to its team and is confident that her expertise will be instrumental in shaping the bank's AI strategy and driving sustainable innovation in the financial industry.
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KIB offers its Black segment customers complimentary airport transfers in luxury limousine vehicles in partnership with Wiyak
Kuwait International Bank (KIB) announced the launch of an exclusive new offer for its Black segment customers, providing complimentary airport transfers in luxury limousine vehicles, in collaboration with its trusted partner, Wiyak. This initiative comes as part of KIB's ongoing commitment to delivering an exceptional banking experience and premium benefits to its valued customers, reflecting the Bank's dedication to elevating service standards and enhancing the overall customer on the offer, Mariam Al-Nasser, Head of Branches and Premier Banking at KIB, said: 'At KIB, we are committed to enriching the experience of our Black segment customers through carefully tailored services that align with their lifestyle and meet their aspirations. Our collaboration with Wiyak falls within this vision, offering a luxury transport service that ensures the highest levels of comfort and privacy, from the moment they depart to their return from travel. We believe that excellence lies in the details, and we continuously strive to enhance our offerings and services in a way that reflects the stature of our customers and their trust in the Bank.'Al-Nasser concluded by reaffirming KIB's commitment to expanding the range of benefits offered to its customers and continuing to launch more innovative partnerships that enhance the added value of its banking this partnership with Wiyak, KIB Black segment customers can now enjoy complimentary, comfortable, and seamless limousine transfers to and from the airport. To take advantage of this offer, eligible customers can call or reach out via WhatsApp on 22211221 to book their ride at least 24 hours prior to their departure date. Additionally, KIB Black customers holding Visa Infinite credit cards are entitled to a discount of up to 15% on all transportation and car rental services offered by Wiyak. It is worth noting that KIB offers its Black segment customers a wide range of premium banking solutions and products, in addition to a variety of exclusive benefits. These include priority processing of banking and financial transactions through a dedicated relationship manager, access to designated premium banking lounges at branches, a VIP phone service, and priority booking for branch visits via the website or the KIB Mobile app. Customers also enjoy free local and international transfers, as well as a 50% discount on safe deposit boxes.
Al Bawaba
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Arab Bank Group Profits Grow by 6% to $535 Million for the First Half of 2025
Arab Bank Group reported solid results for the first half of 2025, with 6% increase in net income after tax reaching $535.3 million as compared to $502.8 million for the same period last year. The Group maintained its strong capital base with a total equity of $12.5 Group's Assets grew by 9% to reach $75.2 billion, loans of $39.8 billion showed a net growth by 6%, and deposits grew by 9% to reach $55.3 on the bank's performance, Mr. Sabih Masri, Chairman of the Board of Directors stated that the strong results achieved in the first half of 2025 are a clear testament to the effectiveness of the bank's strategy and the resilience of its operating model. He noted that despite ongoing economic headwinds and regional geopolitical uncertainties, the bank continued to prudently grow its operations and deliver sustainable growth and healthy returns for ahead, Mr. Masri affirmed the bank's commitment to executing its integrated corporate strategy and long-term vision, with a clear focus on meeting the evolving expectations of both shareholders and clients."Mr. Masri emphasized that Arab Bank Switzerland completed the merger of Gonet & Cie SA ('Gonet') and ONE swiss bank SA ('ONE') and strengthen its presence in Switzerland and operational entities abroad. Arab Bank Switzerland Group assets under management increased to reach CHF 18 Randa Sadik, Chief Executive Officer, stated that the underlying performance of the Group continues its growth trajectory with first half results recording a healthy increase of 5% in revenue while maintaining a solid balance sheet growth of 9%.Ms. Sadik emphasized that the bank remains focused on maintaining high liquidity and preserving its high asset quality. The Group's loan-to-deposit ratio stood at 72% and credit provisions held against non-performing loans continue to exceed 100%. Arab Bank Group maintains a strong capital base that is predominantly composed of common equity with a capital adequacy ratio of 17.1%. It is worth mentioning that Arab Bank has recently received the "Best Bank in the Middle East 2025" award from New York-based Global Finance magazine, a testament to its leading position in the regional banking sector. © 2000 - 2025 Al Bawaba ( Signal PressWire is the world's largest independent Middle East PR distribution service.
Al Bawaba
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From OpenAI to Meta: ChatGPT architect joins Zuckerberg's billion-dollar AI bet
Published July 26th, 2025 - 12:37 GMT ALBAWABA - Meta CEO Mark Zuckerberg has appointed Shengjia Zhao, a founding figure behind OpenAI's ChatGPT, as Chief Scientist of Meta's newly established Superintelligence Labs, the company's latest venture into advanced artificial intelligence research. Also Read Israel launches a new wave of airstrikes on southern Lebanon The announcement, reported by CNBC, marks a significant step in Zuckerberg's aggressive AI hiring and investment campaign, which includes a $14 billion investment in Scale AI and the launch of Meta Superintelligence Labs — a division dedicated to building cutting-edge AI models and infrastructure. Though Zhao's name was listed in Meta's internal June hiring memo, Zuckerberg confirmed on Friday that Zhao co-founded the Superintelligence Labs and has served as its Chief Scientist "since day one." He will work closely with Zuckerberg and Alexander Wang, the former CEO of Scale AI and now Meta's Chief AI Officer. In a social media post, Zuckerberg praised Zhao's leadership in AI innovation, writing, 'Shengjia has led several breakthroughs, including a new approach to scaling models. He has established himself as a leader in the field, and I look forward to working closely with him to bring his scientific vision to life.' The new Chief Scientist of Facebook's Superintelligence Labs is Chinese. Shengjia Zhao did his Bachelor's at Tsinghua University and then came to the US to study at Stanford. He was also the co-creator of ChatGPT. How China and immigration make America great again! — S.L. Kanthan (@Kanthan2030) July 26, 2025 A Track Record of AI Innovation Zhao's AI credentials are extensive. At OpenAI, he played a key role in developing ChatGPT, GPT-4, and several advanced iterations such as GPT-4.1, O3, and a range of compact AI models. He also headed OpenAI's Synthetic Data Division, contributing foundational work to model training and scalability. His recruitment is part of Meta's broader ambition to dominate the next generation of artificial intelligence. The Meta Superintelligence Labs will be responsible for developing foundational AI models, such as the LLaMA open-source model series, alongside conducting high-level AI research. Billions Poured Into AI Infrastructure Zuckerberg has recently declared that Meta is prepared to invest 'hundreds of billions of dollars' into building the computing infrastructure needed to support its superintelligence ambitions. The company's goal is to position itself at the forefront of AI development, competing with major players like OpenAI and Google DeepMind. With Zhao now leading the scientific front and Wang overseeing strategy, Meta is positioning its Superintelligence Labs as a major force in the race toward artificial general intelligence (AGI). © 2000 - 2025 Al Bawaba (
