Middle East

Date
2024-04-16

- This strategic investment will enhance the UAE’s position as a global AI hub and provide further opportunities for partners and customers to innovate and grow. - G42 and Microsoft will collaborate to ensure the benefits of secure AI technologies and cloud capabilities are responsibly shared with growing economies globally. - Microsoft’s Vice Chair and President Brad Smith will take a seat on the G42 Board. - Both companies will…


The World Bank has raised its expectations for Saudi Arabia’s economic growth to 5.9 percent in 2025 from 4.2 percent predicted earlier in January. In its latest report the bank, however, revised its 2024 forecast for the Kingdom’s gross domestic product growth downward to 2.5 percent from an earlier forecast of 4.1 percent.....


2024-04-16

Film sheds light on the importance of combating the impact of climate change on coral reefs. Red Sea Global (RSG), the developer behind regenerative tourism destinations The Red Sea and AMAALA, has announced a collaboration with leading global media and entertainment company Warner Bros. Discovery on a documentary film that sheds light on the vital importance of combating the impact of climate change on coral reefs. Beneath the Surface: The Fight…


2024-04-16

- The latest DMCC Future of Trade report on Web3 examines the drivers of growth and digital decentralisation in crypto, metaverse and DeFi - Metaverse global market value projected to rise to USD 3.4 trillion by 2027, with DeFi to reach USD 600 billion by 2032 - Artificial Intelligence will accelerate innovations in Web3 - The UAE is a global leader on crypto regulation through investor-friendly approach - DMCC is home to the largest concentratio…


2024-04-16

This 75th auction offers fancy plates for private and vintage vehicles as well as motorbikes Dubai’s Roads and Transport Authority (RTA) is offering 350 unique number plates of 3, 4 and 5 digits for private and vintage vehicles as well as motorbikes bearing (A-H-I-J-K-L-M-N-O-P-Q-R-S-T-U-V-W-X) codes.  Registration of bidders for this 75th online auction open Monday, April 15th, and bidding starts at 08:00 am on Monday, April 22nd, 202…


2024-04-15

Ducab Group, one of the biggest end-to-end solutions providers and manufacturing firms in the UAE, has revealed its strategic expansion into 20 new markets, bringing its geographic footprint to 75 countries. Leveraging 44 years of pioneering achievements, Ducab has established a formidable legacy, with a track record of over 5,000 successful projects and partnerships spanning the Middle East, Africa, Asia, Australasia, Europe, and the Americas. T…


2024-04-15

- Over 100 leading global construction companies briefed on the current progress of construction and breadth of opportunities on key projects throughout NEOM. - Nadhmi Al-Nasr, CEO of NEOM, emphasized the progress on the ground, the scale of future opportunities and commitment to collaborating with globally renowned contractors to achieve NEOM's vision. NEOM, the sustainable development taking shape in the northwest of Saudi Arabia, has brought t…


Delivered through a blended learning and self-paced format, the program took learners through the fundamentals of AI with the help of expert instructors. The inaugural edition of the Samsung Innovation Campus (SIC) -Samsung Electronics' signature artificial intelligence (AI) course, which was launched as a partnership with Qatar's Ministry of Sports and Youth as well as the country's Youth Entrepreneur Club- has anno…


The decision behind PureBorn's international expansion is solely driven by an increasing demand for the venture's eco-conscious baby products. PureBorn, a UAE-grown vegan baby care brand that designs hypoallergenic, ultra-absorbent diapers, wipes, and pants made with up to 43% organic bamboo, has announced the direct distribution of its products across Europe.....


2024-04-15

April 18, 2024 7pm-9pm Towers Rotana Sheikh Zayed Road Building relationships is essential to success! Dubai Networking Nights are FREE for members and only 55aed for guests, and (as always), the first drink is on us. There will also be snacks on hand to keep the conversation flowing so head on down to Teatro, Towers Rotana, on Thursday 18 April. You never know who you might meet. FREE for members and only 55 Aed for guests. More https://bit…


2024-04-14

22-23 APRIL 2024 JW MARRIOTT HOTEL MARINA   2000+ Web3 Stakeholders300+  Investors100+  Sponsors & Partners50+  Speakers30+  Countries Represented 22 APR 2024 9:00 am - 5:00 pm Registration starts at 8.30 am Onwards Conference sessions Tech Talks Exhibition Networking and Deal flow 23 APR 2024 9:30 am - 4:30 pm Registration starts at 9.00 am OnwardsConference sessions Tech Talks Exhibition Networking and Deal flow S…


2024-04-14

​The United Arab Emirates ranked first regionally in the 2023/2024 Human Development Index report issued by the United Nations Development Programme, advancing nine places in the global ranking from the previous report, to rank 17th globally out of 193 countries covered in the report, ahead of countries such as Canada, the United States, and Japan, thereby attaining a prestigious status and becoming the only Arab country among the top 20 global…


2024-04-14

Dubai Electricity and Water Authority (DEWA) has launched its smart app on Apple Vision Pro glasses, becoming the first utility to provide its services through this technology that combines augmented and virtual reality. DEWA is making use of the various capabilities and features of Apple Vision Pro to enhance customer services. The move supports DEWA’s efforts to enhance smart adoption and provide its services to all customers through vari…


2024-04-14

Dubai’s Roads and Transport Authority (RTA) announces that public transport means, taxis and shared mobility vehicles have transported about 5.9 million passengers during the holiday of Eid Al Fitr 1445H (10 to 12 April 2024).The breakdown indicates that Dubai Metro’s Red and Green Lines served 2.32 million riders, Dubai Tram lifted 115 thousand riders, public buses were used by 1.2 million passengers, and marine transport means ferri…


2024-04-13

22-24 April 2024 Dubai World Trade Centre Extra ordinary journey into the heart of family medicine Attain and explore the groundbreaking advancements in family medicine Post congress workshops More https://efmsociety.ae/


Both conferences are expected to bring together experts and leaders, within their respective industries, to discuss a wide range of themes. VAP Group, an India-headquartered blockchain consulting company that has offices in the UAE, Hong Kong, and the UK, has announced the inaugural editions of its flagship B2B events, the Global AI Show, and the Global Blockchain Show.....


Saudi Arabia’s investment landscape is poised for a prosperous future, fueled by its equity and debt markets, a range of economic experts have told Arab News. Senior figures from the Kingdom’s branch of investment bank J.P. Morgan, financial media outlet Bloomberg, and Saudi tourism funding firm ASFAR all spoke of the positive impact of the Vision 2030 economic diversification strategy.....


2024-04-12

Dubai Electricity and Water Authority (DEWA) is organising the 26th Water, Energy, Technology and Environment Exhibition (WETEX) from 1st to 3rd October 2024 at the Dubai World Trade Centre. Saeed Mohammed Al Tayer, MD and CEO of DEWA, Founder and Chairman of WETEX, said that as one of the largest specialised exhibitions in the world, WETEX supports the UAE and Dubai's efforts to mobilise international efforts aimed at accelerating the energy tra…


An under-construction 217-room 5-star hotel property near Bengaluru airport, owned by Abu Dhabi-based Twenty Fourteen Hotels India Pvt. Ltd, is on the market for ₹2 crore per room, or an estimated ₹400 crore, at least three people aware of the matter said. While a private equity fund has expressed interest, and is willing to pay ₹350 crore for the property, an additional ₹40-50 crore will be required to complete the construction, said two…


With an aim to attract tech startups to either establish or expand their presence in Qatar, Startup Qatar provides funding for both seed and growth-stage companies. The Investment Promotion Agency Qatar (Invest Qatar) has launched Startup Qatar, a one-stop online platform that caters for all needs of startup businesses in Qatar.   Within only six days since its launch at the Web Summit Qatar 2024 (which, in its first edition, …


Axis Health and WebOps have not just formed a strategic partnership; they are architects of change. In the rapidly evolving landscape of healthcare and medical technology, a transformative journey is unfolding in the Middle East. Axis Health and WebOps have not just formed a strategic partnership; they are architects of change...


"One of the most significant life lessons I've learned along the way is the importance of recognizing and seizing opportunities for growth, both in business and in life." Maria Pavani founded her specialty coffee startup Tres Marias Coffee Company in Dubai in 2019 after noticing many cultural similarities between the UAE and her native Brazil, especially with respect to the two nations' love of hosting family and friends over a cup of g…


While online trading has been around for decades, mobile equities trading platforms found themselves gaining popularity during the global pandemic in the early 2020s, with apps like the U.S. Robinhood attracting millennials and Gen Z to invest in stocks like never before. However, the market in MENA has proven different, with traditional firms maintaining their advantage.   Recognizing the global leap, two Egyptian entrepreneurs and former U…


The foreign assets of Saudi Arabia’s commercial banks surged by 22 percent in February, reaching a total of SR347.63 billion ($92.7 billion), compared to the same month of the previous year. This notable increase, as reported by recent data from the Kingdom’s central bank, also known as SAMA, reflects a significant expansion in the institution’s international holdings and investments.....


Saudi Arabia’s capital has been placed 25th in the International Institute for Management Development Smart City Index this year, up five spots since 2023. The assessment, which evaluates various structures and technologies in the city, underscored Riyadh’s strengths in health and safety, mobility, and governance.....


2024-04-11

The National Service Career Fair aims to secure the educational and professional future of National Service program graduates. 13 – 15 May 2024 Dubai Exhibition Centre (DEC) – Expo City Dubai The National Service Career Fair is organized by INDEX Conferences and Exhibitions, in collaboration with the UAE Armed Forces. This exhibition aims to open channels of communication between graduates from the national and reserve service in the …


In Egypt, cash is king. Around 69% of the population is still without a bank account, according to a 2023 report by FinTech Egypt, an initiative by the Central Bank of Egypt (CBE). However, Africa’s largest economy, which brought in $476.7 billion in GDP at purchaser's prices in 2022, has been making strides toward financial inclusion. According to the CBE, the country’s financial inclusion rate climbed to 70.7% in December 2023, comp…


Arab Federation of Capital Markets (AFCM) and the London Stock Exchange Group (LSEG) are partnering to boost investors' visibility and understanding of the Middle East and North Africa (MENA) region by providing them with access to tools and information.   Collaboration The collaboration will result in LSEG’s Workspace platform becoming the host for exclusive content generated by members of the AFCM, according to a statement relea…


2024-04-10

18-19 APRIL 2024 MADINAT JUMEIRAH - Dubai THE PREMIER CRYPTO EVENT  TOKEN2049 is a global conference series, where the crypto ecosystem's decision-makers connect to exchange ideas, network, and shape the industry. TOKEN2049 is the pre-eminent meeting place for entrepreneurs, institutions, industry insiders, investors, builders, and those with a strong interest in the crypto and blockchain industry. ​Previous editions have been held in lead…


This story appeared in our April 2024 issue, featuring our Fintech 50 ranking.   In 2023, while overall funding for startups saw a decline in the Middle East, the fintech sector emerged as the primary recipient of investment. According to Wamda, fintech startups secured $2.3 billion last year, taking 58% of the total $4 billion pot, inclusive of debt. However, for these fintechs to further develop and operate, they need open bankin…


2024-04-09

Investment Corporation of Dubai (ICD) and Brookfield Corporation (Brookfield) today announced an agreement with Olayan Financing Company and Lunate for the sale of a 49 percent stake in ICD Brookfield Place (ICDBP), a world-class commercial and retail property located in the Dubai International Financial Centre (DIFC). Upon completion, Lunate, through one of its funds, and Olayan Financing Company will each own a 24.5 percent equity interest in I…


MENA’s banking sector has shown resilience over the last year, supported by higher interest rates and oil prices. According to Fitch Ratings’ 2024 outlook report, rising interest rates and oil prices will support overall solid economic conditions for the Middle East and maintain reasonable levels of liquidity, profitability, and adequate capital buffers in most GCC banking systems in 2024. Our 2024 list of MENA’s 30 most valuabl…


Saudi Arabia’s industrial sector experienced a 63 percent increase in new investments in 2023, amounting to a SR15 billion ($3.99 billion) rise compared to the previous year.  According to the annual report from the Saudi Authority for Industrial Cities and Technology Zones, the cumulative funding last year reached SR415 billion, distributed across 891 projects encompassing both local and foreign ventures......


2024-04-09

The Jeddah Historic District enjoyed a bustling Ramadan season, successfully implementing its service and crowd management plans to welcome a staggering 2.5 million visitors. Beyond the impressive number of visitors, the district has emerged as a model for sustainable practices, urban development, and maintaining a secure, well-organized, and easily navigable environment. The seamless operation during Ramadan can be attributed to a robust facilit…


2024-04-09

As Dubai Police, represented by the General Department of Criminal Investigation, arrested 494 individuals involved in 406 phone fraud cases targeting bank customers under the guise of "updating banking information" over the past year. The fraudsters utilised various deceptive methods, including phone calls, emails, SMS, and social media links, to trick victims and access their savings and bank accounts. Dubai Police seized significant amounts of…


2024-04-08

Situated on the Arabian Gulf coast, King Abdul Aziz Port in Dammam is the largest in the Kingdom, and the epitome of success.It is one of the forces driving the significant industrial and economic renaissance of the country; it boosts the Kingdom's leadership in the maritime sector, maximizes its transport capacity and logistics services, and helps it develop its economy. The port boasts key operational and logistical capabilities, including 43 f…


2024-04-08

24 - 26 April 2024Dubai International Convention & Exhibition Centre  The Global Education & Training Exhibition is MENA’s leading student recruitment event, and a highly effective platform for education providers looking to achieve their student admission targets and enrollment quotas.   First held in 1984, GETEX is recognised for its impressive track record in enabling institutions to enga…


2024-04-08

Dubai Electricity and Water Authority (DEWA) continuously develops a customer’s journey by utilising digital solutions and AI in all its services and operations. DEWA aims to provide proactive, advanced, seamless, and integrated digital services through shared channels to meet customers’ needs and exceed their expectations. It is also committed to supporting sustainability efforts and reducing its carbon footprint. It implements the &…


2024-04-08

The Abu Dhabi Securities Exchange (ADX) and Dubai Financial Market (DFM) logged nine large direct deals executed on 305.7 million shares worth AED1.6 billion during Ramadan. According to market data, ADX saw the execution of five large direct deals on 243.4 million shares worth AED683.3 million. These included an AED509.8 million deal executed on 27.7 million e& shares at a price of AED18.34 per share; an AED37.8 million deal on 5.2 million E…


2024-04-08

23-24 April 2024 World Trade Centre Dubai Loyalty Connect Dubai 24 , will connect global key brands, MarTech, SaaS and agencies that contribute to the global loyalty marketing industry over two days in Dubai. 
This is the only global event of its kind in the Loyalty industry which delivers a 2 day highly focused agenda leading the narrative of the loyalty industry, 40+ exhibitors showcasing the latest technology and innovations, culminating in …


Qatar’s real estate market has continued its upward trajectory growth during the first three months of this year. Realty sector witnessed deals worth QR4.253bn in the third quarter (Q3) of 2024, according to Ministry of Justice data. Qatar’s market is poised to benefit in the long-term, driven by several infrastructure projects and developments, expansion of the industry across the country, and investment-friendly initiatives implemen…


The report issued by the “Market and Research” group provides valuable insights into the Kuwaiti perfume market, highlighting various factors driving its growth and projecting its future trajectory, reports Al-Anba daily.....


"Our primary goal is that both seller and buyer are able to transact at a price that fairly reflects the true market value of the car with as little fees and logistical costs as possible." In 2017, when Alexandra Mary "Alex" Hirschi decided to steer her career away from broadcast journalism towards creating social media content that truly resonated with her passion for the world of cars and technology, it led to the launch of Supercar Blondi…


Economic ties between Saudi Arabia and Iraq are poised to strengthen further with the signing of 12 memorandums of understanding for quality investment projects.  The Kingdom’s Ministry of Investment announced on ‘X’ that this agreement with the Iraq Development Fund and Saudi companies will enhance cooperation in various investment projects with Baghdad....


New additions to the premium residency visa options by the Saudi government this year could open the Kingdom’s market to affluent expatriates and investors, a survey said.  According to the report released by real estate consultancy Knight Frank, this initiative is a pivotal shift in the Kingdom’s approach to residency and property ownership by non-Saudis and is expected to have substantial implications for the demand dynamics of…


2024-04-07

The Sustainable Agricultural Rural Development Program (Reef Saudi) has reaffirmed its commitment to supporting the Kingdom's coffee sector. Since its inception in 2020, the program has allocated a total of SAR61 million in support, reaching 3,718 beneficiaries. Reef Saudi reported a significant increase in coffee production. From 2020 to 2023, production volume has grown by 37%, reaching 1,485 tons, compared to 800 tons in 2020. The program's am…


2024-04-07

The Public Establishment for Industrial Estates (Madayn), represented by the General Directorate of Investor Services, signed a cooperation programme with Al Munasiq Customs Services Company, as part of Madayn's endeavour to enhance the added value for investors in its industrial cities. This is through cooperation with private sector institutions with competence and experience in various fields to provide quality services to investors. The coope…


2024-04-07

In Conjunction With 15th Annual Emirates Cardiac Society Congress APSC-ESC2024 - the paramount event that unites The 15th Emirates Cardiac Society Annual Congress (ECSC 2024) and 28th The Asian Pacific Society of Cardiology Congress (APSC 2024). This international forum is meticulously designed to provide cardiologists worldwide with a unique opportunity to connect, learn, and empower each other while advancing global cardiology. 2-4 May 2024 Dub…