Analysis Sustainability UAE consumers eager to learn about sustainability Interest in sustainability is soaring in the UAE, with 90 percent of consumers eager to receive more information on sustainable living, according to the Sustainability Trends Report 2023. The report was commissioned by Alibaba Group, the Chinese multinational technology company based in Hangzhou. Consumers are demanding sustainable and eco-friendly business practices, making it imperative for […] October 31, 2023
Tech du profit grows 58% to $137m as subscriber base increases Emirates Integrated Telecommunications Company (EITC), the operator for the du and Virgin Mobile brands in the UAE, said net profit rose 57.7 percent year on year to AED504 million ($137.22 million) in the third quarter of 2023. The telco reported the highest quarterly level over the last three years, driven by the ongoing demand for […] October 31, 2023
Tech STC rules out increasing Telefonica stake to 9.9% Saudi Arabia’s largest telecom operator STC Group will maintain a 4.9 percent stake in Spain’s Telefonica and has no plans to convert the five percent it holds in derivatives into voting shares, Spanish El Economista news outlet reported, citing informed sources. STC acquired a 9.9 percent stake in Telefonica for SAR8.5 billion ($2.25 billion) as […] October 31, 2023
Finance Mena startup exit shortage looming – VC fund CEO The Middle East faces a looming shortage of startup exits, despite a substantial pool of capital available in the region, according to a leading venture capital fund CEO. In mature markets such as the US, private corporations routinely make multibillion-dollar bids to acquire potential future rivals or emerging startups poised for substantial growth. But this […] October 31, 2023
Sustainability UAE mangrove restoration project to be global template A project to restore mangroves around Abu Dhabi will be used as a template and exported around the world. Environment Agency Abu Dhabi and environmental tech company Dendra are working to plant 27 million mangroves in the UAE capital by 2030, in partnership with the emirate’s sovereign wealth fund ADQ. It makes up almost a […] October 30, 2023
Tech Emirates companies turn to AI in pursuit of cybersecurity More than 90 percent of UAE organisations plan to increase investment in artificial intelligence (AI) technologies to strengthen their cybersecurity strategies, according to a study conducted by a UK-based market research consultant Censuswide and commissioned by Palo Alto Networks. UAE companies can make use of AI in their cybersecurity strategies by using it to analyse […] October 27, 2023
Analysis Trade UAE-Swiss trade golden age adds technology to luxury The trade relationship between the UAE and Switzerland is enjoying a golden era, with the European nation now the top non-oil destination for Emirati exports. Gold, jewellery and luxury watches traditionally dominated non-oil bilateral trade but innovation is growing in importance, according to Swiss Business Hub Middle East. It said that technology was increasingly important […] October 26, 2023
Industry Aspace granted licence to build satellite facility in Saudi Arabia Hong Kong-based Aerospace Technology Group Limited (Aspace) will invest SAR1 billion ($266.58 million) to set up an advanced satellite manufacturing company in Saudi Arabia after being granted the first investment licence in the space sector. The facility will manufacture components, subsystems and satellites, state-owned Saudi Press Agency reported. Abdullah Al-Swaha, chairman of the Saudi Space […] October 26, 2023
Banking and Finance Gulf’s ‘copycats’ still attractive to Silicon Valley Copycat companies in the Middle East are still an attractive acquisition option for Silicon Valley giants because the risk of trying to establish themselves in the region is too high, according to Thiel Capital managing director Jack Selby. The Middle East has been criticised for mimicking startups from other parts of the world, rather than […] October 24, 2023
Tech Trash to treasure: how the Gulf is tackling e-waste Looking to buy a new smartphone? What are you going to do with your old one? Consumer appetites for the latest phones, tablets and wearables are making electronics the fastest-growing category of waste in the world. The amount of electronic waste in landfills worldwide is forecast to reach 74 million tonnes a year by 2030, […] October 24, 2023
Opinion Tech Halting the march of malicious bots To understand the extent of bad bot activity, organisations must first acknowledge their existence October 23, 2023
Tech PIF-backed Rakiza buys 39% of Omani broadband developer Oman Infrastructure Fund, known as Rakiza, has acquired a 39 percent stake in Oman Broadband Company, the government arm developing broadband infrastructure in the sultanate. Rakiza, backed by Saudi Arabia’s Public Investment Fund, bought the stake from ITHCA Group, a Muscat-based venture capital firm. The price was not disclosed. The investment is Rakiza’s fourth acquisition […] October 23, 2023
Opinion Economy Davos without the fondue – the WEF Global Future Councils The GFC is an insightful introduction to the World Economic Forum – and a nerd’s paradise October 20, 2023
Video length: 3:34 VIDEO Tech New sectors to drive e& growth as telecoms becomes ‘saturated’ UAE tech and telecoms company e& – formerly Etisalat – is looking at more acquisitions in the GCC as well as Africa and Eastern Europe. “We are in processes as we speak,” said Salvador Anglada, CEO of e& enterprise, during an exclusive roundtable at Gitex. The telecoms major rebranded from Etisalat last year to become […] October 20, 2023
Sustainability Just 12% of Mena businesses have net zero target Businesses in the Middle East and North Africa (Mena) “lag behind” their global peers in terms of net zero targets, according to a report by the World Economic Forum and US consultancy Bain & Company. WEF evaluated the disclosure and sustainability measures of around 200 publicly listed and private companies across Mena’s nine biggest economies. […] October 20, 2023
Tech G42 and OpenAI launch regional partnership Abu Dhabi’s leading artificial intelligence company G42 is teaming up with OpenAI, the research and development company behind ChatGPT, to develop AI in the UAE and regional markets. The partnership, announced on Wednesday, aims to leverage OpenAI’s generative AI models across sectors where G42 already has expertise, including financial services, energy, healthcare and public services. Using solutions […] October 18, 2023
Entrepreneurs Middle East needs to make it easier to launch startups The Middle East is a “very attractive” market for entrepreneurs but its fragmented nature is a barrier to entry, even as jurisdictions compete to attract international startups, executives said at an industry event in Dubai. “None of the countries in the region are large enough or full enough to be an ecosystem on their own,” […] October 17, 2023
Agriculture Dubai’s Expo City to open ‘urban farm’ at Cop28 Expo City Dubai plans to open an urban farm at Cop28, demonstrating agricultural technologies being adopted in the UAE. The farm – more details of which will be unveiled in the coming weeks – is one of several decarbonisation initiatives planned for the climate change summit and beyond, Matt Brown, Expo City’s sustainability chief, told […] October 17, 2023
Opinion Tech Why do we click? The psychology behind phishing attacks Understanding our online behaviour is a crucial step towards protecting our digital lives and businesses October 16, 2023
Tech UAE businesses and families splurge on video surveillance Dubai retail conglomerate Majid Al Futtaim has signed a deal to use artificial intelligence to boost security systems at its malls across the region. The company has signed an AED3.5 million ($950,000), three-year deal with Australia-based Icetana to upgrade camera streams at 16 of its sites. Icetana’s AI software can identify and report unusual or […] October 13, 2023
Tech Dubai calls for global unity to regulate generative AI Senior Dubai officials and executives have called for more global regulation of generative artificial intelligence, but dismissed the notion that the technology will lead to widespread job losses. “We need to be ready … We need to understand how we can regulate something as big as AI,” Khalfan Belhoul, CEO of the Dubai Future Foundation […] October 13, 2023
Analysis Tech How generative AI is gaining momentum in Mena Generative AI has dominated headlines for almost a year since the launch of US artificial intelligence-powered chatbot Chat GPT in November 2022. The coverage of ChatGPT has been mixed – the technology had many in awe at first, but a data breach affecting a reported 100,000 accounts soon sparked security concerns. The story is still […] October 12, 2023
