Exclusive Development Sudan telco network still up despite escalating conflict Despite electricity outages and fuel shortages in heavily contested parts of Sudan, the telecom network of the country’s top mobile operator remains functional in most areas, a spokesman for the company’s parent firm told AGBI. Zain Sudan, which is wholly owned by Kuwait’s Zain group, had 16.4 million subscribers and a 48 percent market share […] May 5, 2023
Opinion Agriculture Lengthy war in Sudan could jeopardise Gulf food security Sudan’s now-protracted conflict could have ongoing and unforeseen consequences, not only for the war-ravaged African state, but for its trade connections, including the GCC As Sudan’s warring militaries – the Sudanese Armed Forces (SAF) and Rapid Support Forces (RSF) – battle for supremacy, catastrophic damage is being wrought on the nation’s already rundown infrastructure and utility […] May 4, 2023
Banking & Finance Tecom Group’s Q1 2023 profit jumps 34% to $69m Dubai business park operator Tecom Group reported a 34 percent year-on-year rise in net income to AED255 million ($69.44 million) in the first quarter of 2023, driven by strong revenue growth, improved operational efficiencies and sustained growth across all business segments. The group’s revenue increased 6 percent year on year to AED514 million, while EBITDA […] May 4, 2023
Tech Mubadala secures $500m stake in US broadband firm Brightspeed, a US-based broadband and telecommunications services company, has received a $500 million investment from Mubadala Investment Company, the sovereign investor of Abu Dhabi. Mubadala will become a minority shareholder, joining investment funds managed by affiliates of Apollo Global Management, a statement said. Brightspeed, headquartered in Charlotte, North Carolina, says it has the capability to […] May 2, 2023
UAE to launch homegrown Arabic ChatGPT model Artificial intelligence firm G42 is on the verge of launching its own versions of ChatGPT, including the largest Arabic language platform. G42 group chief executive officer Peng Xiao said it was “working on it as we speak”. “Arabic is a major body of language in the world but not served at all by the big […] April 28, 2023
Japan’s ispace fails in first private moon landing bid Japanese startup ispace Inc said its attempt to make the first private moon landing had failed after losing contact with its Hakuto-R Mission 1 (M1) lander, concluding it had most likely crashed on the lunar surface. “We lost communication, so we have to assume that we could not complete the landing on the lunar surface,” […] April 26, 2023
Tech AD Ports digital arm buys customs systems firm Maqta Gateway, the digital arm of AD Ports Group, has acquired TTEK Inc, a developer of border control solutions and customs systems, in a deal worth $26.7 million. The acquisition involves an upfront payment of $17.1 million and adds to Maqta Gateway’s digital trade solutions portfolio, which uses disruptive technologies such as artificial intelligence, machine […] April 24, 2023
EXCLUSIVE Tech RedSea rules out listing in search for growth Sustainable agriculture business RedSea has revealed plans to raise extra funds, but has ruled out a listing for the company for the moment. Founded in 2018 by plant scientist Mark Tester, agriculture engineering expert Ryan Lefers and material scientist Derya Baran, the Saudi-based agtech startup aims to find ways to feed populations in the face […] April 24, 2023
Koreans tap cash-giving apps to help beat rising inflation Throngs of people have been milling seemingly aimlessly around the forecourt of a museum in central Seoul, brushing silently past each other with heads bent toward smartphones while fingers frantically tap screens – in the latest money-making trend. Walking 10,000 steps, completing tasks such as subscribing to social media, or just tapping the screen when […] April 24, 2023
Banking & Finance Saudi Telecom unit to buy European towers for $1.34bn Tawal, a Saudi Telecom Company (STC) subsidiary, has agreed to buy tower infrastructure worth 1.22 billion Euros ($1.34 billion) from United Group’s telecommunications tower assets. The agreement supports STC’s strategy to expand its international footprint in key markets with significant growth potential, the Saudi-listed telecom firm said in a statement. STC is majority owned by […] April 21, 2023
Exclusive Banking & Finance Al Fardan Exchange chases fintech tie-ups Al Fardan Exchange is ramping up its digital business to compete in the technology-driven financial services industry. The 50-year-old money transfer and currency exchange house plans to forge partnerships with fintech firms to double down on growth. Digital transactions currently make up 15 percent of UAE-based Al Fardan’s business via an app that was launched […] April 20, 2023
Video length: 03:47 Video Middle East tech sector’s hire and fire conundrum The mass layoffs in the global tech sector last year were the highest since the dot-com bubble burst in 2001, but they are not necessarily a reflection of the job market globally or in the Middle East, according to a Dubai-based digital transformation and Web3 expert. “The layoffs only constitute 10 percent of all the […] April 20, 2023
Health M42 buys European dialysis group Diaverum Abu Dhabi’s newest tech-enabled healthcare company, M42, has made its first investment with the acquisition of Diaverum, a global renal care service provider. The value of the deal for Bridgepoint Group’s European dialysis clinic chain was not disclosed, although previous reports by Bloomberg suggest it could be in the region of $2.5 billion. M42 launched […] April 19, 2023
Cop28 UK-UAE deal to roll out ‘miracle material’ graphene A University of Manchester company has forged a $1 billion partnership in the UAE to spearhead the drive to commercialise graphene, the “miracle material” that’s stronger than diamond, more conductive than copper and more flexible than rubber. Graphene Innovations Manchester (GIM) has signed a memorandum of understanding with Quazar Investment Company to set up the […] April 19, 2023
Employment GCC consulting market to exceed $4 billion The GCC consulting market is expected to pass $4 billion in revenues this year, as the huge raft of giga-projects continue to transform the region. According to a report from UK research firm Source, the region’s consulting sector witnessed almost 16 percent growth in 2022 to reach $3.87 billion. Dane Albertelli, research analyst at Source, […] April 18, 2023
Tech Malaysia to launch new 5G network next year Malaysia plans to introduce a second 5G network from next year, four sources told Reuters. It is the latest policy shake-up aimed at dismantling monopolies and promoting competition from Prime Minister Anwar Ibrahim’s six-month-old administration. Malaysia’s 5G roll-out by state agency Digital Nasional Berhad (DNB) has experienced repeated delays since its launch in December 2021 because of industry concerns over […] April 17, 2023
Tech Mena IT spending to lag behind global average IT spending across the Middle East and North Africa is forecast to drop below the global average this year as rising inflation dents consumer spending. While global growth in IT spending is expected to hit 5.5 percent by the end of this year, predictions for the Mena region show just a 2 percent increase, according […] April 17, 2023
ChatGPT founder’s visit gets Dubai talking about AI Sam Altman, CEO of OpenAI, the company that created controversial artificial intelligence-powered chatbot ChatGPT, is heading to Dubai this summer as part of a world tour to meet with users, developers and policymakers. Industry observers say the executive’s stop in the city is recognition of the Gulf’s digital advancement and anticipate that OpenAI will establish […] April 14, 2023
Tech China’s Didi Global to roll out robotaxis by 2025 Chinese ride-hailing giant Didi Global has said that it is working with carmakers in the country to develop its own robotaxis, which it aims to put into service by 2025, after revealing a concept vehicle with robotic arms it called “Didi Neuron”. The company said that it is collaborating with multiple new energy carmakers in […] April 14, 2023
Tech Elon Musk says Twitter is ‘roughly breaking even’ Twitter Inc CEO Elon Musk has said the social media company is “roughly breaking even”, as most of its advertisers have returned and its aggressive cost-cutting efforts have started bearing fruit after massive layoffs. Musk, in an interview with BBC broadcast live on Twitter Spaces, said Twitter has about 1,500 employees now, a sharp decline […] April 13, 2023
Opinion Media & Advertising Region’s advertisers shoot for ‘Oscars’ in Cannes The Dubai Lynx Awards points to a promising showing in the Côte d’Azur April 12, 2023
Tech Brazil now has the Edge in defence technology Technology and defence giant Edge Group is opening a new regional office in Brazil’s federal capital, Brasilia. The office is part of Abu Dhabi-based Edge’s plans to take advantage of opportunities in local markets as experts expect defence spending in Brazil to increase to nearly $25 billion this year. The announcement was made at LAAD […] April 12, 2023
