Tech Turkey fines TikTok for weak data protection measures Turkish authorities have fined TikTok 1.75 million lira ($93,000) for not taking sufficient measures to protect users from unlawful processing of their data, the Personal Data Protection Board (KVKK) said on Wednesday. The fine comes amid growing international concern over the Chinese short video-sharing app and who accesses its user data. Government institutions in Europe […] March 2, 2023
Tech AeroFarms: the US business growing up (and up) in the Gulf Agtech giant AeroFarms is seeding its indoor vertical farms all over the Gulf, launching significant ventures in the UAE, Saudi Arabia and Qatar. The US company is set to play a pivotal role in tackling problems of farming in the desert-climate region, which has historically imported around 90 percent of its food requirements. AeroFarms claims […] March 1, 2023
Tech Baiting the hook to develop Saudi’s aquaculture industry Aquaculture – farming in water – is the world’s fastest-growing food sector, accounting for more than half of global seafood supply. For Saudi Arabia, eager to bolster its food security and to build non-oil exports, this is an opportunity. On February 12, Arabian Agricultural Services Company (Arasco) signed an agreement with Neom Food and Cargill, […] March 1, 2023
Tech Egypt’s farmers are prepping the soil for a digital revolution Agriculture may be the world’s least digitised industry. While machine learning and artificial intelligence are transforming many areas of our lives, in many countries farming is behind the curve. “Agriculture has been slow to transform and that’s largely because it happens in rural locations and it’s also very fragmented,” said Andy Jenkinson, chief technology at Varda, […] March 1, 2023
Tech The vertical farms stacking up across the UAE Food security is a top priority in the UAE government’s development goals outlined in its National Strategy for Food Security. Political will and private sector innovation are combining, and the result is an unprecedented wave of agricultural technology initiatives that aim to improve food self-sufficiency. Across the Gulf, the vast majority of food requirements have […] March 1, 2023
Tech Top 10 agtech innovators shaping the Mena market Lush plains criss-crossed by fresh water lakes and grasslands where hippos and elephants roamed. This was the Arabian peninsula in prehistoric times, according to archaeologists who have uncovered traces of fertile landscapes beneath the desert sands. Today the terrain looks very different, as the region’s governments race to confront food scarcity on a warming planet. […] March 1, 2023
Markets UAE’s telco e& raises stake in UK’s Vodafone to 14% UAE-based telecom firm e&, formerly Emirates Telecommunications Group Company, has increased its stake in UK’s Vodafone Group to 14 percent. The Abu Dhabi bourse-listed company purchased a 9.8 percent stake in May 2022 and last month it upped its stake in Vodafone to 13 percent. The telco maintains that the move is aimed at obtaining […] March 1, 2023
Banking & Finance London FX firm launches Dubai ops to seize Mena opportunities DKK Partners, an emerging markets foreign exchange liquidity provider, has launched operations in Dubai as part of a major expansion into the Middle East. The London-based fintech company has opened an office in Dubai and plans to follow that with three more in the region as it sees the GCC developing into a “financial hub […] February 28, 2023
Manufacturing It’s a date as UAE food firms target $35bn Indian market A food producer in Dubai has announced a joint venture to take its brand to India as experts say the market offers “growth potential” to many food exporters in the UAE. Al Barakah Dates said it will process and export over 30,000 tonnes of bulk raw material from its factory in Dubai Industrial City to […] February 28, 2023
Tech RAK launches free zone for digital and virtual asset firms The Ras Al Khaimah government has announced plans to launch RAK Digital Assets Oasis, a free zone dedicated to digital and virtual asset companies. The zone will be purpose-built for non-regulated activities in the virtual assets sector, the UAE state-run Wam news agency reported. It will be exclusively dedicated to digital and virtual assets service […] February 28, 2023
Transport Careem to cease ride-hailing operations in Qatar Uber’s Middle Eastern business Careem will cease operations in Qatar on Tuesday, the company announced in a message sent to customers in the Gulf Arab state on Monday. The surprise announcement comes two months after the World Cup in Qatar, when Careem-branded vehicles were part of the tournament’s official plans to transport visiting fans, alongside […] February 28, 2023
Tech Abu Dhabi’s AI firm to drive gains for Mercedes F1 team Abu Dhabi-based tech startup G42 and Mercedes-AMG Petronas F1 Team have signed a multi-year partnership that will harness the potential of artificial intelligence (AI). The two entities will explore ways to deploy cutting-edge artificial intelligence software and solutions into the team’s operations to deliver critical insights, Abu Dhabi Media Office said in a statement. The […] February 27, 2023
Finance $5bn of trade on the table as Abu Dhabi and Israel grow ever closer A top level delegation of 10 Abu Dhabi entities has returned from Tel Aviv as experts predict bilateral trade between the UAE and Israel could reach $5 billion by 2025. Led by the Abu Dhabi Investment Office (Adio), the delegation included Abu Dhabi Global Market, Abu Dhabi Residents Office, Hub71, Abu Dhabi IPO Fund, Masdar […] February 23, 2023
Ireland’s Middle East exports grow with ‘new’ economy The Republic of Ireland is targeting the UAE and the wider Middle East as a “major growth market”, with innovation at the heart of the economic relationship. Opportunities for closer collaboration between Irish and UAE firms have been identified in the “new” economy including AI, space, fintech and entrepreneurship. Healthcare, and medtech in particular, is […] February 22, 2023
Tech Chinese EV maker to build 1,000 battery-swap stations in 2023 Chinese electric vehicle (EV) startup Nio Inc plans to build 1,000 battery-swapping stations in China in 2023 to bring the total number of such facilities to 2,300 by year-end, its founder and chairman William Li said on Tuesday. Nio will build 400 battery-swapping stations along highways and 600 in urban areas with a focus on […] February 21, 2023
Tech Meta to test monthly subscription service priced at $11.99 Meta Platforms has announced that it is testing a monthly subscription service, called Meta Verified, which will let users verify their accounts using a government ID and get a blue badge, as it looks to help content creators grow and build communities. The subscription bundle for Instagram and Facebook, to be launched later this week, […] February 20, 2023
Exclusive Banking & Finance First Abu Dhabi Bank to launch crypto services First Abu Dhabi Bank plans to introduce cryptocurrency and digital asset offerings to its customers. The move is part of a plan by the UAE’s biggest lender to implement Web3 technologies in its services to gain competitive advantage. “We’re already working on a product paper looking at how to work with crypto and digital assets,” […] February 19, 2023
MAKE IT HAPPEN Tech Become a master of the metaverse For a time last year, all anybody seemed to be talking about was the metaverse. Some Gulf businesses said they were already planning for it, while others were trying to work out what the fuss was about. The frequently asked questions included: when will it really arrive? How much does it cost? Who’s on the […] February 17, 2023
Tech YouTube CEO Wojcicki steps down as revenue continues to decline YouTube CEO – and one of the first Google employees – Susan Wojcicki is stepping down from her role at the tech giant that started in her garage nearly 25 years ago, she said in a personal update on the video-sharing platform. Wojcicki, 54, will be replaced by her deputy Neal Mohan, a senior advertising and […] February 17, 2023
Food & Drink Saudi prince joins round for US-based alt protein startup KBW Ventures, the venture capital firm founded by Saudi Arabia’s Prince Khaled bin Alwaleed, has completed a second round of investment in Seattle-based food manufacturing technology company Rebellyous Foods. The US company, which makes plant-based chicken substitute and is led by former aerospace engineer Christie Lagally, raised $9.5 million in its latest equity round. Rebellyous […] February 16, 2023
UAE defence giant buys stake in Estonian robotics firm Technology and defence giant Edge Group has bought a majority stake in Estonia’s Milrem Robotics, a leading European developer of autonomous systems. The transaction is the largest foreign investment in Estonia’s growing defence industry and will see Milrem Robotics join Abu Dhabi-based Edge as a new entity within its platforms and systems cluster. Established in […] February 15, 2023
Opinion Tech Never underestimate the human touch Developments around AI are phenomenal but technology in the workplace is no substitute for humans February 14, 2023
