Tech QIA alert to Trump’s tech push The Qatar Investment Authority (QIA) is open to exploring further technology investment opportunities, as it expects a sharp increase in US tech deals under the Trump administration. The presence of Elon Musk, Mark Zuckerberg and Jeff Bezos at President Donald Trump’s inauguration suggests his government will be supportive of the tech industry, Mohammed Al Hardan, the head of technology, media […] January 23, 2025
Energy Abu Dhabi’s Phoenix Group signs Ethiopian power deal Abu Dhabi-based technology conglomerate Phoenix Group has acquired an 80 megawatt (MW) power purchase agreement (PPA) in Ethiopia. It follows just weeks after the company launched a 50MW cryptocurrency mining facility in North Dakota in the US. A PPA is usually a long-term electricity supply agreement. The deal, secured in partnership with UAE cybersecurity company […] January 22, 2025
Tech Elm buys PIF’s technology unit for $907m Saudi Arabia’s Elm Company has agreed to buy Thiqah Business Service Company, a wholly owned unit of the Public Investment Fund (PIF), for SAR3.4 billion ($906 million). Elm says the buyout will support its growth in the digital services space, localise technology and drive innovation. The completion of the acquisition will be subject to obtaining regulatory […] January 22, 2025
Artificial Intelligence Gulf has a strong hand in Trump’s $500bn AI project Two of the three tech giants that will spend billions of dollars building US artificial intelligence infrastructure in a partnership announced by President Donald Trump have been the recipients of significant Gulf investment. Japan’s SoftBank and US companies OpenAI and Oracle have committed $500 billion over four years to Stargate, an entity tasked with building […] January 22, 2025
Artificial Intelligence Mubadala seeks to balance AI risks and rewards Artificial intelligence “presents a significant amount of risk” but also “a lot of opportunity”, the head of one of Abu Dhabi’s largest sovereign wealth funds said this week. On Tuesday the emirate launched a new digital strategy that aims to invest AED13 billion ($3.54 billion) over the next two years. “In terms of the risks […] January 21, 2025
Telecoms Adia-backed EdgePoint to build 5,000 towers Southeast Asian mobile phone tower company EdgePoint Infrastructure plans to add at least 5,000 towers in the next two to three years. The Singapore-based company, backed by the Abu Dhabi Investment Authority (Adia), is planning to expand in Indonesia, Malaysia and the Philippines, where it already has a presence, and enter new markets such as […] January 21, 2025
Tech Tech and crypto make a mark as Trump takes charge Donald Trump’s inauguration on Monday as the 47th President of the United States was an overt display of the evolving ties between technology, politics and finance. The presence of tech industry titans and the cryptocurrency market’s dramatic response highlighted the strong relationship between Trump’s administration and the tech world, with potential long-term impacts for Gulf […] January 21, 2025
Banking & Finance Dubai Islamic Bank ups stake in Turkey’s TOM Group Dubai Islamic Bank (DIB) has increased its stake in Istanbul-based TOM Group from 20 percent to 25 percent to seize the opportunity in Turkey’s rapidly expanding digital infrastructure. The Dubai-listed Shariah-compliant bank, which ventured into Turkey’s digital banking and financial technology arena in October 2023, was allowed to increase shareholding within 12 months. TOM Group, established by […] January 20, 2025
Tech KKR signs a $5bn Gulf data centre deal in Dubai KKR, the American investment giant, and the data centre platform Gulf Data Hub (GDH), based in Dubai, have signed a strategic partnership to invest $5 billion in data centres serving the Gulf. A joint press release on Friday said that funds “affiliated with KKR” will also acquire a stake in GDH, although it did not […] January 17, 2025
Analysis Tech How the UAE can make its push into space pay off Two years ago, the UAE’s Rashid Rover crashed into the moon’s Atlas crater during an attempted landing, marking an abrupt end to the country’s first mission to the moon’s surface. Now, back on Earth, the UAE is once again seeking to stake its claim as part of an elite club of countries with business to […] January 17, 2025
Opinion Finance Trump would do well to look to UAE for crypto guidance Incoming US policy will boost blockchain innovation and, in turn, cryptocurrencies January 16, 2025
Analysis Health Saudi Arabia’s biotech push fuels specialised consulting demand Saudi Arabia’s push to become a regional biotechnology hub is fuelling demand for specialised consulting services, as it navigates the challenges of building a life sciences sector from scratch. The kingdom is keen to develop a biotech sector to tackle the high local prevalence of diseases such as diabetes and to exploit commercial opportunities to […] January 16, 2025
Artificial Intelligence Saudi networking platform Halo AI secures $6m funding Saudi networking platform Halo AI has secured $6 million in seed funding to expand globally in a funding round led by Raed Ventures and Shorooq Partners, highlighting the Gulf region’s enthusiasm for artificial intelligence. Halo AI seeks to connect content creators and brands using highly autonomous or “agentic” AI technology developed by tech leaders such […] January 16, 2025
Transport Masdar City starts testing autonomous vehicles Abu Dhabi’s Masdar City has officially started testing autonomous vehicles to promote sustainable urban transportation. The first vehicle undergoing testing is a shuttle-style electric vehicle equipped with advanced sensors, electronic components and upgraded software, which enables it to navigate obstacles, detect other vehicles, and drive independently. The trials begin a series of tests featuring vehicles […] January 16, 2025
Tech Oman starts work on first space economic zone Oman has started construction of Zone 88, the Sultanate’s first scientific and economic zone committed to space industries and advanced technologies. The project is being developed at the Special Economic Zone in Duqm and is 25 percent complete, Bahiya Al Shuaibi, founder and CEO of Global Space and Technology Company, told Duqm Economist magazine. The […] January 16, 2025
Analysis Banking & Finance Gulf sets ambitious targets in its quest to go cashless The Middle East has set ambitious targets in its bid to become a cashless society. The UAE is aiming for 75 percent of transactions to be cashless by 2026 and Saudi Arabia has set a target of 70 percent by 2030. Late last year, the process was made simpler by the introduction of Tap to […] January 16, 2025
Tech UAE space company launches earth-monitoring craft Space42, a space technology company that has its headquarters in Abu Dhabi, deployed the second phase of its Foresight satellite constellation on Tuesday as the UAE continues its push to compete with the world’s leaders in the industry. The project is in collaboration with ICEYE, a provider of high-resolution images of the earth’s surface. The […] January 15, 2025
Tech Abu Dhabi seeks bidders for unified data centre project Abu Dhabi has issued a request for qualifications (RFQ) to develop a unified data centre, a critical part of its plan to consolidate digital infrastructure across more than 40 government entities in the UAE capital. A unified data centre is a centralised facility that securely stores and manages data and applications, serving as the backbone […] January 15, 2025
Analysis Artificial Intelligence Tighter US chip rules offer challenges and opportunities Despite fierce industry opposition, the White House on Monday further tightened the government’s grip on exports from the US of advanced semiconductors outside of fewer than 20 partner countries, none of them in the Middle East. However, some industry experts say, it is not all bad news for Gulf states such as the UAE and […] January 14, 2025
Manufacturing Lenovo completes $2bn deal to open Saudi PC factory The Chinese computer maker Lenovo Group will open a PC manufacturing facility next year in Saudi Arabia after the completion of a $2 billion investment deal with Alat, a Public Investment Fund-backed manufacturing company. The agreement means the company, which has headquarters in Hong Kong, will establish its Middle East and Africa HQ in Riyadh. The deal, […] January 10, 2025
Analysis Entrepreneurs Pace of patent filings shows a leap in GCC innovation Patent applications filed by residents of Saudi Arabia have more than doubled in the past eight years, from 3,213 in 2016 – when Crown Prince Mohammed Bin Salman launched his Vision 2030 programme – to 6,510 in 2023. Saudi filers submitted 86.3 patent applications per million inhabitants last year, up from 39.4 in 2016. However, […] January 10, 2025
Tech US PC makers bank on AI to regain Gulf market share US technology majors Dell and HP have launched a range of PCs featuring artificial intelligence capabilities. Industry analysts believe this may help them regain lost market share in the Gulf region and reverse the decline in demand for PCs. Global PC shipments, including in Europe, the Middle East and Africa, dropped 14.6 percent in the […] January 9, 2025
