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Artificial intelligence

Dubai AI film

Dubai embraces AI to disrupt the film sector

Are robot writers and CGI actors about to steal our jobs? That’s one of the core fears at the centre of Hollywood’s largest strike by actors and writers in over 60 years. From ChatGPT generating scripts and AI-generated actors replacing extras in crowd scenes, to computers automatically editing scenes and creating stunning visual effects (VFX) […]

AI chips

Race is on for AI chips as nations seek tech supremacy

The Gulf states are expected to invest heavily in powerful semiconductor chips in the years ahead in order to drive artificial intelligence forward. AI technology is critical to developing global influence, and the high-performance chips – known as graphics processing units (GPUs) – process vast amounts of data much faster than traditional computer components. The […]

Intersect innovation hub palestine startups

Innovation hub helps launch Palestinian startups in Gulf

Startups in Palestine are increasingly expanding in the Gulf as a way of overcoming hurdles such as a lack of access to funding and support systems. Central to their strategy is the Intersect Innovation Hub, a business incubator that is helping to build bridges between Palestinian startups and the Gulf region. Rateb Rabi, CEO of […]

Jane Fonda strike

Hollywood strikes a blow to Mena film industry

When it came to creating the epic sunset scenes for the upcoming Dune movie sequel, director Denis Villeneuve chose the sand dunes of Jordan and Abu Dhabi to stand in for the futuristic desert planet of Arrakis.  Local fans sitting down to watch the movie this November should relish the occasion, as it may be […]

UAE PC sales

Sales slump ‘does not signal end’ for PCs in UAE

The ongoing decline in PC sales in the UAE reflects a worldwide trend of decreasing shipments of desktop computers, say analysts. Global shipments of PCs shrunk by 16.6 percent year on year to 59.7 million in the second quarter of this year. It marked the seventh consecutive global quarterly decline. Local UAE industry experts say […]

AI training supercomputer

US and UAE supercomputer venture advances AI training

US artificial intelligence tech firm Cerebras signed a $100 million deal with UAE tech holding company G42 on Thursday to supply the first of three AI supercomputers. A planned network of nine interconnected supercomputers, Condor Galaxy (GC) will be the largest of its kind in the world, and will significantly reduce AI model training time. […]

Investors turn to data centres in Gulf and Mena tech push

Investor appetite for data centres in the Middle East is soaring as the region, particularly the Gulf, accelerates its digital transformation. Experts say they are seeing increased levels of investment and interest from international operators, who are looking to capitalise on the region’s growing need for data processing and storage. US-based asset manager DigitalBridge Group […]

Traders at Qatar Stock Exchange. Gulf IPOs fell in the first quarter, but more listings are expected in Qatar and Oman

Middle East IPO drive likely to cool in second half of 2023

The wave of listings on Middle East markets will slow down as the year progresses, with initial public offerings being pushed to 2024 instead, say industry experts. Last year 71 IPOs were completed in the Middle East, for a combined transaction value of more than $25 billion, according to S&P Global Market Intelligence. That compares […]

Saudi fashion

Saudi fashion has designs on the international stage

Saudi Arabia has long been a major draw for the world’s fashion houses. Princesses devoted to haute couture, fashionistas with expensive tastes, and plenty of young people make for a winning combination.  The value of luxury fashion purchases in the GCC hit $9.6 billion in 2021, and Saudi Arabia accounted for more than $7 billion […]

ADX up Adnoc IPOS

IPOs boost Abu Dhabi’s bourse despite stock sell-off

The market capitalisation of the Abu Dhabi Securities Exchange rose by $43.7 billion in the first half of 2023. The listings of two Abu Dhabi National Oil Company (Adnoc) subsidiaries more than offset a sustained decline on the bourse’s index and a slump in stock trading. Since late 2021, a flurry of initial public offerings […]

UAE stock market

UAE stock markets surge $60bn in value in H1 2023

The market value of UAE stock exchanges rose by AED220 billion ($59.89 billion) in the first six months of 2023 to AED3.43 trillion, boosted by higher demand from foreign investors and new listings. Four new listings boosted the market value of the Abu Dhabi Securities Exchange (ADX) and the Dubai Financial Market (DFM), the UAE […]

Hajj Mecca

How tech is transforming Saudi’s Hajj travel industry

Saudi Arabia’s strong digital infrastructure means it is ready to receive “whatever number of pilgrims and Umrah performers”, according to its director general of passports Sulaiman al-Yahya. Two million people are expected to converge on Mecca in the next week to complete the Hajj pilgrimage. By 2030 the kingdom is committed to tripling this number […]

Omar Sultan Al Olama Video length: 03:02

$2bn funding behind Dubai’s digital startup economy

Dubai tech startups have raised $2 billion and completed six mega-rounds valued at over $300 million in 2022, according to a report by the Dubai Digital Economy. These included two listings for scaleups (startups that have raised over $1 million in capital) on stock exchanges.  The UAE’s national digital economy is predicted to grow to […]

Tech executives

Skills shortage pushes up Gulf tech leaders’ salaries

Technology chiefs working in the Gulf are typically earning $528,000, according to a new survey, as leadership talent remains “scarce” in the region. That figure is the median salary calculated by the first annual Middle East Technology Officers Compensation Survey from US advisory firm Heidrick & Struggles. The report said strong GDP growth in the […]

India AMD

QIA to hire ex-Credit Suisse to support investment team

Qatar Investment Authority (QIA), the Gulf nation’s $450 billion sovereign fund, is likely to hire Hussam Qasim from Credit Suisse Group AG to boost its domestic investment team. Qasim will join in the coming months, Bloomberg reported citing informed sources. He was previously a director for investment banking and capital markets for Credit Suisse in […]

G42 tech skills

Abu Dhabi’s G42 signs deal to improve UAE tech skills

Abu Dhabi’s artificial intelligence company G42 has set up a joint venture with Israel’s Viola Group to address skills shortages in the tech sector. The venture will be known as Global Valley. A study by Korn Ferry estimated that by 2030 there will be a global talent deficit of approximately 85 million employees in the […]

QIA Asia

QIA sovereign fund eager to invest in Asia and US

Qatar Investment Authority, the world’s 10th-largest sovereign wealth fund by assets, will expand its portfolio in the United States and Asia – particularly China and India – and aims to take advantage of more “investor-friendly” deal terms. Several senior QIA executives outlined the fund’s plans to Bloomberg this week in what were rare public comments […]

AI regulations UAE

UAE to play ‘central role’ in AI but needs greater regulation

The founder of ChatGPT has praised the UAE for being ahead of the curve on the development of artificial intelligence (AI) – as a top Emirati lawyer called for greater regulation of the new technology sector. In a visit to Abu Dhabi on Tuesday Sam Altman said that the UAE had been discussing AI “before […]

A trader monitors stocks at the Saudi stock market in Riyadh. Saudi banking stocks are slumping despite steady earnings

Saudi execs’ sentiment soars despite Q1 earnings slump

Sentiment among senior executives at listed Saudi Arabian corporations hit an all-time high in the first quarter of 2023 despite aggregate profits tumbling by more than one-fifth, studies show. Iridium Advisors, which is headquartered in Dubai, conducted an artificial intelligence-based analysis of 1,495 Q1 2023 company earnings calls across the GCC. Business sentiment is how […]