Analysis Tech Reality still beats deepfake technology … for now Technology experts are confident that artificial intelligence-generated deepfakes will not dominate or replace human talent. “It sounds tremendously fake, even when it sounds ‘real’,” Ahmad Haffar, the voice behind Dubai Metro and managing partner at Mindloop Studios, told AGBI. Deepfakes are manipulated videos, images or audio recordings created using AI. They are increasingly commonplace in […] January 7, 2024
Banking & Finance Angel investor Natalia Vodianova opts for GCC Russian supermodel and angel investor Natalia Vodianova, nicknamed “Supernova”, is eyeing further investments in the GCC through her Paris-registered company, after backing the UAE café chain Angel Cakes this month. In an interview with AGBI, Vodianova said she and business partner Timon Afinsky, a London-based digital media professional with whom she runs the investment vehicle […] January 5, 2024
Media & Advertising Coming to a movie theatre near you … AlUla It would make the perfect setting for Star Wars or Indiana Jones, but AlUla is developing production facilities that will expand its reach beyond sci-fi and desert adventure movies, making it one of the region’s prime locations for international shoots. The tourist location in northwest Saudi Arabia is fast developing into a mini-city with an […] December 24, 2023
People & Lifestyle Saudi art blooms with the kingdom’s transformation The arts have undergone profound changes in Saudi Arabia over the past decade as the country has enacted wide-ranging reforms, according to a leading Saudi artist. Once silenced by religious forces and a conservative culture, female artists in particular have come to the fore through a raft of government and private sector initiatives to encourage […] December 18, 2023
Exclusive Construction Aldar ‘confident’ of doubling market cap within five years Abu Dhabi developer Aldar Properties is ramping up an international expansion drive that, alongside plans to grow its UAE portfolio, will help to double its market cap, its group chief executive said. Aldar’s market cap is currently $12 billion, and group CEO Tilal Al Dhiyebi foresees “doubling that in five years,” he told AGBI in […] December 18, 2023
Sustainability Why the UAE is focusing on mangrove conservation A crab scuttles across the mud, side-stepping exposed mangrove roots until it dips into a hole, as a western reef heron perches between sprouting seedlings. Another comes along and the scene is repeated across Abu Dhabi’s Jubail Mangrove National Park, where people are meandering along a 2km boardwalk on a December morning. An hour away, […] December 15, 2023
Analysis Banking & Finance New certification to swell sharia-compliant funds A London-based fund manager hopes a pioneering Islamic finance certification can boost sharia-compliant equity investments worldwide and help ensure Muslim clients’ wealth is deployed to meet both their religious ideals and benefit society. Most sharia-compliant equity funds focus on excluding haram industries such as alcohol, tobacco, weapons, pork and gambling. Yet such a methodology has […] December 12, 2023
Analysis Construction Project overruns remain but payment issues improving Delays in construction project timelines and payments remain a concern in the Gulf. However, things seem to be on the up on the payment side at least, multiple industry professionals said during the Big 5 Global conference in Dubai this week. The larger Middle East region suffers from some of the worst project overruns in […] December 7, 2023
Video length: 06:23 EXCLUSIVE Renewable Energy Nuclear ‘arrives too late’ to halt climate emergency Nuclear energy will not help the world meet its urgent target to limit global warming, according to the head of the International Renewable Energy Agency. Francesco La Camera, director-general of Abu Dhabi-based Irena, told AGBI the significance of nuclear power in fighting climate change had been overstated. “Nuclear does not serve the climate change agenda […] December 7, 2023
Sustainability Carbon capture and storage not a ‘miracle’ climate cure A new study has strongly criticised fossil fuel-producing states for incorporating carbon capture and storage (CCS) in their climate strategies, claiming the technology is being used to extend the shelf life of oil companies rather than as a climate action tool. As Cop28 kicked off in Dubai, analysis by US-based non-profit environmentalist organisation Oil Change […] December 2, 2023
Exclusive Tech The Dubai startup with smart contact lenses in its sights In 1508, Leonardo Da Vinci sketched the concept of contact lenses in his Codex of the Eye, laying the groundwork for enhancing human sight. Fast forward a few centuries, and this early idea has evolved dramatically. Today’s contact lenses are on the brink of another step forward. New technology goes beyond correcting vision to display […] December 2, 2023
EXCLUSIVE Sustainability Opec Fund piles up financing for wheat, wind and water The Opec Fund for International Development is on track to meet its pledges to increase grants and loans to climate-related projects, its Middle East and North Africa head has told AGBI. Musab Alomar, the fund’s director of public sector operations for Mena, said climate financing made up 33 percent of all Opec Fund approvals in […] November 30, 2023
INTERVIEW Real Estate UAE buyers help ex-England footballer hit property goals The former Manchester United and England footballer Gary Neville has revealed that one in five properties in his luxury residential development have been snapped up by UAE investors. Neville, a Champions League-winning defender turned entrepreneur, visited the Emirates this week to gauge Middle Eastern interest in his £400 million ($501 million) hotel and apartment project […] November 26, 2023
Analysis Trade Raiven launches fund to strengthen UAE-Canada ties Raiven Capital, a venture capital company based in Toronto, has launched a new $125 million fund in Dubai with a focus on tech-based founders. The fund, set up in Dubai International Financial Centre (DIFC), will invest in entrepreneurs developing artificial intelligence to disrupt sectors including fintech and cybersecurity. “Raiven has ambitious plans for the region […] November 23, 2023
Trade UK-GCC free trade deal is still best bet, says minister Britain’s investment minister has told AGBI he still supports a free trade agreement between the UK and the GCC, despite the protracted negotiations and calls for Gulf states to strike bilateral deals instead. Speaking on the sidelines of the Arab British Economic Summit in London on Monday, Dominic Johnson, a minister of state in the […] November 22, 2023
EXCLUSIVE Aviation DXB to grow to ‘absolute maximum’ ahead of airlines’ move Dubai International Airport is to be expanded “to its absolute maximum” in the next few years, its operator has told AGBI, so there is time to prepare the city’s second airport for the arrival of Emirates’ and Flydubai’s entire fleets. Dubai Airports’ CEO, Paul Griffiths, added that the development plans for Al Maktoum International (DWC) […] November 15, 2023
DUBAI AIRSHOW Aviation Riyadh Air positions Saudi as major player in Gulf aviation Gulf airlines are bracing for an escalating challenge from Saudi Arabia’s new global carrier Riyadh Air, which is scheduled for take-off in 2025. The highly hyped airline, whose launch was first revealed by the kingdom in March, is targeting 100 destinations in its first five years. This is a scale of ambition likely to reshape […] November 12, 2023
Video length: 04:43 Video Masdar City exec: Let’s talk about greenwashing Greenwashing – a deceitful marketing gimmick where companies exaggerate their environmental actions – is “egregious” as it takes advantage of a movement that affects everyone on earth, according to Bill Weir, CNN’s chief climate correspondent. A recent global survey conducted by US-based The Harris Poll and sponsored by Google Cloud found that six out of […] November 8, 2023
People & Lifestyle The Gulf has a rich musical heritage – it needs an audience When the Saudi National Orchestra made its New York debut in September, a centrepiece of the 80-member ensemble was a large green oil barrel. While serving as a wry reference to the US-Saudi special relationship, it also made a serviceable drum. For an evening, the pounding rhythms of majrour, samri and liwa brought the traditional […] November 5, 2023
Video length: 05:38 VIDEO Banking & Finance Standard Chartered chief aims for ‘100 years’ in Egypt As Standard Chartered plans its expansion into Egypt, the company’s regional CEO warns that the region “is not immune” to global economic turmoil. “If there is going to be a steep recession in the US and Europe, then the impact will be felt here,” said Sunil Kaushal, CEO of Standard Chartered Africa and Middle East, […] October 31, 2023
EXCLUSIVE Trade Scotland to forge GCC trade links independently of UK Scotland will continue to build relations throughout the region even after a long-awaited trade deal between the UK and the GCC is signed, according to a government minister. Neil Gray, Scotland’s cabinet secretary for wellbeing economy, fair work and energy, signed a memorandum of understanding in the UAE last week with Dr Thani bin Ahmed […] October 30, 2023
EXCLUSIVE Renewable Energy Abu Dhabi plans hydrogen carbon certification framework Abu Dhabi plans to roll out a carbon certification framework for the hydrogen industry next year in a bid to become a leader in developing the clean fuel. The emirate plans to apply the framework to both its production and use of hydrogen, Carlos Gasco Travesedo, energy policy adviser and executive director at Abu Dhabi […] October 30, 2023
