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Robotics

Supercomputers operate at a much higher level of performance compared to a general-purpose computer

Rise of the supercomputers: Gulf invests its oil profits in big tech

Abu Dhabi Investment Authority, the world’s third-largest sovereign wealth fund, has revealed plans to launch ADIA Lab, a centre dedicated to cutting-edge research in data science, artificial intelligence, machine learning and quantum computing.  From its base in the UAE capital, ADIA Lab will start work on December 2, supporting projects on climate change and energy […]

Estonia’s exports to UAE double after Expo 2020 Dubai

Estonia’s participation in Expo 2020 Dubai helped the European country’s exports of goods and services to the UAE increase by more than 100 percent in the past year. The value of Estonian goods exported to the UAE was up 126 percent year-on-year to €80.8 million ($80.57 million) in the eight months from January to August […]

Flying car takes to the skies – and that’s just day one of Gitex

A flying car made its first public test flight in Dubai Marina on Monday evening.  The two-seater VTOL (vertical take-off and landing) electric vehicle was built by Chinese manufacturer Xpeng and was one of the star attractions on day one of Gitex Global, the annual technology exhibition that runs until Friday in Dubai.  The X2 […]

Cloud seeing drones UAE

UAE backs use of robotic planes to charge fog clouds in arid areas

The UAE is continuing its support for scientific experiments involving robotic, unmanned aircraft releasing electric charges into fog clouds, in a bid to encourage more rainfall in the skies above the emirates. Real-world ‘cloud seeding’ experiments conducted by the UK’s University of Reading, and supported by the UAE’s National Centre for Meteorology, confirmed that releasing […]

US robotics specialist Gecko to set up shop in UAE

Gecko Robotics, a US firm that makes wall-climbing robots to inspect oil, gas and power infrastructure, is setting up an international HQ in the UAE. The move, announced today, is part of the UAE Ministry of Economy’s NextGen FDI programme, which aims to attract 300 digital companies over the next year. “Our industrial base is […]

Islamic finance set to embrace metaverse and cryptos

The Islamic finance industry is ripe for growth in the fields of crypto, digital assets and open banking, according to new research published by IslamicMarkets.com. A study published this week by the platform found that nearly two-thirds (63 percent) of Islamic finance professionals predict the sector’s level of adoption of crypto and digital assets will […]

Sheikh Hamdan said the program will provide 200,000 robots over the next 10 years to increase efficiency and productivity

Dubai aims to create $9.5bn robotics industry

Dubai today launched an initiative to turn robotics and automation into a $9.5 billion sector. Under the plan announced by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, the use of robotics and automation (R&A) will be accelerated in key economic sectors in a bid to increase the sector’s contribution to […]

There are tentative signs of recovery but inflation is still hampering the economy

Chink of light shines on Lebanon’s economic gloom

For nearly three years Lebanon’s economic meltdown has sunk the currency by more than 90 percent, spread poverty, paralysed the financial system and frozen depositors out of their savings. But new research released today suggests tentative signs of an improvement in private sector operating conditions. The August Blom Lebanon purchasing managers’ index (PMI) posted fractionally […]

Emaar shares rise on plan to scrap limit on foreign ownership

Emaar Properties, the developer behind the Dubai Mall and Burj Khalifa, saw its shares soar in early trading on Thursday after its announced plans to consider removing a limit on foreign ownership. The developer’s shares rose 4.7 percent to AED6.25 ($1.70), its highest level since early May. Foreigners invest $4.2bn in UAE stocks since start […]

GCC investors unfazed by UK real estate crackdown

A crackdown on anonymous foreign investments in UK real estate will not put off GCC buyers and may even increase deals in the long term, experts say. The Register of Overseas Entities will require anonymous foreign companies owning or seeking to buy UK land to reveal their true owners, ensuring criminals cannot hide behind secretive […]

Ethical fashion: it’s so right now, but it’s granny chic too

Sustainable fashion is a buzzword that’s becoming a sound business proposition, particularly for MENA manufacturers returning to the thrifty practices of their grandparents The QR code on the clothing label takes you to a field where the cotton is grown. Shoppers can swipe to see the cotton being picked by hand and gathered into fluffy […]

World’s richest families are shifting investments to Gulf

Qatar’s World Cup, Saudi’s Vision 2030 and UAE’s dynamism are all helping attract wealthy family investors to the region, says UBS Investments in the Middle East by ultra-high-net-worth family offices will increase by at least 50 percent over the next decade, a senior executive at the Swiss global wealth manager UBS told AGBI. Family offices, […]

UK Islamic fintech wants to take on the world

UK fintech has enjoyed meteoric growth in recent years, and Islamic fintech has been a key part of that success. AGBI speaks to industry experts to get the inside track on the sector’s development  UK fintech investment hit $37.3 billion in 2021, up sevenfold from $5.2 billion in 2020, according to figures published by global […]

Expo 2020 Dubai site

Dubai unveils plan to transform Expo 2020 site into free zone

The Expo 2020 Dubai site is to be transformed into the emirate’s newest business free zone – and is being lined up as a possible venue for more of the world’s biggest events, executives have told AGBI. Sheikh Mohammed bin Rashid Al Maktoum, the vice president and prime minister of the UAE and the ruler […]

Person, Human, Helmet

11 ways robots are transforming the UAE

A new AED1 billion ($272 million) library, which  opened in Dubai on Thursday, will employ artificial intelligence (AI) in its operations, including in choosing titles and borrowing and returning books. The Mohammed bin Rashid Library will use a first-of-its-kind smart system in the Middle East to send commands to robots to locate books and deliver […]

A biobank is a type of biorepository that stores biological samples, usually human), for use in research

UAE to open first robotic biobank in 2023

Al Jalila Foundation, a member of the Mohammed Bin Rashid Al Maktoum Global Initiatives, will establish the UAE’s first robotic biobank, in partnership with the Mohammed Bin Rashid University of Medicine and Health Sciences (MBRU) and the Dubai Health Authority (DHA).  The collaboration will advance medical research in the areas of genetic disorders, cancer and […]

Clothing, Apparel, Person

Age is just a number – and that number is $33trn

As companies join the global race to prolong life, the Gulf is positioned to lead the way in preventative medicine “Live long and prosper” may be a quote from science fiction, made famous by a Star Trek movie in 1979, but its sentiment is driving real growth in today’s global scientific economy. The global longevity […]