Transport Abu Dhabi signs up 3 more smart vehicle companies By Pramod Kumar October 19, 2023, 12:39 PM Unsplash.com/Andrew Roberts Abu Dhabi is developing a multi-modal cluster to accelerate the deployment of smart and autonomous vehicles across air, land and sea Masdar City’s smart and autonomous vehicles industry (SAVI) cluster has signed up three more companies, it was announced at Gitex Global this week. Abu Dhabi earlier this month unveiled plans to establish Savi, which aims to add up to AED120 billion ($33 billion) to the country’s economy. Abu Dhabi Investment Office (ADIO), an investment arm of the Abu Dhabi government, and NWTN, a UAE-based smart vehicle company, signed a memorandum of understanding (MoU) which allows the latter to benefit from the testing facility set up at Yas Island. Silicon Valley-based autonomous driving company Pony.ai has also signed a deal with ADIO to use the Yas Island testing facilities. As of October 2023, Pony.ai has completed over 25 million km of autonomous driving mileage across diverse geographies. ADIO also signed an agreement with Star Charge, a China-based EV charging company looking to expand its global operations by setting up its regional headquarters in the SAVI cluster. Claire Wang, Star Charge, GCC country manager, said the partnership with ADIO will catalyse the growth of EV adoption and the transition to cleaner, smarter new energy ecosystem in the region. Abu Dhabi is developing a multi-modal cluster to accelerate the deployment of smart and autonomous vehicles across air, land and sea. Savi will enable access to funding and investments, streamline regulatory services, and fast-track future mobility solutions.
Mining Ma’aden signs $1bn contracts to develop industrial cities Saudi mineral giant Ma’aden has signed three contracts worth a combined $922 million with foreign companies to develop a third phosphate fertiliser project. The majority state-owned Saudi mining company announced the agreements in a note to the Saudi bourse on Thursday, coinciding with the final day of the Future Minerals Forum in Riyadh. Ma’aden is […] 4 hours ago
Tax $660m a year ‘sin tax’ target set by Kuwait Kuwait hopes to raise 200 million dinars ($660 million) a year through a “sin tax” on unhealthy products as part of tax reforms proposed by the International Monetary Fund, the country’s finance minister said on Wednesday. Noora Al-Fassam told the official Kuwaiti news agency that her ministry was working on a new law for a […] 3 hours ago
Construction Dubai Multi Commodities Centre announces “Crypto Tower” Dubai Multi Commodities Centre (DMCC) and software company Reit Development have announced plans to build a 17-storey “Crypto Tower” that they say will demonstrate the use of blockchain technology. Blockchain will be used for tenant interactions and transactions through the use of on-chain voting mechanisms, shared resources, smart contracts and other automated services. The 150,000 sq […] 1 hour ago
Mining Saudi development fund might invest $100m in Pakistan mining Saudi Arabia might invest more than $100 million in Pakistan’s mining infrastructure through its development fund to scale up operations to meet demand. Minister of industry and mineral resources Bandar Alkhorayef also confirmed that mining company Manara Minerals, a joint venture between Saudi sovereign wealth fund the Public Investment Fund and miner Ma’aden, is interested in investing […] 14 mins ago
