Hamdan bin Mohammed, the Crown Prince of Dubai, has directed the establishment of the “Dubai PropTech Hub.” This initiative aims to enhance Dubai’s status as a global leader in real estate innovation. The Hub is designed to significantly increase the size of the PropTech market in the region. The initiative’s goal is to more than...
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan visited His Majesty King Hamad bin Isa Al Khalifa of the Kingdom of Bahrain at his residence in Abu Dhabi. The meeting took place today and emphasized the strong relationship between the UAE and Bahrain. During the discussions, both leaders, along with those present, participated...
The Abu Dhabi Investment Office (ADIO) has introduced a significant economic programme aimed at creating a complete automotive ecosystem in the region. This initiative seeks to foster innovation and investment opportunities within the automotive sector, enhancing the local industry’s capabilities. The programme is designed to support various segments of the automotive industry, including manufacturing, research...
BOLD Technologies, a subsidiary of BOLD Holding, and My Aion Inc. have announced their strategic partnership to develop the AION SENTIA Cognitive City. This next-generation AI platform is designed to manage and optimize complex urban systems effectively. The initiative is structured under a $2.5 billion Build-Operate-Transfer (BOT) model. It will utilize MAIA, My Aion Inc.’s...
Ripple has significantly enhanced its presence in the United Arab Emirates by partnering with two new entities: Zand Bank and fintech firm Mamo, both of which will utilize Ripple’s blockchain-based cross-border payments platform. This strategic move aims to facilitate faster and more cost-effective international transfers using advanced blockchain technology. According to a press release from...
Hema Energy, through its alternative energy arm X2E LLC, has initiated a trial cultivation of Camelina sativa in Oman, marking a pioneering effort in green energy and sustainable agriculture in the region. This initiative is a collaboration with ARA Petroleum LLC and represents a significant step forward in the company’s commitment to climate-smart solutions. Azzan...
Saudi Arabia is experiencing a significant digital transformation in its internet sector, according to a new report from the Communications, Space and Technology Commission (CST). The report reveals that 21.5 percent of internet users in the Kingdom actively utilize various artificial intelligence (AI) applications. Among these users, the age group of 20 to 29 years...
EDGE, recognized as one of the leading advanced technology and defense groups globally, has unveiled its Group AI Accelerator. This new Centre of Excellence (COE) aims to speed up the development and integration of innovative artificial intelligence (AI) projects within EDGE Group’s facilities and its advanced portfolio of disruptive solutions. The Group AI Accelerator will...
Global investment giant International Finance Corporation (IFC), part of the World Bank, has invested $12 million in Play Ventures Inc., a leading company in immersive media. This funding is part of Play Ventures’ pre-series C round, aimed at enhancing its capabilities in the rapidly growing immersive media sector. Play Ventures Inc. is incorporated in South...
Abu Dhabi has announced a significant initiative to provide free treatment for patients with chronic illnesses through a Dh1 billion Healthcare Endowment Initiative. This announcement was made on Monday and aims to support individuals suffering from chronic diseases, enhancing the sustainability of healthcare services in the emirate. The initiative, named the Life Endowment Campaign, is...