Saudi-listed Advance International Company for Communication and Information Technology (AICTEC) has entered into a memorandum of understanding (MoU) with the Chinese firm ZKTeco to establish a new factory in Saudi Arabia. Under this agreement, ZKTeco will hold a 60% stake in the joint venture, while AICTEC will retain the remaining 40%. The total capital for...
The Family Office, a prominent wealth management firm in the Gulf Cooperation Council (GCC), has unveiled its new digital tool, FinancialGoal.com, in the Dubai International Financial Centre (DIFC). This innovative platform aims to assist investors in defining and achieving their financial objectives through personalized investment strategies focused on private market opportunities. As economic conditions shift...
Dubai Holding has announced plans to launch an Initial Public Offering (IPO) for its Real Estate Investment Trust (REIT) fund. This Sharia-compliant REIT signifies a significant advancement from one of the largest players in Dubai’s real estate development and investment sector, which includes notable names like Nakheel, Meydan, and Meraas. The IPO will be issued...
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of The Executive Council, recently reviewed critical road infrastructure projects being developed by Dubai’s Roads and Transport Authority (RTA). These initiatives aim to improve traffic flow and mobility throughout the emirate, with a completion deadline set for 2027. During the...
PJT Partners has made a significant strategic move by opening a new office in Riyadh, Saudi Arabia. This expansion enhances its senior team in a region that is increasingly becoming a hub for investment banking. The Middle East is gaining importance for investment banks, driven by a rise in sovereign wealth fund activity, efforts for...
The Saudi Investment Recycling Company (SIRC), which is a wholly owned subsidiary of the Public Investment Fund (PIF), has officially signed a memorandum of understanding (MoU) with the US-based EIG Management Company, LLC. This agreement aims to foster collaboration in investment and diversify funding sources for the development and operation of infrastructure projects linked to...
UAE schools will begin teaching mandatory artificial intelligence (AI) classes to students starting at the age of four. This initiative was announced by Sheikh Mohammed bin Rashid, the Vice President and Prime Minister of the UAE, and will be implemented in government schools from the next academic year. The introduction of AI as a curriculum...
Dubai is set to welcome driverless taxis on its roads, with the first vehicles expected to arrive by the end of 2025. The emirate has ambitious plans to make 25% of all public transport journeys autonomous by 2030, aiming to enhance road safety and improve productivity. The initial phase of this project will see more...
Eligible for-profit schools in Dubai have received approval to apply for a fee increase for the upcoming academic year. The increase can be up to, but not exceeding, the approved Education Cost Index (ECI). This decision allows schools to adjust their fees in accordance with the ECI, ensuring that the changes remain within the established...
ZENDATA Cybersecurity, a prominent global provider of cybersecurity solutions, has announced a strategic partnership with Reboot Coding Institute (Reboot01), which is recognized as Bahrain’s leading coding institute. This collaboration aims to onboard and develop Bahraini cybersecurity talent for ZENDATA’s operations both in the region and globally. This partnership is part of ZENDATA’s commitment to enhancing...