Inception, a technology firm, has unveiled SHERKALA, a Large Language Model designed specifically for the Kazakh language. This model was developed in partnership with the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) and Cerebras, and it has undergone extensive evaluation against human-curated benchmarks that focus on Kazakh culture, geography, and history to ensure high...
The Fathers’ Endowment campaign in the UAE has successfully raised an impressive Dh3.304 billion in donations since its launch. This initiative, which started during Ramadan to honor fathers, aims to create a sustainable endowment fund specifically dedicated to providing healthcare and treatment for those in need. Since its inception, the campaign has garnered support from...
The Sharjah Economic Development Department (SEDD) recently welcomed a delegation from Sharjah Police Headquarters. The purpose of this meeting was to enhance cooperation and exchange expertise between the two parties to better support the business sector, investors, and stakeholders in achieving sustainable economic development across various sectors in the emirate. During the meeting, several key...
Aramco Ventures, the investment arm of Saudi Aramco, has participated in a funding round for Ucaneo, a German startup focused on developing the country’s largest direct air capture facility. This investment follows Ucaneo’s successful seed round of €6.75 million ($7.3 million) in September 2024, although the specific amount of Aramco Ventures’ investment has not been...
Dubai is set to undergo significant traffic improvements with the introduction of 34 major projects aimed at enhancing transportation across the emirate. The Roads and Transport Authority (RTA) is implementing a wide range of solutions that include upgrades to land, water, air, and even underground transport systems. These initiatives are designed to address the growing...
Meraas, a subsidiary of Dubai Holding Real Estate, has awarded a contract exceeding AED 2 billion to Arabian Construction Company. This contract is for the development of the Design Quarter, located within the Dubai Design District (d3), a hub for global creativity and design. The Design Quarter will introduce the first residential community in d3...
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, who serves as the First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, recently met with the Chairman of LGT Group, H.S.H. Prince Max von und zu Liechtenstein. The meeting focused on enhancing collaboration between Dubai and LGT Group, a global leader...
EFG Hermes, a company under EFG Holding and recognized as the leading investment bank in the Middle East and North Africa (MENA), announced that its investment banking division has successfully completed its advisory role for the $163 million initial public offering (IPO) of Alpha Data. This company is one of the prominent digital transformation providers...
A recent report from an international think tank suggests that the extensive testing of autonomous vehicle technology in the UAE could lead to a reduction in traffic congestion, potentially by 60 percent. This initiative, supported by both government and private sector efforts, is aimed at advancing smart mobility solutions in the country. Arthur D. Little,...
Access to funding continues to be a significant challenge for women entrepreneurs in the UAE, as highlighted by a recent study. According to Visa’s Women SMB Digitalization Index, over half (57 per cent) of women-owned businesses in the UAE rely on personal finances to operate, while 43 per cent turn to family and friends for...