Sharjah Media City, also known as Shams, has recently awarded a design contract for its forthcoming media production hub, Shams Studios. The design work will be carried out by STUDIOI, a UAE-based engineering firm recognized for its previous projects, including The Park Hyatt Hotel in Riyadh and SHA Island near Al-Jurf, Abu Dhabi. Rashid Abdullah...
Transguard Group has announced a strategic partnership with the DIFC Innovation Hub to enhance innovation in smart building solutions. This collaboration aims to redefine the future of intelligent infrastructure in the UAE by leveraging cutting-edge technologies that will improve efficiency, sustainability, and security within the built environment. The DIFC Innovation Hub serves as a vibrant...
Dubai-based venture builder Disrupt.com has announced a fund of US$100 million aimed at supporting technology startups that focus on artificial intelligence globally. This initiative is designed to foster early-stage ventures across various sectors, including AI, cybersecurity, Web 3.0, automotive technology, and retail innovation. Founded by Aaqib Gadit, Uzair Gadit, and Umair Gadit, Disrupt.com is specifically...
Hubpay, a cross-border payments platform, has partnered with Aquanow to launch the UAE’s first fully regulated crypto payments facility designed specifically for businesses and SMEs. This innovative collaboration enables various sectors, including real estate, manufacturing, and general trading, to accept cryptocurrency payments securely alongside traditional fiat transactions. Aquanow ME FZE is regulated by Dubai’s Virtual...
Merger and acquisition activities in the Middle East and North Africa (MENA) saw a 7% increase in 2024, reaching a total deal value of $92.3 billion, largely fueled by the contributions of Saudi Arabia and the UAE. According to a report by professional services network EY, the region recorded 701 deals, which is a 3%...
Cryptocurrency exchange Bybit is on the verge of obtaining a full operational license in the United Arab Emirates after recently experiencing a significant hack that resulted in a loss of $1.4 billion. The exchange announced that it received in-principle approval from the Securities and Commodities Authority (SCA) to operate as a virtual asset platform within...
Lockheed Martin has been awarded a contract modification worth $211.7 million by the Missile Defense Agency (MDA) to provide maintenance and sustainment services for two Terminal High Altitude Area Defense (THAAD) batteries located in the United Arab Emirates. This contract was announced by the Department of Defense, which noted that the requirement was solicited exclusively...
Red Sea Global (RSG) and daa International, the operator of The Red Sea International Airport (RSI), have signed an agreement with Arabian Petroleum Supply Company (APSCO) to introduce Sustainable Aviation Fuel (SAF) at the airport. This initiative aims to promote sustainability in aviation by utilizing SAF and Lower-Carbon Aviation Fuel (LCAF), which are specifically developed...
ADNOC has signed a long-term Sales and Purchase Agreement with Osaka Gas, a major Japanese utility company. This agreement, which covers the supply of up to 0.8 million tonnes per annum (mtpa) of liquefied natural gas (LNG) from ADNOC’s Ruwais LNG project, will last for 15 years. It marks the first long-term LNG sales agreement...
Aamal Company Q.P.S.C., a leading diversified company in the region, has announced a new MoU with Huawei, a prominent global provider of information and communications technology (ICT) infrastructure and smart devices. This agreement was signed during the Web Summit recently held in Doha. The partnership focuses on enhancing collaboration by integrating Aamal Information Technology into...