Dubai Customs has released a new platform called “Al Munasiq“. This platform uses artificial intelligence (AI) to make its services more efficient. This project fits with Dubai’s plan to speed up the use of AI in many areas. This plan was started by His Highness Sheikh Mohammed bin Rashid Al Maktoum, who is also the...
In order to improve its digital banking services, Abu Dhabi Islamic Bank (ADIB) has signed an agreement with Visa, a major payment services company, to use cutting edge hacking technologies. With the danger of cyberattacks growing, this partnership aims to make online transactions safer and keep customer data safe. Visa’s security solutions will likely make...
Shorooq led the way in getting $12.5 million in loan financing for The Box, a self-storage company based in the UAE. The Box is a company that was started by Wadih Haddad in 2007 and offers moving, personal storage, and record management services. With this new money, The Box can grow and build new flagship...
Veefin Solutions, a well-known company that makes digital supply chain finance technology, has teamed up with Invest Bank, one of the best banks in the UAE. The goal of this partnership is to completely digitize Invest Bank’s Supply Chain Finance (SCF) services, swapping out the old paper-based methods for a more modern digital platform. Businesses...
The Abu Dhabi National Oil Company (ADNOC) said Thursday that it planned to sell a 4% share in its subsidiary, ADNOC Gas, in order to raise up to $3 billion. Since Saudi Aramco’s $12.3 billion follow-on selling in June, this is the biggest sale of shares in the Middle East and North Africa (MENA) region....
Ras Al Khaimah Economic Zone (RAKEZ) has teamed up with Praxis, a leader in pension solutions and workplace services, and Equevu, a technology company that focuses on integrating systems and keeping data safe. The goal of this partnership is to bring the Middle East Workplace Savings Scheme (MEWSS) to the attention of the RAKEZ business...
American multinational business Parsons buys $475 million worth of contracts from Saudi Arabia and the UAE. The contracts are for work in technology, defense, intelligence, and infrastructure engineering. In Saudi Arabia in the fourth quarter of 2024, the business won two big deals worth a total of $275 million. The work that goes along with...
Innovations in artificial intelligence (AI) that are changing and growing the Sultanate of Oman were recently shown off at the Microsoft AI Tour. The event, which took place at the St. Regis and was organized by Qais bin Mohammed al Yousef, Minister of Commerce, Industry, and Investment Promotion, showed how committed the country is to...
With an ambitious plan led by Sharjah Media City (Shams), Sharjah is starting a journey that will change the way movies are made in the area. The goal of this project is to make the emirate a center for film production and creative businesses. This will make it a game-changer in the media sector of...
DIFC has started a new study series called “Future of Finance“. The first study, “The Global Finance and Investment Outlook: Charting technological shifts and new global flows,” was put out with the help of Asia House, a research partner. This report talks about important changes and trends that are happening in the global financial services business....