The Abu Dhabi government has issued an invitation for companies to submit bids for the development of an artificial intelligence system aimed at improving the interpretation of genetic data. This project seeks to create a large language model (LLM), similar to the technology behind ChatGPT, that will utilize medical and genetic datasets from the Abu...
The United Arab Emirates’ Abu Dhabi National Energy Company PJSC, commonly known as Taqa, has reached out to CriteriaCaixa SA, the largest shareholder of Naturgy Energy Group SA, to revive discussions regarding a potential stake in the Spanish utility valued at €24 billion (approximately $26 billion). Sources familiar with the matter revealed that Taqa’s chairman,...
Saudi Aramco, a leading integrated energy and chemicals company, has finalized the acquisition of a 50% equity interest in the Blue Hydrogen Industrial Gases Company (BHIG), based in Jubail. This partnership with Air Products Qudra (APQ) aims to enhance hydrogen production in the Jubail Industrial City, focusing on lower-carbon hydrogen solutions derived from natural gas....
One in four companies in the Gulf Cooperation Council (GCC) is planning to invest more than $25 million in artificial intelligence by 2025, according to a recent study by the Boston Consulting Group (BCG). This finding aligns with a broader trend, as one in three companies globally intends to allocate a similar amount to AI...
Sheikh Tahnoon bin Zayed, Deputy Ruler of Abu Dhabi and National Security Adviser, recently met with Mark Zuckerberg, the founder of Meta, and Peng Xiao, the chief executive of G42. This meeting was confirmed through a social media post, although the exact location was not disclosed. This engagement follows Sheikh Tahnoon’s earlier discussions with prominent...
Adani Enterprises Limited has announced the establishment of a wholly owned subsidiary called Cococart International-FZCO in Dubai, UAE. This new entity was formed through its step-down subsidiary, Cococart Ventures Private Limited. The primary aim of this strategic move is to bolster Adani’s overseas trading capabilities, aligning with the business objectives of Cococart Ventures and potentially...
Dubai has reached a significant milestone by ranking 5th globally for FinTech in the latest Global Financial Center Index. This achievement underscores the city’s transformation into a leading global financial center, largely credited to the Dubai International Financial Centre (DIFC) and its efforts over the past 20 years. Additionally, Dubai’s overall ranking improved to 12th...
The Abu Dhabi Investment Office (ADIO) has announced a significant multi-year partnership with Gushcloud International, a global company specializing in creator management and digital marketing. This collaboration aims to establish Gushcloud’s regional headquarters in Abu Dhabi, marking a notable step in enhancing the emirate’s digital economy and creative industry. As part of the partnership, Gushcloud...
Cognite, an industrial software firm backed by Saudi Aramco, has launched its AI services center in Bengaluru, India. The company revealed plans to invest millions of U.S. dollars in India and aims to increase its investment in the region over time. Chief Strategy Officer Hakon Bjerke emphasized that Cognite is committed to this growth strategy....
Switzerland-based hotel firm Aman Group is actively seeking to secure $2 billion in new capital to support its global expansion initiatives. The luxury hospitality brand has already attracted approximately $1.3 billion from Gulf wealth funds and other investors over the past three years. The funds will be utilized to open more hotels across the Middle...