In its unwavering dedication to bridging financial gaps for startups, Saudi Venture Capital Co. (SVC) has injected SR112.5 million ($29.9 million) into IMPACT 46 Fund III. This strategic move is poised to empower late-stage companies across the region by fostering growth during the crucial pre-initial public offering (IPO) phase. Late-stage companies are those businesses that […]
The prestigious ADIPEC Awards 2023 has paid tribute to eight groundbreaking projects, companies, and individuals that are driving transformative changes in the global energy landscape. These award recipients hail from the UAE, Malaysia, the United Kingdom, Israel, and the United States, embodying a diverse range of innovators committed to advancing net-zero emissions, decarbonization, and a […]
Steve Phimister, the Managing Director of Petroleum Development Oman (PDO), has outlined the company’s strategic roadmap towards a sustainable future and carbon neutrality by 2050. He emphasized PDO’s alignment with the goals of the 28th Conference of the Parties (COP28) and its commitment to fostering partnerships for the development of core oil and gas businesses […]
Mark Thomas, the CEO of Bapco Energies, has expressed the company’s unwavering commitment to tackling climate change by embracing a low-carbon energy system. Speaking at ADIPEC 2023 and the 28th Conference of the Parties (COP28), Thomas emphasized the crucial role that such gatherings play in fostering collaboration among energy companies to address the pressing global […]
Adipec 2023, hosted by Adnoc and under the patronage of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, is set to take place at the Abu Dhabi National Exhibition Centre (Adnec) from Monday to Thursday. The event is themed ‘Decarbonising. Faster. Together,’ and aims to unite the global energy industry in advancing the decarbonization […]
Presight, a leading big data analytics company driven by generative AI, has been awarded a contract by The National Emergency Crisis and Disaster Management Authority (NCEMA) to develop an AI-driven platform to support humanitarian, medical, emergency, and crisis response efforts in the UAE. This contract builds upon the collaboration initiated between the two organizations during […]
Leading global technology giants, including Meta, Google, Deloitte, PwC, and Microsoft, are set to convene in Dubai next week for the Dubai Assembly for Generative AI. This gathering aims to address some of humanity’s most pressing questions in the wake of the generative AI boom. Renowned experts from Silicon Valley, global AI specialists, innovators, government […]
Abu Dhabi’s non-oil economy witnessed remarkable growth, surging by 12.3% in the second quarter of 2023, accompanied by a 3.5% increase in the overall gross domestic product (GDP), according to data released by the Statistics Centre — Abu Dhabi (SCAD). The emirate’s real non-oil GDP reached an impressive 154 billion dirhams ($42 billion), marking its […]
Saudi Arabia is taking significant steps to diversify its economy away from its traditional dependence on oil. In an effort to achieve a more balanced economy with crops that offer higher economic returns, the country has set an ambitious target of planting 1.2 million coffee trees by 2026, as reported by the Saudi Press Agency. […]
The Organization of the Petroleum Exporting Countries (OPEC) remains optimistic about global oil demand and emphasizes the critical need for sustained investment in the oil and gas sector, according to OPEC Secretary-General Haitham Al-Ghais. Speaking at an energy industry event in Abu Dhabi, Al-Ghais expressed concern about under-investment and deemed calls to halt investment in […]