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 […]
Ralph de Geus, a prominent serial entrepreneur, has made a name for himself in the business world as the owner and shareholder of multiple successful ventures. With a diverse portfolio and a passion for nurturing startups and scale-ups, he has emerged as a key player in the entrepreneurial ecosystem. De Geus is best known as […]
Red Sea International (RSI), a Saudi modular building solution provider, has successfully secured a financing deal worth SR330 million ($87.9 million) with Al Rajhi Bank. This financial arrangement encompasses a SR250 million loan that will facilitate RSI’s acquisition of a 51 percent stake in Fundamental Installation for Electric Work Co. Ltd., commonly known as First […]
Oman’s economic landscape is undergoing a significant transformation as global credit rating agency Standard & Poor (S&P) elevates the nation’s long-term credit rating from “BB” to “BB+.” This move by S&P Global underscores a notable shift in Oman’s non-oil sector, indicating the potential for substantial growth in the years to come, particularly between 2023 and […]
Saudi Arabia’s endowment investment funds have witnessed remarkable growth in 2023, with the number of licensed funds increasing by 13, totaling 24, according to the General Authority of Awqaf (Religious Endowments). In a newly released report, the authority disclosed that this expansion has propelled the net assets of endowment investment funds in the Kingdom beyond […]
