Emirati Entrepreneur Association and Talabat UAE sign MoU
A Memorandum of Understanding (MoU) was signed between the Emirati Entrepreneur Association (EEA) and Talabat UAE during a ceremony that took place at the Abu Dhabi International Food Exhibition, which was held at the Abu Dhabi National Exhibition Centre. The EEA’s ongoing initiatives to encourage entrepreneurship in the UAE include this MoU.
Gitex 2022 brings in record $698m, DWTC report says
Gitex 2022, one of the biggest technology events in the world, which was hosted in Dubai in October, produced a record Dh2.6 billion ($698 million) in total economic production, according to a report released by the Dubai World Trade Center. The research stated that about $394 million, or nearly 57% of the total output, was kept within the Dubai economy.
France’s Veolia collaborates with Masdar and Beeah to operate Sharjah waste-to-energy plant
The Sharjah Waste to Energy project will be run by a joint venture with the French utility Veolia, the business announced. The first waste-to-energy facility in the area was built by Emirates Garbage to Energy, a partnership between Sharjah environmental management business Beeah and Abu Dhabi renewable energy company Masdar. The facility processes up to 300,000 tonnes of waste from landfills annually.
UAE’s technology innovation institute introduces first high-power fibre laser in the MENA region
The Directed Energy Research Centre (DERC) of the Technology Innovation Institute (TII), a preeminent international scientific research institute and the applied research pillar of Abu Dhabi’s Advanced Technology Research Council (ATRC) announced that it has achieved a significant milestone in the quick development of fiber laser technology.
VR-focused startup Mental plans GCC expansion
Hani Abu Ghazaleh founded Mental, a virtual reality-focused technology startup, out of his love for computer graphics and video games. Before establishing Mental in Abu Dhabi in 2018, Mr. Abu Ghazaleh had an almost 15-year experience in the video game industry, working for major corporations like Ubisoft. Through the application of modern technology, the organization seeks to enhance learning. As the usage of VR technology spreads beyond the UAE, it is also actively involved in educating employees of businesses across all industries.
Dubai Future Labs signs contracts to promote innovation in logistics and aviation
In order to promote innovation in the domains of logistics and aviation, Dubai Future Labs (DFL), a project of the Dubai Future Foundation (DFF), has inked three preliminary agreements with Emirates airline, DP World, and Dnata. As he observed the agreements being signed, Sheikh Hamdan bin Mohammed, the Crown Prince of Dubai and chairman of the Executive Council of Dubai, tweeted that the collaborations would “use future technology to foster innovation in our aviation and logistics industries.”
DigitalX teams up with Blue MENA to enhance service quality for public and private sectors
An exclusive agreement was signed by DigitalX, a division of Digital DEWA, the digital division of the Dubai Electricity and Water Authority (PJSC), and Blue MENA, a pioneer in digital solutions that combine disruptive technologies, business re-engineering, sector expertise, and innovation for improved customer experiences.
The agreement was signed between Hamad Karam, COO of DigitalX and Riadh Boukhris, CEO of Blue MENA to provide unique, competitive and customised solutions tailored to the needs of private and public companies across banking, healthcare and varied other sectors.
African mobility fintech Moove raises $30m eyeing UAE expansion
A debut sukuk offering by Moove, an African mobility fintech that provides car finance to drivers of ride-hailing businesses like Uber and other gig platforms, raised $30 million. It was organized by Franklin Templeton Investments because Moove wants to create the biggest ride-hailing fleet of electric vehicles in the Middle East and North Africa.
Founded in 2020, Moove said it would use the funds to scale to 2,000 EVs in the UAE in the coming year, “creating sustainable economic opportunities, while accelerating the electrification of mobility and enhancing the ride-hailing passenger experience in the region”.
e& continues global expansion by acquiring 11% additional stake in Vodafone
In an effort to broaden its business activities internationally, e&, formerly known as Etisalat, the largest telecom provider in the United Arab Emirates, has boosted its shareholding in Vodafone Group. According to a statement the telco made on Wednesday to the Abu Dhabi Securities Exchange, where its shares are traded, the business has expanded its stake to “aggregate 3,015.5 million shares, representing 11% of Vodafone’s issued share capital [excluding treasury shares]”.
UAE pioneers in adopting latest advanced medical technologies, experts say
According to Dr. Nadine Hachach Haram, founder and CEO of Proximie, “The UAE is already a recognized regional leader in the supply of top-notch healthcare solutions, and it has shown that it is dedicated to major investment to preserve that international standing. The business offers a software platform that enables doctors to virtually enter any operating theater from anywhere, enabling the top surgeons in the world to effectively be present in real-time for complex surgeries in clinics and hospitals across the nation.
Abu Dhabi’s Edge Group and MoIAT concluded a hackathon to address industrial difficulties
The first Pioneers 4.0 hackathon event, organized by the UAE Ministry of Industry and Advanced Technology (MoIAT) and Abu Dhabi defense giant Edge Group, has come to an end. The initiative’s goal is to provide answers to problems in the industrial sector. The hackathon, aligned with the Emirates’ Industry 4.0 plan, encouraged 15 students from a variety of the UAE’s major universities to suggest solutions for problems through the use of modern technology such as artificial intelligence and machine learning, Edge said.
Abu Dhabi Investment Authority launches The Adia Lab to promote research
One of the largest sovereign wealth funds in the world, the Abu Dhabi Investment Authority, has opened a new innovation center and kicked off operations by announcing a $100,000 research award that focuses on investment methods. Adia stated in a statement that the Adia Lab, which was first announced in October, is an independent organization that would focus on data and computational sciences with wide research aims that are not particular to investment-related applications.
e& to form joint venture with South Korea’s Bespin Global
In order to establish a joint venture (JV) with an initial capital of $10 million, South Korean multi-cloud solution provider Bespin Global and UAE telecom firm Etisalat (e&) have signed a legally binding agreement. According to a report made by the telecom business to the Abu Dhabi Securities Exchange (ADX), Bespin Global will control 35% of the JV, which will be known as Bespin Global MEA, while e& enterprise will own 65% of it. The capital contributions will be made proportionately.
OliOli, a UAE-based home-grown brand expands regionally with a new location in Doha, Qatar
OliOli, a globally unique and multi-award-winning experiential play museum that was founded in the UAE, is expanding regionally and launching its second location in Doha, Qatar. Located inside the iconic gift box-shaped building within Katara Cultural Village. With its uniquely innovative design and over 40 interactive exhibits, OliOli is set to raise the bar for family entertainment experiences in the region and beyond.
ADIA of the UAE announces a $2 billion data center investment plan with SC Capital
One of the biggest sovereign wealth funds in the world, the Abu Dhabi Investment Authority (ADIA), has teamed up with Singapore’s SC Capital Partners (SCCP), a private equity real estate company, to establish a data center investment strategy that may generate $2 billion in equity. SC Capital stated that the initiative targets data center investments throughout the Asia Pacific area with an emphasis on Japan, South Korea, Singapore, and Australia. According to a statement, ADIA is also investing in the Pan-Asian opportunistic investment strategy fund managed by SC Capital.
Abu Dhabi’s DED digitally connects 4 free zones in the emirate
In an effort to establish a centralized database for economic licenses in the emirate, the Abu Dhabi Department of Economic Development (Added) has digitally linked four free zones. The e-link project links the 12 economic zones that make up the Kezad Group, including the Masdar City Free Zone, media free zone twofour54, and the Abu Dhabi Airports Free Zone.
NEXT50 launches new platform for businesses
NEXT50 introduced PLATFORM50, a one-stop shop for businesses to maximize company value and handle problems of the future. The announcement was made at the first-ever NEXT50 Executive Day, which highlighted the most cutting-edge innovations in state-of-the-art technologies, including artificial intelligence (AI) and practical applications accelerating a data-driven future in three crucial industries: mobility, logistics, and utilities. Key business figures from the UAE attended the NEXT50 Executive Day.
FRSA launches new initiative on AI
A new effort is being launched by the Financial Services Regulatory Authority of Abu Dhabi Global Market to promote the creation of intelligent regulatory technology (RegTech) tools and aid Artificial Intelligence in gaining context and understanding of the regulatory environment. The decision coincides with an increase in new technology usage by financial services corporations and other businesses.
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