Sponsor News
Eaton
Eaton launches the xStorage Hybrid energy storage system
At the recent Intersolar event, Eaton announced the launch of its xStorage Hybrid energy storage system. With the global shift towards sustainable energy, imperative to the successful reduction of CO2 emissions to combat climate change, energy storage systems play a crucial role in this transition. xStorage Hybrid is designed to capture surplus renewable energy, store it efficiently, and release it when energy demand is high or the production of renewable energy is low… Read more
Industry News
UAE
ADIB enter a strategic partnership with DIFC, supporting fintech growth in the region
Abu Dhabi Islamic Bank (ADIB) has collaborated with DIFC Innovation Hub to fast-track fintech adoption in the Emirates. Home to more than 700 growth-stage tech firms, DIFC is the first and largest financial technology accelerator in the Middle East – acting as a key factor, in both the UAE and GCC’s national plans, to digitally transform the region’s economies. This partnership will see the creation of the ‘Innovation Scouting Programme’, aiming to connect businesses and financial industry leaders with some of the most innovative fintech startups across the region. With ADIB’s Q124 revenues reaching AED 2.5Bn, this foray into fintech will only push the bank’s wealth to new heights…Read more
Du launch cloud and sovereign AI services for the UAE gov’t
UAE telco, Du, is set to deploy Oracle Alloy to offer cloud and sovereign AI services to the Emirates government and public sector, facilitating the rapidly transforming demands of customers. Via Oracle Alloy, Du will provide upwards of 100 Oracle Cloud Infrastructure (OCI) services (alongside its own) whilst also benefitting from Oracle’s collaboration with Nvidia. This announcement follows the Jan 2024 partnership between the two companies, pledging to develop a sovereign cloud platform in the UAE…Read more
Qatar
Economic diversification goals sees Invest Qatar explore Chinese investments
Invest Qatar has announced plans to boost cooperation with China to attract foreign investment, furthering its goals to diversify the economy beyond oil and gas. In recent years, the trade volume between the two countries has experienced considerable growth, reaching approx. $ 13.3Bn in 2020. While this partnership offers numerous benefits, Qatar is keen to transition its economy in line with its Qatar Vision 2030 goals; and with China’s unparalleled technological ‘bank’, this partnership is the perfect vehicle for Qatar’s digital transformation journey…Read more
Saudi Arabia
Saudi Arabia’s Vision 2030 is ‘more than halfway’ done, claims investment minister
At a recent London conference, Saudi’s Minister of Investment, Khalid Al Falih, announced that the Kingdom’s Vision 2030 development plans are on their way to implementation ahead of schedule. Vision 2030, Saudi Arabia’s economic diversification footprint, involves renewable energy projects, technological reforms, and giga-projects valued at trillions of dollars. Since its launch, KSA’s economy has grown by some 70%, positioning itself as the second fastest-growing economy within the G20 at close to 7% annualised GDP growth. It is clear that Saudi Vision 2030 has exponential benefits for its economic diversification and digital transformation goals; goals that were once out of reach but now are coming into fruition … and at a much faster rate than expected…Read more
Kingdom launches the world’s largest renewable energy geographic survey
With the installation of over 1,200 measuring stations, the ‘Geographic Survey Project for Renewable Energy’ aims to pinpoint optimal sites for solar and wind power initiatives across Saudi Arabia. The undertaking, part of the National Renewable Energy Programme, will cover an extensive 850,000 sq/km (a landmass equivalent to the UK and France). Starting this year, KSA plans to launch new renewable energy projects with an annual capacity of 20GW, aiming to reach 100-130GW by 2030, to meet rapidly growing electricity demand…Read more
Middle East
Nvidia and Ooredoo strike an AI deal in the Middle East
Ranked the most valuable company in the world, US chipmaker Nvidia has struck a deal with Qatari telco Ooredoo Group to deploy its AI technology in data centres across the Middle East – a deal that has attracted significant market attention due to the US government’s restrictions on the exporting of AI chips to China and the Middle East. This partnership, marking Nvidia’s first large-scale deployment in the Middle East, enables Ooredoo to become the first company in the region to offer its data centre clients in Qatar, Algeria, Tunisia, Oman, Kuwait, and the Maldives direct access to Nvidia AI and graphics processing technology. This monumental agreement follows Ooredoo’s alleged investment of $1Bn to expand its regional data centre capacity by an additional 20-25MW, supplementing its current 40MW, with further plans to triple that by the end of the decade…Read more