Sponsor News
Datalec Precision Installation
Datalec nears opening of new UAE data centre manufacturing plant
Data centre services provider Datalec Provisions Installations (DPI) is set top open its new manufacturing facility in the UAE by the end of the quarter This opening comes just as the UAE and the Middle East region experience a monumental boom in the data centre industry. DPI’s new facility will consist of 51,000 sq.ft and is set to produce aisle containment and security caging. This all comes as part of Datalec’s strategic growth, with the business showing commitment to the Middle East region…Read more
Industry News
Saudi Arabia
Saudi Aramco and KAUST invest $100Mn in R&D
Saudi Aramco, the world’s largest oil producer, and KAUST University have announced plans to invest upwards of $100Mn in research and development projects. The 10-year investment will support projects on energy transition, sustainability, materials innovation, upstream technologies, and digital solutions aiming for both environmental and commercial benefits – all in line with the goals of Saudi Vision 2030. This follows Google’s recent provision of a $100,000 research grant to KAUST University…Read more
Saudi revamps its investment laws
In an effort to attract more private sector funding for giga-projects, Saudi Arabia has updated its investment laws. The revamp pulls together Vision 2030 reforms and the National Investment Strategy under one framework. It aims to provide investors with ‘’greater transparency, flexibility and confidence’’ according to a government statement. Previous initiatives spearheaded by the government has led to an increase in FDI, although still below the 2030 target of $100Bn a year. Khalid Al Falih, Saudi Minister of Investment, comments that ‘’the updated investment law builds on an extensive diversification agenda, from enhanced quality of life offerings to investment specific measures such as the establishment of special economic zones’’…Read more
Middle East
Mena startup funding trebles, with fintech leading the way
Technology entrepreneurs across the Mena region have seen investment values hit $355Mn in the last month, an increase of 206% on the previous month. Fintech remained the most popular choice among investors, accounting for more than half of the total value, at $181 Mn…Read more