Sponsor News
Knight Frank
Knight Frank and Radius Group team up to launch its first UAE project
Radius Group, an international developer of class A warehouses and industrial real estate, have partnered with Knight Frank MENA to create Radius City Logistics. This will be the first class A speculative temperature-controlled facility in the UAE; spanning 5.2 hectares, this will be the largest speculative-built logistics project in Dubai Investments Park…Read more
Industry News
Bahrain
Batelco and Grnata join forces
Batelco and Grnata have signed an MoU to provide smart solutions for the Golden Gate Residential Towers project. Through this partnership, Batelco will implement the latest technologies to provide high-end smart living. Via deliverables such as customised In-Building Solutions, designed to strengthen wireless signal quality and connections, and other various home automation technologies, are Batelco redefining Bahrain’s standards of contemporary living in this new digital age?…Read more
Saudi Arabia
Saudi companies form AI cloud services partnership
Already an investor in the US AI research company OpenAI, the Saudi IT company Al Moammar Information Systems and investment banker Saudi Fransi Capital have entered a partnership to launch cloud services for the Kingdom’s AI market. Aiming to cement Saudi Arabia as a global hub for AI (outside the US), this JV follows in the footsteps of PIF’s 70% fund allocation into AI projects within the Kingdom – with annual deployment expected to increase from $40Bn to $70Bn by 2030…Read more
Google to fund AI research at KAUST University
Inextricably linked to Saudi Vision 2030, Saudi’s KAUST University has struck a position-shifting deal with Google to fund AI research grants – moving the Kingdom further up the ranks as a global epicentre for AI. The $100,000 grants will boost recognised KAUST researchers’ work and attract students/companies into the Kingdom. This follows deals such as the USA’s World Wide Technology partnership with Aramco Digital and the Saudi government’s collaboration with Microsoft Arabia to integrate AI across Saudi media platforms…Read more
Aramco Digital ink partnership with US firm to transform Saudi Arabia’s AI infrastructure
As mentioned in the news above, Saudi’s Aramco Digital has partnered with World Wide Technology (WWT) to spearhead the development of an AI-powered Digital Innovation Economy in Saudi Arabia. Aligning with Saudi Vision 2030 goals, the collaboration hopes to digitally diversify the Kingdom’s economy, transforming key industrial sectors like energy and healthcare, by integrating AI solutions and localising cutting-edge technologies…Read more
UAE
Gulf Data Hub seek $1Bn in minority stake sale
UAE data centre operator, Gulf Data Hub, is reportedly weighing the sale of a minority stake, hoping to fetch upwards of $1Bn. The company operates five data centres totalling 40MW, has around five data centres under construction totalling 90MW, and has over a dozen facilities planned across the Middle East – one of which is a three data centre campus in Egypt, expected to start at 192MW and reach 300MW by the end of the decade…Read more
Mastercard partners with NOW Money to foster digital payments in the GCC
To boost the digital payment industry across the GCC, NOW Money has partnered with global tech firm Mastercard. Utilising Mastercard’s capabilities for secure and seamless financial access, NOW Money, the GCC’s first digital banking solution for low-income migrant workers, will offer its customers the access and tools to reap the benefits of digital banking…Read more
INTERESTING NEWS
Global cloud infrastructure spending reaches $33Bn in Q1 2024
According to IDC, spending on computer and storage infrastructure products for cloud deployments increased 36.9% y-o-y in Q1 of 2024 to $33Bn. Spending on public cloud infrastructure saw the biggest y-o-y increase, up to 43.9% to $26.3Bn, compared to private cloud spending’s 15.3% during the same period, totalling $6.7Bn. As a result of this growth, IDC predicts that total cloud infrastructure spending will reach $138.3Bn in 2024. Experts predict that this growth is catalysed by the explosion of AI-related investments, and with the Middle East’s ardent commitment to digital transformation, it is no surprise that the region’s spending has increased by 5.3% over the past year…Read more