Sponsor News
Duke McCaffrey
A massive congratulations to the Duke McCaffrey team who were recently awarded the Royal Institute of the Architects of Ireland Public Choice Award for their latest innovative project!…Read more
Charles Russell Speechlys 
Exploring critical issues related to restructuring and insolvency in the Middle East, Charles Russell Speechlys (ME) has launched its ‘Insolvency Insights’ podcast. With a host of industry expert guests, this is not something to miss!…Read more
Industry News
Bahrain
Bahrain ranks fifth in ICT Index
For the second year running, Bahrain has cemented its position as a global leader in information and communications technology (ICT) sectors. Ranking fifth globally and third in the Middle East, scoring 97.5 points (surpassing the global average of 74.8), the Kingdom’s zealous commitment to achieving its Bahrain Vision 2030 goals and consolidating its position as a leading hub for digital innovation and economic diversification are more clear than ever…Read more
Saudi Arabia
PIF’s revenue soars to $88.3Bn
Saudi Arabia’s sovereign Fund, PIF, has reported revenues of $88.3Bn in 2023 – demonstrating its fervent efforts to drive economic diversification, digital transformation, and commitment to advancing Saudi Vision 2030’s goals…Read more
Nokia optimises network infrastructure in Saudi
Nokia Corporation (NOK) has announced its collaboration with stc Group to install Nokia’s AI-powered MantaRay Cognitive SON solution for network optimisation in Saudi Arabia. By leveraging Nokia’s industry-leading technology, stc Group aims to develop AI-driven capabilities to drive digital transformation across the Kingdom and cement KSA’s place as a global leader. This pioneering technology will welcome a new era, where AI revolutionises the telecom industry and redefine standards for network performance…Read more
UAE
e& acquires Turkish cloud provider GlassHouse
A $60Mn deal has been struck between e& (formerly Etisalat) and Mediterra Capital, a private equity firm, for 100% ownership of the cloud provider Glasshouse. Glasshouse specialises in data backup and business continuity, and this purchase will allow e& to use the cloud provider’s capabilities across their facilities in the GCC. This is the company’s first venture into the Turkish cloud market, after successful expansions into Saudi Arabia and Egypt in 2019 and 2023. e& is one step closer to achieving its strategic plan to scale e& enterprise, strengthen its digital capabilities, and expand its global footprint…Read more
Dubai offers $6.8Bn incentives to attract FDI
The Executive Council of Dubai has recently approved a new Foreign Direct Investment Development Programme, valued at &6.8Bn. The programme offers incentives to help attract $176.97Bn in investments to the Emirate by 2033 as part of the D33 Economic Agenda. Inextricably linked to Dubai’s ambitions of becoming one of the world’s top three economic cities, the programme aims to attract international companies and support the expansion of existing international countries. Dubai’s competitive advantages, including logistics, infrastructure, geographical location, talent pool, and position as a competitive global commercial hub, all position it at a unique advantage – and the FDI programme will further highlight this…Read more
Mubadala-backed GlobalFoundries buys new semiconductor tech
GlobalFoundries, a chipmaker backed by Abu Dhabi’s Mubadala Investment Company, has purchased a new technology called Gallium Nitride from semiconductor company Tagore Technology; offering faster performance and lower energy consumption than traditional chips in AI and data centres. By utilising this technology, GlobalFoundries hopes to address challenges associated with power design and support the evolution of AI data centre power delivery systems…Read more
ADNOC and e& join forces to build energy sector’s largest 5G network
Scheduled to complete in 2025 and generate $1.5Bn in value during its first five years, ADNOC and e& have joined forces to build the energy industry’s largest private 5g network, covering nearly 11,000 sq/km. This new network will equip ADNOC’s offshore and onshore operations with high-bandwidth connectivity, reducing costs through automation, enhanced efficiency, cutting of emissions, and allowing for the integration of AI solutions in remote facilities – this is just one step closer to ADNOC achieving its goals of becoming the world’s most AI-enabled energy company…Read more
Oman
Masdar and Acwa Power vie for Oman Solar Project
Nama Power has opened submissions to develop a new 500MW solar project in Oman; among those shortlisted are the UAE’s Masdar and Saudi Arabia’s Acwa Power. This new plant is expected to cost $401Mn and is the fourth solar independent power producer (IPP) that the group has tendered…Read more
Qatar
Vodafone partners with Qatar Charity for knowledge exchange
Qatar Charity and Vodafone Qatar have signed an MoU to establish a collaborative partnership for knowledge exchange. In line with Vodafone’s Corporate Social Responsibility Programme, the telco has launched its ‘Better Connections’ training programme to offer Qatar Charity employees a series of tailored courses. Hoping to foster a digital society that enhances socioeconomic progress, these courses will provide employees with the tools to not only better the company but also, at a much broader scale, the people of Qatar…Read more
Middle East
The GCC’s chips ambitions seem to be failing, but why?
Are factors like shortages of engineering talents and lack of water threatening Saudi Arabia and the UAE’s goals of becoming hubs for computer chip manufacturing? We are witnessing an AI and machine learning revolution, resulting in exponential demand for high-end semiconductors. In many ways, access to chips will become a pseudo-currency in the global data market, allowing countries (who are chip rich) significant power and influence. At present, worldwide supply is entirely dependent on a handful of companies such as Nvidia, Samsung, and the Taiwan Semiconductor Manufacturing Company, and this makes others vulnerable. In response, the UAE launched Operation 300 billion with KSA following suit through the launch of its National Semiconductor Hub. Despite these attempts, there is still a monopoly in the industry; so what can be done to fix it…Read more
INTERESTING NEWS
How a new tech academy is helping Saudi Arabia train its next generation
Saudi Arabia has emerged as a global leader in the Artificial Intelligence race, and there are no signs of them slowing down anytime soon … at least not now that international giant Apple is involved! Scheduled to launch this Autumn, the Silicon Valley heavyweight has announced the unveiling of its Apple Developer Academy in Riyadh. Not only is it the first in MENA, but it is also the only all-female academy of its kind in the world. Offering courses on AI technologies, core machine learning, and guidance on how to build and train AI models from the ground up, are we set to see the creation of Saudi Arabia’s tech-savvy workforce of the future?…Read more