Analysis Banking & Finance DeFi could go mainstream, with a little help from Gulf regulators For those who imagine a world without banks, decentralised finance – better known as DeFi – is an empowering development in the crypto universe. So, how does it put users in charge of their own finances? DeFi is the provision of financial products and services without the need for intermediaries such as banks, exchanges or […] September 14, 2022
Saudi Arabia taps into Hong Kong AI firm SenseTime, a Hong Kong-based AI software giant, will launch a joint venture in Saudi Arabia as part of the kingdom’s plan to be among the world’s top 15 countries for the adoption of artificial intelligence by 2030. The Saudi Company for Artificial Intelligence (SCAI), a wholly owned subsidiary of the Public Investment Fund (PIF), today […] September 13, 2022
Manufacturing Abu Dhabi bids to become electric vehicle manufacturing hub Abu Dhabi today announced plans for its first electric vehicle assembly facility as the emirate looks to join Saudi Arabia and Sharjah in building a regional manufacturing hub for sustainable transport options. KIZAD, part of AD Ports Group’s Economic Cities & Free Zones, has signed a lease agreement with NWTN to establish an assembly plant […] September 6, 2022
EXCLUSIVE Gulf investors in talks to snap up UK metaverse business Talks between a virtual events company and MENA investors are in their early stages, but a deal is expected 'some time in Q1 of 2023' September 6, 2022
Opinion Energy How big data will save the planet A clear and trusted data strategy is a must as we progress through a complex and critical energy transition process from carbon to clean August 25, 2022
Analysis Sustainability Make it rain: UAE pins its hopes on cloud seeding Condensation streaming down windows is a familiar sight in Dubai’s summer, an illusion of rain at the hottest time of year. The UAE’s average rainfall is extremely low in August, but in recent years there has been a rise, which some experts attribute to cloud seeding – when a dedicated fleet of planes take to […] August 23, 2022
Dubai ranks as most expensive city for mobile data Dubai has taken the unenviable top spot as the most expensive city for affordability of mobile data, with the average cost of 1GB equating to 0.55 percent of personal disposable income, said a new study. In second place is Auckland with 0.37 percent, followed by Seoul (0.32 percent), Buenos Aires (0.32 percent) and Manila with 0.31 […] August 15, 2022
Analysis Banking & Finance Traditional UAE banks must snap up neobanks to survive The UAE’s growing army of digital-only banks could soon be snapped up by traditional banks as digitisation continues apace, experts have told AGBI. A global survey published on Tuesday by UK-based comparison platform, Finder, said 19 percent of adults in the UAE have a neobank account, up from 17 percent last year – and that […] August 11, 2022
Tech Dubai ranks 18th in new index of top digital cities Dubai is the only Middle Eastern city to be highlighted in the Digital Cities Index (DCI) 2022 – a new ranking of 30 global cities across four key pillars: connectivity, services, culture and sustainability. Ranked 18th with an overall score of 63.8, the city’s position highlights its forward-thinking approach to the digitised economy, underpinned by […] August 5, 2022
Analysis Agriculture Food security report delivers stark warning to import-reliant Gulf GCC governments must step up their efforts to develop agri-food technology and recycle waste, a new food security report has warned. The Gulf is one of the world’s most import-dependent regions. The main food security challenge for the GCC is a natural or man-made crisis that could block one or more countries’ access to imports, […] August 2, 2022
Analysis The billion-dollar question: what does it take to make a unicorn? Can the UAE meet its target of being home to 20 unicorns by 2031? Only if entrepreneurs, venture capital and the government work together to build companies that can truly “translate across borders”, according to experts. Today the UAE has just three startups valued at $1 billion: Vista Global, Emerging Market Property Group and Kitopi. […] August 1, 2022
Opinion Mark your diaries: the human longevity revolution is coming Ageing populations can be a challenge, but they're a huge opportunity too. By 2030, spending by senior citizens will make up 10 percent of global GDP July 25, 2022
Analysis Employment Saudi unemployment rate drops as over 1 million expats leave The unemployment rate among Saudi nationals, especially women, continues to decline, as the latest data from the Saudi General Authority for Statistics (GASTAT) also showed that over a million expats left the kingdom during the pandemic. The population at the mid-year point in 2021 was 34.1 million, a 2.6 percent year-on-year decrease. Foreign workers and […] July 1, 2022
Opinion Drone technology will power the Gulf’s fourth industrial revolution Once a gimmick in futuristic novels, drones now have the potential to transform the world we live in June 28, 2022
Analysis Banking & Finance UK Islamic fintech wants to take on the world UK fintech has enjoyed meteoric growth in recent years, and Islamic fintech has been a key part of that success. AGBI speaks to industry experts to get the inside track on the sector’s development UK fintech investment hit $37.3 billion in 2021, up sevenfold from $5.2 billion in 2020, according to figures published by global […] June 24, 2022
Analysis From chocolate to solar power, the UK-GCC trade deal is a winner A trade deal between the United Kingdom and the Gulf region has the potential to support jobs “from Dover to Doha”, while building vital green industries and supplying innovative services to the GCC. That’s according to UK Trade Secretary Anne-Marie Trevelyan, who today launched free trade negotiations with the Gulf Cooperation Council, made up of […] June 22, 2022
11 ways robots are transforming the UAE A new AED1 billion ($272 million) library, which opened in Dubai on Thursday, will employ artificial intelligence (AI) in its operations, including in choosing titles and borrowing and returning books. The Mohammed bin Rashid Library will use a first-of-its-kind smart system in the Middle East to send commands to robots to locate books and deliver […] June 16, 2022
Analysis New deal allows Abu Dhabi to tap into global tech talent pool Abu Dhabi’s latest partnership agreement, part of its $545 million Innovation Programme, will help address urgent skill shortages in the technology sector and widen access to the global talent pool. The Abu Dhabi Investment Office (ADIO) yesterday announced a partnership with global in-house centre consulting firm ANSR and artificial intelligence-powered talent sourcing platform Talent500. ADIO […] June 10, 2022
Analysis Crypto users turn to chatbots in crisis UAE-based crypto exchange BitOasis has seen the number of interactions with its chatbot surge from about 300 late last year, to nearly 3,000 this year after Bitcoin’s violent crash – a total rise of 1,400 percent. Bitcoin, the world’s most valuable cryptocurrency, has more than halved since hitting its all-time high of $69,000 in November […] June 7, 2022
Analysis Banking & Finance Opening a bank account still the ‘biggest hurdle’ for UAE startups Some bank accounts taking up to a year to set up Startups waiting, despite obtaining a business licence Lack of consistency on requirements, rules for new businesses Opening a bank account is “still the biggest hurdle” entrepreneurs and business founders face in the United Arab Emirates (UAE), with some waiting as long as a year […] June 1, 2022
Exclusive How technology is transforming the UAE-UK trade relationship A quick look at the latest UAE-UK trade figures might give the impression that the centuries-old relationship isn’t what it used to be. But dig a little deeper and the figures – down sharply from close to £18 billion in 2018-2019 to £12.3 billion in the year to last September – can be explained by […] May 19, 2022
Opinion Why we must harness AI for the common good Artificial intelligence can and should serve goals such as sustainability and gender equity May 18, 2022
