Nvidia unveils ‘superchips’
The company also announced other AI developments.
Business
US regulator announces $100 mn fine on crypto lender
The first-ever such case came as the Securities and Exchange Commission (SEC) looks to establish regulatory authority over digital currency...
- The first-ever such case came as the Securities and Exchange Commission (SEC) looks to establish regulatory authority over digital currency services
- "This is the first such case involving crypto lending platforms," SEC chair Gary Gensler said in a release
Business
UAE launches Nationals Development Pathway for food security
The UAE Food & Beverage Business Group enables the active participation of professionals, Emiratis and SMEs to support the food...
- The UAE Food & Beverage Business Group enables the active participation of professionals, Emiratis and SMEs to support the food sector
- The Middle East Sugar and Calorie Reduction Programme was also unveiled at Gulfood as the first series under the NDP
Business
‘Don’t be Google’: The rise of privacy focused startups
Google once used the slogan "don't be evil" to distinguish itself from its competitors, but now a growing number of...
- They are taking on Google Analytics, a product used by more than half of the world's websites to understand people's browsing habits
- The smaller players know they are not going to overturn Google's domination, rather their aim is to inject a bit of fairness and choice into the market
Interview
TikTok eyes a bigger slice of Arab social media
TikTok is among top ten most downloaded apps in the region, particularly in Saudi Arabia, UAE, and Qatar, says Hany...
- The cumulative follower total of the top 10 GCC TikTok personalities grew from 24.6 million at the beginning of 2020 to 54.6 million in February 2021
- Food, sports and comedy are among the most popular content pillar on TikTok
Business
Mubadala closes Brazil fund
Brazil Special Opportunities Fund I is Mubadala's first fund in Brazil.
- The fund raised capital from a diverse set of global investors, including a leading public pension fund, family offices and corporates among others.
- Mubadala Capital manages over $10 billion of assets in third-party managed funds across its Brazil, private equity, public equities and venture capital businesses.
Business
India to list its largest insurer, set to raise $10bn
India is embarking on the blockbuster listing of the country’s largest insurer as part of a wider privatization drive to...
- After the listing, which is expected in March, LIC will be one of India’s biggest publicly listed companies alongside giants such as Reliance and TCS
- The company holds a two-thirds share in the domestic life insurance market. It manages assets of 36.7 trillion rupees ($491 billion)
Business
Saudi Arabia to issue second local sukuk for the year
For the second time this year, the Saudi government will issue riyal-denominated sukuk for the year, seeking to take advantage...
- The local issuance comes amid rising demand for both international and domestic fixed income markets that provide safe and guaranteed returns
- Countries are resorting to fixed income instruments to settle budget obligations in a bid to fuel economic recovery
Business
YGS awarded $247m mandate
The company will provide enhanced managed services to the UAE government.
- The agreement augments the previous operations and maintenance services provided, to include technology management support, from Jan 2022 until the end of 2026.
- Yahsat has been providing operations and maintenance services since 2011 on its first two satellites, Al Yah 1 and Al Yah 2.
Business
Nawy raises $5m in funding
Nawy, a Cairo-based property dealer, obtained a seed funding round of $5 million, led by the Sawiris family office.
- Nawy is focused on capitalizing on digital technologies and expanding the business to create an informed and transparent decision-making process for its customers
- “We were one of the initial investors in Nawy because we saw the company's potential,” said Onsi Naguib Sawiris, who leads the family office
Business
Apollo to invest in Aldar
Apollo-managed funds and clients will invest $1.4bn in Aldar.
- A total of $500 million would be invested into a land joint venture, $500 million are meant as perpetual Subordinated Notes issued by Aldar Investment Properties.
- Aldar said the land joint venture will allow it to realize long-term value tied up in its vast landbank while maintaining flexibility to develop or sell the land.
Nvidia unveils ‘superchips’
The company also announced other AI developments.
Company News
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UAE crypto registration cost highest in GCC
Infographics
Apple to update iPhone 12 in France over radiation
Both the firm and France's digital minister Jean-Noel Barrot insisted on Friday there was no danger to public health from...
Saudi Arabia leads as MENA region sees gaming boom
The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's...
Business
AstraTech to expand across India, Pakistan, and Egypt: founder
Sharjah, UAE -- The UAE-based technology firm AstraTech is seeking to expand across India, Pakistan, and Egypt in the near...
Business
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Business
RSG gets Mostadam Diamond Certification
The accolade recognizes RSG's commitment to sustainability.
- Red Sea Global has worked closely with the Ministry of Municipal, Rural Affairs and Housing to help define the innovative Mostadam criteria.
- Together, they are creating vibrant and sustainable communities in the Kingdom, paving the way for a more sustainable housing sector.
Geostrategy
Leaders of China’s National People’s Congress, UAE’s FNC hold talks
BEIJING, CHINA – Chairman of China’s National People's Congress (NPC) Standing Committee Zhao Leji held talks in Beijing with the...
- China, the UAE have consolidated political mutual trust and expanded cooperation.
- China supports the UAE in playing a bigger role in international and regional affairs.
Business
Emirates NBD Group invests in sustainability startup Erguvan
Dubai, UAE - Emirates NBD made an investment in Erguvan, a climate and financial technology venture aimed at providing financial...
- The investment was made via Deniz Ventures, an investment fund launched by DenizBank A.S., Türkiye, under the umbrella of Emirates NBD Innovation Fund
- The Group-wide fund was created to enable investments in FinTech, SustainTech and Tech companies and start-ups across Emirates NBD’s key markets