European Parliament approves ‘pioneering’ rules to govern AI
Senior European Union officials say the rules, first proposed in 2021, will protect citizens from the risks of a technology developing at breakneck speed, while also fostering innovation on the continent.
Metaverse mass adoption may be years away, says Borget
The metaverse version -- where players largely do the same thing but can earn cryptocurrency rewards and buy extra kit for their avatars -- has only opened to the public for special events.NFTs: Digital way to own art, music, videos
Everything is open-sourced, permission less and on-chain, Holaplex CEO Alex Kehaya tells TRENDS on the rising popularity of NFTs.UN warns Internet shutdowns can have deadly consequences
Many governments refuse to acknowledge that they ordered any interference in communications, and sometimes put pressure on telecommunications companies to prevent them from revealing why communications are blocked.Aramco sets up digital industries
It has tied up with Cognite to bolster digitization in MENA.UAE set to lead MENA metaverse
Firms in the region are now offering better participation, levels of cooperation and communication to their staff through productive workspaces in virtual offices. TRENDS takes a look at the some of the UAE's metaverse initiatives.RTA’s revenue collection via digital channels up by 32 percent in 2021
Roads and Transport Authority’s revenues collected through digital platforms increased by 32 percent in 2021, said Mattar Mohammed Al Tayer, Director-General RTA. RTA’s total digital revenues amounted to AED3.5 billion ($952 million), compared to approximately AED2.65 billion in 2020. The number of digital transactions reached 676 million last year, a...A ballet with machines: Is Artificial Intelligence the future of art?
To many they are art's next big thing -- digital images of jellyfish pulsing and blurring in a dark pink sea, or dozens of butterflies fusing together into a single organism. The Argentine artist Sofia Crespo, who created the works with the help of artificial intelligence, is part of the...Financial inclusion enables access to health, education: Study
The study stresses the need for digitally delivered financial inclusion; and for using this as a platform to distribute health and education services to the masses.Building confidence, security in ICT sector fetches Qatar key global award
Qatar participated in the forum as a golden strategic partner, where it reviewed its strategy in the field of digital transformation.‘GCC businesses must adapt to latest digital changes’
Firms must have a specific and clear target list. What applies to real estate won't necessarily succeed in the automotive sector, 199X MD Khaled El Masry tells TRENDS.Digital technologies can cut greenhouse gas emissions: WEF
Digital technologies can reduce greenhouse gas emissions by up to 20% by 2050 in the three highest-emitting sectors: energy, mobility and materials, according to a study by the World Economic Forum and Accenture.NFTs, like cryptocurrencies, lose their sheen
A slew of celebrity endorsements helped inflate a multi-billion dollar bubble around digital tokens over the past year, but cryptocurrencies are crashing and some fear NFTs could be next.Dubai Museum of the Future, Binance to launch first-ever NFT collection
Dubai’s Museum of the Future will develop and launch several digital products on the blockchain, starting with the first-ever NFT collection. The collection, named The Most Beautiful NFTs in the Metaverse, and other products will be developed in collaboration with Binance NFT, the NFT marketplace of Binance. The Museum, which...Quality education could add $2.54 trillion to global economy
A worldwide improvement in students’ capacity for problem-solving to the average level of today’s top 10 scoring countries could add an additional $2.54 trillion to the global economy, World Economic Forum (WEF) said in its latest report. The compound effects of the pandemic, pre-existing inequalities, and the rapid technological change...Mubadala, ENGIE to create digital platform for electric vehicles in Gulf
Mubadala Investment Company and ENGIE signed an agreement to explore the development of a digital platform for charging electric vehicles in Abu Dhabi and the Middle East region. The two companies will work on a joint solution for the installation and operation of charging infrastructure as well as sustainable mobility...Arab News turns 47, renews resolve to provide ‘quality content’
Arab News, the leading multilingual pan-Arab daily, celebrated its 47th anniversary with a commitment to continue to be the platform of choice for voices that matter to its audiences worldwide.Fintech giant Stripe allows Twitter stars earn cryptocurrency
Online payments giant Stripe on Friday said it will start letting Twitter stars get paid in a dollar-pegged form of cryptocurrency in the latest endorsement of digital money.DEWA starts online service to encourage use of electric vehicle
The EV Community Hub website covers the latest government strategies, targets, incentives, and relevant regulations for EVsECI signs MoU with Terminus Group to strengthen digital infra projects
Etihad Credit Insurance (ECI), the UAE Federal export credit company, has signed a Memorandum of Understanding (MoU) with Terminus Group, an international Artificial Intelligence of Things (AIoT) smart solution provider, to strengthen the company’s trade-related digital infrastructure projects in the UAE and its expansion into new markets. The agreement, signed...KSA reports surge in digital payments in 2021, touching $34bn
Digital payments made through a mobile device accounted for 35 percent of all near-field communication transactions in Saudi Arabia in 2021, according to Saudi Payments. The share of payment transactions made using a mobile device in all NFC payments grew from 22 percent in 2020. The number of payment transactions using...UAE approves formation of council for digital economy
The United Arab Emirates (UAE) has given go-ahead to the formation of a digital economy council in a cabinet meeting. It also approved a plan according to which the digital economy can contribute 20 percent to the gross non-oil national economy in the coming years.Tech savvy UAE becomes Arab world’s digital hot spot
The UAE has earned a unique distinction of becoming the only Arab country to be propelled into the premier club of nations with the most technologically advanced governments.DFF to support tech startups in luxury retail challenge
Dubai Future Foundation (DFF) has announced the launch of a new, first-of-its-kind initiative in the region to encourage and support tech start-ups to participate in a special challenge. The challenge is to utilize the latest technologies and innovations and contribute to the development of a quality and innovative experience for...Bahrain and stc to build region’s first data center park
Bahrain will build the region's first data center park in partnership with stc Bahrain to create an integrated digital center in the Middle East.Digital Dubai and Dubai Police to collaborate on cybersecurity
Digital Dubai and Dubai Police will strengthen their partnership and collaborate towards achieving strategic goals in cybersecurity.DET of Dubai and du launch Digital Business Hub
The Department of Economy and Tourism (DET) in Dubai and du, from Emirates Integrated Telecommunications Company (EITC), have opened the Digital Business Hub.Al Rajhi Bank to provide digital guarantee service in Saudi Arabia
Al Rajhi Bank of Saudi Arabia will start providing a digital guarantee service through the electronic financial services platform called Etimad.Digital art in spotlight as Dubai makes crypto bid
Art Dubai, the Middle East's largest annual contemporary art fair, has featured for the first time digital works, as the wealthy Gulf emirate seeks to position itself as a crypto-assets hub.Governor chairs meeting to turn Makkah into a smart region
The meeting was attended by the Minister of Communications and Information Technology Abdullah Al-Sawaha, as well as the heads of universities in the region.Over 27,800 new firms join Dubai Chamber of Commerce in 2021
Over 27,800 new member companies joined the Dubai Chamber of Commerce in 2021, a 66.8 percent increase compared to 2020, which brings the organization’s total membership to over 287,000. In 2021, the Dubai Chamber of Commerce saw the return on investment of its digital transformation over the years. The Chamber...Saudi Arabia and Egypt to cooperate in telecommunications
Saudi Arabia and Egypt have signed an agreement to strengthen cooperation between the two countries in the fields of telecommunications, frequency spectrum and human capacity building.Discussion held on a study as part of Riyadh Economic Forum’s next edition
A panel discussion was organized by the Riyadh Economic Forum to review the progress of an important study, “New Investments, Digital Transformation and the Knowledge Economy”, as part of the forum’s preparations for its tenth session. Several government officials, academics, businessmen and women and others participated in the discussion. The...The Blockchain Opportunity
Are regional governments ready to adopt blockchain technology to boost business payments, transactions, interbank payments and corporate dealings?Professor Roubini on Global and Regional Economies
Artificial intelligence, machine learning, robotics and automation will define the future of jobs, says renowned economist Professor Nouriel RoubiniMubadala invests in PDG
Singapore-based Princeton Digital Group (PDG) has closed an equity investment from Mubadala Investment Company (Mubadala) as a lead investor for $350 millionCloud tech gains strength in GCC
Cloud market in UAE is at emerging stage and is likely to witness rapid growth in the coming years due to high adoption rate among SME’s and the digital transformation agenda.Why crypto creators hate being in the public eye
The two lifelong friends from Florida never sought the limelight, but then they built a multi-million-dollar empire selling digital art and people wanted to know who they were.Elm to list on TASI
The final offer price was set at SR128 ($34.1) per share, the top end of an indicative range.Growing cyber threat demands a united response
A 2021 report by McAfee estimates the monetary loss from cybercrime globally to be approximately $945 billion. When you add to this the global cost of cybersecurity products, the world is facing an annual loss in excess of $1 trillion, he adds.GACA and Oracle sign MoU to steer digital transformative initiative
Saudi Arabia’s General Authority of Civil Aviation (GACA) has signed an MoU with Oracle to develop and support a roadmap for digital acceleration using Oracle cloud services in GACA’s digital transformation initiative. The memorandum was signed on the sidelines of the Global Tech Conference "LEAP" held in Riyadh. It includes...Digital Cooperation Organization launches Startup Passport at LEAP
The Digital Cooperation Organization (DCO) has announced the launch of the DCO Startup Passport to make it quicker, easier and less expensive for startups to do business across borders, local media reports said. This opens up potentially lucrative markets with a combined population of more than half a billion people...Low-code, no-code tools decode GCC’s digital gains
The growth of low-code tools, heightened by digital transformation, is expected to bring about general employee upskilling across several industries in the region.Arabian Centers to set up $14.65m microfinance company
FAS Labs Limited Co., a unit owned by Saudi retail firm Arabian Centers, will set up a digital consumer microfinance company. It will be called FAS Finance and will have a capital base of $14.65 million.Moro Hub teams up with Swedish firm
Moro Hub, the digital arm of DEWA, has signed an agreement with Axis Communications, a Swedish company, offering video surveillance solutions, access control solutions, audio solutions and intercom.Tunisia allows digital sector firms to bid in convertible foreign currencies
The Central Bank of Tunisia (BCT) has authorized companies operating in the digital sector to bid for public tenders in convertible foreign currencies. Tunisian media reports, citing the National Federation of the Digital Sector, have said that bidding has been allowed within the framework of calls for tenders for imported...Not selling NFTs, says Picasso family
They said the only work being auctioned was by Picasso’s great grandson Florian and his collaborators.UAE and Amazon subsidiary to create cloud-based medical record system
The UAE's Ministry of Health and Prevention (MoHAP) has signed a memorandum of understanding (MoU) with Amazon Web Services (AWS), a subsidiary of Amazon, to enhance bilateral cooperation. The MoU also covers organizing workshops on creating a cloud-based electronic medical record system and a healthcare portal focused on serving the...Savii seeks to empower GCC teens financially
The new UAE-based start-up is trying to instil the virtues of economy among teenagers in the regionTwo Iraqi banks to open in Saudi Arabia
The Saudi Central Bank has announced the opening of two branches of two Iraqi banks in Riyadh, and confirmed the signing of an agreement with Iraq to prevent double taxation.Points of Sale terminals in Saudi exceed 1 million, says SAMA
The Saudi Central Bank (SAMA) announced that the number of Points of Sale (PoS) terminals inside the kingdom have exceeded the 1 million mark. These terminals can be found at commercial sales outlets in more than 180 cities and villages, SAMA said, attributing the achievement to a plan that was...