Category Archives: Business & Investments

Business & Investments

Industrial AI UPTAKE IS JUST getting Started but MAJORITY OF SECTOR IS UNCOVERING NEW use CASES, FINDS HONEYWELL RESEARCH

  • AI research covers 12 global markets, including Saudi Arabia and the UAE
  • Workforce productivity, flexibility, and safety are cited as key gains from AI applications along with its potential to address the industrial skills shortage
  • Majority of respondents in the UAE highlighted uses cases for AI that were not in their initial plans

Dubai – United Arab Emirates, JULY 24, 2024—Honeywell (Nasdaq: HON) today released the findings of its IndustrialAI Insights globalresearch study, which captures the state of Artificial Intelligence (AI) in the sector. While only 17% of AI decision makers around the world have fully implemented their initial AI plans, more than 9 in 10 say they are uncovering unexpected new use cases whether they are in the prototyping, launch, or scaling stages of AI implementation.

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Business & Investments

Sheraa launches Access Sharjah Challenge allocating AED 500,000 for AgriTech and Livestock Health innovations

Eligible startups can submit their applications until September 5

Sara Al Nuaimi: ASC 2024 reflects Sheraa’s commitment to bolstering the emirate’s role in AgriTech, food and water security.

Khalifa Al Tunaiji: Sharjah has been at the forefront in adopting sustainable and smart technologies to overcome challenges in the sector.

Sharjah, July 29, 2024

Fuelling Sharjah’s and the UAE’s goals to become the world’s best in the Global Food Security Index by 2051, the Sharjah Entrepreneurship Center (Sheraa) has announced the sixth edition of Access Sharjah Challenge (ASC) with AgriTech and Live Health as its two competition tracks. The AED 500,000 challenge is an unmissable opportunity for startups worldwide who have viable prototypes to receive world-class mentoring and expand globally.

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Business & Investments

Americana Restaurants announces H1 2024 results, reports $1.05 billion in Revenue

  • Reported Revenue of $1.05 billionand Adjusted EBITDA of $232.7million, resulting in 22.1% EBITDA margin
  • Net profit attributable to the Shareholders of the Parent Companystood at $80.0 million
  • 81 gross new store openings during first half of 2024, increasing the total Restaurant count to 2,477. 36new restaurants under construction

Abu Dhabi and Riyadh, 30 July 2024:Americana Restaurants International PLC (“AmericanaRestaurants” or the “Company”) (ADX symbol: AMR/ ISIN: AEE01135A222) (Saudi Stock Exchange symbol:6015), the largest out-of-home dining and quick service restaurant operator in the Middle East & North Africa (“MENA”) and Kazakhstan, today announced its financial results for the six months ended 30 June 2024.

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Business & Investments

du, Nokia, and MediaTek Pioneer Next-Level 5G Uplink Performance in MEA

Collaboration significantly enhances 5G Advanced uplink speeds and network efficiency through a trial that combines multiple frequency bands with innovative features like three transmitter antennas and 2CC.

Dubai, UAE, 29 July 2024: du, from Emirates Integrated Telecommunications Company (EITC), in collaboration with Nokia and MediaTek, today announced a major milestone in the integration and enhancement of 5G technologies in the Middle East and Africa (MEA). This innovative trial, a first in the region, has successfully boosted uplink (UL) performance by 70% on du’s 5G Advanced network, simultaneously offering expanded indoor coverage to premium customers.

Executed in Abu Dhabi utilizing du’s operational 5G Advanced network, the trial achieved significant advancements in UL speeds and coverage. This technology promises robust connectivity and superior network efficiency by integrating multiple frequency bands and enhancing transmission pathways, essential for high-demand applications such as video conferencing, live streaming, and substantial data uploads.

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Business & Investments

Network International and Biz2X announce Embedded Financing partnership to transform SME lending in the UAE

Biz2X’s SME financing solution will deliver capital to Network International’s vast network of merchants in the UAE

Dubai, UAE, July 29, 2024:Network International (Network), the leading enabler of digital commerce in the Middle East and Africa, and Biz2X®, a global technology and financing fintech in the U.S., India and Australia with over $10 billion USD funded through its digital lending platform, today announced a new SME financing partnership.

The primary objective of the partnership is to unlock new sources of capital for Network’s SME merchants by leveraging payment transaction data and providing loan underwriters with real-time credit data. Merchants that use Network’s payments platform will have digital access to financing options and can opt-in from a variety of credit offers embedded via Biz2X.

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