Category Archives: Business & Investments

Business & Investments

PRESIGHT AND HITACHI DIGITAL SERVICES SIGN MOU

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PRESIGHT AND HITACHI DIGITAL SERVICES SIGN MOU TO EXPLORE COGNITIVE CITY SOLUTIONS FOR THE NEXT STAGE IN URBAN INTELLIGENCE

Abu Dhabi, UAE, January15, 2024: Presight AI Holding PLC (ADX: PRESIGHT), the region’s leading big data analytics company powered by generative AI, and Hitachi Digital Services, the data solutions and services subsidiary of HitachiLtd,recently signed an MOU to explore collaboration in smart city and cognitive city technologies.

The MOU was signed by Dr. Adel Alsharji,COO of Presight and Ms. Margarida Fontainhas Marques, EMEA Vice Presidentof Hitachi Ventara at Presight’s Headquarters in Abu Dhabi. Under the agreement, Presight and Hitachi Vantarawill seek to identify areas for cooperation and synergies in smart and cognitive city solutions.

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Business & Investments

Forbes Middle East’s Under 30 Summit Inspires The Leaders Of The Future

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Forbes Middle East’s Under 30 Summit Inspires The Leaders Of The Future

Egypt, January 14, 2024: Forbes Middle Easthas concluded its sold-outsecond annual Under 30 Summit, which was held on January 11-14in the beautiful community of El Gouna,Egypt. With over 1,500 VIPattendees, expert speakers, young entrepreneurs, policy-makers, celebrities, and business leaders in attendance, the summit explored building the leaders of tomorrow, investing in innovation, the art of design thinking and storytelling, building sustainable startups for a better world, the technologies supercharging product development, and nurturing mental health, diversity, and inclusion.

Khuloud Al Omian, CEO and Editor-in-Chief of Forbes Middle East, emphasized the values at the heart of the summit. “It has been an incredible couple of days celebrating the young professionals and entrepreneurs developing ideas to change the world for the better. It is so inspiring to see so many people come together and create such impactful bonds,” she added. “El Gouna has been a wonderful host, and I’m so proud of our Under 30 community. I look forward to witnessing their future successes.”

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Business & Investments

Lunate Capital LLC Launches Shariah-Compliant ETF Tracking Indian Equities

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Lunate Capital LLC Launches Shariah-Compliant ETF Tracking Indian Equities

  • The Chimera S&P India Shariah ETF will track the performance of Shariah-compliant Indian equities listed on the Bombay Stock Exchange
  • The ETF, which will be listed on the Abu Dhabi Securities Exchange, intends to distribute dividends received twice a year, when available

Abu Dhabi, January 12, 2024 – Lunate Capital LLC, an Abu-Dhabi-based management company licensed by the Securities & Commodities Authority (SCA) and a subsidiary of Lunate Holding RSC Limited announced the launch of the Chimera S&P India Shariah ETF (Bloomberg: CHINDSHI), a physical, in-kind, liquid, and fully fungible exchange traded fund (“ETF” or the “Fund”) that will list on the Abu Dhabi Securities Exchange (“ADX”).

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Business & Investments

ADQ and ADNEC Group enter into definitive agreements

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ADQ and ADNEC Group enter into definitive agreements to acquire a 40.5 percents take in TMG Holding’s hospitality business in Egypt

  • Acquisition of the stake through a capital increase in TMG Holding’s hospitality arm, ICON,will help continue the development of the luxury hospitality industry in Egypt
  • The transaction will also involve the acquisition of a stake in seven iconic heritage luxury hotels in Egypt which are currently owned by the Egyptian Government through ICON

Abu Dhabi, UAE –12January 2024:ADQ, an Abu Dhabi-based investment and holding company, andADNEC Group (“ADNEC”) today announced the signing of definitive agreements for the strategic acquisition of a 40.5 percent stake in Egypt-based Talaat Moustafa Group Holding’s (“TMG Holding”) hospitality arm, ICON Group (“ICON”) through a capital increase. ADQ and ADNEC will invest through a special purpose vehicle, with 49 percent equity ownership by ADQ and 51 percent equity ownership by ADNEC.

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Business & Investments

Middle East CEOs the Most Forward-Looking | AlixPartners Disruption Index 2024

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CEOsin the Middle East Most Forward-lookingasThey Face a

New Age of Long-term Disruptions

  • 8 in 10regional CEOs (v/s 6 in 10 globally)remain optimistic about the prospects of their economyin 2024
  • Survey findings also reveal AI and automationarethe largest disruptive forces impacting their company

January 11, 2024 –Businesses in the Kingdom of Saudi Arabiaand United Arab Emirates remain optimistic about the prospects for their company (80%) and the overall economy (85%) as they continue to navigate the challenges ahead, working closely with their respective governments.This isaccording to findings from global consulting firm AlixPartners’ Disruption Index (ADI), an annual survey that canvasses more than 3,000 CEOs and executivesfrom around the world to uncover the latest global business concerns.

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