Tag Archives: Featured

Technologies

AI Saves UAE Workers 4.5 hours Per Week, Freshworks Study

AI Saves UAE Workers 4.5 hours Per Week, Freshworks Study

Data analysis, content creation, text and audio translation, and writing and creating code are among the top 5 use cases for AI in the country

Dubai, United Arab Emirates – The UAE has once again demonstrated its global leadership in technology with the country, alongside India, leading globally in terms of both AI knowledgeability as well as usage levels. This is according to a new Freshworks report for which 7,000 employees were surveyed from 13 countries across the globe. The study found that the majority (84%) of UAE workers are comfortable using software applications enhanced with AI, while a 7 out of 10 consider themselves knowledgeable or experts on AI.

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Real Estate

Binghatti’s Sukuk Tap Records an Overwhelming 420% Oversubscription

Dubai, UAE –Wednesday July 17, 2024:Dubai’s leading real estate developer Binghatti announced an immensely successful Sukuk tap on Monday, 8th of July. The Sukuk tap was linked to the developer’s debut February 2027 USD 300 million Sukuk issuance which was listed earlier this year on London Stock Exchange (ISM) and NASDAQ Dubai, and was over 200% oversubscribed. The recent tap brings Binghatti’s overall Sukuk deal size to USD 500 million. The recent tap witnessed record-breaking demand from both regional and international investors, reaching a remarkable level of approximately 4.2x oversubscription.

The continuous high demand and oversubscription levels of Binghatti’s Sukuk underscores the developer’s strong market position and robust global investor confidence in the Binghatti brand.

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Business & Investments, Technologies

Bitget dominates crypto market with highest market share surge in H1- CCData Report

Global, July 17, 2024 – Bitget, the leading cryptocurrency exchange and Web3 company, has revealed in-depth insights into its growing market share as highlighted by CCData in the 2024 H2 Outlook Report. With the growing credibility and performance of centralized crypto exchanges, it’s more evident now than ever that there’s a shift in paradigm in crypto space.

CCData highlights the roles of various CEXs are changing as they take up new functions and responsibilities. Among which, Bitget has witnessed the ‘largest uptic’ in market share by 38.4% growth followed by Crypto(dot)com and Bybit at 24.6% and 22.2% respectively. While bigger players such as Coinbase, OKX and KuCoin saw declines as compared to other growing CEXs.

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Business & Investments

ACCA announces the addition of new Emirati members to its Members’ Advisory Committee (MAC)

With a government-led goal of achieving a 10% increase in Emiratisation of the skilled workforce by 2026, ACCA announces the addition of new Emirati members to its Members’ Advisory Committee (MAC)

Committee formed to focus on the nationalisation agenda in the UAE

Dubai, UAE; July 16, 2024: With ambitious government objectives to integrate local Emirati talent into both public and private sectors in the UAE, the Association of Chartered Certified Accountants (ACCA) has announced the addition of new Emirati members to its existing Members’ Advisory Committee (MAC), to support its objective of growing the number of Emirati ACCA members.

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Business & Investments

KEZAD Commissions New Natural Gas Network for Clients

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The newly developed gas network will help KEZAD realise its sustainability goals by cutting emissions

Abu Dhabi, United Arab Emirates – 16July 2024:Khalifa Economic Zones Abu Dhabi – KEZAD Group, the largest operator of integrated and purpose-built economic zones, has successfully commissioned a new natural gas network having 311,100 MMBTU/Day capacity in KEZAD Area A – Al Ma’mourah.

The new natural gas network has been developed by the KEZAD Group subsidiary, KEZAD Utilities & Facilities Management Company in three phases with a capital investment of around AED 300 million.

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