Abu Dhabi’s 67% Surge in AI Companies: A Magnet for Startups, Investors, and Talent

The registration of artificial intelligence (AI) companies in Abu Dhabi has soared by 67 percent between 2021 and 2023, according to a recent study by the Business & Economics Intelligence Sector at the Abu Dhabi Chamber of Commerce and Industry (ADCCI). This remarkable growth cements Abu Dhabi’s position as a frontrunner in the global AI […]

The GCC to Unlock the Metaverse With $15 Billion Virtual Venture by 2030

Is the metaverse hype fading, or is it an ongoing project yet to reach its peak? There’s no denying the significant global investment pouring into the metaverse, as indicated in a report by Strategy& Middle East, a part of the PwC network. In fact, the total value of the metaverse is expected to approach $800 […]

Saudi Arabia Launches World’s First National Cultural Metaverse Platform

The Saudi Ministry of Culture announced the groundbreaking launch of the world’s first national initiative in the Metaverse, supported by the Generative Media Intelligence (GMI) artificial intelligence system. This initiative is a collaboration with droppGroup, introducing the world’s first ‘Phygital‘ Metaverse utilizing Hyperledger Fabric 2.5 blockchain technology, manifested through the Saudi Heritage Metaverse platform. The […]

Muqassa and Blockchain-Enabled Instimatch to Introduce Repo Trading Platform to Saudi Market

Muqassa, a Saudi-based subsidiary of the Tadawul Group specializing in trade settlement, has entered into a Memorandum of Understanding (MoU) with Instimatch, a Swiss cash management platform utilizing blockchain technology. The aim is to introduce a repo trading platform to enhance the financial framework of the Saudi Capital Market. This repo trading platform, facilitated by […]

Awaiting the Outcome of the FATF Meeting: UAE Nears Exit from Grey List

It is now expected that the Financial Action Task Force (FATF) will announce, at the end of its annual meeting, which begins today in Paris and continues until the 24th of this month, the removal of the United Arab Emirates from the enhanced follow-up stage, commonly known as the grey list, in the areas of […]

The Evolution of UAE Trade Connect Toward Global Transformation: From UTC to Haifin

In a rapidly evolving digital landscape, the UAE Trade Connect (UTC) has embarked on a journey to redefine the future of trade in the region and beyond. Launched in mid-July 2019 as a joint initiative between the First Abu Dhabi Bank (FAB) and Etisalat Digital, UTC set out to revolutionize digital trade through the integration […]

Mubadala Joins RW3 Ventures in Fundraising Efforts for Blockchain and Web3 Ventures

RW3 Ventures, a venture capital firm specializing in early-stage investments within the blockchain sector, has announced the successful closure of RW3 Ventures Fund I LP (“Fund I” or the “Fund”), securing $60 million in capital commitments. The Fund received substantial backing from The Raptor Group, along with support from Mubadala Capital, the asset management arm […]

Finschia & Klaytn Merger Approved: New Asian Blockchain Giant to Make UAE Home

The groundbreaking merger between Finschia and Klaytn has been officially approved, marking a significant milestone in the world of blockchain technology. With a 100% voting turnout and an impressive 95% approval rate, the merger is set to create Asia’s most extensive and influential blockchain ecosystem. As the Finschia Foundation announced, the merger will establish Asia’s […]

AI Investment Dominance: Middle East Takes Global Lead in 2024

A recent survey conducted by the Boston Consulting Group (BCG) indicates that at least 93% of C-Suite executives in the Middle East are planning to increase investment in artificial intelligence and generative AI (GenAI) within the upcoming year.Following closely behind, Europe and Asia show similarly high levels of commitment, with 86% and 85% of executives, […]