The pandemic accelerated the digital transformation of many sectors, and put a greater emphasis on innovation
technology investment
Alfanar Global Development
Saudi Arabia’s Alfanar Global Development to invest $532 million in Egypt
Alfanar will focus on localisation of technology for renewable energy, and implementation of IT projects, digital solutions, data centers and cyber security
Digitalisation
Embracing collaboration to make recovery a reality and deliver a digital-first economy
The continued digitalisation of governments will be a crucial stepping-stone when it comes to driving change
blockchain technology
Why ‘socially responsible’ data centres need to be a cornerstone of the region’s digital economy
Middle East data centre planners should be aware that today’s data centres use up an Olympic swimming pool every two days
Abu Dhabi
Abu Dhabi’s ADQ and Jordan launch $100 million tech-focused venture fund
ADQ will invest in high-growth technology companies that will help to create, promote, and drive new digital opportunities in Jordan
digital economy
GCC countries must develop ‘tech champions’ to compete with US and China
The region’s tech market lags behind other parts of the world says Strategy& Middle East, part of the PwC network
Arabian Business
Mental health and the future of work: Two day Arabian Business event to unpack key issues for industry
The Arabian Business UAE Forum is back for 2022, this time as a two-day event featuring thought-leaders and experts to address technology and mental health
digital transformation
Saudi Arabia launches new sandbox for tech service providers
The initiative is in line with the Communications and Information Technology Commission’s aim to accelerate digital transformation across all sectors
business funding
Nearly 74 percent of technology acquisitions are funded by non-IT business units: Gartner study
Gartner revealed that 74 percent of technology acquisitions are funded, at least partially, by non-IT business units
Abu Dhabi
Investcorp launches GCC’s first institutional blockchain fund in Abu Dhabi
The Investcorp fund will mainly invest in early-stage companies operating in areas within the blockchain ecosystem such as blockchain infrastructure, platforms and exchanges, decentralised finance, and data analytics
data centre
IT investments in the MENA region to hit $169 billion in 2022
Worldwide IT spending is projected to total $4.4 trillion in 2022, an increase of 4 percent from 2021, according to the latest forecast by Gartner, Inc.
Abu Dhabi
Abu Dhabi’s ADQ, Turkey Wealth Fund support high-growth potential firms with $300mn venture capital fund
The fund will invest in companies developing emerging technologies or improving existing technologies in significant sectors such as energy and utilities, healthcare, life sciences, food, agriculture, mobility, logistics, financial services, and education
3D headsets
Monetising the metaverse: Four things to consider before staking your claim
Metaverse is a game-changer, predicted to be valued within the trillions of dollars in a few short years
Crown Prince Mohammed bin Salman
Saudi Arabia, UK further talks on space and technology collaboration
Officials examined how the partnership between both countries could be further deepened
Artificial intelligence
UAE ‘digital economy’ to create many high-paying jobs, produce larger revenue streams: report
The Khalifa Fund for Enterprise Development’s Future Market Trends Report 2022 states that as investments in artificial intelligence (AI) increases, more employment opportunities will appear in the sector, considerably boosting the UAE’s economy, which is already strengthened by a strong knowledge-based economy and stimulus efforts by the government
Anghami
UAE’s Shuaa Capital lists tech-focused $100mn SPAC on NASDAQ New York
Special Purpose Acquisition Company will focus on identifying tech-enabled financial services businesses in the MENAT region
Artificial intelligence
Master Works closes $40mn investment in one of Saudi’s biggest tech deals led by Merak Capital
Master Works offers products and services across multiple technology fields such as data management, artificial intelligence, data strategy, API management, software development, and Robotic Process Automation (RPA)
