Du posts 10.8% rise in 2022 net profit on higher broadband, 5G demand
Emirates Integrated Telecommunications Company, also known as Du, saw its full-year 2022 net profit rise to AED 1.22 billion ($332 million), as revenues rose by more than 9% on the back of a sustained demand for broadband services and 5G handsets. Net profit for the year ended 31 December 2022 was 10.8% higher than the […]
Vertiv inaugurates new factory in Ras Al Khaimah
Vertiv, a global provider of critical digital infrastructure and continuity solutions, has espanded its factory in Ras Al Khaimah, to support its integrated modular solutions (IMS), low voltage switchgear and busway businesses. The latest addition will help the company proactively address the increasing demand for Vertiv products and services. This new facility will be strategic […]
UAE’s ADNOC to pilot carbon mineralising project in Fujairah
Abu Dhabi National Oil Company (ADNOC) has partnered with Fujairah Natural Resources Corporation (FNRC), Abu Dhabi Future Energy Company (Masdar) and Omani environmental organization 44.01 to pilot technology that permanently mineralises carbon dioxide (CO2) within rock formations found in Fujairah. The project, set to begin this month, will use 44.01’s Earthshot prize-winning Carbon Capture […]
RAM Investment plans AI City Dubai
Sheikh Rashid Bin Ahmed Al Maktoum, Chairman of RAM Investment, has announced a partnership with Europe’s leading artificial intelligence (AI) venture studio and ecosystem Merantix to conceptualise the AI City Dubai, a proposed free zone where impactful AI solutions will be pioneered, implemented and scaled. AI City will be a global AI hub, powered by […]
Dubai’s DMCC launches gaming centre to cash in on $1.8bln gaming industry
Dubai Multi Commodities Centre (DMCC) has launched a its own gaming centre to tap into the region’s AED 1.8 billion gaming industry, which is expected to reach $5 billion by 2025. DMCC, located in Jumeirah Lake Towers (JLT), said it is currently home to 50 gaming companies, including developers and producers, as well as e-sports […]
9 in 10 consumers in MENA bought products online this year: Survey
Ecommerce in the Middle East and North Africa (Mena) is growing at an unprecedented pace, with a recent report showing that 91% of consumers in the region bought products online in the past year. The report, released by global payments solution provider Checkout.com, shows that one in five consumers across Mena purchased retail products online more […]
e& and Ericsson partner to build more sustainable future networks
e& (formerly known as Etisalat Group) and Ericsson will explore initiatives aimed at reducing energy consumption and building more efficient and sustainable future networks. For this they have signed a Memorandum of Understanding (MoU) on the sidelines of the 27th Conference of the Parties of the UNFCCC (COP27) in Egypt. The three-year partnership […]
AIQ works with AWS to quicken innovation in the energy sector
AIQ, a technology pioneer focused on the artificial intelligence (AI)-powered transformation of the energy sector, announced it is working with Amazon Web Services (AWS) to accelerate digital transformation across the sector. The agreement was reached at the recently-concluded Abu Dhabi International Petroleum Exhibition and Conference (Adipec) 2022. Under the agreement, AIQ and AWS will develop […]
Hub71, Yahsat to support development of UAE’s mobile satellite capabilities
ABU DHABI – Hub71, Abu Dhabi’s global tech ecosystem, and Al Yah Satellite Communications Company (Yahsat) today announced a collaboration to accelerate startup technology adoption in satellite communications. Through this partnership, Yahsat will work with founders in the Hub71 community to advance technological innovations that support the development of the UAE’s mobile satellite capabilities. The […]
Commercial Bank International first UAE bank to launch Metaverse location
Commercial Bank International (CBI, a corporate and retail bank headquartered in Dubai, has announced the official launch of its Metaverse location. CBI is the first UAE bank to have presence in the Metaverse and among the few early adapting banks in the Middle East and the world as well. CBI’s virtual location is now […]