Tuesday , 21 November 2017

Technology

Saudi Arabia, GCC to be connected by ultra-fast tube transportation system

The entire Gulf region will be connected through an ultra-fast tube transportation system, which will operate at a velocity of 1,100 km per hour. Founder of US-based Virgin Hyperloop One, Josh Giegel spoke to Arab News on Thursday soon after he signed an agreement with the MiSK Foundation for an ultra-fast tube transportation system and to train Saudi youths on …

Read More »

GCC countries adopt draft UAE regulations for electric vehicles

GCC Standardization Organization, is currently preparing the draft of GCC regulations according to the UAE project. ABU DHABI- GCC countries have adopted the UAE’s draft regulations on the use of electric vehicles, thanks to their positive features which take into account safety requirements, overall performance of electric vehicles, and their adaptation to weather conditions in the region. Abdulla Al Maeeni, …

Read More »

Abu Dhabi ADWEA seeks to reduce energy consumption by 20% by 2030

Abu Dhabi Water and Electricity Authority is seeking to be among the world’s leading providers of water and electricity by 2020. ABU DHABI – The Abu Dhabi Water and Electricity Authority, ADWEA, said its Demand Side Management programme (Tarsheed), seeks a 20 percent reduction in water and electricity consumption by the year 2030, Abdullah Ali Musleh Al Ahbabi, Chairman of …

Read More »

Bahrain launches largest fintech hub in MENA region

The Bahrain Economic Development Board (EDB) and FinTech Consortium (FTC) have launched Bahrain FinTech Bay (BFB), the “largest dedicated fintech hub in the Middle East and Africa”. The new hub aims to further the development and acceleration of firms as well as the interaction between investors, entrepreneurs, government bodies and financial institutions. BFB, with an area of over 10,000 square …

Read More »

Abu Dhabi to recycle, re-use all waste water by 2020

Growth of emirate’s population in last four decades also impacted the emirate’s environment negatively Abu Dhabi: By 2020 Abu Dhabi will recycle and re-use all of its wastewater within the emirate, officials said on Monday. As it stands now, Abu Dhabi currently reuses only five per cent of its treated wastewater while the emirate uses 60 per cent groundwater and …

Read More »

Saudi fund agrees plan to invest in Virgin space ventures

Saudi Arabia’s Public Investment Fund plans to invest about $1 billion in Richard Branson’s space company, Virgin Galactic, and sister companies The Spaceship Company and Virgin Orbit, according to a joint statement published on Thursday. “This investment will enable us to develop the next generation of satellite launches and accelerate our programme for point to point supersonic space travel,” the …

Read More »

WGES 2017: Region needs green bonds to fund renewable schemes, says bank project finance head

By: Imogen Lillywhite, ZAWYA Capital markets need to get involved in investing in green projects to meet the region’s renewable energy targets, according to a UAE banking head. Frank Beckers, head of project finance and advisory, First Abu Dhabi Bank, told delegates at the World Green Economy Summit in Dubai on Wednesday that while the region was leading the way …

Read More »

WGES 2017: Dubai’s National Bonds signs $653 mln deal to finance clean energy projects

Dubai Electricity and Water Authority (DEWA) on Tuesday signed an agreement with National Bonds to set up a 2.4 billion UAE dirham ($653.4 million) green fund at the World Green Economy Summit (WGES) that opened in Dubai today. “The fund will also be the first major green fund that will have a dedicated arm for Sharia-compliant investments,” Saeed Mohammed Al …

Read More »

Tech savvy: 50% online users in MEA trust social media- survey

Today’s connected world is driving a ‘consumer trust divide’ between suspicious minds in developed nations and more accepting attitudes in emerging countries, according to Kantar TNS’s latest Connected Life research. Kantar TNS surveyed 70,000 people across 56 countries and conducted 104 in-depth interviews as part of the 2017, Connected Life study. The research explored consumer trust in brands in relation …

Read More »

ADGM, Yes Bank collaborate to further advance FinTech opportunities

ABU DHABI- Abu Dhabi Global Market, ADGM, the International Financial Centre in Abu Dhabi, and YES BANK have signed an Memorandum of Understanding, MoU, to further foster cross-border exchange between the FinTech (Financial technology) ecosystems of the UAE and India. The collaboration will enable fintech innovators from the Middle East region and India to apply into YES FinTech programmes and …

Read More »