Month: October 2023

Technology

The largest technology and startup event in the world, Expanded North Star 2023, featured Yalla.

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The largest social networking and gaming company in the Middle East and North African region (MENA), Yalla Groups Limited (“Yalla” or the “Company,” for short) (NYSE: YALA), today declared that its Directors and the president, Mr. Saifi Ismail, had been invited to present Yalla’s unicorn tale at Expand the North Star 2023, the world’s biggest technology and startup event, which was held in Dubai in conjunction with GITEX GLOBAL. Mr. Ismail outlined Yalla’s successful long-term business plans and recapped the company’s exciting beginnings.

“We were humbled to share Yalla’s success story, company background as well as sector insights at this prestigious event, as well as pleased to showcase the distinctive benefits that the region offers for technological businesses and startups,” said Ismail.

“Yalla is firmly committed to promoting success across the information technology startup community and advancing digital growth throughout MENA. Yalla is the first UAE-based technology unicorns to list on the NYSE. To capitalize on growth prospects in the area and support the expansion of local digital economies, we will continue to seek innovations such as artificial intelligence (AI) and develop digital solutions that speak to local users’ needs.

Expand North Star brings together creators, entrepreneurs, angel investors, and tech experts to foster interactions among the startup community. Expand North Star was motivated by GITEX GLOBAL, the most recognizable large-scale tech show in the world. The two gatherings make up the world’s biggest technology show. Over 70 unicorns founders participated in vibrant debates on the key tech stories of 2023 as part of Expand the North Star 2023’s unmatched content program.

Following the sell-out success of last year’s event, the Dubai Council of Digital Economy staged the upcoming 4-day event, which concluded on October 18, 2023, in a brand-new gigantic location at Dubai Harbour, providing endless opportunities for the top corporate innovators and investors in the globe.

In terms of revenues in 2022, Yalla Group Limited will be the biggest MENA-based social media and gaming company. Yalla, an audio-centric group chat platform in order and Yalla Ludo, an informal gaming app with an online version of board games that are well-liked in MENA, both of which have in-game voice conversations and localized Majlis features, are the company’s two main mobile applications.

Technology

Mega-tech expo GITEX GLOBAL debuts in Dubai

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The largest technology expo in the world, GITEX GLOBAL, was formally launched on Monday at the Dubai World Trade Centre (DWTC) by Sheikh Mohammed bin Rashid Al Maktoum, the Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai.

Sheikh Mohammed bin Rashid stressed the event’s importance in his speech, highlighting its prominence as one of the biggest international gatherings of specialists in the technology sector. “For more than 40 years, the UAE has put together the world’s top thinkers and creators, bringing them together in the quest of influencing the course of technology. This discussion has cultivated tactics, perceptions, and alliances that have greatly advanced technology and improved the quality of life for people.

“The UAE continues to take the initiative in creating a bright future for a variety of economic sectors. Over 6,000 exhibitor from 180 countries will convene in Dubai for this year’s GITEX GLOBAL to engage in a new debate about paving the way for the industry’s transformation. The impressive increase in attendance at GITEX is evidence of the rising trust that the world has in Dubai as a key hub for the technological sector today and in the future. This occasion serves as evidence of Dubai and the UAE’s unwavearing dedication to promoting development and innovation and international cooperation in the continuously changing field of technology. We’ll keep playing a crucial position in creating new alliances and expanding the horizons of the technology sector.

The DWTC is at capacity for the 43rd GITEX GLOBAL, which takes place from October 16–20, 2023. The mega-tech event will feature 6,000 companies and 180,000 tech professionals from 180 nations. The Dubai Chamber of the Digital Economy will organize Expand North Star, the largest start-up event in the world, from October 15–18, 2023, at its new location in Dubai Harbour. Over 1,800 start-ups will explore the expanding prospects inside one of the most flexible, varied, and technologically advanced digital economies in the world during both events.
Sheikh Mohammed visited a number of booths during his visit, included those belonging to Etisalat, Huawei Technologies, Beyon, Salesforce, among others, G42, Microsoft, as well as and IBM, where he spoke with prominent figures in technology and learnt about the cutting-edge innovations on show.

Omar Sultan Al Olama, the United Arab Emirates Minister of State for Artificial Intelligence (AI), the Digital Economy, and Remote Work Applications, Helal Saeed Al Marri, the director-general of the Dubai World Trade Center and Dubai’s Department of Economy and Tourism, as well as other ministers and senior officials, accompanied Sheikh Mohammed on the tour.

Following the successful rollout of the 5G SA service for Fixed Wireless customers (FWA) earlier this year, Sheikh Mohammed received information on Etisalat’s 5G technology Stands Alone network for mobile customers. This represents a significant technological milestone. Consumers now have access to a dependable, autonomous national network that allows for seamless phone and data communications across the whole nation.

Development in Dubai

Dubai Health Authority and the Emirati Human Resource Development council in Dubai sign an agreement

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The Memorandum of Understanding (MoU) was signed by the Dubai-based Emirati Human Resource Development Council (EHRDC) & the Dubai Health Authority ( DHA ) to strengthen collaboration and quicken Emiratization activities in the healthcare industry.

In accordance with the MoU, both sides will offer incentives to organizations and businesses that give Emiratis job possibilities as well as educational and certification programs for Emiratis to refine their skills while contributing to the ongoing advancement and modernization of the health care industry.

Abdullah Ali bin Zayed Al Falasi, the Director-General of the Dubai Human Resources Department and Deputy Chairman of the Dubai EHRDC, and Awad Saghir Al Ketbi, the Director-General of the Dubai Health Authority, signed the Memorandum of Understanding.

The chairman of the EHRDC in Dubai, Sultan bin Saeed Al Mansoori and stated: “The healthcare industry is a critical foundation for human life. The quantity and caliber of services offered, as well as this sector’s impact on the national economy, have improved significantly in Dubai and the United Arab Emirates as a whole. The success of the United Arab Emirates as a whole, as well as Dubai in particular, is contingent upon the involvement of its citizens in this sector. even though Emirati talents successfully contribute to the sector’s plan of action and its economic growth, there is an economic imperative to further availability the healthcare industry with specialized Emirati abilities in various fields.

The Uae Health Authority’s dedication to assisting the Emirati Human Resource Development Council in Dubai is demonstrated by this arrangement, he continued.

It serves as a framework for coordinating our efforts to realize the vision of responsible leadership in creating a healthcare industry that is in line with future demands and where citizens strategically contribute. This will enable students to develop a career path that suits their goals and takes advantage of their skills in this crucial industry. Additionally, it gives the private healthcare industry a chance to gain from the value addition that Emirati talent brings.

According to Al Ketbi, the MoU serves as a catalyst for localization plans and objectives in general and the localization of the healthcare industry in particular. Additionally, it provides a significant incentive for healthcare organizations and facilities to broaden their hiring options for national cadres in a variety of specializations.

Development in Dubai

The Dubai Chamber of Digital Economy offers Emiratis courses in mobile application development.

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The Emirati Training Academy’s foundational phase has been started by the Dubai Chamber of Digital Economy, which is one of the three chambers functioning under Dubai Chambers. The cutting-edge online training course, which is a component of the “Create Apps in Dubai” project, is made to give talented UAE citizens the information and abilities needed to pursue a rewarding career in developing mobile apps.

The program’s self-paced courses expand on the program’s initial phase, which debuted in August, by offering a thorough learning experience with two unique tracks focusing on both iOS and Android app development. Those who successfully finish this stage of the program will have an opportunity to apply for a course. Participants are able to complete one or both tracks.

Visit the following URL to submit an application to the training program’s upcoming phase: createapps.ae/en/programs/emirati-training-academy

The feedback we have gotten about the Emirati Education Academy has been tremendously encouraging, said Saeed Al Gergawi, the vice president of the Dubai Chamber of the Digital Economy. The program’s upcoming foundational phase will give an engaging, in-depth curriculum on creating and creating apps, building on this success.

Al Gergawi continued, “The Emirati Training Academy advances the emirate’s forward-looking ambition to convert Dubai into a prominent player in the worldwide digital industry. It is a component of the ‘Create Apps of Dubai’ initiative.

We understand how important it is to take advantage of new opportunities, and we believe that this top-notch training program will help us develop a skilled and knowledgeable group of Emirati programmers and app developers, establishing Dubai as one of the most flexible and technologically diverse digital hubs in the entire world.

The foundational component of the program will concentrate on providing students with the technical, customer service, and user interface skills necessary to develop mobile applications successfully. The extensive curriculum includes specialized courses covering app advertising and monetisation, quick developing prototypes, and introductions to important programming languages, in addition to iOS and Android app design approaches. The goal of the Emirati Training Academy is to help participants develop their abilities and business ideas by guiding them via courses led by knowledgeable Emirati teachers.

The program’s goal is to produce well-rounded developers who are well-versed in the market and users’ needs and are ready for the real-world difficulties of the app development industry. In addition to gaining the knowledge required to work as iOS and Android developers, students will also acquire skills that will greatly improve their chances of landing a job in the wider technology industry.

The Emirati Training Academy, which is only open to UAE citizens of all ages who reside in any of the seven Emirates, aims to educate and improve Emiratis so that participants can launch their own business endeavors. His Royal Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince for Dubai and Chairman of the Executive Council, introduced it earlier this year.

Travel & Explore

At the UAE Educational Fairs in the cities of Abu Dhabi and Dubai, Luxury Hotelschool Paris offers its international degree programs.

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The only global institution specializing in luxury hospitality management education, Luxury Hotelschool Paris, is happy to announce its participation in the famous UAE EDUCATION FAIRS, which will be held in Abu Dhabi and Dubai from October 13–15, 2023.

Luxury Hotelschool Paris, a partner of the most exquisite palaces, provides 5 globally recognized degree programs (Bachelors & Masters in both English and French).

Additionally, the institution is the first partner of EHL (Lausanne) in Paris to grant the esteemed hotel management VET by EHL diploma. Additionally, it cooperates with the prominent University of Coventry in the UK and CTH (Confederation of Travel and Hospitality).

Teams representing the school will be happy to explain to guests the unique aspects of its globally recognized programs, which are created specifically for hotels, upscale resorts, and luxury businesses.

They will be pleased to respond to any inquiries and offer thorough information on the school’s campuses, facilities, and the numerous job prospects that await prospective graduates (through a virtual tour).

“We truly think that training and education are the key to achieving achievement in the high-end hotel industry, and we’re looking forward to addressing the next generation of industry leaders!” The commercial director of the institution is Marinella Amato.

The Masters of Sciences in International Tourism and Hospitality Management will be offered as a new, entirely English-language degree to commemorate the event.

The complete program, which is based in Paris, lasts 18 months and entails writing a professional dissertation in addition to 6 months of coursework with the CTH (Confederation of Tourism and Hospitality), 6 month of employment in a posh hotel, and 2 months of online coursework with Coventry University.

The internship program for the current intake will start in October 2024, allowing students the chance to work in a high-end hotel or resort amid the Middle Eastern nations’ busiest travel period.

Since its founding, the Luxury Hotelschool has collaborated closely with a variety of international organizations, including ACCOR Luxury, Dorchester, Massachusetts Collection, Hôtel de Crillon, the InterContinental Hotels Group, Lutétia, Marriott Hotels, Oetker Collection, Peninsula, Ritz Paris, Shangri-La, and others. These organizations also sponsor all of the school’s classes and sign the diplomas.

Travel & Explore

A Dubai company introduces tour options for deaf tourists.

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Amsaan Accessible Tours, a business established in Dubai, is revolutionizing the way deaf tourists travel by providing specially created tour packages.

The goal of this service, which is the initial of its type in the area, is to make visiting Dubai easier for travelers who have hearing impairments by giving them a seamless and delightful experience.

According to Vitalii Mykhalchuk, Manager of IT Services at Amsaan Accessible Tours, “the company’s focus is on how it can make the UAE accessible for those who are deaf or hard of hearing.”

Travel might be quite difficult for those who are determined. For instance, even something as straightforward as checking into a hotel can involve a lot of help.

If they don’t have a translation or interpreter with them, they may not be able to identify the kind of help they need.

Amsaan, an IT business, first encountered tenacious individuals when it created an app for the deaf.

The program, he said, “enables deaf people to effortlessly deal with all of the obstacles they encounter on a daily basis.”

“The tourism business developed as a logical result of that. It is anything that is very important to one of our creators because he is deaf.
This app will be incorporated into the tour deals, facilitating more independent travel for people with hearing impairments.

It will help with check-in and offer sign language information on anything from scheduling to excursions.

The eight-month-old tour package has started enlisting deaf influencers and bloggers to test out its excursions.

Vitalii stated, “We wanted them to investigate our solutions and provide us with feedback. “The feedback we have received so far has been enormous. While there are accessibility tours offered all around the world, few do it with the level of IT integration that we provide.

The company anticipates bringing in larger group tours by November thanks to the enthusiastic response and feedback. “In the subsequent stages of our endeavor, we will be reaching out to more tenacious people, including the blind, people who use wheelchairs, and those with autism,” the initiative’s lead author said.

Business

All Businesses in Dubai will be provided with AI capabilities through the Dubai AI & Web3 Campus.

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The Artificial Intelligent Transformation Programme (“The Programme”), a highly adaptable sector-neutral corporate accelerator, has been introduced by the Dubai AI and Web3 Campus to assist businesses in the region in becoming more future-proof by increasing their artificial intelligence (AI) skills. The program will improve Dubai’s capacity to compete globally, attract talent, foster innovation, and expand its economy.

The program, which is intended for companies of all sizes, offers C-level coaching on market trends to assist organizations to stay ahead of rivals by using the most recent in AI and technological innovation. In order to hasten the development of proof-of-concept (POC) and internal acceptance, the program will also encourage partnerships with industry leaders and start-ups.

Participants will gain from the robust innovation ecosystem of the Dubai International Financial Center and Dubai’s wider technological landscape to produce practical and timely solutions. Participants in the program will also get access to cutting-edge corporate innovation labs, high-end hardware and software, and spaces for developing and testing prototypes while working with tech specialists.

By easing the adoption of start-ups’ technology through strategic ecosystem alliances and access to specialized licensing and regulatory solutions, the initiative further promotes the success of start-ups. In order to facilitate collaboration between established corporations and up-and-coming start-ups and to foster a culture that encourages technological growth, the Dubai AI & Web3 Campus will also help with commercial deal flow and collaborations.

“We are thrilled to be announcing the official start of the Machine Learning Transformation Programme, a trailblazing effort by the Dubai AI & Web 3 Campus,” stated Mohammad Alblooshi, the chief executive officer of DIFC Innovation Hub. We are interested in collaborating with regional corporations to use artificial intelligence across several industries in order to scale and streamline their company. With the help of our experience, we will be able to support industry-wide business growth and draw forward-thinking corporate leaders to the area. We are still dedicated to finding and keeping excellent personnel that will strengthen Dubai’s reputation as the top business location for tech experts.

Following the unveiling of the Dubai AI as well as Web3 Campus, which boasts cutting-edge digital and physical infrastructure inside the new DIFC Innovation One buildings, including development and research facilities and working together workspaces, the Artificial Intelligence (AI) Transformation Program was launched. This campus is assisting in the recruitment, establishment, and expansion of businesses in the region.

The Campus has already started issuing Web3 and AI licenses to support projects like Distributed Ledger Services, specialized AI consulting firms, computer system builders, research and development in technology, and public network services through DIFC.

Business

Secondary market sales in Dubai increased 31% in September

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Dubai’s downtown recorded the highest sales-per-square-foot rate.
As reported by a real estate firm, the residential market in Dubai experienced a fall in total transactions of 8.3% in September 2023 compared to the same month the previous year.

According to CBRE’s Dubai Home Market Snapshot – October 2023, transactions fell to 7,523 in September due to a dramatic reduction of 41.5 percent in beforehand market sales, while secondary market sales rose by 30.5 percent.
Betterhomes experts, however, have a different viewpoint on Dubai’s beforehand market, which they claim is promising due to a noticeable increase in demand from end users and investors.

The off-plan the marketplace is flourishing, indicating a favorable environment for investing in real estate in the emirate, they produced in a report lately noting that during the past three months, off-plan the marketplace has experienced 35% surge in demand year-over-year. This is due to a 40% to 60% rise in the total number of foreign and local real estate buyers.

In general, the third quarter saw strong sales, while September saw a decline. The overall number of transactions for the year as of the conclusion of the third quarter in Dubai’s residential market reached 87,154, according to Taimur Khan, Director of Research – Mena at CBRE in Dubai.

“This represents a rise of 35.4% from the prior year and the largest total ever recorded for this time period. However, a monthly slowdown in demand has been observed as a result of a fall in off-plan sales, notably in a few key residential districts that have severely underperformed their yearly average. This is largely due to the restricted supply that is entering the market, according to Khan.

According to the CBRE study, there were 87,154 total transactions from January 2023 to September 2023. “This is the largest figure recorded over this period, and despite the decrease that was seen in the previous month, it is projected that the 2023 number will be higher than the 92,144 recorded in 2022,” analysts stated.

The average price in Dubai climbed by 19.6% from September 2022 to September 2023. In this time, the average price of an apartment rose by 19.7%, to Dh1,357 per foot of space, and the average price of a villa rose by 18.9%, to Dh1,605 per foot of space. Although numerous important residential neighborhoods have long beaten their 2014 benchmark, typical apartment sales rates throughout Dubai are still 8.8% below the records set in 2014. Currently, the average sales price for villas is 11.1% higher than it was in 2014.

In the condominium segment of the real estate market, Downtown Dubai had the greatest average price per square foot, reaching Dh2,453; in the villa sector of the market, Palm Jumeirah recorded the greatest sales rate per sq foot, reaching Dh4,995.

The rate of growth in the rental sector has continued to moderate; from September 2023 to September 2023, median residential rentals climbed by 20.6%, which is less than the 21.7% growth witnessed a month before. Average rentals for apartments and villas increased by 20,7% and 20,1%, respectively, during this time. In September 2023, the average rent for an apartment was Dh108,606 and for a villa was Dh322,750.

 

Technology

UAE, India to create Emirates payments card project

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In an effort to strengthen the regional payments infrastructure, the UAE and Indian have reached an agreement on strategy to introduce a domestic card program in the Emirates.

It would be modeled on India’s RuPay cards, which are issued by public, private, and small lenders across the banking spectrum and include prepaid, debit, and credit alternatives.

The United Arab Emirates Central Bank’s Al Etihad Payment firm has teamed up with NPCI International Payments Ltd (NIPL), a wholly-owned subsidiary to the National Payments Corporation of India.The businesses will collaborate to create the national domestic card scheme for the UAE.

The program intends to promote financial inclusion, support the nation’s ambitions for digitalisation, and enable the development of online shopping and electronic transactions in the Emirates.

Additionally, it aims to expand different payment methods, lower payment costs, and improve the UAE’s economy and status as a pioneer in the world of payments.

According to Piyush Goyal, the Indian Minister of Commerce and Industries, “the partnership arrangement between NPCI and CBUAE for the establishment of a national card system for the UAE modeled on India’s RuPay card is an additional turning point in our economic engagement.”
The collaboration between India and the UAE will go far and set an example for the rest of the world.

According to India’s Ministry of Industry and Commerce, the agreement “perfectly aligns with NIPL’s objective to offer its expertise and knowledge in order to assist nations around the globe establish their own cost-effective, and secure payment systems.”

RuPay is a widely used global debit and credit card network that can be used to make purchases in stores, at ATMs, and online.

RuPay cards currently account for in excess of 750 million cards in use worldwide, or more than 60% of all cards authorized in India.

According to the ministry, the domestic card option is built on the concepts of innovation, digitalisation, speed to market, and strategic independence.

The RuPay stack and additional services like fraud detection and analytics are part of the solution offered by NIPL.

Al Etihad Payments will receive assistance from NIPL with regard to the rules of operation for the local card project.
The latest agreement follows agreements made by the UAE and India in July to enable the interconnection of their payments and messaging systems and to encourage the use of local currency for cross-border transactions.

The nations declared at the time that they would look into connecting their respective card switches, RuPay switch and UAESwitch, for the purpose of processing card transactions and facilitating the use of domestic cards.

In order to connect the automated teller machine network of all lenders in the Emirates, the UAE Central Bank launched UAESwitch in 1996.

Technology

PIF establishes a business to advance the EV and automobile ecosystem in Saudi Arabia.

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Tasaru Mobility Investment will spearhead partnerships and strategic investments to localize production.

The Public Investment Fund of Saudi Arabia has established a new business to promote the production of electric vehicles in the country and strengthen local supply chains for the transportation and automotive sectors.

According to a statement from PIF, the new company, National Automobile and Mobility Investments the company, or Tasaru Mobility Investments, aims to promote strategic investments and partnerships with domestic and international private firms.

Tasaru further stated that it planned to localize production and technology to hasten the growth of the kingdom’s EV and autonomous transportation ecosystem.

Omar Al-Madhi, co-head of the Middle East and North Africa, said, “The formation of the company demonstrates PIF’s commitment to diversify the economy, enhance sustainability, and localize technology and sector-specific knowledge.”

Additionally, the new business will encourage the use of cutting-edge technology, research and development, and look for sustainable business prospects in the automotive industry.
According to PIF, its first investment is a joint venture to build an auto logistics hub in King Abdullah Economic City alongside Zamil Family Real Estate the company, Abdullah Ibrahim Alkhorayef Sons Company, and Dar Al-Himmah Projects Company Ltd.

Tasaru will own the majority of the stock in the new business.

Saudi Arabia, the largest crude exporter in the world and the top oil producer in Opec, has set lofty goals to combat climate change and reduce carbon emissions in order to transform its economy and lessen its dependency on oil.

By 2060, the nation wants to have net-zero emissions of carbon.

Tasaru will advance the nation’s environmental goals, notably its net-zero 2060 aim and PIF’s own net-zero 2050 target, by expediting the switch to EVs and future transportation options.

The global EV market is expanding as governments and society turn toward energy efficiency and environmentally friendly transportation.

According to research from Fortune Business Insights, the global EV industry is expected to increase by more than three times to around $1.6 trillion by 2030 from an anticipated $500 billion in 2023.
As parts of its Vision 2030, Saudi Arabia, the largest economy in the Arab world, is putting a lot of effort into developing its local EV market to aid in the transition and expand its domestic manufacturing industry.

5,000 fast chargers will be installed nationwide by 2030, according to a new electric vehicle (EV) infrastructure firm that PIF & Saudi Electricity firm launched on Monday.

The PIF-backed luxury EV manufacturer Lucid Group announced last month that it has opened its first overseas manufacturing facility in Saudi Arabia. This facility is projected to create 155,000 electric vehicles annually.

The PIF introduced Ceer, the first electric car brand in the country, in November of last year. Ceer hopes to bring in over $150 million in foreign direct investment & generate up to 30,000 jobs, both direct and indirect.
Since 2017, 89 new companies have been founded by the PIF, the organization at the heart of the kingdom’s diversifying drive.