US-Saudi venture will use AI to analyse space data
A US-Saudi joint venture has been launched in the kingdom to use satellite imagery to monitor infrastructure development, traffic congestion and carbon sequestration, the natural process of CO2 storage in the atmosphere. Front End Limited Company, based in Alkobar, the Eastern Province of Saudi Arabia, and SpaceKnow, a New York technology company dedicated to transforming […]
VC firm Shorooq focuses on AI, biotech and gaming
Venture capital company Shorooq Partners will target companies specialising in sectors such as artificial intelligence, biotech and gaming, a senior executive told AGBI. Shorooq is based in Abu Dhabi and manages about $350 million in assets and invests in startups in the Middle East and North Africa and beyond. It is focused on on fintech […]
Rising US exports to the UAE support 125,000 jobs
Exports from the United States to the UAE rose by nearly a fifth last year as bilateral trade increased to more than $31 billion. Figures released by the US Department of Commerce Census Bureau show that US exports to the UAE totalled nearly $25 billion in 2023. For the 15th year in a row the UAE was […]
IPO requests in Saudi Arabia rise by 30%
Saudi Arabia’s Capital Market Authority said this week that it had received 56 initial public offering applications, a number well ahead of analysts’ expectations. State oil major Saudi Aramco is also likely to issue a bond this year. CMA chief Mohammed ElKuwaiz told a capital markets forum in Riyadh on February 19 that the applications […]