Economy Middle East

Economy Middle East presents 30 tech leaders driving digital transformation in the Middle East. These visionary leaders are at the forefront of shaping the growth of the technology industry in the region, which is rapidly becoming a global center of innovation.   Their initiatives are not only accelerating the adoption of cutting-edge technologies and AI but also positioning the Middle East as a global hub for technological advancements, which is opening doors for economic development and sustainable growth. Here are some of the leading names:   H.E. Omar Sultan AlOlama, Minister of State for Artificial Intelligence, Digital Economy and Remote Work Applications, Prime Minister's Office - UAE Artificial Intelligence, Digital Economy and Remote Work Applications Office (UAE) H.E. Eng. Abdullah Alswaha, Minister, Ministry of Communications and Information Technology of Saudi Arabia H.E. Dr. Mohamed Hamad Al Kuwaiti, Chairman, UAE Cyber Security Council  Hatem Dowidar, Group CEO, e& Olayan AlWetaid, Group CEO, stc Fahad Al Hassawi, CEO, du Samer Abu-Ltaif, Corporate VP & President, Central & Eastern Europe, Middle East & Africa, Microsoft   Patrick Johansson, President Middle East and Africa, Ericsson Andrew Torre, Regional President, Central and Eastern Europe, Middle East and Africa, Visa Dimitrios Dosis, President, Eastern Europe, Middle East and Africa, Mastercard  Abdul Rahman Al Thehaiban, Managing Director, Middle East, Africa & Turkey, Google Cloud  Mohammed Amin, Senior Vice President, Central Eastern Europe, Middle East, Turkey and Africa (CEEMETA), Dell Technologies Bader Nasser Al-Kharafi, Vice Chairman and Group CEO, Zain Group Ertug Ayik, Managing Director Middle East and Africa, HP Helmut von Struve, CEO Middle East, Siemens  Nick Redshaw, Senior Vice President Middle East and Africa, Oracle Technology Cloud Oliver Tuszik, President EMEA, Cisco Saad Toma, IBM    Eng. Salman Bin Abdulaziz Al Badran س., CEO, Mobily Check out the full list of tech leaders here: https://lnkd.in/dERMshaA   #tech #technology #techleaders #AI #digital #middleeast #leaders #technologytrends #Economymiddleeast #economymiddleeastmagazine

In his capacity as the Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has sanctioned Law No. (23) of 2024, which pertains to the General Budget Cycle for the Government of Dubai for the fiscal years 2025-2027, along with the general budget for the fiscal year 2025. This three-year budget cycle for 2025-2027 has received approval for a total expenditure of AED272 billion ($74 billion), while total revenue is projected to reach AED302 billion ($82.22 billion). Marking the most substantial budget cycle in the emirate’s history, it reflects Dubai’s aspirations for sustainable economic growth, enhanced community welfare, and the reinforcement of its status as a hub of opportunity and innovation. Read more: https://lnkd.in/dZ779jiT #UAE #Dubai #Budget #Economy #Revenue

Amali Properties announced that it officially broke ground on Amali Island, a landmark luxury development within The World Islands, off the coast of Dubai. Key officials from Amali Properties, as well as the project’s marine works contractors, DUTCO Construction Co. and dredging contractor, Van Oord, gathered in a ceremony to unveil the milestone achievement. “Breaking ground on Amali Island is a proud moment for us. We wanted this project to embody what modern luxury should be — personal, intimate, and unforgettable. Amali Island offers an unparalleled living experience, where the island itself becomes part of the home, providing a connection to nature that is both intimate and grand,” stated Ali Hussain Sajwani, CEO and co-founder of Amali Properties. “Amali Island was born out of a desire to create something truly exceptional. It is more than just a collection of homes. It is a carefully crafted retreat designed to offer an unrivaled sense of serenity and exclusivity,” added Amira Sajwani, COO and co-founder of Amali Properties. Read more: https://lnkd.in/dbnKYeQz #AmaliProperties #RealEstate #UAE #RealEstateNews

Orange Middle East and Africa (OMEA) has teamed up with Mastercard to enhance access to mobile financial services in Sub-Saharan Africa. This partnership, one of the largest initiatives in the region, aims to empower millions of Orange Money wallet users to engage in digital payments via Mastercard’s extensive network of merchants by 2025. The rollout will take place in seven countries: Cameroon, Central African Republic, Guinea-Bissau, Liberia, Mali, Senegal, and Sierra Leone. Amnah Ajmal, executive vice president Market Development, Mastercard EEMEA said: “At Mastercard, we are committed to advancing financial inclusion by leveraging cutting-edge technology to create meaningful, scalable impact. Our collaboration with Orange Money represents a significant step in unlocking the full potential of digital financial services across Africa, enabling millions to participate in the global economy. This collaboration is a testament to our vision to building an inclusive digital ecosystem that leaves no one behind.” Read more: https://lnkd.in/dNMcn9uA #Mastercard #OMEA #DigitalPayments #DigitalFinance #Africa

Commercial licenses in the emirate of Ras Al Khaimah witnessed a 28.6% expansion during the first nine months of 2024 while professional and industrial licenses rose 25%, according to the commercial performance report issued by the emirate’s Department of Economic Development. The report also revealed a significant growth of 27% in commercial activity in the January-September period. Amina Qahttan, director of commercial affairs at the department, confirmed that the total capital of new licenses has doubled, reaching AED792.3 million, compared to AED375 million during the same period last year. Read more: https://lnkd.in/dnXHypzc #UAE #RasAlKhaimah #Economy #Economicgrowth

Abu Dhabi-based Modon Holding PSC announced its collaboration with Lulu Retail, a prominent retail chain in the Middle East, to establish and manage hypermarkets and additional retail facilities in the UAE and Egypt. Modon Holding will utilize its extensive experience in large-scale project development to deliver community retail options, including hypermarkets, supermarkets, and various retail outlets operated by LuLu within Modon’s portfolio, which is set to accommodate millions of residents in the future. Read more: https://lnkd.in/dMnmQkGb LuLu Group International #UAE #Egypt #Economy #Investments #IPO

Red Sea Global, the developer behind The Red Sea and AMAALA, recently announced that Saudi Arabia’s newest luxury resort, Shebara, and the fourth to open its doors at The Red Sea destination, will be welcoming guests starting November 2024. Swipe to learn more. Read more: https://lnkd.in/dVXqCBDv John Pagano #RedSeaGlobal #RedSea #Tourism #SaudiArabia #SaudiTourism

The UAE attracted $16 billion in greenfield FDI capital inflows last year. Key countries involved in these investments were the U.S., India, the U.K., Saudi Arabia, and France, highlighting the UAE’s position as a preferred destination for international investors. These investments led to a 7.5% rise in total jobs created, along with a 31% increase in the number of announced projects and a 37% rise in announced greenfield foreign direct investment (FDI) capital inflows,” said Mohammed Abdul Rahman Al Hawi, under-secretary of the Ministry of Investment of the UAE. Read more: https://lnkd.in/dC85MExd #UAE #FDI #Investments #Economy

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, received Pham Minh Chinh, PM of Vietnam, at Zabeel Palace in Dubai. The Vietnamese Prime Minister is visiting the UAE on an official trip. During the meeting, His Highness noted that he had witnessed the signing of a Comprehensive Economic Partnership Agreement with Prime Minister Pham Minh Chinh. Sheikh Mohammed stated that the non-oil trade with Vietnam had seen a remarkable thirty-eight percent increase between 2022 and 2023, adding that UAE companies such as DP World, Mubadala, and Borouge had made significant investments in Vietnam, with non-oil trade exceeding $12 billion in 2023. Read more: https://lnkd.in/dqi3Guzx #UAE #Vietnam #Economy #Partnership #Economicgrowth #Trade

His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, arrived at Singapore’s Parliament House on Tuesday, marking the start of his official visit to the Republic of Singapore. Sheikh Khaled held official talks with Singapore's Prime Minister, Lawrence Wong, focusing on strengthening strategic bilateral relations and exploring opportunities for development across various sectors to advance mutual interests and benefit the people of both nations. Prime Minister Wong highlighted the significance of this visit in reinforcing collaborative ties and promoting joint efforts across all fields between the UAE and Singapore. Read more: https://lnkd.in/dYnkQXyc #UAE #Singapore #Trade #Partnership #Economy