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Women are increasingly pivotal in driving tech innovation in the Arab world, particularly in STEM fields like AI and machine learning. With the global AI market projected to reach $1.8 trillion by 2030, initiatives in countries like Saudi Arabia and the UAE are fostering female participation through education, mentorship, and supportive policies. Despite progress, challenges such as cultural stereotypes and systemic barriers remain, necessitating a comprehensive approach to fully harness women's potential in these transformative sectors.
UAE's insurance sector is expected to grow by 20% in 2025, driven by significant investments in digitisation and automation. Emir Mujkic, Director of Insurance Ratings at S&P Global Ratings, emphasized that enhancing customer experience and operational efficiency is crucial for market competitiveness among leading companies.
DP World and the Saudi Ports Authority have launched a SAR 3 billion terminal in Jeddah, aiming to reduce CO₂ emissions by 50% over the next five years as part of a sustainability strategy. Adjacent to the terminal, the Jeddah Logistics Park will span 415,000 square meters, enhancing warehousing, distribution, and freight forwarding services, with completion expected by Q2 2026.
This week, Dubai's FIX Chocolate has gained viral popularity, significantly boosting tourist spending. In other news, Talabat has acquired InstaShop for $32 million, while Global Infrastructure Partners has set up its Middle East headquarters in Doha. Additionally, the UAE Central Bank has launched a domestic card scheme named 'Jaywan', and PIF has anchored Goldman Sachs' new Gulf-focused funds.
The Middle East, spearheaded by the UAE, is poised for a 14% annual growth in renewable energy from 2025 to 2027, with the share of renewables rising from 5% to 7%. Solar photovoltaic (PV) is set to dominate this growth, increasing its contribution from 55% to nearly 70%. Additionally, nuclear power generation is expected to rise by 20% year-on-year in 2024, further diversifying the region's energy mix.
Azura Partners has strengthened its Geneva office by appointing former UBS wealth managers Tarek Sidky and Samir El Nawawy. Sidky, with nearly four decades of experience, joins as a partner, while El Nawawy takes on the role of executive director, both focusing on ultra-high net worth clients. Their expertise is expected to enhance the firm's global growth, which has seen assets under management rise to $4.5 billion since its founding in 2019.
Emirates has introduced upgraded Boeing 777s on two new routes and is eyeing additional aircraft orders to enhance its global network ahead of the Dubai Airshow in November. CEO Clark indicated that any new acquisitions would be focused on the mid-2030s, as manufacturers are currently unable to deliver new aircraft before the end of this decade.
Dubai's leading bank has officially launched crypto trading services for its users, marking a significant step in the region's financial landscape. This initiative aims to enhance customer engagement and provide access to the growing digital asset market.
Talabat has acquired InstaShop for $32 million, enhancing its grocery and retail division while allowing InstaShop to operate independently. This strategic move aims to improve logistics, customer experience, and market presence in the MENA region's quick-commerce sector. Both companies will leverage their strengths to drive innovation and growth in online grocery delivery.
Emirates NBD, one of Dubai's largest banks, has launched cryptocurrency trading services via its Liv app, allowing users to buy, sell, and trade digital assets. The initiative is supported by Aquanow and Zodia Custody, reflecting a growing trend among financial institutions to embrace digital currencies.
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empowering women in stem to drive innovation in the arab world
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