According to the state-owned Saudi Press Agency, the international technology conference LEAP 24 has attracted investment deals worth $888 million. 

The investments include funds for venture capital and start-ups and are intended to support innovation and tech entrepreneurship in the region.  

Investcorp launched a $500 million fund to target Saudi businesses in their growth stages. 

 The National Development Fund and the Social Development Bank established the $40 million Gaming and Esports Investment Fund, managed by Impact46. 

Merak Capital also established an $80 million fund to back game accelerators in the kingdom.  

Furthermore, another fund worth $50 million was launched by Takamol Holdings to support early-stage firms, while Plug and Play and X by Unifonic announced two more funds to support technology start-ups and business software services for young businesses.  

In addition, Saudi-based start-ups raised a total investment of $53.4 million. Among them, BRKZ, an international information technology firm secured $8 million in a Series A round. 

 FanZ, an AI-enabled sport tech secured $1.5 million in pre-seed funding, and Lawazem, an online B2B supplies player secured $8 million, among many others. 

About LEAP 2024: 

LEAP 2024 was a highly successful technological conference that attracted 50,000 guests from outside the Kingdom.  

Al-Khamisi proudly declared it as the most attended conference of its kind in the world, with a total of 215,000 visitors. 

This contributed to a surge in hotel occupancy rates in Riyadh, which reached 99 percent during the conference. Furthermore, many new projects were announced at the event. 

investments totaling $13.4 billion, showcasing the Kingdom’s growing economy in the global tech landscape. 

 Read More about LEAP 2024

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Sized three times bigger than the normal H1 Hummer, it sits at 6.6 meters tall, 14 meters long and 6 meters wide, currently being on display in the offRoad History Museum in Sharjah, UAE.

The Hummer belongs to Hamad bin Hamdan al Nahyan, owning a car collection of over 3000 custom-made and modified cars, he earned his nickname as the Rainbow Sheikh because he bought a collection of Mercedes E-Class cars, one for each color of the rainbow.

Sheikh Hamad currently holds several Guinness World Records for his collection including the titles of:

• Largest collection of 4×4 vehicles.
• Largest motorized model car.
• Largest SUV in the world.

The Hummer took 6 people 1.5 years to build and was custom-made inside the Rainbow Sheikh’s garage, the car is powered by 4 diesel engines, one for each military grade American wheels, it has multiple floors inside of it, a bathroom stall, a kitchen and a living room to enjoy the space inside.

The car was spotted moving outside the offRoad museum in 2022 in a form of short video content, it made laps around the city, which is completely street-legal in the UAE, with an estimated top speed of 37 KM/H.

Sheikh Hamad has a collection of abnormal cars, especially 4×4 vehicles currently being displayed at his museum, including but not limited to:

The Magic Carpet, the largest Bedouin Caravan, Flying cars, Desert Racers, the largest jeep in the world, Big-Wheeled RAM 2500, 6×6 Nissan Patrol and many other in his collection of over 3000 cars.

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Joby Aviation, a company that develops commercial electric aircraft services signed an agreement with Dubai’s Road and Transportation Authority to launch their air taxi services in the emirates in collaboration with Skyports.

• Skyports will construct, improve, own and operate vertiports to provide take-off and landing platforms at specific locations in the Emirate of Dubai.
• Joby Aviation will manufacture and operate air taxis in the emirate.
• Dubai’s Road and Transportation Authority will oversee and regulate the process.

With this agreement, Dubai will become the first location that allows commercial electric flying taxis, with Skyports having exclusive rights to build and operate Vertiports in Dubai.

The agreement laid plans for four vertiports located by Dubai International Airport, Dubai Downtown, Palm Jumeirah and Dubai Marina, with an estimated flight time of 10 minutes between Dubai International Airport and Palm Jumeirah compared to 45-50 minutes by car.

Studies have been conducted at four locations and the architectural design for the first phase of development has begun. The Vertiport certification and approval process has commenced with several critical government stakeholders including the General Civil Aviation Authority (GCAA), Dubai Civil Aviation Authority (DCAA), Dubai Air Navigation Services (DANS), and others.

Duncan Walker, founder and CEO of Skyports said: “Today marks a significant step towards the launch of commercial air taxi services in Dubai. The industry has never been closer to making it a reality.”

“This agreement brings together the key enablers of advanced air mobility: strong, innovative local leadership; a world-leading aircraft partner; and critical ground infrastructure integrated with the Emirate’s existing transportation networks.” He added.

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Guinness World Records officials were present at Al Nakheel Paper Mill in the UAE capital to validate the achievement, which represents Fine Hygienic Holding’s dedication to pushing the boundaries of innovation and production excellence. The officials conducted intensive and systematic inspections of critical equipment and process parameters. The event was also attended by Mohamed Ghareeb Al Hosani, Chief Experience Officer, Khalifa Industrial Zone Abu Dhabi (KIZAD)

“When you look at all the world-class multinational companies involved in the tissue industry for decades, with rich histories and experiences, it is difficult to adequately express the pride I have in our FHH team,” said James Michael Lafferty, CEO of Fine Hygienic Holding. “We are a humble, second-generation family company, proud of our Palestinian and Jordanian roots. We have always believed our standards of excellence could compete with anyone, and this world record validates this. Fine can stand toe-to-toe with anyone in this industry globally and be competitive.”

Samir Masoud, UAE Supply Chain Director at Fine Hygienic Holding, added: “Driven by a strong willingness to address the escalating demand for Tissue Jumbo Rolls, we embarked on a transformative journey aligned with our vision. We initiated the process in June 2022, where our paper mill team harnessed their expertise to increase the initial speed from 2,000m/min to 2,100m/min by August 2022. By March 2023, the team had reached an astonishing speed of 2,222m/min during a stable 24-hour run. That was the moment we invited the Guinness World Records team and we are grateful to them for taking the time to visit the mill and validate the record.”

As part of the validation process, the Guinness World Records team carried out careful and vigilant technical studies and optimisation of the entire production system, starting from stock preparation, paper machine, winder, wrapping and packaging units.

It is worth mentioning that the record-breaking achievement was made possible due to the leadership of Khalil Shorbaji, Al Nakheel’s Operation Manager, and Abdelhadi Alhader, Al Nakheel’s Technical Manager.

FHH, renowned for its diverse array of award-winning products, such as sterilised facial tissues, napkins, kitchen towels, toilet paper, baby diapers, adult briefs, and jumbo rolls, has garnered a multitude of accolades throughout its 65 years of operations. Notably, the company has received various awards, among them the prestigious Excellence in Sustainability Environmental Certificate from CHEP, a global provider of supply chain solutions. This certificate stands as profound proof of the company’s adherence to sustainable practices and its dedicated endeavours to minimise environmental impact.

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The premier cybersecurity event, held during ADIPEC, brought together over 200 cyber enthusiasts from the energy sector to compete in a virtual round, followed by a final round that saw the top 10 cybersecurity talents go head-to-head, tackling the most pressing challenges from the energy sector.

H.E. Dr. Mohamed Al Kuwaiti, Head of Cybersecurity for the UAE Government, said, “We stand at a pivotal juncture where the intersection of technology and energy demands unwavering cybersecurity vigilance. Cyber Energy is more than a competition; it’s a challenge designed to equip participants with the skills necessary to detect and thwart cyberattacks through innovative drills. I’d like to thank the cyber talent who participated in Cyber Energy 2023 for contributing to our shared vision of a secure digital future for all.”

Mohamed Al Kaabi, Executive Vice President, Group Digital & Cyber Security, ADNOC, stated, “ADNOC’s dedication to innovation and sustainability extends to our approach to cybersecurity. As we accelerate the energy transition through cutting-edge technology, we recognize the paramount importance of cybersecurity in safeguarding our operations and the global energy landscape. Initiatives such as the Cyber Energy event are a testament to our commitment to raising awareness on upholding the highest standards of digital security, protecting our assets and ensuring business reliability. It is our collective responsibility to actively contribute to building a more secure and robust digital tomorrow.”

The top three winners were honoured during an award ceremony, where H.E. Dr. Mohamed Al Kuwaiti, Head of Cybersecurity for the UAE Government, Yaser Almazrouei, Executive Director, People, Commercial & Corporate Support at ADNOC, and Tayba Al Hashemi, ADIPEC 2023 Chairperson and CEO of ADNOC Offshore, presented the awards and acknowledged the team’s efforts in doing their part to strengthen their industry’s cybersecurity landscape.

Benamarouche Abdelmoumen, Benhur Tekeste, and Ousamma Messabih were recognized for their exceptional vigilance and innovative problem-solving in effectively addressing complex cybersecurity challenges.

Cyber Energy 2023 sought to illuminate evolving cybersecurity challenges and elevate cyber resilience in a rapidly transforming energy landscape. The competition was supported by technology partners, CPX and Immersive Labs, who played a significant role in ensuring its success.

In addition to Cyber Energy, the CSC and ADNOC hosted a separate Tabletop Crisis Simulation Exercise for senior executives at ADIPEC. This exercise also addressed real-world cybersecurity threats impacting the industry, and encouraged knowledge sharing between UAE business leaders.

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The international competition, organised by Global EEE, a nonprofit organisation for student competitions based in the US, was held for the first time in the MENA region and took place at Hudayriyat Island, Abu Dhabi. The competition took place over approximately 17 months and comprised two stages, the first being the design, analysis, simulation and virtual race, followed by construction, testing and finally, racing.

Showcased as part of Automechanika Dubai’s inaugural Innovation4Mobility event feature, the high-performance F1 electric vehicle can reach speeds of up to 160 km/h.

Speaking at Automechanika Dubai, Hasan Hamdan, Research Assistant, Abu Dhabi University and final year Masters’ student, said: “Powered by two batteries and four electric motors, each with 12 KW of power, this F1 car was designed in collaboration with the university’s mechanical and electrical departments, with both under-and post-graduate students taking part in the project. While common components between all competing teams included the batteries and motors, the universities individually designed all other elements of the car. The team also dedicated significant attention to ensuring full aerodynamic stability, recognising the criticality of the vehicle’s design.

“Emphasis was very much focused on technical innovation, rigorous use of design, analysis and simulation tools, in addition to controlled testing, with minimal budget.”

“The dream is now to work in the F1 industry!” he concluded.

Having previously only taken part in competitions to build smaller hybrid electric vehicles, the Abu Dhabi University team were proud to be part of a winning team for a project to build a car of this size and power. The team also enjoyed successfully putting theory into application by using the software learned as part of the course projects to analyse the F1 car.

Mahmut Gazi Bilikozen, Portfolio Director at Messe Frankfurt Middle East, the organiser of Automechanika Dubai, said: “Abu Dhabi University’s focus on enhancing performance and maximising efficiency speaks to the heart of discussions and displays in the Innovation4Mobility section of Automechanika Dubai. The alternate fuel vehicles, driving technologies, digitalisation, connectivity, and smart infrastructure being showcased make this zone a must-attend to explore the future of global mobility.”

The landmark 20^th edition of Automechanika Dubai, the largest international trade exhibition for the automotive aftermarket and service industry, will continue until 4 October at the Dubai World Trade Centre. (DWTC). Welcoming 1,938 exhibitors from 61 nations, the event will span 14 halls, showcasing a diverse range of innovative products, services and technologies in front of a global audience of 45,000.

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The World Health Organization (WHO) reports that nearly 1.5 billion people globally grapple with hearing loss. Of these, 430 million face disabling hearing challenges, a figure projected to rise to over 700 million by 2050. Addressing core issues faced by the Deaf community, such as communication barriers and accessibility in bookings and online reservations, the partnership is determined to bring about change. With the support of AAT’s innovative solutions, including an accessible booking platform and comprehensive sign-language support, Deaf guests can anticipate a more inclusive, accessible, and bespoke experience throughout their stay.

As part of this collaboration, The First Group, renowned for its upscale properties like The First Collection Business Bay, The First Collection at Jumeirah Village Circle, Wyndham Dubai Marina, and TRYP by Wyndham Dubai, will integrate AAT’s cutting-edge accessibility solutions with all its existing hospitality brands in Dubai.

The need for accessibility is evidenced by Expedia’s survey, where 92% of respondents emphasised the importance of travel providers catering to travellers’ accessibility requirements. Recognising this, AAT offers a unique platform where Deaf tourists using British Sign Language (BSL) can easily navigate, make reservations, and communicate their needs seamlessly. A Deaf traveller can smoothly go through and book rooms, check-in, and even request room service or emergency assistance all through AAT’s mobile application in BSL.

Established in 2005, The First Group hotels have welcomed guests from diverse countries, including the KSA, Oman, Qatar, Kuwait, Bahrain, the UK, Russia, France, the USA, and Italy. In 2022, the company’s homegrown hospitality brand, The First Collection, achieved a remarkable feat by being the only Dubai establishment to be recognised among the world’s finest hotels by Trip Advisor. Furthermore, The First Collection at Jumeirah Village Circle has secured an impressive position within the coveted ‘Top 10 Hotels in Dubai’ on Trip Advisor’s esteemed list, specifically claiming the noteworthy #5 spot.

“The First Group and Amsaan Accessible Tours share core values of inclusivity, diversity, and equal opportunities in hospitality for all. This common ethos creates a strong foundation for collaboration, ensuring that the partnership is mutually impactful. We are driven by our commitment to provide exceptional experiences to our guests, and we look forward to championing responsible tourism and reinforcing our dedication to state-of-the-art hospitality”, shared Karim Abdelhamid, Vice President of Hotel Operations at The First Group.

Oleksandr Koltsov, Chief Executive Officer of Amsaan Accessible Tours, added: “This partnership represents a monumental step forward in AAT’s mission to break down barriers for Deaf travellers. Our accessibility solutions will reach a wider audience of Deaf travellers, making a positive impact not only on individual guests but also on the broader hospitality industry. It should serve as a model for other hotels to follow suit in prioritising universal accessibility. With The First Group, we are reshaping the hospitality landscape with the power of innovation and technology, ensuring Deaf guests can explore the world with ease and confidence.”

AAT is poised for further expansion within the UAE and on a global scale, with future partnerships being explored with other hotels, tourist attractions, and even airlines.

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For this year’s challenge, participants were tasked with changing two tyres using industry-leading DaTotech equipment and tools. Speed was the name of the game, with the fastest three awarded at a special ceremony at the end of the competition.

The PitStop challenge was judged by expert panellists Aqil Al Janahi and Gurubasappa Basavaraju of the Dubai Government Workshop. The overall winner of the competition was Christian Cloppenburg from Schrauberblog GmbH, while the second and third spots were awarded to Ajaya Tamner from Easa Saleh Al Gurg Group and Numan Khalid from Super Fix Auto Centers, respectively.

Commenting on the competition, Mahmut Gazi Bilikozen, Portfolio Director at Messe Frankfurt Middle East, the organiser of Automechanika Dubai, said: “The PitStop challenge at Automechanika Dubai never fails to ignite the crowd with its electrifying action. This year’s event was no exception, as participants displayed a level of excellence that would undoubtedly leave even Formula 1 teams in awe. The atmosphere was nothing short of thrilling, creating an unforgettable experience for all involved.

“I’d like to extend my congratulations to all the winners! Their remarkable skills and dedication shone through, setting a standard of excellence that exemplifies the spirit of Automechanika Dubai. This event has once again proven that innovation and expertise are at the forefront of the automotive industry. Kudos to everyone who participated and made this year’s challenge an extraordinary success!”

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The event where the global multi-asset broker was awarded these prestigious awards was organised by Smart Vision Group at the luxury 5-Star Hotel Palazzo Versace Dubai, UAE.

“We extend our heartfelt gratitude for being honoured with the prestigious Top Trusted Broker and Top Global CEO award at the Middle East Financial Markets Awards Ceremony. This recognition is a testament to our unwavering commitment to excellence and the trust our clients place in us. The event, held on the 24th of September 2023 at the Palazzo Versace Dubai, marks a significant milestone in our journey to expand our presence across the Middle East, and we remain dedicated to upholding the highest standards in the financial industry.” commented Mohamad Ibrahim, Group CEO of XS.com.

Dr. Mohammed Elnozamy, Chairman and Managing Director at Smart Vision commented on allocating the award to the XS.com Group:

“As event organisers, we are pleased to have allocated the esteemed awards for Top Trusted Broker and Top Global CEO” to the XS.com Group. Their exceptional dedication to providing unparalleled services in the financial services and Fintech sector has not only set a benchmark but has also contributed to the advancement of the industry as a whole. The XS.com Group’s commitment to excellence is truly deserving of this Top Trusted Broker recognition, and we congratulate them on their well-deserved achievement.” 

The Middle East Financial Markets Awards Ceremony in Dubai is an important industry event. The award selects Fintech and financial services providers and brokers that service clients in the Middle East region, based on metrics such as number of active traders from the Middle East region, deposit volumes and trading volumes from these traders and range of trading instruments and account types offered to clients.

In addition to this quality of trading platforms are considered as well as tools and educational resources that are provided by brokers to their clients.

Finally, effectiveness of marketing and customer service for Middle Eastern clients and compliance with regulations and licensing for operating in Middle East countries is also taken under the spotlight.

The XS Group is delighted to be part of this stringent review process and proud to have been chosen as a winner amongst a long list of industry participants.

XS.com has recently been recognised with a range of awards that have recognised their mission to provide traders, institutional investors, and brokers worldwide with the opportunity to access profound institutional liquidity and cutting-edge trading technology. This is coupled with a seamless user experience, outstanding relationship management, and exceptional customer support.

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From its early beginnings as a GCC-based entity to its meteoric rise on the international stage, Related’s story is a compelling narrative of innovation and visionary leadership — at the heart of its journey has been an unshakable commitment to be at the vanguard of technological advancements in the customer experience, Loyalty and Rewards programs.

Rabih Farhat, founder and managing partner at Related, said: “I’ve always believed that innovation thrives at the intersection of vision and technology. With the burgeoning metaverse and Web 3.0 landscape, especially in regions like the UAE and the broader GCC, the future of customer engagement is being redefined. At Related, we’re not just observing this shift; we’re actively driving it. Our Reward 3.0 solution is a testament to our commitment to pioneering and harnessing technological advancements to elevate brand and customer interactions in this new digital age.”

According to a recent report by PwC Middle East, the metaverse’s transformative potential cannot be overstated: by 2024, The entire metaverse valuation is expected to inch close to a whopping $800 billion worldwide, with GCC countries at the forefront. Cities like NEOM in Saudi Arabia are integrating metaverse components into their developmental blueprints, and the UAE is establishing the Middle East’s inaugural metaverse incubator, paving the path towards a metaverse-driven economic surge in the region. By 2030, the metaverse could contribute a staggering $15 billion to GCC economies.

As part of its award-winning submission at DTW, Related and its esteemed partners built a one-in-all solution showcasing how mobile operators can play a greater role in the metaverse and sit at the core of the monetisation game in the new world of WEB 3.0/metaverse.

With a reputation for boosting customer engagement by 35%, increasing brand loyalty by over 15%, and achieving a 92% customer satisfaction score, Related’s focus has always been on creating moments of happiness across consumer’s journey with the brand. It has also been instrumental in redefining loyalty programmes and customer engagement across the GCC and the Middle East.

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