The Finance World Magazine| Edition: March 2023
The March edition of The Finance World Magazine (TFW) delves into the Zayed Ambition 2 project, which strives to investigate the feasibility of leveraging the UAE's burgeoning space economy for sustainable development. This initiative showcases the country's commitment to diversifying its economy and reducing its reliance on oil. In a featured interview, CEO Shaaista Khan Osman and Managing Director Osman Osman of Blu Blood share their insights about the event management industry in the UAE. This issue also includes insights from Sridhar Vembu, CEO of Zoho Corporation, on emerging AI tools, along with some advice for SMEs and startups. Through this edition, we also bring you insights on topics like the UAE's steadfast dedication to sustainable growth and development, Dubai surpassing global and regional tourism recovery levels, the sports industry emerging as a promising sector magnetizing international investors, and many more key informational articles in the finance sector. Keep yourself up to date with all financial sector news with our current news segments. Each person can find something unique from us. We believe our readers deserve real value from what we have to offer.
The March edition of The Finance World Magazine (TFW) delves into the Zayed Ambition 2 project, which strives to investigate the feasibility of leveraging the UAE's burgeoning space economy for sustainable development. This initiative showcases the country's commitment to diversifying its economy and reducing its reliance on oil.
In a featured interview, CEO Shaaista Khan Osman and Managing Director Osman Osman of Blu Blood share their insights about the event management industry in the UAE. This issue also includes insights from Sridhar Vembu, CEO of Zoho Corporation, on emerging AI tools, along with some advice for SMEs and startups.
Through this edition, we also bring you insights on topics like the UAE's steadfast dedication to sustainable growth and development, Dubai surpassing global and regional tourism recovery levels, the sports industry emerging as a promising sector magnetizing international investors, and many more key informational articles in the finance sector.
Keep yourself up to date with all financial sector news with our current news segments. Each person can find something unique from us. We believe our readers deserve real value from what we have to offer.
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Energy News<br />
Saudi Aramco invests in the future with major<br />
deals at LEAP23<br />
At the recent LEAP23 conference,<br />
Saudi Aramco made a strong<br />
statement about its commitment<br />
to innovation and the future<br />
of technology. <strong>The</strong> oil and gas giant<br />
struck major deals with Zoom, the<br />
popular video conferencing platform,<br />
and Wa’ed Ventures, the investment<br />
arm of the kingdom’s labor ministry.<br />
<strong>The</strong>se deals will help Saudi Aramco<br />
stay at the forefront of technology and<br />
enhance its offerings to customers. <strong>The</strong><br />
Zoom deal will allow the company to<br />
integrate the platform into its existing<br />
communication infrastructure, while<br />
the Wa’ed Ventures deal will provide<br />
access to a network of startups and<br />
tech companies. <strong>The</strong>se investments<br />
demonstrate Saudi Aramco’s willingness<br />
to adapt and evolve in a rapidly changing<br />
business landscape.<br />
Dubai’s Soaring<br />
Population Leads to<br />
5.5% Energy Surge<br />
Dubai’s rapidly growing population<br />
has resulted in a 5.5%<br />
increase in energy consumption,<br />
putting pressure on the<br />
city’s infrastructure and resources.<br />
This trend is expected to continue as<br />
the population continues to grow and<br />
the demand for energy services such<br />
as electricity, water, and gas increases.<br />
<strong>The</strong> government of Dubai has been<br />
proactive in addressing this challenge<br />
and is investing in renewable energy<br />
solutions to meet the growing demand<br />
for energy. <strong>The</strong> city has set a target to<br />
produce 75% of its total energy from<br />
clean sources by 2050, which will help<br />
to reduce its carbon footprint and<br />
ensure a sustainable energy future for<br />
its residents. Dubai is also exploring<br />
innovative solutions such as smart<br />
grid technology and energy-efficient<br />
buildings to maximize energy efficiency<br />
and reduce waste.<br />
Saudi Aramco’s $7.2B<br />
Deals to Revitalize the<br />
Kingdom’s Economy<br />
Saudi Aramco, the state-owned<br />
oil company of Saudi Arabia, has<br />
signed several deals worth $7.2B<br />
to boost the Kingdom’s economy<br />
and diversify its revenue streams. <strong>The</strong><br />
deals include partnerships with leading<br />
international companies in sectors such as<br />
energy, petrochemicals, and technology.<br />
This investment is expected to create job<br />
opportunities, drive economic growth,<br />
and support the country’s wider economic<br />
diversification efforts. <strong>The</strong> Kingdom<br />
is also making significant investments<br />
in renewable energy, with the goal of<br />
reducing its dependence on oil and<br />
transitioning to a more sustainable energy<br />
mix. <strong>The</strong>se deals demonstrate Saudi<br />
Aramco’s commitment to supporting<br />
the development of the Kingdom and its<br />
vision of a sustainable future.<br />
ADNOC Propels UAE’s<br />
Manufacturing Industry<br />
with $4.63B Deals<br />
<strong>The</strong> Abu Dhabi National Oil<br />
Company (ADNOC) has recently<br />
made a significant investment<br />
in the manufacturing sector of<br />
the United Arab Emirates (UAE) with<br />
a series of deals worth $4.63B. <strong>The</strong>se<br />
deals aim to enhance the country’s<br />
manufacturing capabilities and position<br />
it as a global leader in key industries.<br />
This investment is expected to drive<br />
the growth of the local economy, create<br />
jobs, and support the UAE’s wider<br />
economic diversification efforts. <strong>The</strong><br />
deals include partnerships with leading<br />
international companies in areas such as<br />
petrochemical manufacturing, advanced<br />
materials, and technology solutions.<br />
Dubai Powers Up with<br />
$2.2B Investment<br />
in Local Electricity<br />
Projects<br />
Dubai has recently announced<br />
a $2.2B investment in local<br />
electricity projects, aimed at<br />
enhancing the city’s energy<br />
infrastructure and ensuring a reliable<br />
supply of power to its residents. This<br />
investment demonstrates Dubai’s<br />
commitment to maintaining its position<br />
as a leader in sustainable development<br />
and improving the quality of life for<br />
its residents. <strong>The</strong> funds will be used<br />
to upgrade existing power stations,<br />
build new ones, and develop renewable<br />
energy sources such as solar and<br />
wind power. <strong>The</strong> city is also exploring<br />
innovative solutions such as smart<br />
grid technology to optimize energy<br />
efficiency and reduce waste. This<br />
investment is expected to create job<br />
opportunities, drive economic growth,<br />
and support the government’s efforts<br />
to transition to a more sustainable<br />
energy mix.<br />
44 www.thefinanceworld.com <strong>March</strong> <strong>2023</strong>