logo
G42, First UAE Firm Recognized Among TIME's 100 Most Influential Companies - Middle East Business News and Information

G42, First UAE Firm Recognized Among TIME's 100 Most Influential Companies - Middle East Business News and Information

Mid East Info02-07-2025
Abu Dhabi, UAE – July, 2025: G42 has been named to TIME's 2025 list of the 100 Most Influential Companies, marking the first time a UAE-headquartered company has been featured. The recognition highlights G42's growing global impact in advancing AI responsibly and at scale.
From the company's pivotal role in the launch of Stargate UAE and the 5GW UAE-US AI Campus to its expansion into Europe and the UK , G42 is building the 'Intelligence Grid,' its vision of AI as a universal utility that is secure, scalable, and accessible.
'We are thrilled to be featured by TIME. This recognition affirms our mission to bring AI to everyone, not just a privileged few,' said Faheem Ahamed, Group Chief Marketing and Communications Officer at G42. 'It validates the role we're playing in shaping a more inclusive and connected AI future.'
With a portfolio spanning Space42 , Core42 , Khazna , M42 , Presight , CPX , and Inception , G42 operates across the full AI value chain, driving transformation across healthcare, energy, finance, mobility, and space.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Lithuania Pledges €30 Mln for Patriot Missile Systems for Ukraine
Lithuania Pledges €30 Mln for Patriot Missile Systems for Ukraine

See - Sada Elbalad

timea day ago

  • See - Sada Elbalad

Lithuania Pledges €30 Mln for Patriot Missile Systems for Ukraine

Israa Farhan Lithuania has committed €30 million towards the procurement of US-made Patriot air defense systems for Ukraine, marking a significant contribution to Western-led efforts to strengthen Kyiv's defense capabilities against ongoing Russian aggression. The announcement was made by Lithuanian Defense Minister Dovile Sakaliene following a high-level meeting in which defense chiefs from the Baltic states convened with US Secretary of Defense Pete Hegseth. The funds will support a joint initiative to acquire advanced anti-aircraft missile systems from the United States. The pledge signals alignment with US President Donald Trump's position that further weapons deliveries to Ukraine will be contingent on European nations financing such efforts. The Patriot missile systems, known for their high-precision interception capabilities, are expected to enhance Ukraine's ability to counter aerial threats, including missile and drone attacks. Under the initiative, NATO will oversee the coordination of logistics and delivery. The United States has confirmed plans to transfer 17 Patriot units as part of this multinational defense effort. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Sports Get to Know 2025 WWE Evolution Results News "Tensions Escalate: Iran Probes Allegations of Indian Tech Collaboration with Israeli Intelligence" Arts & Culture Hawass Foundation Launches 1st Course to Teach Ancient Egyptian Language

Space42 Secures $695.5 Million Facility to Fund Next-Generation UAE Satellites - Middle East Business News and Information
Space42 Secures $695.5 Million Facility to Fund Next-Generation UAE Satellites - Middle East Business News and Information

Mid East Info

time5 days ago

  • Mid East Info

Space42 Secures $695.5 Million Facility to Fund Next-Generation UAE Satellites - Middle East Business News and Information

Al Yah 4 and Al Yah 5 satellites to enhance sovereign communications capabilities across Middle East, Africa, Europe and Asia Space42 advances four-pillar growth strategy to establish critical connectivity capabilities across multiple orbits Abu Dhabi, UAE, July, 2025: Space42 , the UAE-based AI-powered SpaceTech company that seamlessly integrates satellite communications, geospatial analytics, and artificial intelligence capabilities with global reach, and listed on the Abu Dhabi Securities Exchange ('ADX', under symbol: SPACE42, ISIN: AEE01122B228), today announced the signing of a $695.5 million Export Credit Agency (ECA)-backed financing facility to fund the development of its next-generation geostationary satellites, Al Yah 4 and Al Yah 5. The financing represents a pivotal step in Space42's strategy to establish critical connectivity capabilities across multiple orbits. The facility, arranged by Crédit Agricole CIB, Santander CIB, Societe Generale, and Natixis and backed by Bpifrance Assurance Export, demonstrates the company's continued appeal to leading international banks and will fund the satellites scheduled for launch in 2027 and 2028. The facility provides Space42 with cost-effective, long-term financing aligned with its satellite development timeline, whilst strengthening the company's liquidity position to support future growth initiatives. 'The Al Yah 4 and Al Yah 5 program is underpinned by a 17-year, $5.1 Billion Government contract commencing in 2026 and advances our goal to become the trusted leader in secure connectivity by providing multi-path critical connectivity solutions,' said Andrew Cole, Chief Financial Officer of Space42. 'This strategic pillar focuses on enhancing secure communication capabilities across defense and civil domains through multi-orbit satellite networks that ensure uninterrupted connectivity for mission-critical applications. The ECA financing structure optimizes our cost of funding and provides increased financial flexibility to execute our growth agenda.' Advanced Satellite Capabilities: Al Yah 4 and Al Yah 5 feature software-defined architecture with fully flexible payloads that can be reconfigured in orbit. This technology enables real-time optimization of coverage, bandwidth, and frequency allocation to meet evolving operational requirements across the Middle East, Africa, Europe, and Asia. The satellites will complement and eventually replace Al Yah 1 and Al Yah 2, launched in 2011 and 2012 respectively. About Space42: Space42 (ADX: SPACE42) is a UAE-based AI-powered SpaceTech company that integrates satellite communications, geospatial analytics and artificial intelligence capabilities to enlighten the Earth from space. Formed in 2024 by the successful merger of Bayanat and Yahsat, Space42's global reach allows it to address the rapidly evolving needs of its customers in governments, enterprises, and communities. Space42 comprises two business units: Yahsat Space Services and Bayanat Smart Solutions. Yahsat Space Services focuses on upstream satellite operations for both fixed and mobility satellite services. Bayanat Smart Solutions integrates geospatial data acquisition and processing with AI to inform decision-making, enhance situational awareness, and improve operational efficiency. Major shareholders include G42, Mubadala, and IHC. Legal Notice and Cautionary statement regarding forward-looking information: This announcement may include forward-looking statements, which are based on current expectations and projections about future events. These statements may include, without limitation, words such as 'expect', 'will', 'looking ahead' and any other words and terms of similar meaning. These forward-looking statements are subject to risks, uncertainties and assumptions about the Company and its subsidiaries and its investments and speak only as of the date of this announcement. Forward-looking statements are based on assumptions of future events and information currently available to the Company which may not prove to be accurate, and the Company does not accept any responsibility for the accuracy or fairness thereof and expressly disclaims any obligation to update any such forward-looking statement. No representation or warranty is made so that any forward-looking statement will come to pass. You are therefore cautioned not to place any undue reliance on forward-looking statements. Neither this announcement nor anything contained herein constitutes a financial promotion, or an invitation or inducement to acquire or sell securities in any jurisdiction.

UAE and Hungary strengthen partnership to support families and drive social innovation - Middle East Business News and Information
UAE and Hungary strengthen partnership to support families and drive social innovation - Middle East Business News and Information

Mid East Info

time5 days ago

  • Mid East Info

UAE and Hungary strengthen partnership to support families and drive social innovation - Middle East Business News and Information

The UAE Ministry of Family and the Hungarian Ministry of Culture and Innovation signed a cooperation agreement. Dubai, UAE -July 2025 – The United Arab Emirates and the Republic of Hungary have strengthened their bilateral relationship with a cooperation agreement signed by the UAE Ministry of Family and the Hungarian Ministry of Culture and Innovation, with an aim to widen cooperation on family policy, cultural development, social innovation, and youth empowerment. This cooperation forms part of the two countries' shared commitment to supporting the family, prioritising it as the key pillar of the community, social cohesion, and sustainable development. UAE Minister of Family Her Excellency Sana bint Mohammed Suhail asserted that the cooperation agreement with the Hungarian Ministry of Culture and Innovation is a pivotal step towards promoting the role of the family as a building block for cohesive and sustainable communities. 'This partnership underscores our dedication at the Ministry of Family to sharing knowledge and best practices with our international partners, in order to support policies that empower families and promote the health and wellbeing of all family members – and particularly, the youth,' H.E. the Minister added. 'Our cooperation with Hungary will facilitate our efforts to launch innovative initiatives rooted in our culture and social values. It is set to open up new prospects for collaboration in early childhood education and parent empowerment, which, in turn, lays the foundations for inclusive and sustainable development in both countries.' For his part, H.E. Balázs Hankó, Hungarian Minister of Culture and Innovation, said: 'Hungarian society takes pride in the fact that, despite all the challenges and developments in today's world, we continue to uphold the belief that the family is the cornerstone of the entire community. We also believe in the importance of the extended family and intergenerational bonds built on mutual respect and sharing. These are values that we share with the United Arab Emirates, and that will serve as the basis for our efforts to strengthen ties between our two nations.' 'At the same time, Hungary has a national vision to become an advanced digital and industrial state,' H.E. Hankó continued. 'However, we are facing demographic challenges, and with that in mind, we look forward to exchanging expertise with our counterparts in the UAE – a country that has become a regional and global model in supporting families and promoting social innovation. This is a strategic priority for us, not merely a short-term step.' A Strong Family for a Cohesive Society: The collaboration agreement between the UAE Ministry of Family and the Hungarian Ministry of Culture and Innovation, aims to facilitate the exchange of knowledge and expertise between the two partners in all areas related to family policy, social initiatives, and cultural activities. It reflects a shared vision that prioritises strengthening family bonds, ensuring balance between work and family life, and strengthening intergenerational relationships, which helps build stronger and more cohesive societies. The agreement seeks to launch initiatives targeting the youth and designed to support family values among them, foster intergenerational dialogue, and explore innovative solutions to contemporary family issues. Cooperation also includes organising joint research projects bringing together specialised institutions from both countries to focus particularly on topics such as family statistics and shifting social roles. Moreover, the agreement aims to empower parents by developing support systems, flexible policies, and family-friendly work environments. In addition to developing a clear roadmap toward increasing parental awareness through comprehensive and sustainable programmes. Advancing Knowledge Exchange: The partnership's execution framework includes hosting joint seminars, conferences, and policy discussions, as well as delegations and expert visits. It also involves the creation of collaborative research projects, awareness campaigns, study tours, and training programmes designed to develop the skills of professionals working in related social and cultural fields. The three-year renewable collaboration is a testament to both parties' sincere desire to build a long-term relationship that benefits families and the community. The agreement presents a practical framework that embodies a shared commitment to building bridges for constructive collaboration and knowledge sharing, which, in turn, serves the interests of both countries. Furthermore, the agreement reflects the shared vision between the UAE and Hungary to build prosperous societies that place families at their core, prioritising innovation and cultural integration as an engine towards a more inclusive and stable future. Previous article KEY4 combines the expertise of both organisations to design, produce, and deliver advanced defence and security solutions to local and global customers Abu Dhabi, UAE: 23 July 2025 – EDGE, one of the world's leading advanced technology and defence groups, and Pavo Group, an Istanbul-based technology company specialising in defence and security, public safety, communications, and digital technologies, have launched KEY4, a groundbreaking joint venture in critical defence and security technologies. Headquartered in Abu Dhabi, KEY4 will serve as a platform for the joint development of advanced defence and security solutions supporting both UAE priorities and global partner needs. The announcement was made during a ceremony at the International Defense Industry Fair (IDEF) 2025, held at the Istanbul Expo Center from 22 to 27 July, and was signed by Omar Al Zaabi, President of Trading & Mission Support at EDGE Group, and Ali Özer, Chief Strategy Officer at Pavo Group. Omar Al Zaabi, President – Trading & Mission Support, EDGE, said: 'KEY4 represents a strategic extension of EDGE's capability to deliver mission-critical, sovereign defence and security solutions in collaboration with trusted international partners. This joint venture reflects our commitment to deepening industrial capabilities, accelerating technology development, and transferring specialised expertise into operational advantage. By addressing specific and evolving client needs, across cybersecurity, electronic warfare, artificial intelligence (AI), and secure systems, KEY4 will play a central role in advancing the UAE's defence ecosystem and strengthening its position as a reliable contributor to global security and stability.' Serkan Altınışık, CEO of Pavo Group, said: 'This joint venture with EDGE Group represents a powerful alignment of vision and capability between two forward-looking defence technology leaders. Together, we are combining Türkiye's engineering excellence and EDGE's disruptive innovation to deliver sovereign, next-generation solutions that address the increasingly complex challenges faced by our partners across the region and beyond. This partnership underscores Pavo Group's commitment to fostering strategic collaborations that enhance interoperability, strengthen resilience, and shape the future of defence ecosystems.' KEY4 brings together the sovereign capabilities and advanced technical expertise of EDGE and Pavo Group across a wide range of critical domains. These include cryptography, cybersecurity, secure communications, interception systems, electronic warfare, AI and machine learning for defence, big data analytics, command and control, data centres, integrated border security, smart surveillance, avionics, aerospace engineering, electro-optics, chemical, biological, radiological, and nuclear (CBRN) solutions, and system design and prototyping. ENDS About EDGE Launched in November 2019, the UAE's EDGE is one of the world's leading advanced technology groups, established to develop agile, bold and disruptive solutions for defence and beyond, and to be a catalyst for change and transformation. It is dedicated to bringing breakthrough innovations, products, and services to market with greater speed and efficiency, to position the UAE as a leading global hub for future industries, and to creating clear paths within the sector for the next generation of highly-skilled talent to thrive. With a focus on the adoption of 4IR technologies, EDGE is driving the development of sovereign capabilities for global export and for the preservation of national security, working with front-line operators, international partners, and adopting advanced technologies such as autonomous capabilities, cyber-physical systems, advanced propulsion systems, robotics and smart materials. EDGE converges R&D, emerging technologies, digital transformation, and commercial market innovations with military capabilities to develop disruptive solutions tailored to the specific requirements of its customers. Headquartered in Abu Dhabi, capital of the UAE, EDGE consolidates more than 35 entities into six core clusters: Platforms & Systems, Missiles & Weapons, Space & Cyber Technologies, Trading & Mission Support, Technology & Innovation, and Homeland Security.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store