High-level sessions on smart cities, innovation, digital economy, and sustainability during AIM Congress 2025
Abu Dhabi, UAE – Among the numerous roundtables at AIM Congress 2025, global city leaders also gathered for the 'City Mayors' Roundtable: Global Digital Cooperation – Mayors Leading the Way,' a high-level dialogue focused on advancing digital transformation and smart city innovation. Berangere Boell, United Nations Resident Coordinator, emphasized the critical role of local leadership in driving global development while Tunbosun Alake, Honorable Commissioner for Innovation, Science & Technology from Lagos State Government, outlined Lagos's tech-driven transformation through a seven-pillar innovation plan, expanded digital infrastructure, and youth talent development. In unison, John-Charuk Saah Siafa, Mayor of Monrovia City Corporation, shared how Monrovia is digitizing its revenue systems, training youth in digital skills, and piloting smart waste management solutions to improve urban services and Amable de Jesús Hernández, Mayor of San Jose de Colinas, focused on expanding internet access, promoting digital education, and using technology to increase government transparency as part of Latin America's post-COVID recovery. Meanwhile, Tamraz Taghiyev, Chair of the National Association of City Municipalities of Azerbaijan, highlighted the importance of improving rural connectivity, advancing smart city initiatives, and ensuring strong alignment between local and national governments. Across the board, city leaders agreed that accelerating digitalization requires talent development, knowledge sharing, strong policy frameworks, and inclusive access.
Parallelly, Leaders in technology and innovation gathered for a powerful session on 'Leadership in Scaling Digital Economies – Reimagining Economic Creativity, Connected Industries, and Sustainable Societies.' Held under the Digital Economy portfolio, the discussion was moderated by Paul Hamilton (Ibtikar) and emceed by Zulf Hyatt-Khan (Council of Slovak Exporters) and the panelists explored AI's role in shaping inclusive, sustainable economies.
Key themes included the ethical use of AI, the urgency of upskilling, and the need for emotional intelligence in tech leadership. 'AI enables personalization at scale,' said Mohamed Emad (IBM MEA) while Charles Austen Angell (EPIRA.ai) added, 'We're not trying to create standardized intelligence—no two people think the same.'
Ajibola Odukoya (AfriLabs)urged, 'We must invest in ourselves and unlearn what we know,' highlighting agility as a path forward. Joseph Musolino (SAS Institute) called the current wave an 'AI renaissance,' cautioning against unchecked advancement. Nicola Bettio (Sharjah RTI Park) emphasized AI's power to democratize education, while Zulf Hyatt-Khan closed with a call for emotional intelligence and gender equity in tech. The message was clear that innovation must be human-centered to build a truly connected and sustainable digital future.
A Panel on Innovation and Entrepreneurship was also held discussing building Ecosystems for Impact. Moderated by Dr. Hashim Suleiman Hussein Mohamed, of UNIDO-ITPO Bahrain, this dynamic session spotlighted strategies to foster entrepreneurial success globally. Dr. Hussein introduced the Global Entrepreneurial Alliance, launched in January 2025, now active in 54 countries, and announced UNIDO's Global Call 2025, focused on youth-led, eco-friendly and digital innovations.
Dalal Alqais, CEO of Bahrain Development Bank, highlighted Bahrain's SME-friendly policies, including interest-free loans, women-focused programs like Riyadat, and the BHD 100 million Estimya Fund to help startups scale while Mohamed Aboud of the University of Dubai promoted the Triple Helix model and shared examples of university-to-startup transformations, including Saudi Arabia's billion-riyal Hajj innovation fund. Dr. Muhammad Sharif of ICESCO presented the 3A Model (Awareness, Acceptance, Action) and entrepreneurship programs reaching over 1,800 youth in 30+ countries, with a focus on clean tech and education and Fadi El-Din El-Maqboul, Plants Co. GM, emphasized four ecosystem pillars—infrastructure, policy, support, and culture—urging investment in local innovation with global potential.
On the other hand, a Fireside Chat titled 'Sustainability in Startups: Green Startups – A Cross Cutting Topic with Investing Perspective' brought critical attention to the role of startups in advancing environmental and social impact.
Moderated by Liz Krymalowski of Orbillion Bio, the session featured insights from Gilbert Ewehmeh, Continental Coordinator at Accelerate Africa, and Lindsay Miller, Managing Partner at MENA Moonshots. Both speakers emphasized the importance of green startups in emerging economies, particularly in Africa and the MENA region, where sustainable innovation directly addresses local challenges such as waste management, pollution, and economic inclusion.
'Sustainability is not just a buzzword—it's about building businesses that last, create real value, and benefit both people and the planet,' said Miller. Ewehmeh highlighted the need for cross-border collaboration to scale impact, stating, 'When Africa and MENA work together, we create a more resilient, interconnected innovation ecosystem.'
The discussion underscored that founders need supportive communities, inclusive policies, and investor backing to bridge the gap between long-term sustainability goals and short-term business pressures. With growing momentum, sustainable startups are poised to shape the future of regional economies.
Alongside the numerous insightful sessions and discussions held, The "AIM" Global Foundation concluded a series of high-level Memorandums of Understanding, reflecting their status as a catalyst for enhancing joint efforts among global partnerships and strategic economic cooperation. This affirms the success of the Summit and its ability to achieve its strategic objectives in enabling cross-border cooperation and shaping the future of global investment. Among the most prominent international entities and institutions with which Memorandums of Understanding were signed are: the American Chambers of Commerce, the Chamber of Commerce and Industry of St. Petersburg, the Business Support Foundation in the Sverdlovsk Region, the Eurasian Business Alliance, the International Chamber of Commerce in Kazakhstan (Atameken), the TMK Research and Development Foundation, the UAE-Russia Business Council, the Chambers of Commerce and Industry of the Ryazan and Tula regions, the Community Development Center in Armenia, the Chamber of Commerce and Industry of the Amur Region, the Chamber of Commerce and Industry of the Khabarovsk Region, the Investment Promotion Agency in the Krasnodar Region, and the Cheung Kong Graduate School of Business.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
20 hours ago
- Gulf Today
China's export growth slows last month as tariffs take toll
China's export growth slowed to a three-month low in May as US tariffs slammed shipments, while factory-gate deflation deepened to its worst level in two years, heaping pressure on the world's second-largest economy on both the domestic and external fronts. US President Donald Trump's global trade war and the swings in Sino-US trade ties have in the past two months sent Chinese exporters, along with their business partners across the Pacific, on a roller coaster ride and hobbled world growth. Underscoring the US tariff impact on shipments, customs data showed that China's exports to the US plunged 34.5 per cent year-on-year in May in value terms, the sharpest drop since February 2020, when the outbreak of the COVID-19 pandemic upended global trade. Total exports from the Asian economic giant expanded 4.8 per cent year-on-year in value terms last month, slowing from the 8.1 per cent jump in April and missing the 5.0 per cent growth expected in a Reuters poll, customs data showed on Monday, despite a lowering of US tariffs on Chinese goods which had taken effect in early April. 'It's likely that the May data continued to be weighed down by the peak tariff period,' said Lynn Song, chief economist for Greater China at ING. Song said there was still front-loading of shipments due to the tariff risks, while acceleration of sales to regions other than the United States helped to underpin China's exports. Imports dropped 3.4 per cent year-on-year, deepening from the 0.2 per cent decline in April and worse than the 0.9 per cent downturn expected in the Reuters poll. Exports had surged 12.4 per cent year-on-year and 8.1 per cent in March and April, respectively, as factories rushed shipments to the US and other overseas manufacturers to avoid Trump's hefty levies on China and the rest of the world. While exporters in China found some respite in May as Beijing and Washington agreed to suspend most of their levies for 90 days, tensions between the world's two largest economies remain high and negotiations are underway over issues ranging from China's rare earths controls to Taiwan. Trade representatives from China and the US are meeting in London on Monday to resume talks after a phone call between their top leaders on Thursday. China's imports from the US also lost further ground, dropping 18.1 per cent from a 13.8 per cent slide in April. Zichun Huang, economist at Capital Economics, expects the slowdown in exports growth to 'partially reverse this month, as it reflects the drop in US orders before the trade truce,' but cautions that shipments will be knocked again by year-end due to elevated tariff levels. China's exports of rare earths jumped sharply in May despite export restrictions on certain types of rare earth products causing plant closures across the global auto supply chain. The latest figures do not distinguish between the 17 rare earth elements and related products, some of which are not subject to restrictions. A clearer picture of the impact of the curbs on exports will only be available when more detailed data is released on June 20. China's May trade surplus came in at $103.22 billion, up from the $96.18 billion the previous month. Other data, also released on Monday, showed China's imports of crude oil, coal, and iron ore dropped last month, underlining the fragility of domestic demand at a time of rising external headwinds. Beijing in May rolled out a series of monetary stimulus measures, including cuts to benchmark lending rates and a 500 billion yuan low-cost loan programme, aimed at cushioning the trade war's blow to the economy. China's markets showed muted reaction to the data. The blue-chip CSI300 Index climbed 0.29 per cent and the benchmark Shanghai Composite Index was up 0.43 per cent. Producer and consumer price data, released by the National Bureau of Statistics on the same day, showed that deflationary pressures worsened last month. The producer price index fell 3.3 per cent in May from a year earlier, after a 2.7 per cent decline in April and marked the deepest contraction in 22 months. Cooling factory activity also highlights the impact of US tariffs on the world's largest manufacturing hub, dampening faster services growth as suspense lingers over the outcome of US-China trade talks. Retail sales growth slowed last month as spending continued to lag due to job insecurity and stagnant new home prices. These headwinds were evident in China's car sales for May, which grew 13.9 per cent year-on-year, slowing from a 14.8 per cent increase the previous month, data from the China Passenger Car Association showed. Sluggish domestic demand and weak prices have weighed on China's economy, which has struggled to mount a robust post-pandemic recovery amid a prolonged property slump and has relied on exports to underpin growth. Reuters
Gulf Today
2 days ago
- Gulf Today
Weekly jobless claims hit 7-month high; imports post record decline
The number of Americans filing new applications for unemployment benefits increased to a seven-month high last week, pointing to softening labour market conditions amid mounting economic headwinds from tariffs. The report from the labour Department also continued to show workers losing their jobs having a tough time landing new opportunities as uncertainty caused by President Donald Trump's aggressive trade policy leaves employers reluctant to increase headcount. The data included the Memorial Day holiday, which economists said could have caused difficulties with the seasonal adjustment and likely contributed to the second straight weekly increase in unemployment claims. Still, they said the report offered some evidence of labour market strains. 'We won't dismiss the rise in claims over the last two weeks, which may be signaling weakening labour market conditions in response to the Trump administration's tariff policies and uncertainty,' said Nancy Vanden Houten, lead US economist at Oxford Economics. 'However, seasonal quirks might have contributed to the rise in claims.' Initial claims for state unemployment benefits rose 8,000 to a seasonally adjusted 247,000 for the week ended May 31, the highest level since last October. Economists polled by Reuters had forecast 235,000 claims for the latest week. With the start of the school holidays this month, claims could remain elevated as some states allow non-teaching staff to collect benefits. There were notable rises in unadjusted claims in Kentucky and Tennessee, likely related to layoffs in the motor vehicle industry amid duties on imported parts. Claims surged in the prior week in Michigan, attributed to layoffs in the manufacturing industry. But companies are generally hoarding workers after struggling to find labour during and after the COVID-19 pandemic. The Federal Reserve's Beige Book report on Wednesday showed 'comments about uncertainty delaying hiring were widespread,' noting that 'all districts described lower labour demand, citing declining hours worked and overtime, hiring pauses and staff reduction plans.' It said while some districts reported layoffs in certain sectors, 'these layoffs were not pervasive.' Stocks on Wall Street were higher. The dollar was steady against a basket of currencies. US Treasury yields rose. The number of people receiving benefits after an initial week of aid, a proxy for hiring, slipped 3,000 to a seasonally adjusted 1.904 million during the week ending May 24, the claims report showed. The elevation in the so-called continuing claims aligns with consumers' ebbing confidence in the labour market. SLACKENING labour MARKET The claims data have no bearing on the labour Department's closely watched employment report for May, scheduled to be released on Friday, as it falls outside the survey period. Nonfarm payrolls likely increased by 130,000 jobs last month after advancing by 177,000 in April, a Reuters survey of economists showed. The unemployment rate is forecast being unchanged at 4.2%. 'A gradual but genuine slackening of the labour market is underway,' said Oliver Allen, senior US economist at Pantheon Macroeconomics. There was, however, some welcome news on the economy. A separate report from the Commerce Department's Bureau of Economic Analysis showed the trade deficit narrowed sharply in April, with imports decreasing by the most on record as the front-running of goods ahead of tariffs ebbed, which could provide a lift to economic growth this quarter. The trade gap contracted by a record 55.5% to $61.6 billion, the lowest level since September 2023. The goods trade deficit eased by a record 46.2% to $87.4 billion, the lowest level since October 2023. A rush to beat import duties helped to widen the trade deficit in the first quarter, which accounted for a large part of the 0.2% annualized rate of decline in gross domestic product last quarter. The contraction in the deficit, at face value, suggests that trade could significantly add to GDP this quarter, but much would depend on the state of inventories. 'The collapse in the trade gap, although unlikely to be sustained, points to a massive trade addition to GDP growth and, if the offset to the import swing is not measured in inventories, second-quarter measured GDP growth could be eye-popping, possibly in the area of 5%, but as meaningless as the first-quarter's decline in output,' said Conrad DeQuadros, senior economic advisor at Brean Capital. Imports decreased by a record 16.3% to $351.0 billion in April. Goods imports slumped by a record 19.9% to $277.9 billion, held down by a $33.0 billion decline in consumer goods, mostly pharmaceutical preparations from Ireland. Agencies
Arabian Post
3 days ago
- Arabian Post
From petrostate to deal state: Gulf IPO markets mature
Maein Khalid Since the pandemic, IPO activity across GCC capital markets has surged – offering a sharp contrast to the stop-start pace on New York's Nasdaq and the near standstill on London's LSE. Nearly 300 IPOs have raised around $50 billion across the Gulf since 2021. ADVERTISEMENT Below I outline six key macro themes shaping this post-Covid IPO boom in the GCC. First, contrary to expectations, the number, size and aftermarket performance of IPOs in the GCC have shown little correlation with oil prices. Since 2021 Brent crude has swung wildly, yet IPO momentum has remained resilient, even in hydrocarbons-heavy markets like Saudi Arabia. Second, the sheer variety of sectors that contributed to regional IPO deals demonstrates that non-oil growth, industry deregulation, private sector entrepreneurship and e-commerce are powerful macro themes in the Gulf. The two largest IPOs in the GCC last year were the $2 billion food delivery app Talabat's IPO, listed in Dubai's DFM, and the $1.8 billion Lulu hypermarket, a 50-year-old family-owned grocery chain listed on Abu Dhabi's ADX. ADVERTISEMENT Last year saw 48 IPOs from sectors as varied as grocery chains, software and IT services, e-commerce, education, healthcare, financial services, remittance solutions, leisure, transportation and real estate. Third, Saudi Arabian deal flow both dominated the IPO pipeline and dramatically outperformed its GCC peers in aftermarket trading. For instance, 38 out of the 48 deals in the GCC that raised $12.06 billion in 2024 originated from the kingdom, and the average aftermarket performance in the week following the IPO was a spectacular 45 percent. The kingdom's first three IPOs on the main market this year all went 'limit up', surging on their first day of trading by the maximum 30 percent allowed. It is no mistake that the first aviation IPO in the region in almost two decades – Flynas is seeking to raise $1.1 billion – is taking place in the kingdom. This is a testament to both the vast liquidity available in the Saudi new issue market and the magnetic power of the kingdom's junior exchange, Nomu, which saw 27 companies listed in 2024 alone. New listings on Nomu are typically domestic Saudi firms operating in high-growth sectors tied to the kingdom's digital transformation – highlighting a clear link between rising tech literacy among its youthful population and a growing appetite for high-risk, high-reward IPOs. Fourth, the GCC IPO constellation is dominated by Saudi Arabia and the UAE, with Oman a distant third. Saudi Arabia's 38 IPOs in 2024 dwarfed seven from the UAE, two from Oman and a solitary flotation in Kuwait. This spectacular asymmetry in the national origin of IPOs reflects the vast differences in the capital markets milieu, investor ecosystems and liquidity preferences among the six GCC states. Fifth, the recent IPO boom has attracted global investor interest in the Gulf's emerging capital markets, as sovereign wealth funds from the region have become a significant force in Wall Street and Silicon Valley deal-making. This trend will both broaden and deepen the GCC capital markets, evidencing that they are no longer an illiquid sideshow in the emerging markets universe. Historically the GCC IPO landscape was dominated by state-led privatisations and secondary offerings, with governments selling minority stakes in national champions. The most iconic example remains the 2019 Saudi Aramco listing – still the largest IPO in history – which raised $25.6 billion by selling just 1.5 percent of the company on Riyadh's Tadawul exchange. But the market has since evolved, moving beyond oil giants and into broader, more diversified territory. Saudi Aramco subsequently raised $12 billion in a secondary offering last year. These mega deals played a crucial role in the development of the kingdom's capital markets infrastructure and set the stage for the current bullish IPO environment. The UAE's role as the most diversified, cosmopolitan and networked economy in the Arab world can be gauged by the fact that it contributed to the two largest IPOs of 2024 – both private sector businesses with no connection to oil and gas or the government. The 2025 IPO of Bahrain-based Investcorp Capital marked a milestone for the region – positioning Abu Dhabi where it listed not just as an oil-rich emirate, but as a rising power in global finance. By listing a world-class alternative investment manager on the Abu Dhabi Securities Exchange, the UAE has shown it is no longer just deploying capital abroad – it's building the infrastructure to manage it at home. As a growing nexus for hedge funds and private capital, Abu Dhabi is fast becoming a noodle point in the global alternatives ecosystem. Mixed IPO outlook I predict the Saudi Arabian sovereign wealth fund PIF will midwife the next generation of privatisation IPOs in the kingdom, as it did with Saudi Aramco in 2019. But while the IPO market outperformance and the sheer scale of domestic liquidity flows make mega privatisation listings viable, the same cannot be said for smaller GCC states like Oman and Bahrain. Facing tighter fiscal constraints, their private investor base tends to favour quasi-debt, high-yield instruments issued by state-owned blue-chips over equity exposure. The sale of a 25 percent stake in OQ Gas Networks by Oman's state energy company suggests that it is problematic to engineer an IPO or even a state-owned energy colossus when oil prices are mired in a bearish downtrend. While the IPO marked a milestone for the Muscat bourse, it also revealed the limitations of investor appetite when crude prices are under pressure. Unlike Saudi Arabia's liquidity-fuelled listings, Oman's experience shows that timing – and broader market sentiment – can still make or break even the most strategic flotations. Also published on Medium. Notice an issue? Arabian Post strives to deliver the most accurate and reliable information to its readers. If you believe you have identified an error or inconsistency in this article, please don't hesitate to contact our editorial team at editor[at]thearabianpost[dot]com. We are committed to promptly addressing any concerns and ensuring the highest level of journalistic integrity.
