SABIC's growth projects progressing as planned: CEO
Saudi Basic Industries Corporation's (SABIC) growth projects are progressing according to plan, according to CEO Abdulrahman Al-Fageeh.
The projects include the Petrokemya Methyl Tertiary-Butyl Ether (MTBE) plant in Jubail and the SABIC Fujian petrochemical complex in China's Fujian province.
Additionally, SABIC commissioned the Ibn Zahr LTRS-1 project, which aims to enhance feedstock utilisation and reduce the carbon footprint, Al-Fageeh said in the company's first quarter 2025 financial statement.
The CEO ruled out tariffs' negative impact on global demand and customer preference for its product portfolio, Aragaam, an Arabic financial portal, reported.
(Editing by Anoop Menon) (anoop.menon@lseg.com)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
TECHx
an hour ago
- TECHx
AI Is Transforming Middle East Retail in Real Time
Home » Expert opinion » AI Is Transforming Middle East Retail in Real Time The retail sector in the Middle East, especially in the UAE, is undergoing a transformation. Competitive advantage now depends not only on pricing or location, but on how effectively businesses can harness artificial intelligence (AI) to drive smarter decisions. Across the Gulf, AI is moving from theoretical discussion to practical implementation, reshaping how retailers operate and engage with customers. According to IDC, AI spending across the Middle East, Türkiye, and Africa is forecast to grow from US$4.5 billion in 2024 to US$14.6bn by 2028, with retail among the top investment categories. In the UAE, where both digital transformation and consumer sophistication are advancing rapidly, retail businesses are already deploying AI to address persistent operational inefficiencies and unlock new revenue streams. Strategic Value Over Surface-Level Automation Retail AI isn't just about front-end novelty or automation, its real value lies in enabling strategic alignment across operations. By linking customer behaviour to inventory, logistics, marketing, and staffing in real time, AI is helping retailers in the UAE turn data into coordinated action. Leading businesses are now using AI to analyse high-volume inputs, from in-store traffic and online browsing to transaction histories, to build dynamic, integrated models that inform both daily decisions and long-term strategy. This shift to data-driven planning has transformed demand forecasting, one of retail's most cost-sensitive areas. In fast-moving sectors such as fashion and consumer electronics, where overstocking or markdowns can quickly erode margins, AI tools now allow forecasting by SKU, store, and even time of day, helping retailers adjust inventory and pricing with unprecedented precision. Local Intelligence at Scale The Middle East is not a one-size-fits-all retail market. Whether it is Dubai, Abu Dhabi, Riyadh or Doha, each city has distinct consumer dynamics. Success with AI in this region depends on models trained on local data that reflect linguistic diversity, cultural rhythms such as Ramadan and Eid, and fast-evolving consumer sentiment. Tailored language models for Arabic dialects are powering more intelligent customer interactions too, from smart service bots to real-time content personalisation. At the same time, machine learning is helping brands refine inventory strategies at a hyperlocal level, not just by city, but by district and demographic. The ability to scale AI while staying locally relevant is fast becoming a competitive differentiator for both regional players and global brands operating across the GCC. Supply Chain Efficiency and Cost Control Beyond customer experience, AI's most immediate value in the Middle East retail market lies in supply chain optimisation. With rising logistics costs and increasing competition, particularly from online-first players, bricks-and-mortar retailers are under pressure to streamline operations. AI enables predictive restocking, dynamic routing, warehouse automation, and even climate-based demand adjustments. For example, AI models trained on historic sales data and environmental inputs – such as weather or event calendars – can reduce waste in perishable goods or improve staff scheduling to match expected footfall. In the high-cost commercial environments of Dubai and Abu Dhabi, any reduction in operational friction has a direct impact on the bottom line. These gains also align with broader national strategies. The UAE's digital economy blueprint prioritises AI integration across key sectors, including retail. Smart logistics zones, free trade initiatives, and government-backed digital infrastructure create a supportive environment for AI-driven supply chain reform. Ethical Personalisation and Data Governance Personalisation is a well-established driver of customer satisfaction, but in the Middle East, where regulators are sharpening their focus on data security and digital ethics, how personalisation is delivered matters. AI systems must navigate both consumer expectations and compliance requirements, balancing relevance with transparency. Emerging retail AI models use anonymised behavioural data to drive recommendations, loyalty programmes, and engagement tactics without compromising individual privacy. More importantly, there is a growing recognition that personalisation must serve long-term customer relationships, not just short-term conversion goals. Regulatory frameworks such as the UAE's Federal Data Protection Law are setting the tone for responsible AI use in retail. Retailers that invest in compliance-aligned AI architectures will be better positioned to scale across the GCC, where trust and security are increasingly critical differentiators. Market Implications for Investors and Leadership For executive leadership and investors, the implications are clear: AI in retail is no longer experimental, it is infrastructure. Businesses that integrate AI at the core of their operations will gain measurable advantages, from increased revenue per customer to reduced operational overhead and faster time to market. In the UAE specifically, where consumer expectations are shaped by global benchmarks and supported by government-led innovation, AI capabilities will soon define the competitive landscape. This shift is already attracting capital into AI-aligned retail tech ventures and accelerating mergers between traditional retail groups and digital-native platforms. The transformation underway in Middle East retail is structural. Artificial intelligence is enabling better forecasting, leaner supply chains, and more intelligent customer engagement. Retailers that invest early in scalable, localised AI systems will both improve operational efficiency and secure a stronger strategic position as the region moves toward a data-driven economic model. In this environment, success will come to those who can move from insight to execution, one customer, one transaction, one decision at a time. By Daniel Wagner, CEO of Rezolve Ai
Sharjah 24
5 hours ago
- Sharjah 24
Sharjah's Al Qasimia University board discusses new strategy
International recognition for institutional excellence At the start of the meeting, held, on Wednesday, the board praised the university for obtaining international institutional accreditation from the UK-based Accreditation Service for International Schools, Colleges and Universities (ASIC). The four-year accreditation (2025–2029) recognises Al Qasimia University as a leading educational institution excelling in eight key areas: governance and management, quality assurance, information systems, research and teaching activities, programmes and qualifications, campus life and student welfare, occupational health and safety, and marketing and student recruitment. Tribute to the founder and patron On behalf of the board, Al Turaifi extended the deepest gratitude to His Highness Sheikh Dr. Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, for his unwavering support since the university's inception. He noted that the Ruler's vision has enabled the university to raise its global profile, enhance the quality of its academic services, attract students from around the world, and develop its programmes to equip graduates for meaningful contributions to their nations' progress. New strategic plan unveiled The board approved the university's new strategic plan for 2025–2030. Anchored in both national and international benchmarks, the strategy is built on key pillars: teaching and learning, scientific research, student and alumni development, governance and institutional effectiveness, and engagement with society and industry. The plan embodies the university's vision to serve as a multicultural academic beacon on the global stage. Annual report highlights wide-ranging achievements Prof. Dr. Awad Al Khalaf, the University Chancellor, presented the annual report, highlighting accomplishments across education, research, and community service. Key initiatives included the opening of 11 Quran memorisation schools in Ghana and Senegal under the direction of His Highness Sheikh Dr. Sultan Al Qasimi, as well as the launch of the pilot phase of "Mubeen", a digital Arabic language learning platform. The university also hosted several international scientific conferences, signed numerous cooperation agreements with local, regional, and global institutions, and expanded its academic offerings. To date, students from 130 nationalities have enrolled at the university. Enhancing student experience and academic leadership The board reviewed committee reports on resource development, academic affairs, student recruitment, and international relations. It approved a number of faculty promotions and endorsed new initiatives to enrich the academic experience. These included extracurricular programmes aimed at sharpening students' skills and preparing them to meet future challenges and serve their communities effectively. Approval of graduation for class of 2025 In conclusion, the board approved the graduation of the university's ninth cohort for the academic year 2024–2025. A total of 171 students successfully met graduation requirements across the five faculties: Sharia and Islamic Studies, Arts and Humanities, Economics and Management, Communication, and the Holy Quran.
Al Etihad
14 hours ago
- Al Etihad
‘A moment of pride': MBZUAI graduates represent new crop of global AI talent
29 May 2025 01:05 SARA ALZAABI (ABU DHABI)Year after year, the Mohamed Bin Zayed University of Artificial Intelligence (MBZUAI) continues to reach major milestones, reflecting the UAE's expanding AI footprint. This year, the university celebrated its largest and most diverse graduating class, with 104 students earning future-ready degrees.'We had our first UAE national PhD graduate, who is also a member of Dubai Police. We also had our first three female PhD graduates. So, it was quite the milestone for the university,' Prof. Timothy Baldwin, Provost of MBZUAI, told Aletihad on the sidelines of Wednesday's graduation university awarded PhD degrees to 13 graduates and master's degrees to 91 students. Among them were 20 Emiratis — the highest number of UAE nationals to graduate since the university's year's graduates represent a new generation of AI talent, specialising in three core areas: Computer Vision, Machine Learning, and Natural Language Processing.'Next year, we will also have our first robotics graduates,' Baldwin said. 'Every year is the largest because we're growing and growing.'Although more than 80% of MBZUAI's students hail from around the world, 80% of graduates choose to remain in the UAE—a testament to the university's global appeal and national impact, Baldwin students are 'gaining high-end AI skills and generating intellectual capital'—creating innovations ranging from Arabic language models to breakthroughs in healthcare, the university's provost said.'Our Jais large language models are now the most popular for Arabic. These are open-weight and aligned with our region's values—something foreign models do not offer,' he explained.'From Alzheimer's and brain tumour detection to low-cost ultrasound tools—we are improving both hospital outcomes and access for underserved communities.'The MBZUAI students are not just learning AI, Baldwin said, they 'help build the safeguards the world urgently needs.' The Work of MBZUAI GraduatesSalem Almarri, the MBZUAI's first Emirati PhD graduate in computer vision, conducted a study on real-time anomaly detection. He developed three methods to identify criminal activity in video. 'Being the first Emirati PhD graduate (in this field) carries weight—I must keep going. We are blessed with leadership that had this vision, and now it's our turn to do our part,' Almarri said. Asif Hanif, who researched AI trust and model vulnerabilities, vowed to pursue higher studies after earning his PhD in computer vision. Mohamed Ridzwan, a PhD graduate in machine learning, focused on AI for cancer prediction. "MBZUAI is a hub of knowledge and a catalyst for AI in the region. It is a privilege to be part of this ecosystem,' he said. Maryam Arjemandi, who completed her master's in computer vision, studied fetal ultrasound imaging using diffusion models. 'There is a big data gap in medical imaging, so I partnered with Corniche Hospital to create a private dataset and trained a model to generate realistic ultrasound images,' she told Aletihad. Her aunt, Munira, beamed with pride just listening to the new graduate explain her work. 'She is the first in our family to earn a master's degree. She told me it was her dream—and thank God, I saw that dream come true."Arjemandi urged those thinking about pursuing AI studies to 'just go for it'. 'The UAE is the third strongest country in AI. If you want to do AI, come here,' she said. Hassan Almarzooqi was a proud father of graduates Abdullah and Abdelrahman. "It is truly a moment of joy. They are our sons, but also sons of the nation."Abdelrahman said it was 'a moment of pride to graduate from the top AI university', while Abdullah highlighted the university's steadfast support. 'Everything you need is provided — you just have to work hard,' Abdullah said.
