Latest news with #AbuDhabi-headquartered
Newsweek
2 days ago
- Health
- Newsweek
How the Future of AI Health Care is Taking Shape in the Middle East
Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. For a look at how the health care of the future will be shaped by artificial intelligence and data, Abu Dhabi is a good start. The genetic makeup of most of the local population has been sequenced, allowing anyone's high risk of disease to be detected — and action to be taken — long before symptoms appear. Apps help patients navigate their care, with plans underway to connect them to everything from data delivered by wearable devices to medical records as well as to their doctors. "We use AI to predict conditions and improve medical outcomes and by improving outcomes, we're reducing hospitalization costs, reducing costs for the system," said Dimitris Moulavasilis, the chief executive of M42, a global health care company headquartered in the capital of the United Arab Emirates that underpins the health system there and is expanding rapidly abroad. "We're using genomics data to create population programs, which, again predict conditions, keep people healthy and we are using digital to organize health systems." "I think there is a wish across the globe that we should be able to improve the care delivered and reduce the cost. So how we can move from a reactive, episodic sick care where we are today." Dimitris Moulavasilis, CEO of Abu Dhabi-headquartered global health company M42 Dimitris Moulavasilis, CEO of Abu Dhabi-headquartered global health company M42 Courtesy of M42 Moulavasilis noted that health care costs vary from 7 to 8 percent of GDP in Eastern Europe to as high as 17 percent in the United States, but the costs are growing faster than economic growth rates everywhere. He said some of the biggest beneficiaries of data-driven and AI-powered health care would be in the less wealthy countries of the Global South that are starting from a lower base and can build their health systems in a more effective way. Personalized Treatments "Data plays a role as AI allows for personalized treatments, which allows patients to get treated, or you may predict conditions and patients might not get sick, and you can avoid the potential disease before it happens," he said, adding that it was also important considering increasing longevity. "People want to have a longer health span, not necessarily 200 years, but to live healthily until the end of their biological lives." M42 is already the largest health care group in the Middle East and serves some 15 million patients worldwide with operations in 27 countries. Its revenues have grown five times in the past seven years. M42 highlights examples of specific patients who have already been helped — such as a 40-year-old Emirati woman who was identified as having a 100 percent chance of thyroid cancer because of a gene mutation. She was treated straight away. Then there was the eight-year-old with vision loss, which was again pinned down to a gene mutation and treatment provided. "In Abu Dhabi, we have digitalized all the system. Digitalizing the system is not just applying some technologies, it is designing the systems and applying them. We are the engine behind the health information exchange," Moulavasilis said. M42 has an advantage being based in a center with a commitment to high-tech investment and to becoming a base for research, as well as with possibly the world's most extensive genome program by percentage of people covered — with more than 800,000 of 1.3 million Emiratis already sequenced and the number rising quickly. M42 runs the program in partnership with the Department of Health. Danat Al Emarat Hospital in Abu Dhabi Danat Al Emarat Hospital in Abu Dhabi M42 "They have the metrics, the people, the sophistication, and they are embracing all these new technologies, so we may try to deploy new models of care here, which then, upon the proof of the efficiency and outcomes we may expand globally," Moulavasilis said. "Because we have now all these amazing data sets, we have developed a trusted research environment that with the right privacy for the patient and keeping the data in a sovereign environment, we can extract insights and we can make collaborative research with pharma companies to create new targeted drugs and create new value from the life science space," Moulavasilis said. Genome Database For its genome database, it is recruiting patients across different sectors and genders to make its data sets fully representative, with models trained on different nationalities. At the same time, respect is paid to protecting individuals' and countries' rights to data privacy. M42's operations extend much further than Abu Dhabi. Through acquisitions and organic growth, it now has more than 480 facilities in 26 countries and over 20,000 employees. It foresees annual growth in the future at around 8 to 10 percent. Although M42 is not yet in the United States, it is investigating opportunities for investment there. It is already in most European countries and has a significant presence in Latin America, including Brazil and Chile. It also has a major presence close to home in Saudi Arabia and the Gulf countries. In Uzbekistan, it is collaborating and exploring opportunities for a strategic partnership on the Uzbek Genome Program. "The Global South really is an important space for expansion," Moulavasilis said, particularly after the acquisition of kidney-care provider Diaverum. "We are in discussion with many countries, particularly the Global South." M42's biggest challenge is not technology, it is human nurses and physicians, Moulavasilis said. There again, however, AI helps all to work more effectively. "As the population grows and ages, there's a big amount of nurses who the global national health systems lack today," he said. "Now we're privileged to be perceived as employees of choice because of the use of digital and AI, so nurses can be always very much productive, focusing what they are trained to do like provide care, as opposed to liaise with all the bureaucratic and the routine, non-valuable, mundane activities."
Al Etihad
4 days ago
- Business
- Al Etihad
Presight signs MoU with Tajikistan to advance national AI strategy
21 July 2025 18:59 DUSHANBE (ALETIHAD)Presight, the Abu Dhabi-headquartered AI and big data analytics company, has signed a non-binding Memorandum of Understanding (MoU) with the Ministry of Industry and New Technologies of the Republic of Tajikistan to support the country's ambitions in artificial agreement was formalised during the Tajikistan-UAE Business Forum in Dushanbe, attended by UAE Minister of Economy Abdulla bin Touq Al Marri and UAE Ambassador to Kazakhstan Dr. Mohammed Saeed Al Ariqi. Representing the Tajik side was Sherali Kabir, Minister of Industry and New Technologies, while Maxat Koshumbayev, Regional Director for Central Asia, signed on behalf of MoU sets out a strategic collaboration aimed at developing Tajikistan's AI ecosystem through innovation, infrastructure, and talent development. It includes plans to pilot AI-powered government and enterprise solutions across priority sectors such as smart cities, energy, and Kabir, Minister of Industry and New Technologies of Tajikistan, said: 'We are excited to engage with Presight on furthering Tajikistan's AI ecosystem. Our nation has pioneered the full supply chain of AI—from green AI compute to frontier synthetic data applications and introduction of AI in the school curriculum. We view Presight as a strategic AI partner for Area AI, our global AI technopark, with plans for joint AI deployments in smart cities, industry and infrastructure.'Commenting on the agreement, Presight's Maxat Koshumbayev said:'Presight is proud to support Tajikistan's national AI strategy leveraging Presight's global expertise through innovation, infrastructure and talent development. We believe this collaboration will bring lasting value to the country's digital future and contribute to regional technological development.'As part of the agreement, a joint working group will be formed to coordinate pilot projects, oversee the transfer of technologies, and explore broader AI-driven innovations. The partnership also includes plans to implement AI-based operational solutions for key infrastructure, including Dushanbe International Airport. The MoU highlights the growing economic and technological ties between Tajikistan and the UAE, and reflects Presight's wider strategy to support digital transformation across Central Asia.
Fintech News ME
24-06-2025
- Business
- Fintech News ME
UAE Poised to Become MENA's Stablecoin Powerhouse
The United Arab Emirates (UAE) is poised to become a regional leader in digital assets and stablecoin adoption. This is supported by progressive regulation, robust digital infrastructure, and booming crypto usage, according to a new report by PwC and Abu Dhabi-headquartered digital assets infrastructure provider Fuze. The report, released in May, looks at the state of digital asset and stablecoin adoption in MENA, highlighting the UAE's growing prominence, and sharing emerging trends and opportunities. According to the report, the UAE ranks third in digital asset transaction volume in MENA, with US$34 billion recorded in the year ending June 2024 and a 30% adoption rate. It follows Turkey with US$170 billion and a 52% adoption rate, and Saudi Arabia with US$47 billion and a 20% adoption rate. In addition to an active crypto market, the UAE also benefits from forward-thinking regulators. In particular, the Payment Token Services Regulation, introduced by the Central Bank of the UAE (CBUAE) and effective from August 2024, establishes a comprehensive framework for regulating stablecoins and payment token services. The regulation mandates licensing for issuers, distributors, and custodians, and requires full fiat reserve backing, par value redemption, as well as adherence to strict governance, risk, and anti-money laundering (AML) and countering the financing of terrorism (CFT) standards. Though compliance to the Payment Token Services Regulation is complex and resource-intensive, the regulation delivers increased credibility and long-term growth potential for firms able to meet its high standards. It's also significant because it represents a formal acknowledgment and acceptance of digital tokens intended to be used as payment instruments. CBUAE's Payment Token Services Regulation, paired with licensing regimes from Dubai's Virtual Asset Regulatory Authority (VARA), the Financial Services Regulatory Authority (FSRA), and the Dubai Financial Services Authority (DFSA), are positioning the UAE as the leading jurisdiction for the development and adoption of payment tokens, particularly dirham-denominated ones. This progress is underscored by a number of recent developments. In December 2024, AE Coin secured the final approval from the CBUAE, becoming the first fully licensed dirham-backed stablecoin in the UAE. AE Coin aims to provide an instant, secure, stable, innovative, low-cost, and efficient payment method designed for the digital economy. In February 2025, DFSA approved Circle's USDC and EURC stablecoins as recognized crypto tokens. The development marked the first instance of stablecoins being approved under the DIFC's crypto token regime, allowing USDC and EURC to be incorporate into digital asset services, payments, treasury management, and other financial applications. Most recently, Abu Dhabi sovereign wealth fund ADQ, conglomerate IHC, and the UAE's biggest lender by assets First Abu Dhabi Bank (FAB), unveiled plans to launch a new stablecoin backed by dirhams. The stablecoin, which will be fully regulated by the UAE's central bank, will be issued by FAB subject to regulatory approval, the organizations said. The potential of stablecoins in MENA In the UAE and the broader MENA region, stablecoins and payment tokens hold significant potential to enhance financial services by enabling faster and cheaper cross-border payments, more efficient treasury operations, and the development of new, innovative financial products. The UAE, a leading financial and trade hub, is expected to benefit from stablecoin-powered cross-border payments. These digital assets have the potential to streamline international payments by offering near-instant transfers at lower costs than traditional SWIFT channels, while maintaining compliance with the CBUAE's AML/CFT regulations. This would benefit both businesses and individuals seeking efficient overseas money transfers, while giving banks an edge and fintech over conventional remittance services. As a major global trade centre, the UAE also stands to benefit from the use of stablecoins in trade finance. In this application, smart contracts and tokenized collateral are set to streamline traditional processes such as letters of credit and supply-chain financing, reducing manual intervention and operating costs. They also promise faster settlement, and enhanced transparency. Banks in the region can also use stablecoins for faster, round-the-clock settlements among themselves and with partners and suppliers, while multinational corporations can manage liquidity more efficiently across currencies and jurisdictions. Finally, stablecoins open the door to a new wave of innovation and commercial opportunities. These range from consumer-facing wallets and micro-payment solutions for e-commerce to collateralized lending products. Banks in the region also have an opportunity to pioneer Sharia-compliant products enabled by stablecoins, such as stablecoins backed by Sukuk (Islamic bonds) or integrated into Murabaha (Islamic financing structure). These products have the potential to unlock access to digital assets for the Islamic population, while also attracting investors who seek alternatives to interest-based transactions. Stablecoins are digital currencies designed to maintain a stable value by being pegged to a reserve asset like a fiat currency. These digital currencies offer the speed and efficiency of blockchain technology without the volatility of traditional cryptocurrencies, enabling faster, cheaper, and more secure transactions. This makes them particularly promising for use cases including cross-border payments and settlements. The Citi Institute estimates that the global stablecoin market could soar to US$3.7 trillion by 2030, marking an increase of nearly 1,500% from its total value of US$234 billion in March 2025.
Al Etihad
29-05-2025
- Business
- Al Etihad
IHC concludes participation in MIITE with over 30 strategic announcements
29 May 2025 12:52 ABU DHABI (ALETIHAD)International Holding Company (IHC), the Abu Dhabi-headquartered global investment group, concluded its dynamic participation at the Make it in the Emirates (MIITE) Forum 2025, showcasing its multi-sectoral strength and commitment to the UAE's industrial transformation. Organised by the Ministry of Industry and Advanced Technology, the four-day event witnessed IHC bringing together over 25 of its Group companies under a single pavilion, with more than 30 strategic announcements and active engagement in 27 high-level panel its role as a national economic catalyst, IHC and its subsidiaries committed more than Dh5.6 billion in industrial investments over the next five years. These included agreements, product launches, factory expansions, and new facility announcements spanning clean energy, real estate, AI, advanced technology, space, and of the forum's highlights was the launch of SAIF (Smart Artificial Intelligence Facilitator), the UAE's first domestically developed AI marketplace. Built in the Emirates, SAIF is the world's first AI agent designed to simplify developer access to GPUs and large language models, setting a new benchmark for regional AI decarbonisation platform EPointZero signed a 1 GWh battery storage deal with Enercap by Apex Energy—one of the world's largest such transactions in 2025. In a further clean energy initiative, Enercap partnered with ROX Motor to jointly develop supercapacitor systems for next-generation electric vehicles manufactured in the the real estate sector, Aldar announced its adoption of hydrogen-based steel rebars from Emsteel for the construction of Abu Dhabi's first net-zero carbon mosque. This marks a significant step forward in sustainable construction practices in the also entered into an agreement with International Resources Holding (IRH), IHC's mine-to-market platform, to achieve full decarbonisation across IRH's global mining bolstering the UAE's space capabilities, Orbitworks—an IHC venture focused on satellite technologies—unveiled Altair, a ten-satellite Earth observation constellation enabled with artificial intelligence. The satellites will be assembled and integrated in Abu Dhabi, further reinforcing the nation's aspirations in advanced manufacturing and space Basar Shueb, CEO of IHC, said:"Our strong participation at MIITE reflects IHC's unwavering commitment to building the industries of tomorrow—industries rooted in innovation, sustainability, and national capability. Over these four days, we translated vision into action through strategic partnerships, groundbreaking platforms, and deep industrial alignment. Our strong performance in In-Country Value underscores IHC's role in advancing the UAE's localisation agenda and creating long-term economic resilience. As we look to 2026 and beyond, IHC will continue to be a driving force in shaping the UAE's global competitiveness and delivering sustainable value for future generations."IHC's longstanding partnership with the UAE's In Country Value (ICV) programme was reinforced by strong performance across its portfolio. PureHealth, the country's largest integrated healthcare platform, remains on track to reach an ICV-qualified spend of Dh13 billion by 2032. Its brand SEHA reported the highest ICV score in the national healthcare sector at 81.13%, while health insurer Daman achieved an impressive 71.86%.Aldar confirmed it had reinvested Dh10 billion into the local economy in 2024 and achieved a 71% ICV score. NMDC Group, a leader in engineering and marine services, received the ICV Excellence Award in the Semi-Governmental Manufacturers category. NMDC Energy alone reported Dh27 billion reinjected into the local economy and pledged an additional Dh17 billion in future localisation commitments, attaining an overall Group ICV score of 81.2%.IHC's financial services capabilities were also on display at MIITE 2025, with two landmark agreements signed with First Abu Dhabi Bank (FAB). The deals appointed FAB as IHC's exclusive house bank and introduced the FAB Business App across IHC's portfolio companies to streamline financial integration and enhance digital industrial collaborations included a strategic agreement between NMDC Energy and Al Gharbia to boost domestic pipeline manufacturing in support of regional infrastructure development. Emircom's DCV Industries, another IHC subsidiary, signed an MoU with Legrand to deliver integrated, high-performance infrastructure solutions for the next generation of data centres. IHC has confirmed its return to the MIITE Forum in 2026, to be held from May 4 to 7. The Group will again showcase its broad industrial footprint and its continued alignment with the UAE's vision for economic diversification, industrial self-sufficiency, and sustainable growth.
Gulf News
05-05-2025
- Automotive
- Gulf News
Video: Tears and joy as Indian, Filipino, Arab nurses gifted SUVs at Abu Dhabi hospital
Abu Dhabi: Tears flowed, hands trembled, and cheers erupted as 10 unsuspecting nurses sat stunned under the spotlight after being handed the keys to brand-new Toyota RAV4s. In the lead-up to International Nurses Day on May 12, Abu Dhabi-headquartered healthcare group Burjeel Holdings surprised its frontline caregivers during the Driving Force Award ceremony. These nursing heroes were selected after months of assessments across the group's facilities, recognised for their stellar performance, community service, and impact on patients, and for going above and beyond, shift after shift. While the nurses – six Indians, two Filipinos, and one each from Jordan and Egypt – had been invited under the pretext of sharing their heartwarming stories for a video shoot. They had no idea about the surprise, which triggered a wave of disbelief and emotion. Watch the video below 'Is it a matchbox?' Mei Alegre, a Nurse Manager at Burjeel Hospital, Abu Dhabi, thought she was simply there to speak about her journey. When handed the box containing the car key, she wondered if it was a matchbox. 'Never in my life did I imagine something like this. I've always loved my job, but to be appreciated like this, it's overwhelming.' Alegre, a Filipino nurse with nine years of service, recalled how former patients still greet her in the hallways, remembering the care she once gave. 'In those moments, I feel proud that I made a lasting difference. That's what matters to me.' Everyday heroes Nabil Mohamed Ikbal, a registered nurse at Lifecare Hospital, Baniyas, described the moment as 'unreal.' With four years in the system, the Indian nurse saw the award as a meaningful symbol of validation. He recalled one of his proudest moments – leading the resuscitation of a patient who had been without a pulse or breath for over 20 minutes. 'We continued CPR for 50 minutes. Everyone thought there was no hope. But the patient came back. That's the kind of team I have. That's the kind of profession nursing is.' The hospitals' backbone For Soher Mohammed Ahmed Ali, an Egyptian Nursing Educator at Medeor Hospital, Abu Dhabi, the recognition carried deep personal meaning. Having lost her father to cancer, she dedicated her life to supporting others. 'I couldn't help my father, but maybe I can help others through what I do,' she said. 'When patients or their families pray for me, when they say a quiet dua — that's more than enough. That's everything.' The recognition, she says, felt deeply personal. 'Being a nurse is part of who I am. This award reminds me that our presence and our care truly matter.' 'They don't make headlines' The other winners included Mohammed Hamid Taher from Jordan; Mark Darrel Manalo De La Cruz from the Philippines; and Ani M. Jose, Archanakumari Viswanatha Panicker, Priyankadevi Kaleeswaran, Sibi Mathew, and Vishnuprasad Sasthamkovil – all from India. John Sunil, Group CEO of Burjeel Holdings, who handed over the keys alongside Group Co-CEO Safeer Ahamed, pointed out that the real stories of nursing don't always make the headlines. 'These awards are our way of saying: we see you, we value you, and we're deeply grateful.' This week, in the run-up to International Nurses Day, another 100 exemplary nurses across Burjeel hospitals and medical centres will each receive a cash prize.
