Latest news with #AlShirawi
TECHx
5 days ago
- Business
- TECHx
Arab Media Forum 2025 Highlights AI Dominance
Home » Latest news » AI Dominates Discussion at Arab Media Forum 2025 A session titled 'AI: Secret Weapon or Your Worst Nightmare?' drew strong attention during the Arab Media Forum 2025. It was held under the auspices of the Dubai Media Council as part of the Arab Media Summit. The session featured Dr. Marwan Alzarooni, CEO of Artificial Intelligence at Dubai's Department of Economy and Tourism, and Hamad Al Shirawi, Director of Projects at Dubai Future Foundation. Dr. Alzarooni revealed that AI is already impacting every part of life. He firmly stated, 'AI is here to stay.' He reported that the UAE is taking bold steps to harness AI's potential. He added that this is only the beginning. Dr. Alzarooni also noted that economic initiatives are now supporting content creators in the media sector. He said individuals in the UAE have many chances to upskill using online platforms and national initiatives. He emphasized the need for people to use AI to their benefit across life and work. He also pointed out Dubai's continued success in applying AI in government. He revealed that key sectors like healthcare, logistics, proptech, and sustainable manufacturing are among the main focus areas. Moreover, Dr. Alzarooni warned that the divide between AI users and non-users will keep widening. Those who embrace AI will gain access to richer, scalable content. He also predicted the rise of 'vibe coding,' where one-person startups will manage complex tasks with fewer resources. Meanwhile, Al Shirawi highlighted the UAE's vision to embrace AI. He announced that Dubai is working closely with public entities to collect and share best practices. He reported that Dubai Police used AI to boost efficiency in lost-and-found cases by 300%. This task, once prone to human error, has now improved due to AI implementation. He stated that public trust and inclusion remain key to AI rollout in Dubai and the UAE. Al Shirawi addressed AI fears by comparing them to the internet's early days. He reminded the audience that innovation often brings concerns, but adaptation follows. He reaffirmed that AI can bring major productivity gains and stated Dubai remains a leading innovation hub. He also cited the One Million Prompters initiative, which aims to empower AI users through real-world use cases across sectors. Dubai Police improved case-solving by 300% using AI UAE's AI strategy includes training, innovation, and public inclusion In closing, Al Shirawi remarked that AI is no longer optional. He said it has become a necessary tool for progress. Choosing not to use it, he warned, could lead to serious setbacks.
Argaam
19-02-2025
- Business
- Argaam
Maaden acquires SABIC's stake in Alba for $1B: SICO
SICO BSC (c) announced today the successful completion of its role as execution agent and broker on behalf of both the Saudi Arabian Mining Company (Ma'aden) and SABIC Industrial Investment Company (SIIC) in a BHD 363 million (equivalent to SAR 3.6 billion) landmark transaction pertaining to a 20.62% stake in Aluminum Bahrain B.S.C. (Alba). SICO facilitated the transaction through the Bahrain Bourse's Special Order Market, providing comprehensive transaction execution advisory and brokerage services. Throughout the process, SICO coordinated with the legal teams, regulatory bodies, including the Central Bank of Bahrain, Bahrain Bourse, and Bahrain Clear, ensuring the seamless execution of the deal. Najla Al Shirawi, Group CEO of SICO, said, 'We are delighted to announce the successful completion of this strategic transaction, a significant milestone that strengthens SICO's standing as a trusted financial partner in the region. This accomplishment not only demonstrates our dedication to providing exceptional financial services but also reflects the confidence our clients have in us. Their trust underscores our robust execution capabilities and our proven proficiency in managing complex, high-value transactions with precision and efficiency.' 'In a rapidly evolving financial landscape, we remain steadfast in our commitment to excellence. This transaction reflects our strategic vision and relentless drive for innovation, enabling us to better serve our clients' diverse needs,' Al Shirawi added. She went on to say, 'Looking ahead, we are excited about the opportunities this transaction presents, not only for SICO but also for our clients and stakeholders. We are prepared to enhance our role as a leading financial partner in the region, fostering growth and creating value for all parties involved. Wissam Haddad, Group Head of Investment Banking at SICO, added, 'This acquisition is a key step in Ma'aden's vision to significantly expand its aluminum business, and we are honored to have facilitated the transaction. At SICO, we pride ourselves on providing tailored advisory services and execution capabilities that align with the strategic objectives of our clients. Our extensive presence, including our strategic footprint through SICO Capital in Riyadh, along with our deep connections in the region, played a critical role in ensuring the success of this deal.' This acquisition marks a key milestone in Ma'aden's strategy to expand its aluminum business, supporting its broader ambition of achieving tenfold growth by 2040. Alba, listed on the Bahrain Bourse with a market capitalization of approximately BHD 1.5 billion, is recognized as one of the region's most established and globally competitive aluminum producers. SICO is a leading regional asset manager, broker, and investment bank with $7.4 bn in assets under management (AUM). Today, SICO operates under a wholesale banking licence from the Central Bank of Bahrain and also oversees two wholly owned subsidiaries: an Abu Dhabi-based brokerage firm, SICO Invest, and a full-fledged capital markets services firm, SICO Capital, based in Saudi Arabia.
