Latest news with #BasarShueb
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.
Al Etihad
21-05-2025
- Business
- Al Etihad
IHC launches UAE-built global marketplace for AI to accelerate access
21 May 2025 17:33 ABU DHABI (ALETIHAD)IHC, a global investment company focused on building dynamic value networks, has announced the launch of a pioneering marketplace for artificial intelligence solutions - powered by the first ever Emirati AI Marketplace Agent 'SAIF' - which is expected to reshape how AI is built, sourced, and deployed has been designed as a user-friendly interface to help UAE and global developers to access and directly purchase Graphics Processing Units (GPUs), AI modules, and custom AI stack speaks over 5,000 languages, can be accessed on mobile and PC, and is accessible through voice, text or video call. He has been created to embody UAE values of trust, hospitality, speed and engineered, and developed in the United Arab Emirates, this marketplace is built in the UAE but designed for the world. It will serve as a transformative AI marketplace that empowers global developers to access, build, and deploy intelligent solutions a catalyst for a new era in intelligent infrastructure, it reflects the UAE's and IHC's shared commitment to shaping a globally connected digital many developers are unable to access cutting edge AI computing chips, or GPUs, and Large Language Models (LLMs) because of the bulk scale of purchase required from providers. Using IHC's scale, the new initiative will help developers to procure the technology they need directly through the new with a vision to expand access to computational power and AI modules, the marketplace is designed to empower developers, companies, governments, and non-profit institutions to unlock the full potential of artificial intelligence. It will bridge the growing gap between demand for intelligent solutions and the complexity of sourcing and deploying them Basar Shueb, CEO of IHC, said, "The UAE continues to lead from the front in digital innovation, and this new AI marketplace is a testament to what is possible when national ambition meets cutting-edge execution. Developed here in Abu Dhabi, it will redefine the relationship between humans and intelligent systems. IHC is proud to play a role in this transformation by building new capabilities that are born in the UAE and built for the world."This initiative aligns closely with the UAE's long-term digital economy strategy and AI 2031 vision, which emphasises the critical role of advanced technology in shaping the nation's knowledge-based also reflects IHC's strategic focus on future-ready investments and its ongoing mission to accelerate digital transformation at details about the marketplace's capabilities, scope, and international partnerships will be revealed in the coming weeks. Source: Aletihad - Abu Dhabi
Al Etihad
31-03-2025
- Business
- Al Etihad
IHC to invest in India snacks giant Haldirams
31 Mar 2025 23:19 A. SREENIVASA REDDY (ABU DHABI) Abu Dhabi-based investor International Holding Company (IHC) has decided to invest in India's leading snack company Haldirams, whose variety of savouries are popular with subcontinental expatriates living in the UAE.A statement by Haldirams confirming the investment was posted on the Abu Dhabi Securities Exchange (ADX) website on Monday. Alongside IHC, US-based investor Alpha Wave Global has joined the company's ongoing equity round, following Singapore sovereign investor Temasek's financials on the extent of IHC's investment in the Indian snacks company were given. Established in 1999, IHC, a listed company at the ADX with huge footprint across the UAE and the world, has become the most valuable holding company in the Middle East and one of world's largest investment firms, with a market capitalisation of Dh876.5 billion. Haldirams, established in 1937, is known for its wide range of Indian snacks, sweets, and ready-to-eat products. Haldirams brand has become synonymous with Indian food. The company pioneered automated manufacturing in traditional snacks and has grown to become one of the largest manufacturers of packaged foods in India with a significant international Basar Shueb, CEO of IHC, said, 'We are excited to join hands with Haldirams, a brand that has set the standard for excellence in the ethnic Indian snacks industry. This investment aligns with Alpha Wave's and IHC's strategy to support leading companies that are making a global impact.'Rick Gerson, Co-founder and Chairman of Alpha Wave Global, praised Haldirams' long-standing reputation, stating, 'Over 90 years, the Agarwal family has built Haldirams into one of the most loved and iconic brands in India. We are proud to become a shareholder and partner with Haldirams in this next stage of their growth.'A Haldirams spokesperson emphasised the strategic significance of the partnership, saying, 'We are excited to welcome IHC and Alpha Wave Global as partners in our journey of global growth. The partnership represents patient capital and long-term support to Haldirams' expansion plans.'The investment will support Haldirams' ambitions to scale its operations in key markets, particularly the US and the Middle East, catering to the growing global demand for Indian cuisine and snacks. 'With the backing of Alpha Wave Global and IHC, Haldirams is set to leverage the vast expertise and networks of these investors to broaden its footprint in key international markets such as the US and Middle East, while strengthening its footprint and presence further in India,' the statement said.
