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Al Etihad
03-05-2025
- Business
- Al Etihad
Under the patronage of Mansour bin Zayed, Abu Dhabi to host inaugural Governance of Emerging Technologies Summit (GETS 2025)
3 May 2025 10:02 ABU DHABI (WAM) Under the esteemed patronage of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court, Abu Dhabi is set to host the inaugural Governance of Emerging Technologies Summit (GETS 2025) on May 5–6 at the St. Regis Saadiyat Island by the Advanced Technology Research Council (ATRC) in strategic partnership with the UAE Public Prosecution, this landmark event aims to shape the future of technology governance on a global 2025 arrives at a pivotal moment as the world grapples with rapid advancements in artificial intelligence (AI), quantum computing, and Web3 summit seeks to establish robust governance frameworks that balance innovation with the protection of societal rights, bringing together over 500 leaders from government, industry, academia, and civil society to foster inclusive dialogue and collaborative Al Bannai, Advisor to the UAE President for Strategic Research and Advanced Technology Affairs and Secretary-General of ATRC, emphasised the summit's significance: 'Innovation without ambitious governance lacks sustainability. Through GETS 2025, the UAE reaffirms its belief that technological leadership must be coupled with ethical and inclusive policies that build trust and advance global human progress.'Echoing this sentiment, Chancellor Dr. Hamad Saif Al Shamsi, UAE Attorney General, stated, 'Amidst the global technological surge, we bear the responsibility of constructing a smart judicial system capable of safeguarding rights and ensuring justice. GETS 2025 presents an opportunity to reaffirm our commitment to developing responsive legislation and innovative governance that support societal advancement and uphold human dignity in the digital age.'Dr. Sultan bin Saif Al Neyadi, Minister of State for Youth Affairs, highlighted the role of youth in shaping technological governance: "The future of technology governance should be crafted by minds attuned to its evolution. Our youth possess the creativity, confidence, and responsibility required for leadership. At GETS 2025, we aim to empower young individuals to lead discussions and make decisions that will lay the ethical foundations of our digital future."The summit aligns with the UAE's strategic investments exceeding Dh13 billion to accelerate AI and digital economy initiatives, reflecting a clear commitment to integrating AI into legislation, procedures, and government attendees include Faisal Al Bannai; Advisor to the UAE President for Strategic Research and Advanced Technology Affairs and Secretary General of ATRC; Chancellor Dr. Hamad Saif Al Shamsi, UAE Attorney General; Sarah bint Yousif Al Amiri, Minister of Education; Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications; Maryam bint Ahmed Al Hammadi, Minister of State and Secretary-General of the UAE Cabinet, Dr. Sultan bin Saif Al Neyadi, Minister of State for Youth Affairs; Dr. Mohammed Al Kuwaiti, Head of UAE Cybersecurity Council; Maqsoud Kruse, Chairman of the National Human Rights Institution; Dr. Mohammed Obaid Al Kaabi, Chairman of the Sharjah Judicial Department; Dr. Amin Al Amiri, Assistant Undersecretary for the Health Regulation Sector at the Ministry of Health and summit will feature over 50 prominent experts, including Salem Ali Jumaa Al Zaabi, Head of Public Prosecution at the UAE Attorney General's Office; Dr. Najwa Al Araj, CEO of the Technology Innovation Institute, Dr. Mohammed Abdullah Al Ali; CEO of Trends Research & Advisory, Hamad Saif Al Kaabi; Director of Hazardous Materials Incidents and Official Spokesperson for the National Emergency Crisis and Disaster Management Authority; Dr. Hamad Abdullah Al Mutairi, Director of Archives Department at the National Library and Archives; Ambassador Mamuka Jgenti, Senior Expert in Justice and Civil Society at the EU Global Facility on Anti-Money Laundering and Countering the Financing of Terrorism; Lt. Col. Dana Hamid Al Marzouqi, Chair of the Governance Committee at INTERPOL and Director-General of the International Affairs Office at the Ministry of Interior; Changpeng Zhao, Founder of Binance; Christophe Legrand, Executive Vice President of PASQAL; Marc Rotenberg, Founder of the Center for AI and Digital Policy; Gabriele Mazzini, Principal Architect of the EU AI Act; Naima Hizir Al Falasi, Senior Vice President of Portfolio Strategy at Mubadala; Ali Haidar, Head of Legal and Government Affairs at Microsoft UAE; Nabil Cheqroun, Chief Commercial Officer at Honeywell; Prof. Rabii Madi, Director of Robotic Surgery at Cleveland Clinic; Dr. Ibtisam Al Mazrouei, Founder and CEO of AIE3, and Chair of the UN AI for Impact Initiative; Dr. Nasser Al Rashidi, Director of Space Policy and Legislation at the UAE Space Agency, Advisory Board Member at Mohamed bin Zayed University of Artificial Intelligence, and CEO of 5IR topics to be addressed include AI governance, digital privacy and rights, cross-border enforcement, cybersecurity in the post-quantum era, and the role of emerging nations in setting global standards. GETS 2025 represents a strategic initiative to unify efforts across governments, academia, and the private sector, aiming to develop practical and ethical solutions that protect communities and foster technological advancement in an ever-evolving world.
Al Etihad
24-04-2025
- Business
- Al Etihad
UAE to become first country to utilise AI in writing laws
25 Apr 2025 00:20 KHALED AL KHAWALDEH (ABU DHABI) The UAE is set to become the first country to actively use AI to help write and review new and existing legislation. The landmark initiative will further solidify the country as a leading practitioner of emerging technology and could possibly serve as a case study for the rest of the world. The new programme will fall under the umbrella of the newly formed 'Regulatory Intelligence Office', which was approved by the Cabinet on April 14. It seeks to create a singular body to integrate AI into every stage of lawmaking, using data to analyse the effectiveness of new and existing legislation. 'The new system will allow us to track the daily impact of laws on our people and economy using large-scale data, and it will regularly suggest updates to our legislation,' His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, said in a statement. 'The system will be linked to leading global research centres to follow the best international policies and legislative practices, adapting them to suit the UAE's unique circumstances,' His Highness added. The move is a continuation of the UAE Government's world-leading push to become a centre for both the implementation and development of AI. Having launched its AI Strategy 2031 and appointed the world's first Minister of AI, the UAE Government is looking to lead by example by utilising emerging technologies across its functions. As part of Dubai AI Week, the Dubai Centre for Artificial Intelligence (DCAI) on Thursday released a report detailing 15 use cases across government that have already yielded substantial efficiency gains. In one case, an existing programme managed to see a 300% increase in the recovery of lost items. Another recorded a 94.6% improvement in the accuracy of multilingual government digital texts and transcripts, while some other case witnessed an 85% boost in real estate valuation accuracy.'We are building a comprehensive platform that unites the public and private sectors with academia to develop and deploy AI solutions, shape enabling policies and legislation, raise awareness, and spread knowledge,' said Saeed Al Falasi, Director of report included key research that detailed how AI could be further implemented to improve urban environments, healthcare, operational and logistical costs as well as customer satisfaction. It forecast that by making these changes, the Dubai Government can radically reduce its overhead by 70%, improve results and help usher in an industry that could make up to14% of the UAE's GDP by 2030. In Abu Dhabi, a strategy has been set to create an AI-powered government, based on an announcement early this year. With an investment of Dh13 billion in innovations for 2025-2027, the emirate seeks to build the world's first fully AI-native government across all digital services in two years. The 'Abu Dhabi Government Digital Strategy 2025-2027' aims to establish a robust digital infrastructure, creating a flexible and scalable foundation to achieve 100% adoption of sovereign cloud computing for government operations and digitising and automating 100% of processes, according to the announcement in January. The transition to AI integration is not without its costs, with the UAE leading the world in AI investment both domestically and abroad. A recent report by Boston Consulting Group found that the country led the region in AI preparedness due to its substantive infrastructure both existing and under development, including 35 Data Centres already in operation. Moreover, the report found that the UAE had succeeded in attracting almost 7000 AI specialists to help implement the transition although it warned that talent could be a constraint going forward.
Khaleej Times
25-03-2025
- Business
- Khaleej Times
Adnoc L&S to distribute $273 million dividend as company delivers unprecedented growth in 2024
Adnoc Logistics & Services Plc, a global energy maritime logistics leader, on Tuesday a final dividend of $136.5 million (Dh501.3 million), bringing the 2024 full-year dividend to $273 million (Dh1.001 billion), a five per cent increase year-on-year, in line with Adnoc L&S' progressive dividend policy. The final dividend, equivalent to 6.78 fils per share, will be paid to shareholders on record as of April 3, 2025. In 2024, Adnoc L&S's revenue increased 29 per cent year-on-year to over $3.5 billion (Dh13 billion), while net profit rose 22 per cent to $756 million (Dh2.7 billion). Ebitda grew 31 per cent year-on-year. Since its 2023 IPO, the company's share price has increased by 178 per cent, significantly outperforming the ADX. The company anticipates year-on-year revenue growth from 2024 to 2025 in the mid to high 40 per cent range. Over the medium term (2026-2029), it expects to deliver a revenue CAGR in the low single-digit range. Adnoc L&S expects year-on-year Ebitda growth from 2024 to 2025 in the high teens. In the medium term (2026-2029), the company targets an Ebitda CAGR in the high single-digit range. The company anticipates year-on-year net income from 2024 to 2025 in the low double-digit range. Over the medium term (2026-2029), it expects a net income CAGR in the high single digit range. Adnoc L&S anticipates an additional $3 billion+ of value-accretive organic investment spend by 2029, beyond the projects already announced and incorporated in guidance, applying the same investment return criteria. The company is targeting a 2.0-2.5x net debt / Ebitda ratio over the medium term, with the recently committed hybrid capital instrument, debt, and free cash flows after dividends, the primary funding sources for committed and anticipated growth investment. Dr Sultan Al Jaber, Chairman of Adnoc L&S, said: '2024 was a transformative year for Adnoc L&S, marked by accelerated global expansion, record financial performance, and bold strategic moves. We continued to strengthen our fleet and completed a pivotal $1.0 billion (Dh3.7 billion) acquisition of 80 per cent of Navig8, significantly enhancing our global reach and operational capabilities. Our strong performance in 2024 allowed us to deliver outstanding shareholder value, including a five per cent increase in our full-year dividend, while advancing sustainability, innovation, and industry leadership. As we look ahead, Adnoc L&S is positioned for continued growth, driven by organic expansion, strategic acquisitions, and cutting-edge technology investments. With a growing fleet of next-generation vessels and a steadfast commitment to efficiency and sustainability, we remain focused on delivering Adnoc's energy to the world while contributing to the UAE's economic ambitions. The momentum we have built sets the stage for an even more exciting future.' Captain Abdulkareem Al Masabi, CEO of Adnoc L&S, said: 'Adnoc L&S is well-positioned for continued success. We are unwavering in our commitment to growth, both organic and through strategic acquisitions, and this will continue to deliver value to customers, shareholders, and the UAE. We are equally committed to developing Emirati talent and supporting the UAE economy, having invested nearly Dh1 billion in workforce development and local partnerships in 2024. Adnoc L&S remains a key contributor to Adnoc's In-Country Value (ICV) program, fostering the next generation of maritime industry leaders.' In 2024, Adnoc L&S continued executing one of the industry's largest fleet expansion programs, securing 21 new environmentally efficient vessels equipped with low-emission dual-fuel engines. The Company also took delivery of its first of six newbuild LNG carriers, with the second expected in May 2025. In 2024, the Company achieved an 11 per cent reduction in carbon intensity compared with the previous year, with a 56 per cent reduction in fleet emissions since 2019, aligning with Adnoc's broader decarbonization objectives. The integrated logistics business segment saw significant expansion, securing hire contracts for 19 jack-up barge deployments and acquiring 20 offshore assets. These developments reinforce Adnoc L&S' leadership in offshore logistics, supporting Adnoc's broader energy growth strategy. Adnoc L&S achieved an 11 per cent reduction in carbon intensity in 2024 compared to the previous year, with a 56 per cent reduction in fleet emissions since 2019. Adnoc L&S is advancing the industry's digital transformation, investing in AI-powered solutions, such as AIQ's SMARTi safety monitoring and the Integrated Logistics Management System (ILMS), to enhance safety, optimise operations, and reduce delays.
Al Etihad
25-03-2025
- Business
- Al Etihad
ADNOC L&S shareholders approve $273 million dividend in 2024
25 Mar 2025 12:01 ABU DHABI (ALETIHAD) ADNOC Logistics & Services Plc (ADNOC L&S) on Tuesday announced shareholder approval of all agenda items at its Annual General Meeting, including a final dividend of $136.5 million (Dh501.3 million), bringing the 2024 full-year dividend to $273 million (Dh1,001 million), a 5% increase year-on-year, in line with ADNOC L&S' progressive dividend final dividend, equivalent to 6.78 fils per share, will be paid to shareholders on record as of April 3, Sultan Al Jaber, Chairman of ADNOC L&S, said, '2024 was a transformative year for ADNOC L&S, marked by accelerated global expansion, record financial performance, and bold strategic moves.'We continued to strengthen our fleet and completed a pivotal $1.0 billion (Dh3.7 billion) acquisition of 80 percent of Navig8, significantly enhancing our global reach and operational capabilities. Our strong performance in 2024 allowed us to deliver outstanding shareholder value, including a 5 percent increase in our full-year dividend, while advancing sustainability, innovation, and industry leadership.'He added that ADNOC L&S is positioned for continued growth, driven by organic expansion, strategic acquisitions, and cutting-edge technology investments."With a growing fleet of next-generation vessels and a steadfast commitment to efficiency and sustainability, we remain focused on delivering ADNOC's energy to the world while contributing to the UAE's economic ambitions. The momentum we have built sets the stage for an even more exciting future,' Dr. Al Jaber L&S delivered exceptional financial growth, driven by strong market demand, strategic acquisitions, and operational increased 29% year-on-year to over $3.5 billion (Dh13 billion), while net profit rose 22% to $756 million (Dh2.7 billion).EBITDA grew 31% year-on-year, reflecting ADNOC L&S' ability to scale operations while maintaining its 2023 IPO, the company's share price has increased by 178%, significantly outperforming the ADX and strengthening investor trust in ADNOC L&S' long-term Abdulkareem Al Masabi, CEO of ADNOC L&S, said, 'ADNOC L&S is well-positioned for continued success. We are unwavering in our commitment to growth, both organic and through strategic acquisitions, and this will continue to deliver value to customers, shareholders, and the UAE.'We are equally committed to developing Emirati talent and supporting the UAE economy, having invested nearly Dh1 billion in workforce development and local partnerships in 2024. ADNOC L&S remains a key contributor to ADNOC's In-Country Value (ICV) programme, fostering the next generation of maritime industry leaders.'In 2024, ADNOC L&S continued executing one of the industry's largest fleet expansion programmes, securing 21 new environmentally efficient vessels equipped with low-emission dual-fuel engines. The company also took delivery of its first of six newbuild LNG carriers, with the second expected in May 2024, the company achieved an 11% reduction in carbon intensity compared with the previous year, with a 56% reduction in fleet emissions since 2019, aligning with ADNOC's broader decarbonization objectives. The Integrated Logistics business segment saw significant expansion, securing hire contracts for 19 jack-up barge deployments and acquiring 20 offshore assets. These developments reinforce ADNOC L&S' leadership in offshore logistics, supporting ADNOC's broader energy growth strategy.
Al Bawaba
19-03-2025
- Business
- Al Bawaba
Abu Dhabi to become first AI government by 2027
Published March 19th, 2025 - 03:46 GMT ALBAWABA – The Abu Dhabi Government has signed a major agreement with Microsoft, the American multinational technology company, and Core42, a G42 company that empowers individuals, enterprises, and nations to unlock AI's full potential through its comprehensive enablement capabilities. Also Read Microsoft's new AI model competes with OpenAI Abu Dhabi Government signs AI agreement The Abu Dhabi Government has announced the signing of a new strategic artificial intelligence (AI) deal with Microsoft and G42. The agreement is aimed at focusing on AI technologies and services in the country. The two companies will collaborate to integrate their cloud technologies and AI expertise. The government aims to enhance its digital transformation and artificial intelligence (AI) adoption, with the goal of improving service efficiency by processing over 11 million digital interactions per day. The Abu Dhabi Government has dedicated a total budget of approximately $3.54 billion (Dh13 billion) towards artificial intelligence (AI) development. (Shutterstock) Ahmed Tamim Hisham Al Kuttab, Chairman of the Department of Government Enablement – Abu Dhabi (DGE), stated: 'This partnership is a critical milestone in our digital transformation. By integrating Microsoft's cloud technologies with G42's AI expertise, we are creating a powerful platform that will redefine government services.'According to sources, the Abu Dhabi Government aims to become the world's first artificial intelligence (AI) government by 2027. Additionally, the government has dedicated a total budget of approximately $3.54 billion (Dh13 billion). 'AI will transform how governments operate, and Abu Dhabi is leading the way. This partnership sets a standard for AI adoption in the public sector,' commented Satya Nadella, CEO of Microsoft. Also Read Musk partners with UAE government to launch Dubai Loop project © 2000 - 2025 Al Bawaba (
