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Arabian Business
28-02-2025
- Business
- Arabian Business
Italian telecom giant TIM selects Abu Dhabi for regional HQ, plans IoT and AI excellence centre
The Abu Dhabi Investment Office (ADIO) has entered into a strategic partnership with TIM Group (Telecom Italia), Italy, to support the company's expansion in the region. The move advances TIM's international expansion, while bolstering Abu Dhabi's position as a global hub for advanced digital connectivity and next-generation technologies. The strategic partnership was formalised during a ceremony at the Italy-UAE Business Forum in Rome, witnessed by Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and Giorgia Meloni, Prime Minister of Italy. Under the partnership, TIM's regional headquarters in Abu Dhabi would introduce its expertise in secure communications, cloud and Internet of Things (IoT) applications to enhance industrial productivity and strengthen Abu Dhabi's digital infrastructure. Abu Dhabi-TIM digital collaboration As part of this effort, the company will assess opportunities to develop advanced cyber and quantum communication solutions for secure and resilient public and private networks. TIM will also explore the possibility of implementing broadband and telecommunications technologies to support the rollout of 5G and 6G projects in collaboration with local and international partners. A key focus of TIM's potential expansion into Abu Dhabi is the creation of a Centre of Excellence dedicated to IoT and AI. Leveraging TIM's expertise, the centre would drive innovation in areas such as smart cities, smart homes and smart energy systems. The company is also exploring establishing edge computing as a service in the emirate, which would enable faster and more efficient data processing to enhance IoT and entertainment applications. The company's Abu Dhabi headquarters would serve as a strategic base to oversee operations across the Middle East, North Africa and India. Through this initiative, TIM also aims to play a central role in strengthening the local digital ecosystem by collaborating with universities, investors and technology firms to drive research, generate intellectual property and support talent development in critical sectors. Badr Al-Olama, Director General of ADIO, said the collaboration with TIM is poised to introduce transformative technologies to critical industries, furthering the emirate's broader diversification objectives and accelerating economic growth. 'By strengthening our technological infrastructure and attracting high-impact investors, we ensure that innovation not only drives Abu Dhabi's competitiveness, but also constitutes the foundation of its economic development,' he said. Pietro Labriola, CEO at TIM, said the collaboration with ADIO will potentially enable the company to introduce its cutting-edge digital and telecom solutions, creating opportunities for businesses and governments alike. 'Abu Dhabi is home to the fastest internet connectivity globally and its strategic location, advanced infrastructure and commitment to innovation make it the ideal base for our proposed expansion in the region and to cooperate with our partners on development projects in geographic areas of mutual interest,' he said.
Zawya
27-02-2025
- Business
- Zawya
Abu Dhabi Investment Office and Italy's Cassa Depositi e Prestiti forge strategic partnership to strengthen bilateral investment and trade
The agreement reinforces the growing economic relationship between Abu Dhabi and Italy, streamlining access to business and investment opportunities in both markets Abu Dhabi, UAE and Rome, Italy – The Abu Dhabi Investment Office (ADIO) and Cassa Depositi e Prestiti (CDP), the National Promotional Institution (NPI) and International Development Cooperation organisation of Italy, have announced the signing of their first strategic partnership. As part of the agreement, CDP and ADIO will collaborate to support Italian businesses looking to invest or expand in Abu Dhabi, as well as UAE-based enterprises seeking opportunities in Italy. The strategic partnership was formalised during a ceremony at the Italy-UAE Business Forum in Rome, witnessed by His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and Her Excellency Giorgia Meloni, Prime Minister of Italy, in which H.E. Rashed Abdulkarim Al Blooshi, Undersecretary of the Abu Dhabi Department of Economic Development (ADDED), on behalf of ADIO, and Giovanni Gorno Tempini, CDP Chairman, exchanged the agreement. The ceremony was held on the sidelines of the official state visit to Italy by President His Highness Sheikh Mohamed bin Zayed Al Nahyan. The development comes in the context of growing bilateral ties between the two countries, which were further strengthened with the visit of Italian Prime Minister Giorgia Meloni to the UAE in 2023. Italy is one of the UAE's key trade partners, with annual trade valued at over €8 billion. CDP, as the National Promotional Institution of Italy, plays a key role in supporting the Italian businesses through a wide range of financial services, including the promotion of internationalisation processes. Under the agreement, ADIO aims to connect Italian companies, including those in CDP's portfolio, with investment opportunities in Abu Dhabi. The agreement will also facilitate international expansion for UAE-based businesses by providing streamlined access to business opportunities in Italy. To facilitate business connections, ADIO and CDP will organise trade delegations, and host seminars and discussions to exchange knowledge and insights on commercial and investment trends, further enhancing cooperation. H.E. Badr Al-Olama, Director General of ADIO, said: 'Abu Dhabi's status as a global hub for business and investment is reinforced through our partnership with CDP, strengthening economic ties with Italy and creating tangible, long-term value for both nations. ADIO will provide a clear, structured path for Italian enterprises to enter one of the world's most dynamic economies, as well as empower Abu Dhabi businesses with privileged access to the Italian market, unlocking new avenues for growth and collaboration. Beyond market access, this partnership accelerates investment, drives innovation and reinforces Abu Dhabi's position as a gateway for global investors.' Under its 2025-2027 strategy, CDP will continue to prioritise international cooperation, with a focus on forging economic partnerships in emerging markets. The institution plans to invest €81 billion over the next three years, targeting a total of €170 billion in investments through third-party capital. Giovanni Gorno Tempini, CDP Chairman stated: 'This partnership with ADIO represents an important step forward in the existing economic ties between Italy and Abu Dhabi. In a rapidly evolving global landscape, Italy and the Gulf countries are forging new and strategic alliances that drive investment, innovation and sustainable growth. By leveraging CDP's network of Italian enterprises and ADIO's expertise in attracting foreign direct investment, we are creating new pathways for businesses to expand, invest and innovate in both markets while reinforcing our commitment to fostering sustainable and long-term economic growth through mutual cooperation.' About the Abu Dhabi Investment Office (ADIO): The Abu Dhabi Investment Office (ADIO) is the government vehicle responsible for accelerating Abu Dhabi's growth and enabling the emirate's economic transformation. Through comprehensive support services, ADIO enables both local and foreign investors to shape industries of the future set to transform liveability, technology, resources, and value-added services. Initiatives focused on regional tourism and retail development, as well as public-private partnerships, ensure that community well-being is at the centre of Abu Dhabi's economic transformation. With a robust network of investors, strong collaboration with key stakeholders, and a global presence, ADIO is committed to empowering those who invest with Abu Dhabi to make a lasting global impact. About CDP: CDP is the Italian National Promotional Institution and the Financial Institution for International Development Cooperation entrusted by the Italian State to foster the sustainable development of Italy and partner countries. CDP supports economic growth, social inclusiveness and ecological transition by investing in innovation, business competitiveness, infrastructures and local development.
CairoScene
27-02-2025
- Business
- CairoScene
Italy & UAE Finalise USD 40 B Investment Deal Across Key Sectors
The deal, among Italy's largest foreign investments, strengthens ties across energy, AI, defense and space. Feb 27, 2025 Italy and the United Arab Emirates have finalised a USD 40 billion investment agreement. The deal positions Italy as the UAE's top non-oil trading partner in Europe, and marks one of the largest foreign investments in the country's history. UAE President Mohamed bin Zayed travelled to Italy to conclude the agreement with Prime Minister Giorgia Meloni, with the announcement made at the Italy-UAE Business Forum in Rome. More than 40 bilateral agreements were signed across key sectors, including energy, artificial intelligence, telecommunications and defense. Major Italian companies such as Eni, Enel, Cassa Depositi e Prestiti, Fincantieri, Leonardo, Intesa Sanpaolo, and TIM will play central roles in implementing the investment plan. The agreement places a strong emphasis on future-oriented industries, with a focus on digital connectivity, advanced manufacturing, critical minerals, and space exploration. Two space-sector agreements were signed, including Italy's involvement in the Rashid Rover 3 mission and the Emirates' asteroid mission. Beyond economic collaboration, the deal expands defense cooperation, shifting from military collaboration to industrial partnerships. Discussions also addressed the development of an economic corridor linking India to Europe via the Middle East, a project expected to significantly reduce trade transit times. Italy's investment in the UAE has grown by 50% in the past five years. Non-oil bilateral trade between the two nations reached USD 14.1 billion in 2024, marking a 21.1% increase from the previous year.
Zawya
27-02-2025
- Business
- Zawya
BEEAH and Greenthesis forge strategic partnership during UAE Presidential visit to Italy,
The partnership underscores strengthening bilateral cooperation and mutual commitment to advancing shared sustainability goals between UAE and Italy Rome/Sharjah, UAE – On the sidelines of the historic meeting between His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and Her Excellency Giorgia Meloni, Prime Minister of the Italian Republic, and during the high-level Italy-UAE Business Forum in Rome, BEEAH, the region's sustainability and innovation pioneer, and Greenthesis, an Italian-owned global leader in industrial waste management and environmental services part of the renowned Greenthesis Group, have signed a landmark cooperation agreement to develop the Middle East's first polyethylene (PE) film recycling facility in Sharjah. The business forum was part of the agenda for the UAE's delegation to Italy headed by His Highness and saw the UAE's historic pledge $40 billion in investments to Italy through the signing of over 40 bilateral agreements across strategic areas of cooperation, including sustainability, energy and infrastructure, and advanced technologies. BEEAH's agreement with Greenthesis Group aligns with the growing trade relationship between Italy and the UAE, while setting new standards for circularity in the Middle East. According to the agreement, the two organisations will establish the PE film recycling facility within BEEAH's integrated waste management complex in the Al Sajaa area of Sharjah. This facility will mark a significant step forward in sustainable waste management of PE film, a lightweight plastic commonly used in protective packaging and labels that is difficult to recycle and often ends up in natural environments. By converting PE film into a sustainable alternative to plywood, the facility will support the development of green infrastructure while preserving the environment, reducing landfill dependency, and enhancing resource efficiency. Khaled Al Huraimel, Group CEO and Vice Chairman of BEEAH, underscored both companies' commitment to advancing circular economy practices and sustainability, stating, 'Our collaboration with Greenthesis Group marks a pivotal step in tackling challenges that are yet to be solved in integrated waste management. By uniting our expertise on the PE film recycling facility in Sharjah, we will not only tackle the challenge of a hard-to-recycle waste and contribute to sustainable infrastructure, but we will also demonstrate a circularity solution that that can serve as a model for tomorrow's zero-waste cities. We look forward to our collaboration with Greenthesis Group, driven by our mutual vision for positive impact and shared spirit of innovation.' Simona Grossi, CEO of Greenthesis, added: 'We are very proud to be able to dedicate a joint venture to the study, introduction and development of innovative technologies in the field of circular economy, making available our consolidated experience in the context of a highly synergic collaboration with a leading operator in the Middle East in integrated waste management, a circumstance that will also allow us to further expand the operations of our Group on an international scale.' The plant will process over 7,000 tonnes of plastic waste annually, converting hard-to-recycle PE films from municipal and commercial waste into durable, reusable boards. These boards, created through an advanced, chemical-free process, will serve as a sustainable alternative to plywood in construction projects. The recycled boards can be reused multiple times and, once their shelf life is complete, can be reprocessed into new boards, promoting a fully circular recycling system. This initiative provides a cost-effective, long-lasting solution for the industry, reinforcing BEEAH's leadership in resource recovery and innovation across the UAE and beyond. BEEAH and Greenthesis will leverage their combined expertise through their B&A Waste Management joint venture, which has successfully conducted major industrial waste management projects across the UAE, including soil remediation. This new cooperation agreement on the PE film facility marks a significant step forward in their partnership and aligns with BEEAH's ambition to achieve zero waste cities. BEEAH, a long-time collaborator with organisations in Italy, has previously work with Intesa Sanpaolo Bank and SACE to unlock sustainable financing solutions. BEEAH also recently announced a significant collaboration with the award-winning Renzo Piano Building Workshop (RPBW), bearing the name of the famous Italian architect who founded the firm and spearheaded the design of iconic structures worldwide, for the development of the Jawaher Boston Medical District in Sharjah. This healthcare project aims to deliver world-class medical care and innovation to the UAE. These collaborations highlight BEEAH's commitment to mutual growth and strengthen the productive trade relationship between the UAE and Italy. About BEEAH BEEAH is pioneering sustainability and inspiring innovation to empower humanity's future. Through innovation, full-circle resource management, and digital transformation, BEEAH is addressing environmental challenges, deploying the latest technologies, and creating the roadmap for a smart and sustainable future. Renowned for groundbreaking environmental innovations and smart solutions, BEEAH operates across the United Arab Emirates, the Kingdom of Saudi Arabia, and Egypt, to create a better tomorrow for all. Website | LinkedIn | YouTube | Instagram | Facebook About Greenthesis With thirty years of experience in the Green Economy, Greenthesis is one of the main Italian operators specialized in the integrated management of the waste cycle in a logic based on the circular economy and environmental sustainability. More specifically, the Greenthesis Group is active in the following areas: treatment, recovery, multi-material valorization and disposal of industrial, urban, special and similar waste; environmental remediation and restoration; environmental engineering activities; waste-to-energy; production of electricity from renewable sources and production of advanced biofuels. Website | LinkedIn | YouTube | Instagram | Facebook
Yemen Online
25-02-2025
- Business
- Yemen Online
Italy and the UAE sign historic $40 billion investment deal
Italy and the United Arab Emirates have finalised a $40 billion deal that strengthens their strategic relationship and Italy's role as the UAE's top non-oil trading partner in Europe, adding to Meloni's ongoing commitment to strengthening economic ties with the Gulf states. UAE President Mohamed bin Zayed travelled to Italy to finalise a deal valued at $40 billion with Prime Minister Giorgia Meloni, with both announcing the deal at the Italy-UAE Business Forum in Rome. The agreement is 'one of the largest foreign investments in Italy's history' and marks the beginning of a new era of economic and strategic cooperation between the two countries, said Meloni. 'We often use the word 'historic' too lightly, but today, it is truly appropriate. This forum represents a milestone in our bilateral relations, as it coincides with the first-ever state visit of a UAE president to Italy. We have committed to taking our collaboration to an unprecedented level, and today, we have signed over 40 bilateral agreements,' said Meloni. The multi-sector investment plan aims to boost Italy's economic landscape and strengthen its position as a key player in sectors such as energy, artificial intelligence, telecommunications and defence. Major Italian companies such as Eni, Enel, Cassa Depositi e Prestiti, Fincantieri, Leonardo, Intesa Sanpaolo and TIM will play a key role in these agreements. One of the most notable aspects of the agreement is its focus on forward-looking industries. Italy and the UAE will collaborate on artificial intelligence, digital and energy interconnectivity, advanced manufacturing, critical minerals and space exploration. Two important agreements were signed in the space sector, with Italy joining the Rashid Rover 3 mission and the Emirates mission to asteroids, reflecting both countries' ambitions to push the boundaries of technological innovation. Defence cooperation has also been strengthened, going beyond military cooperation to include industrial partnerships. Discussions also included the development of an economic corridor linking India to Europe via the Middle East, a project that is expected to significantly reduce trade transit times. Trade relations between the two nations have recently seen remarkable growth, with Italy increasing its investment in the UAE by 50% over the past five years. "Italy holds strategic importance for the UAE, as reflected in our latest trade figures. It is our largest trading partner in the Eurozone," UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi told the forum in Rome. "In 2024, non-oil bilateral trade reached an impressive $14.1 billion, a significant 21.1% increase from 2023. By bringing together leaders from both our public and private sectors today, we can not only sustain this trajectory but accelerate it even further," he added. Since taking office in 2022, Meloni has actively sought closer ties with the Gulf states, prioritising economic and strategic interests over human rights concerns raised by political opponents. Last month, Meloni further deepened Italy's commitment to the region by signing an enhanced strategic partnership with Saudi Arabia, a deal that includes business agreements worth around $10 billion. Her government has since reversed previous partial restrictions on arms exports to the UAE and Saudi Arabia in 2023, lifting embargoes imposed by previous administrations in response to the war in Yemen. While in opposition, however, Meloni was a vocal critic of former Prime Minister Matteo Renzi for his close ties with Saudi Arabia. She condemned the kingdom's human rights record in the strongest terms, arguing that it was not a model to be admired given its treatment of 'marginalised women, persecuted and murdered dissidents, and workers without rights".
