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Tahawul Tech7 hours ago

"Data shows that 31% of European consumers currently trade in or sell old phones, highlighting an untapped supply of more than 100 million devices annually".
Learn more about the second-hand smartphone market below.
https://www.tahawultech.com/industry/technology/global-second-hand-smartphone-market-sees-annual-drop/
#SecondHandSmartphone #tahawultech

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UAE on track to hit $1.1tn trade target 4 years early as non-oil sector booms: Sheikh Mohammed
UAE on track to hit $1.1tn trade target 4 years early as non-oil sector booms: Sheikh Mohammed

Arabian Business

timean hour ago

  • Arabian Business

UAE on track to hit $1.1tn trade target 4 years early as non-oil sector booms: Sheikh Mohammed

UAE trade is booming and the country is on track to smash economic targets and deliver trade boost four years ahead of schedule. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, affirmed that the UAE, under the leadership of President Sheikh Mohamed bin Zayed Al Nahyan, continues its remarkable progress across all sectors, with the nation's booming non-oil foreign trade at the heart of this growth, achieving consistent record-breaking growth for several years. Sheikh Mohammed bin Rashi Al Maktoum said: 'The UAE's non-oil foreign trade saw growth of 18.6 per cent year-on-year in the first quarter of this year, reaching AED835bn ($227.5bn/global average is 2-3 per cent). The nation's non-oil exports experienced exceptional growth, surging by 41 per cent annually. UAE trade targets 'Our goal to grow non-oil foreign trade to AED4tn ($1.1tn) by 2031 will be achieved within the next two years; four years ahead of schedule. In 2024, GDP grew by 4 per cent, reaching AED 1.77tn ($482bn), with the non-oil sector contributing 75.5 per cent to the national economy.' Sheikh Mohammed added: 'Under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, the UAE's economic growth is achieving unprecedented success. Indicators of social, economic, and strategic stability and prosperity are at their highest historical levels. 'We are confident in an even brighter future, driven by the focused efforts of thousands of dedicated teams working to realize the UAE's global ambitions.' The UAE's non-oil foreign trade continued an upward trajectory in Q1 2025 (January 1 to March 31 2025), reaching AED835bn ($227.5bn), an 18.6 per cent increase compared to Q1 2024. UAE non-oil exports continued to achieve historical growth rates, recording AED177.3bn ($48.3bn) in Q1 2025, a 40.7 per cent year-on-year increase (compared to Q1 2024) and a 15.7 per cent quarter-on-quarter increase (compared to Q4 2024). This robust growth propelled non-oil exports to over 21 per cent of the UAE's total non-oil foreign trade for the first time in the nation's history, outpacing the growth of both imports and re-exports. Re-exports saw a 6 per cent annual increase, reaching AED189.1bn ($51.5bn). Imports grew by 17.2 per cent year-on-year, reaching AED468.6bn ($127.6bn), but experienced a slight 1.7 per cent decline compared to the previous quarter (Q4 of 2024). Trade with the UAE's top 10 trading partners continued to expand, growing by 20.2 per cent in Q1 2025, compared to 16.9 per cent growth with other countries. Trade grew with India by 31 per cent, with Saudi Arabia by more than double at 127 per cent, with Turkiye by 8.3 per cent – surpassing previous records – and with China by 9.6 per cent.

SISCO Holding unit to invest $426m to upgrade four ports in Saudi Arabia
SISCO Holding unit to invest $426m to upgrade four ports in Saudi Arabia

Zawya

time2 hours ago

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SISCO Holding unit to invest $426m to upgrade four ports in Saudi Arabia

Saudi-listed Sustained Infrastructure Holding Company (SISCO Holding) said its subsidiary, Red Sea Gateway Terminal (RSGT), has signed four 20-year Build, Operate and Transfer (BOT) concession agreements with the Saudi Ports Authority (Mawani).for the operation of four existing port facilities on the Red Sea coast. RSGT will invest a total of 1.6 billion Saudi riyals ($426.42 million) in upgrades for the four facilities over 20 years, SISCO Holding said in a statement to the Saudi stock exchange on Monday. The newly acquired concessions cover general cargo, dry and liquid bulk, crude oil, petrochemical, RO/RO, and livestock terminals, SISCO Holding said. Under the new concession agreements, RSGT will consolidate the existing multi-purpose and Ro/Ro terminals at Jeddah Port, while taking operational control of King Fahd Industrial Port Yanbu, Yanbu Commercial Port, and Jazan Port. SISCO Holding's unit will invest SAR 672 million in infrastructure, equipment and technology to upgrade the four facilities over the first five years. The concessions will be run by RSGT's 100 percent owned Multi-purpose Terminals (MPT) business unit, which will take over operations of all non-containerised port facilities within the expanding RSGT portfolio. The move strengthens RSGT's service offerings, operational capacity, and ability to support growing trade flows through the Red Sea. The combined average annual cargo throughput for these facilities is projected to be three million tonnes of general cargo, 13 million tonnes of bulk cargo, 13.5 million tonnes of liquid bulk cargo, 710,000 units of RO/RO (vehicular) cargo, and 8 million head of livestock. The concessions will be effective from 1 July 2025. The financial impact will be reflected in SISCO Holding and RSGT's financial statements from the third quarter of 2025, the statement said. (Editing by Anoop Menon) (

Intelmatix named 2025 Technology Pioneer by the World Economic Forum
Intelmatix named 2025 Technology Pioneer by the World Economic Forum

Zawya

time2 hours ago

  • Zawya

Intelmatix named 2025 Technology Pioneer by the World Economic Forum

Riyadh: The World Economic Forum (WEF) has named today Intelmatix, a global deep-tech company specializing in enterprise artificial intelligence, as a 2025 Technology Pioneer. Intelmatix is the first AI company from Saudi Arabia, and the broader MENA region to receive this recognition, marking a major milestone for the Kingdom's technology sector. The WEF Technology Pioneers program recognizes the world's most promising companies that are shaping the future through innovation and impact. Past honorees have included transformational leaders such as Google, Twitter, Airbnb, Spotify, and Palantir. The announcement underscores Saudi Arabia's bold commitment to artificial intelligence as a national priority under Vision 2030, which has fostered an ecosystem where companies like Intelmatix can thrive and contribute to positioning the Kingdom as a global hub for AI and cognitive technologies. Intelmatix supports enterprises at every stage of their cognitive transformation through a comprehensive ecosystem of products, solutions, and expertise. Products are delivered via EDIX, the Enterprise Digital Intelligence Platform, while AI solutions are custom technology developments to meet the specific needs of the public and private sector. Enterprises can also tap into Intelmatix's deep expertise through the AI Academy, AI Advisory, and AI Labs, embedding cutting-edge skills, strategic guidance, and innovation throughout their cognitive journey. Intelmatix was selected for its pioneering work on EDIX, a next-generation AI platform designed to serve as the digital brain of the enterprise. EDIX transforms how enterprises operate and make decisions by embedding AI-driven intelligence directly into the fabric of daily workflows. Built on a modular, agent-based architecture, EDIX allows intelligence to scale and evolve with the enterprise, enabling organizations to start their cognitive transformation small and progressively become fully cognitive. EDIX offers a living, adaptive system of intelligence, where AI agents don't merely analyze data, but learn, collaborate, and act in context. What truly sets EDIX apart is its suite-based approach, tailored to key industries through EDIX Suites. For example, EDIX Cities powers the UrbanX platform developed with the Riyadh Municipality, where multiple AI agents manage urban operations in real time. The EDIX Talent Suite is used for example by the Saudi Commission for Health Specialties to support national planning for healthcare practitioners. In the private sector, the EDIX Retail Suite enables large retailers to optimize operations, staffing, and site decisions, illustrating how EDIX brings intelligence to life across diverse domains. As a member of the Technology Pioneers community, Intelmatix will actively contribute to the World Economic Forum's global initiatives, including the Centre for the Fourth Industrial Revolution (C4IR), the AI Governance Alliance, and the Smart Cities initiatives, furthering dialogue on responsible AI and future-ready systems. 'We are honored to be named a Technology Pioneer by the World Economic Forum,' said Dr. Anas Alfaris, Co-founder and CEO of Intelmatix. 'This recognition reflects our commitment to pushing the frontiers of enterprise AI, and to shaping a future where enterprises can think, adapt, and act with cognitive intelligence.' As a member of the Technology Pioneers community, Intelmatix will actively contribute to the World Economic Forum's global initiatives, including the Centre for the Fourth Industrial Revolution (C4IR), the AI Governance Alliance, and the Smart Cities initiatives, furthering dialogue on responsible AI and future-ready systems. About Intelmatix Intelmatix is a deep-tech company building the next-generation enterprise AI platform, powered by context-aware, domain-specific AI agents. Acting as the digital brain of the enterprise, the platform ingests organizational and external data, forecasts scenarios, recommends decisions, and orchestrates intelligent actions. Intelmatix enables enterprises to become cognitive, intelligent ecosystems that sense, learn, decide, and evolve, with unmatched speed, accuracy, and scale. The company was founded in 2021 and is headquartered in Riyadh, with offices in London and Boston. About World Economic Forum The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas ( Media Contact Waseem Sayegh

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