Latest news with #Jordan-based
Miami Herald
4 days ago
- Business
- Miami Herald
Korea rushes to construct AI data centers
SEOUL, June 17 (UPI) -- South Korea's IGIS Asset Management, the country's leading real estate investment firm, plans to invest $1.3 billion to build two AI data centers in Busan, about 280 miles southeast of Seoul. To that end, IGIS Asset Management signed a memorandum of understanding with the Busan Metropolitan City government on Tuesday. The construction of the 40- and 80-megawatt data centers is expected to begin in late 2026, with operations scheduled to start in late 2029. The MOU signing ceremony came just a day after nearby Ulsan city disclosed a $5.1 billion joint investment by Korea's SK Group and Amazon Web Services, the world's top cloud provider. The two partners aim to establish a 41 MW facility by 2027 and expand it to 103 MW by 2029 in Ulsan, which is situated 30 miles north of Busan. "This landmark investment will serve as a catalyst for Busan's advancement into a national hub for artificial intelligence-based infrastructure," Busan Mayor Park Heong-joon said in the ceremony. More data center projects are currently underway in the area. Earlier this year, for instance, Stock Farm Road announced that the investor group would channel at least $10 billion to install one of the world's largest AI data centers in South Korea by 2028. Stock Farm Road was co-founded by Brian Koo, the grandson of LG Group founder Koo In-hwoi, and Amin Badr-El-Din, CEO of Jordan-based BADR Investments. "The data center is one of the major infrastructures for the AI industry. South Korea is working hard on that," Professor Yoon Seok-bin of Sogang University told UPI. "Once the infrastructure is complete, the country would be attractive for foreign companies to provide advanced services in the Asia-Pacific region," he said. Copyright 2025 UPI News Corporation. All Rights Reserved.
UPI
4 days ago
- Business
- UPI
Korea rushes to construct AI data centers
South Korea's IGIS Asset Management plans to invest $1.3 billion to build two AI data centers in Busan. Photo by Yonhap South Korea/EPA-EFE SEOUL, June 17 (UPI) -- South Korea's IGIS Asset Management, the country's leading real estate investment firm, plans to invest $1.3 billion to build two AI data centers in Busan, about 280 miles southeast of Seoul. To that end, IGIS Asset Management signed a memorandum of understanding with the Busan Metropolitan City government on Tuesday. The construction of the 40- and 80-megawatt data centers is expected to begin in late 2026, with operations scheduled to start in late 2029. The MOU signing ceremony came just a day after nearby Ulsan city disclosed a $5.1 billion joint investment by Korea's SK Group and Amazon Web Services, the world's top cloud provider. The two partners aim to establish a 41 MW facility by 2027 and expand it to 103 MW by 2029 in Ulsan, which is situated 30 miles north of Busan. "This landmark investment will serve as a catalyst for Busan's advancement into a national hub for artificial intelligence-based infrastructure," Busan Mayor Park Heong-joon said in the ceremony. More data center projects are currently underway in the area. Earlier this year, for instance, Stock Farm Road announced that the investor group would channel at least $10 billion to install one of the world's largest AI data centers in South Korea by 2028. Stock Farm Road was co-founded by Brian Koo, the grandson of LG Group founder Koo In-hwoi, and Amin Badr-El-Din, CEO of Jordan-based BADR Investments. "The data center is one of the major infrastructures for the AI industry. South Korea is working hard on that," Professor Yoon Seok-bin of Sogang University told UPI. "Once the infrastructure is complete, the country would be attractive for foreign companies to provide advanced services in the Asia-Pacific region," he said.
Yahoo
5 days ago
- Business
- Yahoo
Almarai to buy bottled-water producer Pure Beverages
Saudi Arabian food and beverage group Almarai has agreed to acquire local bottled-water business Pure Beverages Industry Company for SR1.04 ($277m). In a stock-exchange filing yesterday (15 June), Almarai said the deal is in line with its 'growth strategy to expand its beverage portfolio and enhance its consumer offerings'. Almarai, which sells dairy and juice products under its namesake brand, added it is 'confident that this acquisition will create value for its shareholders'. Headquartered in Riyadh, Pure Beverages Industry Company owns the Ival and Oska brands, with factories in Riyadh, Jeddah and Dammam. According to its website, Pure Beverages Industry Company was set up by Saudi conglomerate Ajlan & Bros. Group in 1979. Almarai plans to finance the acquisition through its internal cash flows, with the completion of the transaction subject to contractual conditions and regulatory approvals in Saudi Arabia. The deal follows Almarai's recent unsuccessful attempt earlier this year to acquire Jordan-based Hammoudeh Food Industries. In March, Almarai said the deal could not proceed 'due to factors beyond the company's control, as the seller was unable to meet certain conditions required to complete the transaction'. Almarai added it is 'open to exploring future expansion opportunities, recognising the strategic importance of strengthening regional operations and expanding geographically to serve consumers in various markets'. The group operates in dairy, poultry, bakery, infant-nutrition, and juice sectors. In 2024, Almarai generated revenue of SR20.98bn, up from SR19.58bn in 2023. Operating profit stood at just under SR3bn, versus SR2.69bn a year earlier. Net profit was SR2.31bn, against SR2.05 the year previous. According to GlobalData, Just Drinks' parent, the size of Saudi Arabia's packaged water market in volume terms was 3.88bn litres last year. The data and analytics group forecasts growth of 3.9% this year to 4.03bn litres. In March, Berain Water, another Saudi bottled-water business, attracted a new investor. Hassana Investment Company acquired a 40% stake in Berain from Rajhi-Invest. Berain has three production plants in Jeddah and Riyadh, and markets bottled water in multiple size options. "Almarai to buy bottled-water producer Pure Beverages" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Campaign ME
02-06-2025
- Business
- Campaign ME
Airport International Group, Extime JCDecaux Airport to revamp advertising experience
Jordan-based Airport International Group has signed a partnership agreement with airport advertising company Extime JCDecaux Airport to enhance the OOH advertising experience at Queen Alia International Airport (QAIA) in Amman, Jordan. The collaboration will see a full-scale update of the airport's media infrastructure, including new, larger digital screens and creative solutions in high-traffic areas, designed to improve visibility for advertisers and streamline the passenger journey. Extime JCDecaux Airport builds on JCDecaux's global expertise from airport media operations in more than 150 international hubs. At QAIA, the company will deploy a secure, ISO 27001-certified digital broadcasting system connecting all screens across the airport, enabling real-time synchronisation, seamless content delivery and centralised monitoring. The upgrade also includes large-format Skytouch portrait displays fitted with LED lighting and redesigned lightboxes with energy-efficient panels, located at the exterior of the airport. These additions aim to increase advertising impact while reducing energy consumption and operational costs. Inside the terminal, more prominent digital screens will be installed in high-traffic areas, creating new media opportunities for brands looking to reach travellers in Jordan's busiest airport. 'For us, every element of the airport journey – visual, operational and emotional – reflects our brand promise 'Feels Like Home'. As the first point of contact for millions arriving in Jordan, QAIA plays a vital role in shaping perceptions from the moment passengers arrive. Through our collaboration with Extime JCDecaux Airport, we are introducing a world-class visual environment that seamlessly combines innovation, sustainability and impactful brand storytelling. These enhancements are not only designed to create value for advertisers, but more importantly, to enrich the passenger experience at every touchpoint – making it more welcoming, engaging and aligned with the top-tier standards of Jordan's prime gateway to the world,' said, Airport International Group CEO, Nicolas Deviller. Isabelle Fourmentin, Managing Director of Extime JCDecaux Airport, added: 'Our plan is to develop an eco-friendly advertising platform based on innovative, high-performance media solutions for advertisers, enhancing both brand advertising experiences and passenger journey.'
Wamda
05-05-2025
- Business
- Wamda
Jordan's Sira expands to UAE to build inclusive, trust-based networks across MENA
Jordan-based professional community platform Sira has expanded to the United Arab Emirates as part of its mission to foster authentic, values-driven connections across the MENA region. Founded in 2022 by Ayah Saeed and Zara Najjar, Sira is a membership-based network that reimagines professional communities by prioritising collaboration, empathy, and authenticity over status and job titles. The platform offers a private communication space, curated events, and peer-led admissions focused on shared values rather than professional prestige. The UAE expansion will support Sira's efforts to build a more inclusive, trust-based network across sectors. With over $3.6 million in collaborations generated between members to date, Sira aims to redefine what meaningful professional connection looks like in the region. Press release: Sira, the MENA region's pioneering membership professional community dedicated to fostering authentic connection and holistic growth, is proud to announce its expansion into the United Arab Emirates. This strategic move aligns seamlessly with the UAE's 2025 declaration as the "Year of Community," emphasising the nation's commitment to fostering unity and inclusive growth. At The Core: Authentic Connections Over Transactional Relationships Sira was co-founded by Ayah Saeed and Zara Najjar, who both have experience working within global entrepreneurial networks, where they witnessed firsthand both the power and the pitfalls of traditional professional communities. 'After attending countless networking spaces that felt more like name-tag exchanges than real conversations, we were drained,' said Saeed. 'I'd often receive messages saying, 'I'm not sure if you remember me, but we met in 2020 at an event.' And they were right; I didn't remember. Because we never really connected.' That disconnection sparked a bold idea: What if a professional community prioritised values over vanity? Where job titles, funding rounds, and status didn't matter, but who you are, how you think, and how you show up did? Our bet was simple: bring together truly diverse, driven professionals from all industries and backgrounds and create the space for them to be themselves. and let shared values lead the way. That way, we get more collaboration, more connection, more learning, more genuine care, and ultimately, a stronger sense of belonging. This is how trust is built, how connections become meaningful, how growth becomes collective, and how a group of people becomes a community. 'Most professional networks are exclusionary by design,' said Zara Najjar. 'They're built around status and gatekeeping. At Sira, we inverted that model. Our application process is anonymous and values-led. We evaluate potential members based on their commitment to collaboration, growth, respect, empathy, and authenticity. Then, we share de-identified applications with existing members to review and vote on. It's a more democratic and inclusive way to build a community, one that reflects who people are, not just what they do.' More Than Networking: A Place to Belong Members of the Sira Community enjoy access to a private communication space, where they can connect with like-valued professionals. They offer monthly events centred around professional and personal development, building meaningful connections, and inspirational talks from industry leaders like Rania Atalla, Salah Oqbi, and Dr Geoff Smart. But at the heart of Sira is their commitment to creating mediums for authentic connection. The way they initiate conversations both online and offline and their approach to curating events all lead to genuine interactions, meaningful engagement, and authentic connection. They go beyond superficial exchanges; by dropping the facade, encouraging vulnerability, and creating spaces for their members to share their true selves, they facilitate more profound bonds and more impactful collaborations. 'Being part of the Sira community has been transformative, allowing me to expand my professional network, forge lasting friendships, and gain invaluable exposure to diverse individuals with rich experiences and values. From the very beginning, I felt included, connected, and empowered by the community's warm and supportive environment. It's truly inspiring to be part of such a high-achieving network that consistently looks forward to helping and uplifting its members.' — Anas Qawasmeh, Sector Lead for Fintech & Innovation, DIFC. Proof That Meaningful Connection Works Over the past two years, Sira members have collaborated on more than $3.6 million USD in business transactions through hiring, referrals, investments, and joint ventures. It's not a coincidence. It's what happens when people with aligned values connect in spaces designed for openness, trust, and mutual support. Join a Community Built on Real Connection As Sira continues to grow, we welcome professionals from all walks of life, whether you're an employee, entrepreneur, freelancer, creative, doctor, educator, or anything in between. If you value authenticity, growth, and meaningful connection, we invite you to join a discovery call to learn more about the community and how to become a member.
