ABU DHABI SKYLINE/BLOOMBERG
Abu Dhabi has merged its defence and technology firms creating EDGE, one of the biggest defence groups in the Middle East.
EDGE is set to implement advanced technologies such as autonomous capabilities, cyber-physical systems as well as the internet of things, advanced propulsion systems, and robotics and smart materials, with a focus on artificial intelligence across all its products and services.
HE Faisal Al Bannai, the CEO and Managing Director of EDGE, said, “EDGE will invest extensively across R&D, working closely with front-line operators to design and deploy practical solutions that address real world challenges.”
Home to around six per cent of global oil reserves, Abu Dhabi, is stepping up efforts to consolidate its entities as the emirate adapts to lower oil prices. It has combined banks and sovereign wealth funds as well as joined 11 entities, including ports and airports, under Abu Dhabi Development Holding Company.
MOST READ
INVESTMENT
India seizes Yes Bank, limits withdrawalsINVESTMENT
ING Groep plans to sell its Turkish unitINVESTMENT
SABB seeks to boost corporate lendingINVESTMENT
UBS launches new private client programINVESTMENT
Egypt plans to resume IPOs of parastatalsINVESTMENT
HSBC considering exiting from TurkeyINVESTMENT
Abu Dhabi’s Group 42 acquires BayanatINVESTMENT
Amanat considers stake in VPS HealthcareINVESTMENT
KIZAD, ECI partner to support UAE businessesINVESTMENT
Fiat Chrysler, PSA explore a potential mergerINVESTMENT
UBS investment bank job cuts reach EuropeINVESTMENT
Saudi Aramco plans to complete IPO this yearINVESTMENT
Emirates NBD’s launch of E20. credit positive
CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
Loading More post
