Can Dubai Become the Next Global Tech Hub?, BlackRock Takes First Step Into Crypto Exposure in Two Funds, Elon Musk Targets Telecom for Next Disruption With Starlink Internet.
Designed for the Future: Can Dubai Become the Next Global Tech Hub? | by Humaira | Jan, 2021 | Medium
“In 2019, over 560 startups in the region were funded ($704M in funding) and had record exits, including Careem which was acquired by Uber for $3.1B. More than 27 companies had exited.”
“Smart Dubai is Dubai’s government office in charge of the cities smart transformation. One of its initiatives is the Dubai Blockchain Strategy, which expects Dubai to be the first city fully powered on blockchain technologies.”
“Dubai stepped its game up by appointing a Minister of Artificial Intelligence, who plans to unveil a series of AI solutions in government divisions to provide a better experience for all residents (the vision of the happiest place to live).”
“I attended a conference last year where I met AI/ML engineers from the Dubai Police Department”.
“Dubai has its eyes set on Mars. The first Arab interplanetary mission to Mars is set to reach the red planet on Feb 9th, 2021.”
“The Museum of the Future is dedicated to AI, VR, Blockchain, and other ambitious visions for the UAE”.
Elon Musk Targets Telecom for Next Disruption With Starlink Internet – Bloomberg
“Musk’s Space Exploration Technologies Corp. has launched more than 1,000 satellites for its Starlink internet service and is signing up early customers in the U.S., U.K. and Canada.”
“Starlink is angling for a piece of a $1 trillion market made up of in-flight internet, maritime services, demand in China and India — and rural customers.”
“SpaceX has been launching Starlink satellites on its Falcon 9 rockets in batches of 60 at a time, and the 17th Starlink launch was on Jan. 20. There are now roughly 960 functioning satellites in orbit.”
Why Bill Gates Is Keen on Private Jets – Bloomberg
“Why are Bill Gates and Blackstone Group Inc. teaming up to buy a company that makes much of its money refuelling private jets?”
“Blackstone and Gates’s Cascade Investment LLC are weighing a takeover offer of at least $5.17 a share, or $4.3 billion before debt, for Signature Aviation Plc, which also provides passenger amenities and technical support for business jets.”
“In a gold rush, the real money’s often made by those selling shovels. In a pandemic, refuelling the planes of the super-rich has a similar appeal.”
Abu Dhabi approves $12.3bn worth capital projects in the Emirate – GCC Business News
“Abu Dhabi’s local executive authority Abu Dhabi Executive Council has endorsed a framework between Abu Dhabi Government and Aldar Properties, a real estate development, management, and investment company, to develop $12.3 billion (AED45 billion) worth of capital projects in the Emirate.”
“The framework involves Aldar taking over the development and management of approximately $8 billion (AED 30 billion) worth of government capital projects, such as Riyadh City, Baniyas North, and developments in the Al Ain and Al Dhafra regions.”
BlackRock Takes First Step Into Crypto Exposure in Two Funds – Bloomberg
“BlackRock Inc. is adding Bitcoin futures as an eligible investment to two funds, the first time the money manager is offering clients exposure to cryptocurrency.”
“The world’s largest asset manager filed updated prospectuses for a pair of funds including cash-settled Bitcoin futures among assets they’re permitted to buy.”
Electric Cars Get First Battery That Can Charge in 5 Minutes – Bloomberg
“Israeli company StoreDot Ltd. has manufactured the first battery for electric vehicles that can be charged in just five minutes, a step toward making refuelling as fast as cars at a gas station.”
“StoreDot said that rapid charging batteries could overcome range and charging anxiety, a critical barrier to mainstream EV adoption.”
Dubai’s Property Glut Means Two More Years of Price Drop for JLL – Bloomberg
“Dubai home prices will likely extend declines this year and next as the market works to clear an oversupply that’s been a drag on values since 2014, according to property broker JLL.”
“The government has responded by setting up a committee to manage supply and demand as some of the city’s largest developers continued with construction”
“But the market has been seeing some positive signs. The pace of price decreases has slowed and demand has been ticking up as end-users take advantage of lower prices and favorable payment plans and interest rates, said JLL’s Salbak.”