Onjo Simson

  The video game industry is expanding rapidly in the UAE New reports project gaming revenues in the country will reach $492 million by 2027, up from $236 million in 2022. This growth is being driven by rising interest among younger audiences and investment from government bodies.  Gamers in the UAE span all ages and demographics But teenagers and those in their early 20s make up a major portion of players Their engagement is stimulating appetite across other age groups as well Easier access to games through smartphones and esports tournaments are also fueling growth. Both federal and local authorities are supporting the gaming and esports sector through initiatives This includes hosting large scale gaming events developing regulatory frameworks that protect players and funding startups creating games The objective is to build a creative digital economy and entertainment hub.  Key international publishers and platform holders are paying increasing attention to the UAE. They are releasi

  The UAE and Iraq are looking to enhance cooperation between their parliamentary bodies Speaker of the UAE Federal National Council Saqr Ghobash met with his Iraqi counterpart Mohsen Al Mandlawi on the sidelines of an Inter Parliamentary Union meeting in Geneva. They discussed ways to boost ties and coordination between the two councils.  Both countries want to strengthen the historic bonds between their peoples Iraq and the UAE have longstanding friendly relations due to their close proximity and cultural links Now they aim to deepen cooperation across various sectors for mutual benefit Economic and investment partnerships are seen as particularly important avenues for sustainable growth. Parliamentary coordination is recognized as important for policy alignment The officials underlined the value of bilateral meetings visits and knowledge sharing between their councils This allows national issues and interests to be progressed jointly on regional and international stages.  Cooperatio

  Abu Dhabi being named the richest city globally It says the city has a massive amount of wealth from government investment funds called sovereign wealth funds.  Sovereign wealth funds are large investment funds controlled by governments They invest money from foreign exchange assets or reserves Abu Dhabi has around Rs 142 lakh crore in its sovereign wealth funds. This is far more than any other city in the world. Not even large financial hubs like New York Singapore or Hong Kong have such huge amounts.  Most of Abu Dhabi's wealth comes from its oil and gas reserves The city is a major oil producer. It earns lots of money by exporting oil and gas A large part of these earnings go into the sovereign wealth funds These funds then invest the money in different businesses worldwide to grow the capital over time. Abu Dhabi uses this wealth for development activities It has built world class infrastructure industries and attractions Many top companies have offices in Abu Dhabi now The h

The UAE has always been at the forefront of providing humanitarian aid to countries in need. Under the leadership of President Sheikh Mohamed bin Zayed Al Nahyan it has launched the UAE Stands With Lebanon campaign to support the brotherly Lebanese people amidst current challenges.  During a recent media briefing at Dubai Humanitarian Her Excellency Reem Al Hashimy reaffirmed the UAE commitment to Lebanon. She was joined by representatives from several international organizations like UNHRD WFP, WHO, UNHCR, Unicef and IFRC. They highlighted the UAE unwavering support and pledged to work closely to deliver essential relief. As part of the campaign relief aid collection began at Expo City Dubai Exhibition Centre from 9am to 1pm. Residents generously donated food medical supplies and other necessities as the UAE aims to assist those affected by the crisis in Lebanon. The directives from the President and follow up from Crown Prince of Abu Dhabi underscores the strength of UAE and Lebanese

  The UAE and US have recognized that technology and innovation will be increasingly important pillars of their relationship going forward. During recent visits leaders from both sides focused on cooperation in areas like AI data centers cybersecurity and more. This shows their shared goal of moving beyond traditional energy ties to embrace new sectors driving 21st century economies. The UAE has been proactively diversifying its economy and positioning itself as a global tech hub Successful companies like G42 in Abu Dhabi show the growth of the local AI industry Both sovereign wealth funds and state linked entities are also investing heavily in digital startups worldwide. Major initiatives like the GAIIP partnership aim to develop next generation infrastructure around data and computing.  Advancing into new industries like semiconductors and space exploration has further solidified the UAE reputation as an emerging tech power The Hope Mars Mission was a major scientific achievement. Si

  SK Group chairman Chey Tae won is set to visit key Middle Eastern countries to strengthen partnerships. His scheduled trips to Saudi Arabia and the UAE come at an important time as SK merges its energy firms. The newly formed entity managing over $74 billion assets will rely on stable oil supplies and prices. The Middle East holds influence as the world's top crude exporter. Chairman Chey aiming to meet Crown Prince Mohammed and UAE President signals the region's prominence for SK's downstream business.  Lower refining margins recently dampened SK third quarter profits Dependable ties with Gulf petro states can alleviate uncertainties facing energy companies. Chey likely hopes to discuss ways stabilizing profits through market insights and coordinated investments Beyond oil SK also sees opportunity collaborating on new technologies both regions are developing like AI and semiconductors. The Middle East actively courts skills in these areas from Korean champions. Chey'