Russian sovereign fund, UAE to sign 10 deals worth more than $1.3 bln
October 15, 2019, 10:14 am

Russian sovereign fund, UAE to sign 10 deals worth more than $1.3 bln

RDIF said it would sign 10 investment deals worth more than $1.3 bln with partners from the UAE. (File photo Reuters)

Russia’s sovereign wealth fund said on Tuesday that it plans to sign 10 investment deals worth more than $1.3 billion with partners from the United Arab Emirates, including the Mubadala Investment Company.

The agreements, which will be signed during a visit by Russian President Vladimir Putin, will cover artificial intelligence, healthcare, and oil, among other areas.

The Russian Direct Investment Fund (RDIF) and UAE’s sovereign fund have made investments worth over $2 billion in more than 45 projects, the RDIF said in a statement.

Russia struck a similar deal with Saudi Arabian firms earlier this week. RDIF Chief Executive Officer Kirill Dmitriev told Al Arabiya that 14 new agreements worth over $3 billion were signed between the two countries.

“Our countries are successfully developing partnerships in trade, energy, industry, tourism, and even in such a specialized field as the training of cosmonauts,” Dmitriev said in a statement.

President Putin arrived in Abu Dhabi on Tuesday after his first official trip to Saudi Arabia since 2012.

source:John Benny

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”