DUBAI: Vice President and Prime Minister of the UAE and Ruler of Dubai Sheikh Mohammed bin Rashid Al-Maktoum Friday opened a temporary “Museum of the Future” as part of the 2018 World Government Summit that is set to run between Feb. 11-13 in Dubai.
The museum offers visitors an interactive experience about the future of artificial intelligence (AI) and presents exhibitions on how it could impact different aspects of life in years to come.
The Dubai ruler was accompanied by Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al-Maktoum on the tour.
Sheikh Mohammed shared his vision for the future of the UAE, saying: “The Museum of the Future is a unique incubator for futuristic innovations and design… We are determined to make the UAE a major contributor to future development.
“The UAE government sets an example to the governments of the world in adopting technological advancements as a driver for development. AI is key when we speak about tackling future challenges,” he added.
The soon-to-be-opened permanent version of the museum will open its doors in 2019 and is currently still in the construction phase. It is set to be an incubator for futuristic innovations and design.
Dubai ruler opens temporary ‘Museum of the Future’ as part of World Government Summit
Dubai ruler opens temporary ‘Museum of the Future’ as part of World Government Summit
Stc Group issues US dollar-denominated sukuk with a total value of $2bn
RIYADH: Stc Group has issued US dollar-denominated sukuk with a total value of $2 billion across two tranches.
The group clarified that the issuance included the offering of $750 million in sukuk with a 5-year maturity at a yield of US Treasury plus 75 basis points, and an issuance of $1.250 billion with a 10-year maturity at a yield of UST plus 90 basis points, according to the Saudi Press Agency.
It noted that the total order book exceeded $8 billion across both tranches, with a coverage rate exceeding 4 times, and participation from over 300 investors in the subscription.
The issuance garnered strong demand from a broad and diverse base of international investors, reflecting solid confidence in the robustness and efficiency of stc Group’s business model and strategy.
This strategy is aimed at strengthening its digital leadership, seizing infrastructure opportunities, enabling massive projects, and contributing to the realization of Vision 2030 objectives, with a focus on achieving sustainable growth based on operational efficiency and maximizing shareholder value.
This issuance enhances stc Group’s access to international capital markets and solidifies investor confidence in the strength of its credit position.
It also supports its strategic role in accelerating the pace of digital transformation in the Kingdom and building a thriving digital economy.
