SparkCognition, a US-based supplier of artificial intelligence (AI) technologies, has opened an office in Dubai as part of a global expansion program that is targeting the Middle East.
Omar bin Sultan Al-Olama, UAE minister of state for AI, said the move cemented Dubai’s vision in becoming a leading hub for cutting-edge technology in AI, part of a strategy that was about building global relationships, he said.
Amir Husain, CEO of SparkCognition, said the opening of a regional hub in UAE showed “we share their vision of rapid and exponential technological advancement”.
Husain added that a relationship with SparkCognition would bring the firm’s industrial Internet of things AI platform “to our clients and partners in the region.”
SparkCognition has recently forged a high-tech alliance with Boeing — a bonus as Boeing had a “strong, established presence in the Middle East and Africa,” said the Texas-based company.
Bernard Dunn, president of Boeing Middle East, North Africa and Turkey, said: “SparkCognition is deploying leading AI technology solutions that are critical to many industries on a global scale. Boeing is excited to see them quickly expand into the Middle East.”
Dunn said the UAE had clear goals to be an innovation and technology leader, investing in AI, 3D printing, robotics, and autonomous systems.
“SparkCognition’s cutting-edge artificial intelligence technology and business-critical solutions will prove invaluable to the forward- looking leaders of the UAE, and many others in the region,” said Dunn.
American AI company lands in Dubai
American AI company lands in Dubai
Saudi stock market opens its doors to foreign investors
RIYADH: Foreigners will be able to invest directly in Saudi Arabia’s stock market from Feb. 1, the Kingdom’s Capital Market Authority has announced.
The CMA’s board has approved a regulatory change which will mean the capital market, across all its segments, will be accessible to investors from around the world for direct participation.
According to a statement, the approved amendments aim to expand and diversify the base of those permitted to invest in the Main Market, thereby supporting investment inflows and enhancing market liquidity.
International investors' ownership in the capital market exceeded SR590 billion ($157.32 billion) by the end of the third quarter of 2025, while international investments in the main market reached approximately SR519 billion during the same period — an annual rise of 4 percent.
“The approved amendments eliminated the concept of the Qualified Foreign Investor in the Main Market, thereby allowing all categories of foreign investors to access the market without the need to meet qualification requirements,” said the CMA, adding: “It also eliminated the regulatory framework governing swap agreements, which were used as an option to enable non-resident foreign investors to obtain economic benefits only from listed securities, and the allowance of direct investment in shares listed on the Main Market.”
In July, the CMA approved measures to simplify the procedures for opening and operating investment accounts for certain categories of investors. These included natural foreign investors residing in one of the Gulf Cooperation Council countries, as well as those who had previously resided in the Kingdom or in any GCC country.
This step represented an interim phase leading up to the decision announced today, with the aim of increasing confidence among participants in the Main Market and supporting the local economy.
Saudi Arabia, which is more than halfway through an economic plan to reduce its dependence on oil, has been trying to attract foreign investors, including by establishing exchange-traded funds with Asian partners in Japan and Hong Kong.
