Bahrain plans multimillion-dollar data hub to boost digital transformation of Arab world

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Updated 08 September 2021
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Bahrain plans multimillion-dollar data hub to boost digital transformation of Arab world

  • A new multimillion-dollar regional data center is set to be built in the Kingdom of Bahrain
  • The initiative’s main hub in Bahrain will serve all member states of the Arab League

A new multimillion-dollar regional data center is set to be built in Bahrain to promote collective digital transformation across the Arab world.

The hub’s aim will be to help evolving local economies and enrich the lives of common people in the Arab world. The Arab League’s Arab Federation for Digital Economy (AFDE) entered into a memorandum of understanding with ATDXT LLC, a digital transformation company, headquartered in the UAE on Sept. 1.

The launch of the first- of-its-kind collaboration, will enable the new data center to focus on localized data protection, enhanced security, and rendering digital transformation solutions. 

The initiative’s main hub in Bahrain will serve all member states of the Arab League. All member countries partaking in the initiative can leverage these solutions hosted in Bahrain, which is a key driver behind the Gulf’s overall digital economy transformation efforts. These solutions will be focused on supporting both government and private sector entities in Arab League member states, with the aim of improving the competitiveness of Arab economies and fostering their integration into the global economy.

The data center will aim to be eco-friendly and to host advanced technologies and digital transformation solutions, servicing Arab League states. These solutions will be extended to also be hosted locally in Arab league member nations such as the UAE, Oman, Saudi Arabia, Morocco, Kuwait, and Jordan in the first phase with other states to follow soon after.

The technology solutions will cover e-government services, e-commerce services, e-health solutions, secure digital tokens and fintech solutions, transportation solutions, digital identity solutions, telecommunication transformation systems, governance, crime management and cyber security systems, e-agriculture platforms, solar and renewable energy, and other business solutions.

GS Murthy, founder & executive chairman, ATDXT Group, said: “We are delighted to partner with the Arab League and incubate the first of its many multi-million-dollar regional hubs, in Bahrain. The focus of this initiative will remain to be on digital transformation enablement, that will improve competitiveness of the Arab nations, and foster their integration into the global economy. We are confident that our best-in-class skill development initiative, focused on cutting edge technologies, will create immense job opportunities and future technology leaders across the Arab nations.”

Bahrain’s Foreign Minister Abdullatif bin Rashid Al-Zayani said: “I appreciate the ATDXT Group for choosing the Kingdom of Bahrain to be the digital transformation solutions hub, reflecting the excellence of the investment environment in Bahrain and the many facilities they provide to investors. This partnership will enable us to contribute to the transformation of the digital outlook of the countries of the Middle-East and to continue to provide leading services to our citizens, residents and region as a whole.”

 Ambassador Hossam Zaki, assistant secretary-general of the Arab League, said: “The League of Arab States along with the Arab Union is actively promoting the joint Arab strategic vision for the digital economy. I’m confident that this partnership will contribute to strengthening Arab cooperation in the digital world.” 


Closing Bell: Saudi main market ends week in red at 11,189

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Closing Bell: Saudi main market ends week in red at 11,189

RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower at the end of the trading week on Thursday, falling 1.34 percent, or 152.54 points, to finish at 11,188.73. 

The benchmark index opened at 11,320.52 and trended lower throughout the session, finishing well below its previous close of 11,341.27.  

Market breadth was sharply negative, with only 28 gainers compared with 236 decliners. Trading activity saw a volume of 239 million shares exchanged, with total turnover reaching SR5.5 billion ($1.47 billion). 

In the parallel market, Nomu closed higher, rising 0.23 percent to 23,865.95, although decliners continued to outnumber advancers. The MT30 index closed at 1,508.60, down 1.46 percent, shedding 22.38 points by the end of the session. 

Among the session’s top gainers, Dar Al Majed Real Estate Co. led advances, rising 5.43 percent to close at SR9.91. 

Al Aziziah REIT Fund added 4.67 percent to SR4.48, while Al Majed Oud Co. gained 2.81 percent to SR161.20. AFG International Co. advanced 2.45 percent to SR17.17, and Al Mawarid Manpower Co. rose 1.37 percent to SR125.70.

On the losing side, Saudi Research and Media Group posted the steepest decline, falling 6.88 percent to SR107. Cherry Trading Co. dropped 6.23 percent to SR28.88, while Saudi Arabian Mining Co. slipped 5.41 percent to SR72.55.  

Almasane Alkobra Mining Co. declined 5.38 percent to SR102, and Power and Water Utility Co. for Jubail and Yanbu ended 4.56 percent lower at SR31.36. 

On the announcements front, Saudi Industrial Investment Group released its interim financial results for the twelve-month period ended Dec. 31, 2025, reporting a return to profitability on an annual basis despite posting a quarterly loss.  

The company recorded a net loss of SR104 million in the fourth quarter, compared with a net profit of SR201 million in the same quarter of the previous year, which it attributed mainly to lower selling prices, higher operating costs, and increased general and administrative expenses.  

For the full year, however, the group posted a net profit attributable to shareholders of SR197 million, compared with SR161 million a year earlier, supported by higher sales volumes and improved operational performance at several subsidiaries. The stock last traded at SR14.77, down 3.59 percent. 

Separately, Saudi Exchange Co. announced the approval of a request by Merrill Lynch Kingdom of Saudi Arabia to terminate its market-making activities for Saudi Arabian Oil Co., effective Feb. 8.

The exchange said the termination relates specifically to the market-making agreement for Saudi Aramco shares and was approved in line with applicable market-making regulations.