Saudi Arabia’s Elm to acquire Thiqah from PIF for $907m
The fund said that the deal will strengthen the local ICT sector, contributing to its goal of creating high-skilled jobs and driving economic growth through digital transformation
Saudi Arabia’s Public Investment Fund (PIF) said on Wednesday that it is selling business services firm Thiqah to Elm for $907m (SAR3.4bn) as the wealth fund seeks to boost its coffers to ramp up local investments to accelerate the kingdom’s economic diversification programme.
Information and communications technology (ICT) is a priority investment sector for PIF. The fund emphasised that the deal will strengthen the local ICT sector, contributing to its goal of creating high-skilled jobs and driving economic growth.
The acquisition is expected to close once regulatory approvals are received and certain conditions under the agreement are met. Elm said in a bourse filing that it would fund the deal in cash through its own resources and facilities.
Thiqah is wholly owned by PIF, which also holds a 67 per cent stake in Elm after it sold shares in the company in an initial public offering in 2022. Elm’s stock has risen over 800 per cent since then.
Elm expects the acquisition to support its strategic growth plan and strengthen its position as a key player in Saudi Arabia’s digital services market. By expanding its market reach and offering a wider array of complementary services, the company can better serve its existing customers and capitalise on the growth of key market segments.
“PIF’s sale of Thiqah to Elm will contribute to enhancing the vital role of the ICT sector and will strengthen efforts to localise technology and drive innovation,” Shahd Attar, head of Technology and Media, MENA Investments at PIF.
Meanwhile, PIF, which has nearly $1tn in assets under management, is the main engine of Prime Minister and Crown Prince Mohammed bin Salman’s strategy to wean Saudi Arabia’s economy off its dependence on the oil that made it one of the world’s wealthiest nations.
The plan, known as “Vision 2030”, aims to develop new sectors and create more sustainable revenue streams. Since 2017, the $925bn sovereign fund has created 95 new companies and over 644,000 direct and indirect jobs.
Last October, PIF Governor Yasir Al Rumayyan said that the fund’s focus was shifting to the domestic economy as it looked to develop new industries and promote economic diversification. The fund raised SAR3.86bn from selling a 2 per cent stake in telecoms firm stc Group in November.
Eco-Sphere at Arab Health 2025: Where wellness meets environmental responsibility
The Eco-Sphere will feature a series of in-depth discussions and presentations led by thought leaders in both the healthcare and sustainability sectors
Arab Health, the largest healthcare exhibition in the Middle East, is set to return on January 27-30, showcasing the latest medical technologies and innovations across the healthcare industry.
The event, which will be held at Dubai World Trade Centre, has long been recognised as a vital meeting point for the global healthcare industry as it celebrates its 50th anniversary this year.
As it has for decades, the event will offer unparalleled opportunities for networking, learning, and discovering the latest in healthcare technology.
The event will bring together thousands of medical professionals, industry leaders, and innovators from across the globe, all eager to explore the future of healthcare.
Image credit: Arab Health 2025 Website
Among the various highlights of the 2025 edition, The Eco-Sphere zone promises to bring a fresh perspective to the future of healthcare.
Eco-Sphere at Arab Health 2025
The Eco-Sphere, situated in the newly expanded Al Mustaqbal Hall, will be a dedicated platform for examining the critical issue of sustainability in healthcare. As the world faces increasing environmental challenges, the healthcare industry is beginning to realise the urgency of adopting greener practices.
This year’s focus will be on how healthcare systems and institutions can reduce their carbon footprints, minimise waste, and implement sustainable solutions in everyday operations, from facility management to patient care.
A powerful platform
One of the key features of the Eco-Sphere will be a series of in-depth discussions and presentations led by thought leaders in both the healthcare and sustainability sectors as part of two events. These include:
World of Wellness: A two-day conference exploring all things wellness including topics such as longevity, reverse ageing, and biohacking. Interactive sessions and dynamic presentations from forward-thinking innovators will also dive into the power of wearable devices, telemedicine and many more wellness tools to improve your daily lifestyle.
Healthcare ESG Forum: A groundbreaking new conference delivering valuable insights and actionable strategies that address the pressing challenges and opportunities presented by the rising relevance of environmental, social, and governance (ESG).
The conference will delve into the role of eco-friendly technologies in healthcare, examining everything from sustainable building materials for hospitals and clinics to the role of renewable energy in powering healthcare facilities.
The forum will examine the critical issue of sustainability in healthcare. As the world faces increasing environmental challenges, the healthcare industry is beginning to realise the urgency of adopting greener practices.
These include EmpowHer: Women in Healthcare, Digital Health & AI, and the Healthcare Investment Summit.
The new conferences reflect Arab Health’s continued dedication to driving innovation, promoting sustainability, and fostering inclusivity within the healthcare sector.
UPDATE: Samsung on Wednesday night officially unveiled its new AI-powered S25 smartphones, and it teased a slimmer Galaxy Edge. Read mere by clicking here.
The tech world’s eyes are on San Jose, California, as Samsung hosts its first Galaxy Unpacked event of 2025.
Scheduled for Wednesday evening, the event is already generating buzz with the anticipated reveal of the Galaxy S25 series and hints of new AI-driven technology. Here’s what you can expect from Samsung’s latest showcase and how to tune in.
How to watch Galaxy Unpacked 2025
The event kicks off at 10 pm UAE time and will be streamed live on Samsung’s YouTube channel and official website, giving fans a front-row seat to the company’s announcements. You can watch events unfold on the link below.
What’s on the horizon at Galaxy Unpacked?
1. Galaxy S25 series
Samsung’s flagship Galaxy S25 lineup is poised to steal the show, introducing three models: Galaxy S25, S25 Plus, and S25 Ultra. Each promises new technology and design enhancements.
Galaxy S25: The base model features the advanced Snapdragon 8 Elite chipset, Qi2 wireless charging, and enhanced AI functionalities. A refreshed design is also expected, building on the sleek aesthetics of its predecessor. Pre-orders are anticipated to go live immediately, with a release date rumoured for February 7.
Galaxy S25 Plus: A step up from the standard version, the S25 Plus will boast a larger screen, bigger battery, and faster wired charging – making it an attractive option for users who crave more screen real estate without opting for the Ultra.
Galaxy S25 Ultra: Samsung’s pinnacle offering will take the flagship concept to new heights. Featuring an ultrawide camera with higher resolution, premium materials, and top-tier specifications, the S25 Ultra is set to redefine the non-foldable smartphone market in 2025.
2. One UI 7
The Galaxy S25 series will debut with One UI 7, Samsung’s latest software innovation based on Android 15. It introduces the “Now Bar,” an intuitive feature aimed at simplifying notifications and task management. Combined with new Galaxy AI tools, One UI 7 is designed to deliver a smarter, more personalised user experience.
3. Galaxy AR: Project Moohan
While smartphones take centre stage, Samsung’s foray into augmented reality might make waves too. The long-teased Project Moohan AR headset could finally take a bow. Developed in collaboration with Google and Qualcomm, the headset is expected to mark Samsung’s bold entry into the AR market, with the event serving as an ideal platform for its unveiling.
Samsung is a global powerhouse in consumer electronics, with its reach spanning over 180 countries and a product portfolio that caters to diverse markets.
From its flagship Galaxy smartphones to its pioneering smart home devices and cutting-edge semiconductor technology, the South Korean giant has consistently set industry benchmarks. Leveraging its innovation-driven strategy and robust supply chain, Samsung commands a leading position in markets such as the UAE, where it caters to tech-savvy consumers who are increasingly demanding the latest in connectivity and AI-driven solutions.
From left to right: Ahmed Khalid Al Khatib (group MD of NAFFCO Group), Eng. Khalid Al Khatib (CEO of NAFFCO Group), Ali Khalid Al Khatib (group MD of NAFFCO Group).
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The year 1991 marked the beginning of NAFFCO Group.
Starting with just 15 employees and a modest facility manufacturing basic fire extinguishers, NAFFCO Group now stands as a global powerhouse and the world’s No. 1 total solutions provider in the fire and safety space. With over 15,000 employees and state-of-the-art facilities spanning 10.5 million square feet, the company’s journey is a masterclass in transformation.
“At our inception, it was about saving lives,” recalls Chief Executive Officer Eng. Khalid Al Khatib. Khalid’s journey into fire safety started long before NAFFCO Group’s inception. “From the beginning, we focused not just on manufacturing products but on building trust and delivering solutions that truly protect lives,” he says. From pioneering high-pressure CO2 cylinder manufacturing in 1998 to redefining UAE safety standards in 2004, NAFFCO Group’s evolution exemplifies adaptability and foresight.
Khalid’s leadership style embraces grit, efficiency, and innovation. “Success is more than innovation,” he states. “It’s persistence through setbacks and the determination to thrive under pressure.” NAFFCO Group’s innovative spirit has led to custom-engineered safety solutions catering to diverse sectors — from healthcare to high-rise buildings. Today, its products and services range from fire alarms and sprinklers to AI- and IoT-powered safety systems.
Over the years, NAFFCO Group has contributed to iconic projects such as the Burj Khalifa, which required designing a gravity-fed sprinkler system unique to the world’s tallest structure. The Dubai Metro stands as another testament to the company’s capabilities, integrating comprehensive fire detection and suppression systems for the transport network. NAFFCO Group’s impact extends beyond borders too. In Bangladesh, the company modernised fire safety across 3,000 factories, significantly reducing fire-related fatalities. In Senegal, their deployment of turnkey fire safety solutions elevated industrial safety standards, benefiting economies and protecting lives. Their contributions also include large-scale industrial complexes, international airports, oil and gas industries, and marine projects.
Eng. Khalid Al Khatib, CEO of NAFFCO
Khalid notes that every environment poses unique challenges, but innovation has always been at the core of NAFFCO Group’s approach. From addressing rust issues in conventional piping by replacing them with high-density polyethylene pipes to developing advanced firefighting vehicles for critical applications, the company continues to push boundaries. Khalid credits much of NAFFCO Group’s growth to the unwavering commitment of its team. “From a single facility to a global operation of 15,000 employees serving over 100 countries, our progress is a testament to resilience, adaptability, and a relentless pursuit of excellence,” he adds, reflecting on the company’s journey as one of the world’s leading producers and suppliers of top-tier firefighting equipment, fire protection systems, fire alarms, and security and safety engineering systems. NAFFCO Group has positioned itself as a one-stop total solutions provider, catering to diverse industries worldwide.
Leadership transition
After establishing itself as a global leader, the baton of leadership at NAFFCO Group is transitioning. Khalid Al Khatib is increasingly entrusting the future of his company to his sons, Ahmed and Ali. “Ahmed and Ali have been part of the journey from the beginning, contributing significantly to NAFFCO Group’s growth,” says Khalid.
Ahmed Khalid Al Khatib, Group Managing Director at NAFFCO Group, with over a decade of experience, plays a pivotal role in managing operations across the NAFFCO Group. He is transforming global safety standards through advanced engineering, innovative practices, and a commitment to sustainability. With expertise cultivated over the past decade, Ahmed seamlessly integrates high-tech safety systems with efficient manufacturing processes, driving strategic growth and establishing new facilities in key markets such as the UAE, USA, KSA, Qatar, and Egypt.
Ali Khalid Al Khatib now leads as Group Managing Director, with a focus on driving global expansion and overseeing vehicle manufacturing and worldwide operations. Under his watch, NAFFCO Group has strengthened its foothold in over 100 countries across five continents. His efforts have been instrumental in aligning NAFFCO Group’s offerings with local regulations while maintaining its commitment to exceeding global standards.
Ahmed Khalid Al Khatib, group managing director, NAFFCO Group
The brothers’ leadership has introduced a renewed energy into NAFFCO Group. “It’s inspiring to work alongside a new generation of leaders who share the same passion for innovation and excellence,” says Eng. Khalid. Under Ahmed’s leadership, NAFFCO Group has pioneered cutting-edge solutions across diverse sectors, including firefighting equipment, fire alarm systems, fire doors, security solutions, flow control, modular systems, cladding, smoke management, and oil and gas safety. Notable innovations include IoT-enabled safety technologies that integrate real-time monitoring, predictive maintenance, and automated alerts, shifting safety management from reactive to proactive. “Through AI integration, we are creating solutions that anticipate and address issues before they escalate,” Ahmed shares.
Ali’s contributions to expanding NAFFCO Group’s manufacturing capabilities have been equally transformative. With new facilities in Saudi Arabia, Australia, the UAE, USA, and India, the company is poised to meet growing global demands. “Scaling up is not just about numbers; it’s about maintaining quality at every step,” Ali explains. The establishment of a 1.9 million sq. ft. manufacturing plant for ARFF vehicles, firefighting trucks, and ambulances underscores this commitment. “These vehicles are not just products; they’re lifelines in critical environments,” Ali adds.
Eng. Khalid reflects on this transition with pride. “The foundation we built is strong, but it’s the vision of the next generation that will take NAFFCO Group to even greater heights,” he says.
Global expansion and impact
NAFFCO Group’s global footprint now spans over 100 countries, supported by manufacturing facilities in the UAE, UK, US, Australia, Qatar, KSA, Egypt, and India. This vast network reflects the company’s commitment to delivering fire safety solutions at a scale unmatched in the industry. “Our mission has always been to ensure safety wherever it’s needed,” says Ali. “Each manufacturing facility represents our dedication to quality, efficiency, and innovation.” Their flagship facility, a 950,000 sq. ft. ARFF chassis plant, epitomises this ambition, producing custom-built vehicles for critical environments. “We set the benchmark in fire safety,” Ali notes, highlighting their annual production capacity of 5,000 vehicles.
Ali Khalid Al Khatib, group MD of NAFFCO Group.
The company’s landmark achievements include the iconic Burj Khalifa, Dubai World Central International Airport, Dubai Metro and Trams, Museum of the Future, Louvre Abu Dhabi, Expo 2020 Dubai, Qatar Metro, and many more. Each project posed unique challenges, which were met with bespoke solutions. “For Expo 2020, we integrated safety systems that complemented the event’s futuristic architectural vision,” Ahmed explains.
The commitment to training extends to community outreach. NAFFCO Group’s free certifications for engineers aim to elevate safety standards across regions. “Education is a pillar of safety,” Eng. Khalid explains. “When individuals are informed and skilled, entire communities benefit.”
Sustainability is at the heart of NAFFCO Group’s innovations. From developing fluorine-free foam extinguishers to manufacturing high-density polyethylene pipes that eliminate rust and last over 50 years, the company demonstrates its commitment to the environment. Its range of hybrid-electric fire trucks and eco-friendly firefighting foams sets benchmarks in reducing carbon footprints.
Future vision and strategy
Ahmed’s focus on technological leadership extends to advanced training programmes, training over 2,500 professionals annually. The introduction of VR-based training modules has significantly enhanced preparedness for high-risk scenarios, ensuring that trainees are equipped with the skills to make a real difference. Alongside training, Ahmed oversees critical operational areas, including procurement, where efforts are focused on reducing the cost of raw materials without compromising quality.
The company’s ambitious expansion, supported by new R&D, will bolster its capacity for projects like flood management vehicles capable of relocating water in disaster-stricken regions. “Innovative solutions are the cornerstone of our growth,” Ali remarks. Continuous improvement is a core tenet of NAFFCO Group’s philosophy. “We believe in learning from every project and using that knowledge to innovate further,” says Ali. Sustainability initiatives, like eco-friendly fire suppression agents and hybrid rescue vehicles, further reinforce the company’s forward-thinking approach.
NAFFCO Group’s in-house capabilities, from design to production, ensure rigorous quality control. This dedication is reflected in the company’s growing list of accolades for innovation and sustainability. “Every accolade is a reminder of our responsibility to lead by example,” Eng. Khalid says.
The company’s vision extends beyond products and systems to encompass global safety advocacy. By introducing advanced analytics and AI into fire safety systems, NAFFCO Group is shaping a future where technology and human expertise work seamlessly together. “We’re not just meeting today’s needs; we’re shaping tomorrow’s standards in saving lives, environment, and property,” Eng. Khalid concludes.
Read this article in the latest edition of Gulf Business Leaders:
Everything you need to know about Arab Health 2025
As part of their 50th anniversary this year, the organisers have tailored their tickets and their prices according to the needs and requirements of the visitors
Arab Health 2025 is a must-visit event for anyone in the healthcare industry, offering an unparalleled platform to engage with the world’s largest and fastest-growing markets.
Happening between 27-30 January, the event connects industry professionals and innovations in healthcare on a single platform.
Celebrating its 50th anniversary, Arab Health 2025 will also feature over 40 country pavilions, including first-time participants Morocco and Latvia, and attract representatives from 180 countries.
Set against the backdrop of a rapidly expanding global healthcare market, projected to reach $780bn by 2030, Arab Health 2025 has cemented its role as a catalyst for innovation and growth. It introduces the Al Mustaqbal Hall exhibitor zone, showcasing cutting-edge solutions from first-time exhibitors such as Daigo, Fapomed, and Global Medical Technology. Expanded participation from major players such as the UK, Saudi Arabia, the US, China, and India ensures attendees access the best insights, partnerships, and technologies shaping the future of healthcare.
As Ross Williams, Group Event Director at Informa Markets, noted, Arab Health has evolved from a regional event to a global beacon of healthcare collaboration over its five decades.
The organisers have tailored their tickets and their prices according to the needs and requirements of the visitors.
The tickets are categorised into:-
Standard
Discovery
Experience
What each of the tickets offers the visitors
Standard tickets
Cost: Dh199
Access to the show floor
Access to The Village
Basic access to the event planner app
Discovery tickets
Cost: Dh299
Access to the exhibition floor
Access to recreational space, The Village
Basic access to the event planner app
Premium access to the event planner app
Access to show floor features and sessions
Access to dedicated networking areas
Access to exclusive Global Industry reports
Experience
Cost: Dh399
Access to the exhibition floor
Access to recreational space, The Village
Basic access to the event planner app
Premium access to the event planner app
Access to show floor features and sessions
Access to dedicated networking areas
Access to exclusive Global Industry reports
Fast-track entry through registrations
Early access add-on (1 hour access beginning of each day)
Priority seating in all show floor sessions
Early Access add-on
This category gives the visitors an extra hour at the event, at the beginning of each day for Dh69.
Visitors can have the ‘early Access’ added to their Standard as well as the Discovery tickets.
However, early access is already included in the Experience tickets.
Abu Dhabi updates timings for heavy vehicle movement to ease traffic
Effective January 27, 2025, the updated policy restricts the movement of freight vehicles, trucks, tankers, and heavy equipment during peak hours on weekdays and Fridays
The Integrated Transport Centre (Abu Dhabi Mobility), part of the Department of Municipalities and Transport, has announced new restrictions on the movement of heavy vehicles in Abu Dhabi city to improve traffic flow and enhance road safety.
Abu Dhabi Mobility is working closely with the Abu Dhabi Police General Headquarters to ensure compliance with the new rules.
Effective January 27, 2025, the updated policy restricts the movement of freight vehicles, trucks, tankers, and heavy equipment during peak hours on weekdays and Fridays.
List of updated timings for heavy vehicle movement in Abu Dhabi
The updated hours will apply from Monday to Thursday, with restrictions in place from 6:30 am to 9 am in the morning and again from 3 pm to 7 pm.
On Fridays, heavy vehicles will be prohibited from 6:30 am to 9 am and 11 am to 1 pm. These measures aim to mitigate the impact of heavy vehicles interacting with lighter traffic during peak periods, a situation which can lead to fluctuating vehicle speeds, traffic accidents, and congestion.
