SABIC Solutions Win 5 Edison Awards for Best New Products

SABIC has been awarded five of the prestigious Edison Awards 2023. (SABIC)
SABIC has been awarded five of the prestigious Edison Awards 2023. (SABIC)
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SABIC Solutions Win 5 Edison Awards for Best New Products

SABIC has been awarded five of the prestigious Edison Awards 2023. (SABIC)
SABIC has been awarded five of the prestigious Edison Awards 2023. (SABIC)

SABIC, a global diversified chemicals company, has been awarded five of the prestigious Edison Awards 2023 for its innovative solutions, designed to meet the needs of their customers and the broader value chain, and as well aligned with Saudi Vision 2030, reported the Saudi Press Agency on Friday.

SABIC won three gold and two bronze awards across three separate areas for its new products and solutions. These areas include “Food and Agriculture”, “Material Science” and “Sustainability.”

The awards reflect SABIC’s commitment to pushing the limits of science, technology, and innovation and defining the future of chemistry that allows SABIC and its customers to address some of the world’s biggest challenges.

This is the third consecutive year that SABIC’s solutions have been recognized by Edison Awards, which honor the world’s most innovative new products, services, and business leaders. This is also the second consecutive year that SABIC received at least five Edison awards.

“SABIC is proud to be recognized for the third consecutive year by Edison Awards, demonstrating our continued leadership in new technology and innovation advancements. These are key elements of our continued business growth on our journey to be the preferred world leader in chemicals and provide innovative solutions for the future that create a more sustainable world,” said Abdulrahman Al-Fageeh, CEO at SABIC.



Dubai to Allow Residents Pay Government Services Using Cryptocurrency

Dubai’s Department of Finance signed on Monday a new MoU with global digital asset platform Crypto.com. WAM
Dubai’s Department of Finance signed on Monday a new MoU with global digital asset platform Crypto.com. WAM
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Dubai to Allow Residents Pay Government Services Using Cryptocurrency

Dubai’s Department of Finance signed on Monday a new MoU with global digital asset platform Crypto.com. WAM
Dubai’s Department of Finance signed on Monday a new MoU with global digital asset platform Crypto.com. WAM

Dubai is preparing to allow residents to pay for government services using cryptocurrency, signaling the emirate’s intent to support the Dubai Cashless Strategy.

On Monday, Dubai’s Department of Finance (DOF) signed a new memorandum of understanding (MoU) with global digital asset platform Crypto.com, in the presence of Abdulla Al Basti, Secretary General of The Executive Council of Dubai, and Abdulrahman Al Saleh, Director General of DOF.

The initiative, formalized during the Dubai FinTech Summit, will enable seamless and secure payments for government services using stable cryptocurrencies, further strengthening Dubai’s position as a global hub for financial innovation.

Al Basti said that adopting secure cryptocurrency solutions within the Government of Dubai’s payment system reflects a proactive approach to anticipating future needs and responding to global economic and financial developments.

“We take great pride in Dubai Finance’s pivotal role in driving the Dubai Cashless Strategy and shaping a distinctive digital financial future,” said Al Saleh.

The Dubai Cashless Strategy aims to conduct more than 90% of financial transactions across both the public and private sectors through cashless methods by 2026.

“We underscore the significance of the MoU with Crypto.com in accelerating the strategy’s objective,” Al Saleh said.

President and COO of Crypto.com Eric Anziani said this initiative will enable the delivery of the first comprehensive and holistic Government-wide implementation of payment digitization.

Once the necessary technical arrangements for the agreement’s activation are finalized, individuals and businesses customers of government entities will be able to pay service fees seamlessly through Crypto.com's digital wallets.

The platform will securely convert these payments into Emirati dirhams and transfer them to Dubai Finance accounts, ensuring a streamlined, secure, and innovative payment framework.

The Dubai Cashless Strategy is expected to drive economic growth by adding at least 8 billion dirhams ($2.1 billion) annually to the economy, fueled by the development of a wide range of innovative financial technology services and the accelerated expansion of Dubai’s fintech sector.