Smartkas, an agricultural technology company in the Netherlands, and the Hamad Bin Khalifa Department of Projects have formed a joint venture to develop hi-tech farms in the UAE.
As part of the deal, Smartkas will transform the desert sand into “smart greenhouses” using the latest technology such as artificial intelligence, cloud computing, drones and robotics to help boost food security in the UAE and across the GCC, the two companies said on Sunday.
“Food security is among the top priorities for the Emirates, especially after the devastating impact of Covid-19. Our joint venture with Smartkas will bring about the future of agriculture in the UAE,” Sheikh Hamad Bin Khalifa, chairman of HBK DOP, said.
Smartkas, which recently gained recognition at a European start-up contest for its innovative agricultural solutions, is planning to build a research and development centre in Toulouse, France, to carry out research on artificial pollination, full automated harvests and new generation farming based on AI.
“The mission of Smartkas is to make access to food and water a basic human right. This is why we partner up with the market leaders instead of competing with them; we focus on sharing and scaling together,” said David Meszaros, chief executive and founder of Smartkas.
HBK DOP was founded by Sheikh Hamad to handle project investments and enter into joint venture partnerships that focus on sustainability and job creation.
The Dubai company intends to develop projects in the Middle East, Africa, India, Russia, Central Asia, Hong Kong and Mexico.
Food security was priority for many Gulf nations even before the onset of the coronavirus pandemic, which disrupted global supply chains.
Gulf countries import as much as 90 per cent of the food they consume, according to think tank Chatham House.
Earlier this year, Pure Harvest Smart Farms, an Abu Dhabi agricultural technology company, secured a multistage investment commitment of $100 million from Kuwait's Wafra International Investment Company to fund hiring and a massive expansion of its sustainable greenhouses in Kuwait and across the wider region, including the UAE and Saudi Arabia.
The UAE is also focused on developing the sector.
Last year, Abu Dhabi launched a Dh1 billion ($272m) programme to support the establishment of agri-tech companies in the emirate, as part of the Ghadan 21 stimulus package.
The programme involves both cash and non-cash incentives being made available to make it easier for both local and global agri-tech companies to expand.
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The five new places of worship
Church of South Indian Parish
St Andrew's Church Mussaffah branch
St Andrew's Church Al Ain branch
St John's Baptist Church, Ruwais
Church of the Virgin Mary and St Paul the Apostle, Ruwais
Why seagrass matters
- Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
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UAE currency: the story behind the money in your pockets
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'Worse than a prison sentence'
Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.
“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.
“They were living in perpetual mystery as to how their futures would pan out, and what that would be.
“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.
“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.
“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”
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Building boom turning to bust as Turkey's economy slows
Deep in a provincial region of northwestern Turkey, it looks like a mirage - hundreds of luxury houses built in neat rows, their pointed towers somewhere between French chateau and Disney castle.
Meant to provide luxurious accommodations for foreign buyers, the houses are however standing empty in what is anything but a fairytale for their investors.
The ambitious development has been hit by regional turmoil as well as the slump in the Turkish construction industry - a key sector - as the country's economy heads towards what could be a hard landing in an intensifying downturn.
After a long period of solid growth, Turkey's economy contracted 1.1 per cent in the third quarter, and many economists expect it will enter into recession this year.
The country has been hit by high inflation and a currency crisis in August. The lira lost 28 per cent of its value against the dollar in 2018 and markets are still unconvinced by the readiness of the government under President Recep Tayyip Erdogan to tackle underlying economic issues.
The villas close to the town centre of Mudurnu in the Bolu region are intended to resemble European architecture and are part of the Sarot Group's Burj Al Babas project.
But the development of 732 villas and a shopping centre - which began in 2014 - is now in limbo as Sarot Group has sought bankruptcy protection.
It is one of hundreds of Turkish companies that have done so as they seek cover from creditors and to restructure their debts.
HOSTS
T20 WORLD CUP
2024: US and West Indies; 2026: India and Sri Lanka; 2028: Australia and New Zealand; 2030: England, Ireland and Scotland
ODI WORLD CUP
2027: South Africa, Zimbabwe and Namibia; 2031: India and
Bangladesh
CHAMPIONS TROPHY
2025: Pakistan; 2029: India
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UAE currency: the story behind the money in your pockets
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Porsche Taycan Turbo specs
Engine: Two permanent-magnet synchronous AC motors
Transmission: two-speed
Power: 671hp
Torque: 1050Nm
Range: 450km
Price: Dh601,800
On sale: now
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Engine: twin-turbocharged 3.5-liter V6
Power: 450hp
Torque: 700Nm
Price: From Dh450,000, Autograph model from Dh510,000
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Engine: 2.0-litre 4cyl turbo
Power: 261hp at 5,500rpm
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Transmission: 9-speed auto
Fuel consumption: 6.9L/100km
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