Financial sector will continue to play a pivotal role in accelerating the UAE’s gross domestic product by attracting foreign investment and offering promising business opportunities to investors
The collaboration is for feasibility studies that analyse the value of using Hyperloop systems in the UAE, with an initial focus in phase 1 on moving containers from ships docked at DP World's Jebel Ali Port via the Hyperloop tube to a new inland container depot in Dubai. The initial study will focus on efficient handling of containers, costs, benefits, demand and volume patterns of moving cargo using the new technology.
DP World Group chairman and CEO Sultan Ahmed bin Sulayem said: "At DP World, we strive to think ahead and foresee change to create the most efficient, safe and profitable trade solutions. With this collaboration, we're leading innovation in our industry once again and by testing the Hyperloop technology at Jebel Ali for cargo use, we're taking a first step in exploring new ways of enabling trade and underlining Dubai's commitment to innovation."
Rob Lloyd, CEO, Hyperloop One, said: "This partnership allows us to embrace the innovation of the UAE and to utilise the creativity of DP World, while expanding the variety of use cases for Hyperloop. The UAE has taken a leadership role in pushing global transportation solutions to the forefront and we believe that it is the perfect market for Hyperloop."
- business@khaleejtimes.com
Financial sector will continue to play a pivotal role in accelerating the UAE’s gross domestic product by attracting foreign investment and offering promising business opportunities to investors
The market, which is expected to post over Dh100 billion in sales through more than 30,000 transactions in first quarter, will sustain steady increase in transactions and prices throughout the year
She was shopping in Hong Kong, where she was on vacation with her family, when someone spotted her and asked if she'd like to become a model.
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The event highlighted Hilton's innovative ‘Green Ramadan’ initiative and its commitment to sustainable hospitality in Hilton
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Customers can earn miles with every purchase made with any linked payment card across all Union Coop stores and online
People will be trained for a couple of months before they are able to drive and fly it