World's Largest Autonomous Racing League Returns with USD $2.25M Prize Pool and Global Expansion - Middle East Business News and Information
Abu Dhabi, UAE – May 2025 – ASPIRE, the driving force behind grand challenges and global competitions for Abu Dhabi's Advanced Technology Research Council (ATRC), today announced the return of its flagship event, the Abu Dhabi Autonomous Racing League (A2RL). The 2025 edition will take place on 15 November at Yas Marina Circuit with a USD $2.25 million prize pool and the launch of a pioneering global virtual racing series.
Following a groundbreaking debut in April 2024, which drew over 10,000 spectators and more than 1 million global streaming views, A2RL Season 2 is back with even greater ambition, expanded international participation, and a bold new platform to advance autonomous mobility.
The announcement was made during the Make it in the Emirates Forum in Abu Dhabi. The Emirates Autonomous Vehicle (EAV 24), A2RL's upgraded autonomous racecar, represents a significant leap in performance and engineering. Assembled and autonomized in the UAE, the vehicle reflects the nation's growing capabilities in AI, robotics, and high-performance mobility. Built on the proven Super Formula SF23 platform, the EAV-24 has been reengineered to incorporate enhanced sensor arrays, upgraded compute systems, and refined control logic, optimized for the demanding conditions of autonomous racing.
This year's league welcomes elite research teams from 10 countries, with the global roster expanding to include France and Japan for the first time, joining a strong line-up of returning teams from the USA, Germany, China, Singapore, Italy, and the UAE. As the world's most advanced competition for autonomous systems, A2RL continues to bridge the gap between simulation and real-world application.
A key innovation this season is the launch of A2RL SIM-Sprint. A series of virtual races designed to fast-track algorithm refinement and test AI systems in diverse conditions, the SIM Sprint extends A2RL into a year-round development ecosystem. By offering a consistent and controlled environment for experimentation, the SIM Sprint allows teams to accelerate the development of their autonomous driving algorithms beyond what is possible through real-world testing alone. It is especially valuable for tackling 'edge cases', rare or extreme scenarios that are difficult to replicate on track but are critical for building resilient AI.
Over time, A2RL aims to open the SIM Sprint to a wider community of participants, including fans, independent developers, and aspiring teams worldwide. A structured progression system – from Sim Academy to Sim Pro, and eventually to real-world A2RL qualification – will provide new pathways for talent to enter the league and contribute to the future of high-performance autonomy.
H.E. Faisal Al Bannai, Advisor to the UAE President for Strategic Research and Advanced Technology Affairs and Secretary General of ATRC, said: 'With A2RL, we're not just testing autonomous technology, we're accelerating its evolution in the most demanding conditions possible. It's a showcase of engineering excellence, but more importantly, a platform for the future of mobility. From high-speed racing to real-world applications, we are demonstrating what's possible when nations invest in deep tech innovation and challenge the world to think faster, build smarter, and compete responsibly.'
Stephane Timpano, CEO of ASPIRE, added: 'By combining the physical thrill of racing with the precision of virtual testing, we're enabling the world's best minds to push the boundaries of AI. This year's expanded league reflects Abu Dhabi's commitment to challenge-driven innovation, where real-world impact is engineered at speed and scale.'
At the heart of the competition is the Dallara Super Formula SF23, a next-generation open-wheel race car that was autonomized exclusively for A2RL. First unveiled in the inaugural race, the SF23 is built from sustainable bio-composite materials, weighs 690 kg, and is the fastest open-wheel race car in the world after Formula One, reaching speeds of up to 300 km/h. Equipped with advanced braking systems, drive-by-wire throttle control, and a custom-built autonomous stack, the SF23 gives each team a state-of-the-art platform to adapt and optimize their AI driving algorithms in the pursuit of peak performance.
Through ASPIRE and under the broader umbrella of ATRC, A2RL continues to position Abu Dhabi as a global leader in high-performance autonomy, transforming the way intelligent systems are developed, tested, and deployed.
About Abu Dhabi Autonomous Racing League:
The Abu Dhabi Autonomous Racing League (A2RL) is a pioneering new series of competition that combines the push for artificial intelligence (AI) innovation through extreme sports. Each year, engineers, programmers, and scientists will come together to develop leading-edge AI for a variety of autonomous vehicles, including cars, drones and buggies, ready to compete in a series of challenges and claim their stake in a multi-million-dollar prize pool.
Organized by ASPIRE, the innovation acceleration arm of Abu Dhabi's Advanced Technology and Research Council, A2RL aims to accelerate the global development of autonomous systems and technologies. It is also intended to help make Abu Dhabi a global R&D hub for autonomous vehicle technology while also inspiring the next generation of STEM talent.
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Mid East Info
5 days ago
- Mid East Info
Tech Mahindra reports EBIT of ₹ 1,477 Crores, up 34% YoY; YoY margins expand by 260 bps; New deal-wins at USD 809 Mn – YoY growth of 51%
Noida – July 16th, 2025: Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries announced the audited consolidated financial results for the quarter ended June 30, 2025. Financial highlights for the quarter (USD) · Revenue at USD 1,564 mn; up 0.4% YoY · EBIT at USD 172 mn; up 30.2% YoY · EBIT Margin 11.1%; up 260 bps YoY · Profit after tax (PAT) at USD 133 mn; up 30.2% YoY · PAT Margin 8.5%; up 190 bps YoY · Free cash flow at USD 86 mn · New deal wins TCV USD 809 mn Financial highlights for the quarter (₹) · Revenue at ₹ 13,351 crores; up 2.7% YoY · EBIT at ₹ 1,477 crores; up 34.0% YoY · Consolidated PAT at ₹ 1,141 crores; up 34.0% YoY · Diluted Earnings per share (EPS) at ₹ 12.86 Other Highlights · Total headcount at 148,517; up 897 YoY · LTM IT attrition at 12.6% · Days of Sales Outstanding 95 days; up 2 days YoY · Cash and Cash Equivalent at the end of the quarter ₹ 8,072 crores Mohit Joshi, CEO and Managing Director, Tech Mahindra, said, 'Our performance is steadily strengthening, reflecting disciplined execution and a focused strategy. Deal wins have increased by 44% on a last twelve months (LTM) basis, supported by broad-based momentum across verticals and geographies.' Rohit Anand, Chief Financial Officer, Tech Mahindra, said, 'We have delivered seven consecutive quarters of margin expansion – a clear reflection of the discipline and focus across our organization. Even in an uncertain environment, our Project Fortius program continues to generate meaningful results and drive operational improvements.' Key Deal Wins Selected as a key 'growth partner' by one of US-based leading consumer wireless operators for its Customer Operations transformation. The designation as a 'growth partner' unlocks the door to all future opportunities as per the client's new sourcing strategy. 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With 148,000+ professionals across 90+ countries helping 1100+ clients, Tech Mahindra provides a full spectrum of services including consulting, information technology, enterprise applications, business process services, engineering services, network services, customer experience & design, AI & analytics, and cloud & infrastructure services. It is the first Indian company in the world to have been awarded the Sustainable Markets Initiative's Terra Carta Seal, which recognizes global companies that are actively leading the charge to create a climate and nature-positive future. Tech Mahindra is part of the Mahindra Group, founded in 1945, one of the largest and most admired multinational federation of companies. For more information on how TechM can partner with you to meet your Scale at Speed™ imperatives, please visit Our Social Media Channels For Further Queries: Gaurav Sethi Head – Investor Relations Phone: +91 9971152508 Email: Rushabh Jain Associate Manager – Investor Relations Phone: +91 9619267252 Email: Abhilasha Gupta Head – Global Corporate Communications & Public Affairs Phone: +91 9717946080 Email: Leah Jena Associate Manager – Corporate Communications Phone: +91 9348920917 Email: Disclaimer Certain statements in this release concerning the future prospects of Tech Mahindra Limited ('the Company' or 'TechM') are forward-looking statements. These statements by their nature involve risks and uncertainties that could cause Company's actual results differ materially from such forward-looking statements. The Company, from time to time, makes written and oral forward-looking statements based on information available with the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
Mid East Info
11-07-2025
- Mid East Info
Network International and Magnati Secure Key Regulatory Approvals for Merger - Middle East Business News and Information
With a combined Total Payment Volume (TPV) of over USD 400 Billion, the merged entity will become the largest fintech company in Middle East and Africa (MEA) DUBAI, UAE –July 2025 – Network International, a leading fintech company in the Middle East and Africa (MEA), and Magnati, a leading provider of payment solutions in the UAE, today announced that they have received key regulatory approvals to merge into a single entity, owned by a Brookfield-led consortium. The merger process is expected to be completed during Q3, 2025. The merged entity will serve over 250 financial institutions, 240,000 businesses and more than 20 million cardholders across more than 50 markets in MEA. With a comprehensive suite of offerings—including digital payments, data and insights, small business lending, and advanced fraud and security solutions, the merged organization is committed to enabling businesses. It will continue to partner with governments to support the digitization of economies and enable financial inclusion in the region. With a focus on innovation, scale, and growth, the combined business is well-placed to capitalize on the fast-growing digital payments adoption by both consumers and merchants in the region, including mobile payments, e-commerce and cross border transactions. It will offer an expanded portfolio of products and services, tailored to meet the needs of customers, from SMEs to large enterprises and government agencies. Both companies will also realize sizable efficiencies and synergies, while expanding their operational reach across the MEA region. 'The combination of Network International and Magnati marks a pivotal moment in shaping the future of fintech in Middle East and Africa,' said Murat Cagri Suzer, Group CEO of Network International. 'By combining our scale, talent, deep market expertise, and strong partnerships, we are creating the region's largest and most capable fintech platform serving businesses, keeping payments at the core of our services. We are poised to unlock long-term growth with innovation and deliver even greater value to our customers, partners and shareholders.' The integration of both businesses will take place in a phased manner, and they will continue to operate as two separate brands, namely Network International and Magnati, for the time being. About Network International: Network International is the Middle East and Africa's largest and leading digital payments company. Our purpose is to help businesses and economies grow by simplifying payments and commerce. We operate in 50+ countries serving governments, banks, fintechs, merchants and public sector companies. We have 2,500+ employees based in our markets serving over 250 financial institutions and 196,000+ merchants. About Magnati: Magnati is a regional leader in the payment solutions industry focused on direct acquiring, issuer processing, and acquiring processing. Magnati provides government, merchant, and institutional clients with an intelligent payments platform, using next-generation technology to deliver improved experiences and increased efficiency. Headquartered in Abu Dhabi, Magnati's expertise and relationships provide a platform for the company to attract international partners while setting a new standard for innovation and delivery in the payments industry.
Mid East Info
08-07-2025
- Mid East Info
Savoye's solution ‘ODATiO WMS' goes live at CJ Logistics fulfilment centre – Phase 1 in SILZ - Middle East Business News and Information
With Saudi Arabia's eCommerce market size expected to reach USD 49.49 billion by 2030, scalable, intelligent logistics infrastructure have become critical. Once fully operational, the warehouse will handle up to 15,000 orders daily with high-speed precision. July , 2025: Savoye, a leading one-stop-shop integrator of automated warehouse solutions and software publisher in the Middle East, has successfully deployed its ODATiO Warehouse Management System (WMS) at CJ Logistics' fulfilment centre for iHerb, located in the Riyadh Integrated zone that is developed and operated by Special Integrated Logistics Zone (SILZ) Company in Riyadh, Saudi Arabia. This successful completion marks a significant achievement as the first WMS implementation within a SILZ facility, a critical initiative under Saudi Vision 2030 designed to position the Kingdom as a leading global integrated logistics hub, and to bolster the Middle East's rapidly growing logistics and e-commerce sectors. Dr. Fadi Bin Saleh Al-Buhairan, Chief Executive Officer of SILZ Company, stated : 'The region's first advanced WMS going live within SILZ marks more than just a technological achievement. It is a powerful embodiment of our vision for the Zone, where we are not merely building infrastructure, but shaping a fully integrated ecosystem where innovation meets ambition. This milestone, achieved in collaboration with Savoye and CJ Logistics, is a testament to our commitment to creating the engine that will empower our partners to raise the bar on logistics efficiency and extend their reach from the heart of the Kingdom to serve global markets.' ODATiO now drives the facility's main operational processes, including receiving incoming goods, conducting quality checks, tracking items at the SKU level, managing stock replenishment, order picking, and outbound shipping — all tailored to meet the specific requirements of iHerb, a health and wellness e-commerce brand. A key feature of Phase 1 is the ODATiO Business Rule Engine, which allows CJ Logistics to set and modify operational rules as needed. This includes setting custom restocking levels, automatically triggering value-added services, and fine-tuning picking methods — ensuring that the operation remains scalable, responsive and under maximum control as requirements evolve. This phase has enabled CJ Logistics to establish a robust digital foundation for managing iHerb's diverse product portfolio, which demands high standards for compliance, quality, and traceability. Alain Kaddoum, Managing Director at Savoye Middle East, said: 'The project sets new benchmarks for eCommerce logistics and reflects our strong commitment to driving innovation and enhancing efficiency across Middle East, specifically in Saudi Arabia's supply chain sector. With the Kingdom's e-commerce market size estimated at USD 27.96 billion in 2025, and expected to reach USD 49.49 billion by 2030, it's clear that scalable, intelligent, and integrated logistics infrastructure is critical. By structuring this deployment into two clear phases, we were able to support CJ Logistics' progressive launch strategy. This flexible approach allowed us to deliver value quickly while setting the foundation for a seamless transition to automation. At Savoye, we believe that innovation must be purposeful, empowering businesses, enhancing scalability, and supporting national ambitions like Saudi Vision 2030'. Phase 2 is scheduled for later this year and will see ODATiO integrated with the facility's automation infrastructure, including X-PTS shuttle systems and zone-to-zone picking. Once fully operational, the site will handle up to 15,000 orders daily with high-speed precision. JJ Woo, General Manager at CJ Logistics, said : 'Savoye has been an exceptionally responsive and collaborative partner throughout this journey. Their ability to adapt to our evolving business needs and timelines has been instrumental in successfully launching this complex project, especially within the high-performance, fast-paced environment of Riyadh Integrated, SILZ's first airport logistics zone'. This implementation reflects the strong alliance between Savoye, CJ Logistics, and SILZ Company—each playing a strategic role in delivering a smart, scalable, and high-throughput logistics operation in the heart of Saudi Arabia. About Savoye: Savoye is an expert in the design and integration of automated and robotic intralogistics systems, as well as a publisher of supply chain execution (SCE) software solutions. Its products and services are deployed in over 40 countries, combining hardware and software, and custom-built solutions to accommodate customer needs. The company specialises in manual, semi- mechanised, mechanised, highly automated, and robotised solutions, and software for the supply chain. Savoye's advanced technological solutions include goods-to-person and goods-to-robot preparation , mobile robot solution , plug and play conveyor , packing machines , automated pallet storage , and picking tools . Savoye also provides after-sale services such as training , project integration, remote support , on-site intervention , preventive maintenance , replacement parts , and cloud services . About CJ Logistics: CJ Logistics is a leading global logistics and supply chain company offering end-to-end services in transportation, warehousing, and fulfilment. Through innovation and partnership, CJ delivers operational excellence to global brands. About iHerb: iHerb is a global e-commerce platform specializing in health, wellness, and personal care products, serving millions of customers across 180+ countries with premium service and fulfilment speed. About SILZ Company – Special Integrated Logistics Zone Company: The Special Integrated Logistics Zone Company (SILZ) is the developer and operator of logistics zones in Saudi Arabia. Leveraging advanced technology, deep industry expertise, and intelligent infrastructure, the company is setting new standards for efficiency and value chain integration. SILZ aims to become the global benchmark for logistics zones by enabling sustainable, future-ready supply chains, supporting businesses operating within the zone, and contributing to economic diversification in line with Saudi Vision 2030. About Riyadh Integrated – The Special Integrated Logistics Zone: Riyadh Integrated is the Kingdom's first logistics zone, strategically located just 8 kilometres from King Khalid International Airport and only 12 minutes from its cargo area. The zone focuses on light industries, logistics services, and trade, offering an integrated ecosystem that includes a one-stop centre, value-added services, and competitive incentives such as a 50-year tax exemption, 100 per cent foreign ownership, and more. It is purpose-built to serve global sectors such as information technology, pharmaceuticals, aviation, and more.
