UAE telecoms and technology company e&, formerly known as the Etisalat Group, has teamed up with industry major Oracle to boost its cloud footprint to support its expansion plans and modernise business applications within the organisation.
The partnership will give Abu Dhabi-based e& access to Oracle's 100-plus cloud services to scale its operations, reduce costs and support its growing portfolio in which artificial intelligence, the Internet of Things and 5G are key components, e& said on Thursday.
The company will retail full control of its data, adhering to the UAE's security, regulatory and data residency requirements.
The collaboration, announced at Oracle's CloudWorld conference in Abu Dhabi, is part of a multi-year transformation programme by e& to consolidate its infrastructure into a shared and open-standard platform.
It falls under e&'s strategy of "transforming its business to support our customers in a new world defined by digitalisation and hyper-connectivity", said Khalid Murshed, chief technology and information officer of Etisalat by e&.
"As we continue to grow, we need to consolidate and simplify our technology infrastructure to make us more agile and adaptable."
Meanwhile, e& has emphasised it will retain "full control of our data governance, giving us the operational agility and scalability we require to support the rapid growth and diversification of our business".
The UAE is boosting the adoption of technology as it seeks to develop the future economy.
This has given global cloud and cyber security providers an incentive to tap into the potential being offered by the country.
The Emirates has also invested heavily in building its IT infrastructure to boost the integrity of its public and private sector systems.
As we continue to grow, we need to consolidate and simplify our technology infrastructure to make us more agile and adaptable
Khalid Murshed,
chief technology and information officer of Etisalat by e&
As part of the implementation of Oracle's services within e&'s structure, the dedicated cloud platform will help e& simplify HR processes, improve employee experience and deliver enhanced workforce insights.
“The implementation will help e& align business strategy with the human resource function, reduce compliance risk and deploy the workforce with greater control through a fully integrated solution that links time, labour, and leave management with payroll, financial and personnel data," said Leopoldo Lama, a senior vice president for business applications at Oracle.
Also at CloudWorld, Oracle signed a framework agreement with Injazat, a technology business that is part of Abu Dhabi's artificial intelligence company G42, to build a dedicated cloud region specifically for entities in the UAE federal government and the emirate's public companies.
The cloud region will give these organisations access to Oracle's cloud applications and infrastructure that comply with top regulatory standards and local laws, the companies said.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
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Al Ain
5pm: Bolereau
5.30pm: Rich And Famous
6pm: Duc De Faust
6.30pm: Al Thoura
7pm: AF Arrab
7.30pm: Al Jazi
8pm: Futoon
Jebel Ali
1.45pm: AF Kal Noor
2.15pm: Galaxy Road
2.45pm: Dark Thunder
3.15pm: Inverleigh
3.45pm: Bawaasil
4.15pm: Initial
4.45pm: Tafaakhor
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
COMPANY%20PROFILE
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Benefits of first-time home buyers' scheme
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The specs
Engine: 6.2-litre V8
Transmission: ten-speed
Power: 420bhp
Torque: 624Nm
Price: Dh325,125
On sale: Now