👋 Good morning, Smashi Business Readers!

Today’s edition spotlights groundbreaking advancements shaping the future of sustainability, technology, and energy. Saudi Arabia has successfully extracted lithium from oilfield runoffs, paving the way for innovative clean energy solutions. In Dubai, the upcoming AI Week 2025 promises to position the UAE as a global leader in artificial intelligence, with transformative discussions and events. Meanwhile, DP World’s issuance of the region’s first $100 million blue bond underscores the growing importance of sustainable financing in maritime projects. These stories highlight the Middle East’s pivotal role in driving progress across critical sectors.

Let’s dive into the details!

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Saudi Arabia Extracts Lithium from Oilfield Runoffs: A Game-Changer in Clean Energy

📰 What is it about?

• Saudi Arabia has successfully extracted lithium from brine runoffs in Aramco's oilfields, marking a pivotal moment in the Kingdom’s efforts to diversify its economy. The project, led by Lithium Infinity (Lihytech), a start-up from King Abdullah University for Science and Technology (KAUST), is in collaboration with Ma'aden and Aramco.

  Key highlights include:

  • Deployment of innovative technology developed by KAUST for direct lithium extraction.

  • Plans to launch a commercial pilot program to scale the extraction process.

  • Utilization of brines from oilfields as a new source of lithium—a critical component for batteries in electric vehicles (EVs) and electronic devices.

💡 Why it matters?

• This initiative aligns with Vision 2030, which aims to reduce the Kingdom's reliance on oil and position it as a leader in renewable energy and advanced technology sectors.

• Lithium is a critical resource for EV batteries, laptops, and smartphones. The extraction positions Saudi Arabia as a strategic player in the global energy transition.

• The project pioneers sustainable lithium extraction from oilfield brines, leveraging advanced technologies to repurpose waste from the fossil fuel industry.

• Collaboration between KAUST, Ma'aden, and Aramco fosters innovation and strengthens the local ecosystem for mining and advanced materials.

• Saudi Arabia joins the ranks of other global oil giants like Exxon Mobil and Occidental Petroleum in exploring brine-based lithium extraction, enhancing its geopolitical and economic leverage in the green energy market.

🔜 What’s next?

• The pilot program will determine the cost-effectiveness of this extraction method, particularly as global lithium prices fluctuate.

• If successful, Saudi Arabia could scale up lithium extraction operations, creating a new revenue stream and supplying the rapidly growing EV and battery manufacturing industries.

• Opportunities for international collaborations with EV manufacturers and tech companies to integrate Saudi lithium into global supply chains.

• Continuous improvement of KAUST’s extraction technology to reduce costs and enhance efficiency, making the process competitive with traditional methods.

• This initiative positions Saudi Arabia as a regional and global leader in clean energy technologies, strengthening its influence in the shift towards a sustainable future.

Markets

Dubai AI Week 2025: A Landmark AI Event in the UAE

📰 What is it about?

• Dubai AI Week 2025, announced by Sheikh Hamdan bin Mohammed, will take place from April 21 to 25, uniting over 10,000 attendees from the public and private sectors.

• This week-long event will host multiple forums, including the AI Retreat, the Dubai Assembly for Generative AI, and the Global Prompt Engineering Championship, offering a Dh1 million prize pool.

• It also features the Dubai AI Festival, the Machines Can See summit, and a schools initiative to educate the next generation on AI. The focus will be on showcasing AI's transformative potential in healthcare, education, sustainability, and entertainment.

💡 Why it matters?

• The UAE, ranked among the top five globally for AI competitiveness, is leveraging this event to solidify its leadership in the global AI ecosystem. Dubai AI Week will:

  • Foster global collaboration on AI innovations.

  • Drive economic growth, with AI projected to contribute 14% to the UAE’s GDP by 2030.

  • Enhance sustainable development, addressing ethical challenges and showcasing AI's role in public safety and environmental conservation.

🔜 What’s next?

• Innovative Partnerships: The event will spark collaborations to integrate AI across industries.

• Talent Development: Initiatives like the schools program will nurture future AI innovators.

• Economic Impact: Continued focus on AI will drive regional and global investment, ensuring the UAE remains a leader in AI-driven transformation.

DP World’s Blue Bond: A Milestone in Maritime Sustainability

📰 What is it about?

• Dubai-based DP World has launched the first $100 million blue bond in the MENA region to fund sustainable maritime and water-related projects. The bond supports UN Sustainable Development Goals and aligns with DP World’s decarbonization and biodiversity strategies. Funds will go towards sustainable marine transportation, port development, and marine ecosystem conservation. Partnering with Citi, the bond achieved a 99.6 basis points premiumover US Treasuries, reflecting strong market confidence.

💡 Why it matters?

• Regional First: The blue bond is the first issuance in MENA, showcasing the UAE’s leadership in sustainability.

• Environmental Impact: Supports global frameworks like the Paris Agreement by addressing ocean pollution and coastal biodiversity loss.

• Economic Innovation: This initiative highlights the growing trend of sustainable finance, combining profit with environmental stewardship.

• Proven Results: DP World’s green investments have already reduced over 177 million kg of CO2 emissions, showcasing the tangible impact of such initiatives.

🔜 What’s next?

• Expanding Green Financing: DP World is likely to issue more sustainable bonds to amplify environmental efforts.

• Scaling Marine Projects: The funds will accelerate innovation in maritime operations, with a focus on renewable energy and conservation technologies.

• Inspiring Others: This sets a precedent for other companies in MENA to adopt blue and green financing models.

🔍In other news…

1. Say hello to competitive e-hailing rates and the luxury of London-style black cabs in Dubai, all thanks to Bolt's partnership with Dubai Taxi Company!

2. e& CEO Hatem Dowidar celebrates the journey with Manchester City, inspiring fans and players to ‘Go for More.’

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