The California-based startup – Phantom Auto utilizes advanced technology to offer remote operation for vehicles in far-off places. The company has bagged a deal with Mitsubishi Logisnext Co where the drivers can operate forklifts sitting in one place. The company offers software that makes it easier to control the vehicles that are in a different location using remote operation.

The innovative technology will help the manufacturing industry as there is a massive difference in demand and supply. Lay-offs have been trending in the non-essential manufacturers as there is a halt in the operations and the manufacturers of the essential products are getting accustomed to the change with few employees. As per a study, the manufacturing labor shortage is estimated at 2.4 million by 2028. Due to restrictions caused by the pandemic there can’t be any sudden fix for the problem.

The global market for forklifts is over $ 45 billion and Kyoto -based Mitsubishi Logisnext is the third-largest company in the sector. The deal between Phantom Auto and Mitsubishi allows the drivers to manage the work remotely to move forklifts around a warehouse in California.

With this shift, there will be efficient workers available to work overcoming the geographical limitations. With the new technology forklift operation costs can be reduced by 30% or more.

Most of the countries, especially the U.S and Japan are grappling with the labor crunch. As there is a surge in the e commerce businesses for consumer goods there is a high need for the warehouses and distribution centers to get on track and boost their operations. Such software is required at these unprecedented times where there is a lack of workers and fear of the pandemic.

Phantom Auto invested nearly $20 million in the new technology; it plans to scale up the revenue with this deal. Additionally, the plan for future deployment in autonomous vehicle fleets can be augmented.

The company wants to secure self-driving vehicles in the future against uncertainties; in case there is any glitch that needs to be addressed, the humans on standby can control and navigate the vehicle. The company plans to use the same technology that it is integrating with the logistics in future robot taxis. Therefore the self drive segment will not have major deployment.

The revolutionary company in space technology that designs, builds, manufactures, and launches highly innovative space rockets by Elon Musk launched a network of satellites – Starlink which is an internet provider. The new venture of launching satellites that operates at 550km above the Earth’s surface in low Earth orbit promise to offer fast internet connectivity to all the users. Earlier this year, SpaceX raised funds for a $74 billion valuation.

The most used search engine – Google bags a deal to offer cloud services to SpaceX. On Thursday Google announced the deal of providing the data centers to SpaceX. As per the deal, the ground stations of SpaceX will be placed in the Google data centers which will offer the highest internet speed by being connected to SpaceX’s Starlink satellites. The service is planned to commence in the second half of 2021. Google invested in the SpaceX project of $1 billion in 2015. 

The internet giant will begin its journey to amplify its share in the cloud computing market before its rivals Amazon and Microsoft.

This deal will attract more investors and being a unique deal in itself it depends on Google’s internal network that connects data centers. The amalgamation demonstrates the potential of the technology by combining cloud with secure connectivity. Until this deal, all the clients reaped benefits from Google’s computing and storage capabilities while this is the first venture to explore Google’s networking capabilities.

 In the first quarter of 2021, the overall Cloud infrastructure services grew 35 percent to US$41.8 billion as per the Canalys report. In the previous quarter, Google Cloud grew 56 % accounting for a 7 percent market share while Microsoft Azure continued to grow to account for 19 percent market share.

The growing needs of customers and the connectivity innovation led to huge interest in 5G connectivity. The cloud providers, therefore, have been keen on the telecommunications industry. To address these needs Amazon teamed up with Dish – a satellite TV network company to expedite the process of offering 5G service to consumers.

The satellite network connectivity is very useful for people in remote regions. However, Microsoft also is planning to join SpaceX by providing modular Azure cloud data centers for Starlink internet.

The virtual uptrend of any industry is through the robust technology – Artificial Intelligence. The impact is seen on almost all the sectors medical, technology, commerce, energy, etc.  It goes beyond imagination in emerging technologies like big data, IoT, robotics, and other innovative fields. The global market for AI had annual revenue with 13% growth in the year 2020 whereas it is estimated to grow 17.4% year over year in 2021. Additionally, by 2024, the five-year CAGR is anticipated to be 18.4% with revenue of more than $37 billion. Machine learning on the other hand grew from $ 1.41 Billion in 2017 and is estimated to grow up to $ 8.81 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 44.1%.

The Dubai-based – Nybl is an artificial intelligence pioneer with a unique, end-to-end AI ecosystem providing solutions by offering a  platform to analyze enormous data sets, in real-time.  The company geared up to acquire Nubila ML which is a visual data mining and machine learning platform created to help everyone. The deal expects the founder of Nubila – Marlon de Jesús González to work with Nybl’s R&D for business expansion. The acquisition relates to the recent advancement of Nybl to democratize AI with a remarkable and simple AI ecosystem that eliminates extensive dependence on coding.

Nybl has already served across the Gulf Cooperation Council (GCC) region. Different sectors like Oil & Gas (O&G), healthcare, and security rely on the platform. The company is expanding in clientele spanning through Kuwait, India, UAE, The United States of America, and the Kingdom of Saudi Arabia.

Both the companies share a similar vision of utilizing the advantages of AI and ML as they form the building blocks for the growth of any sector. The conjunction is expected to bring automation to nybl’s processes and allows the users to simplify the process journey from analysis to deployment by managing the entire AI development journey.

The UAE Centennial 2071 project that embarks vision for future generations is based on Economy, Community Cohesion, Government Development, and Education. As per a 2019 report – the ‘Government Artificial Intelligence Readiness Index, UAE ranks as the highest in the Arab world to adopt Artificial Intelligence (AI) technologies. By 2031 UAE aims to use AI in, space energy, education transportation, and technology, etc. additionally with AI technologies it expects to increase GDP by around 35% ($96 billion) as it will save nearly $3 billion of government expenses.

One of the eminent lifestyle and amusement stores The Galleria – Abu Dhabi has Luxury brands, exquisite dining, and an array of entertainment options all in one place. It has gained a notable reputation that provides world-class amenities to the customers. The mall’s expansion gives a breathtaking experience with over 100 stylish places to dine, around 400 designer stores, amusement parks, and a marvelous waterfront promenade. The incredible mall opened the new expansion in September 2019. The luxury collection has allocated 250,000 square feet for entertainment places and new dining options. The mall has flagship stores like H&M, Zara, Sephora, Missguided, and Debenhams. The huge mall has 1.8 million square feet of mixed retail space.

A new addition to the Galleria Al Maryah Island is the famous fashion house of the 20th century-Saint Laurent. The customers need refreshing moments to enjoy new experiences. The new designer boutique opened recently at The Galleria Al Maryah Island in Abu Dhabi ensures an enhanced customer delight which is amplified by a variety of luxury retail brands. The designer brand is located on Level 2 in The Luxury Collection. The Mall continues to hold the image of opulence and the best retail stores destination in the capital.

The customers can expect a fancy treat with some of the iconic fashion and jewelry brands lined up in the glistening mall. The new dining collection offers an impeccable experience to the food lovers with 16 selected restaurant concepts like Rainer Becker’s Japanese concept -Zuma.  The Galleria is a beautifully conceptualized mall that adds relaxation, entertainment, and most of all an unforgettable shopping experience.

The business growth in 2021:

The Galleria Al Maryah Island skyrocketed in the annual target of 2020 which gained an unusual footfall of 22 million. Offering regional concepts the mall shines as the world’s-first entertainment attraction to open in 2021.

The mall recorded hefty accomplishments amidst the pandemic by following all the necessary safety measures. The mall grew in business due to consumer confidence and organized sales campaigns. The sales spiked by the end of 2020 with an 18% increase in sales compared to the previous year.

The revamp with new luxury stores and immersive multiplayer virtual reality gaming center which is first-to-the-UAE offering Zero Latency and 21-screen VOX Cinemas with IMAX, and teen activity center Xtreme Zone are great enhancements to the mall.

The construction of South Africa’s largest renewable energy project by ACWA Power has commenced and it is financed by Saudi Arabia’s Public Investment Fund (PIF). The construction had started, after raising $828 million in funds from a set of South African and international banks. The banks that have offered to fund are ABSA Bank, CDC Group, African Development Bank (AfDB), Development Bank of Southern Africa (DBSA), Nedbank Limited, and more.

The project will hold a capacity to power 200,000 households with a 12-hour thermal storage system after the completion. With this capacity, it is expected to provide reliable and clean energy for 24 hours. The power plant is expected to start operating on the 100 MW Redstone project by the fourth quarter of 2023.

The leading developer based out of Saudi – ACWA Power, is a renowned financier and operator of power and water desalination plants. The company works in around 13 countries. It holds the highest shares in the Redstone concentrated solar power (CSP) plant in South Africa. Co-shareholders in the present project with ACWA Power are the local community, Central Energy Fund, and Pele Green Energy.

The enormous renewable energy plant – Redstone project with more than ZAR 11 billion investment is located in the Northern Cape Province of South Africa. Since the project succeeded in international project finance, the countries’ goals for energy transition got financial assistance as the Redstone CSP contributed nearly ZAR 7 billion in foreign direct investment.

The site area is spread across 648 hectares of land. The project shows commitment and ambition to deliver clean energy which leads to the much-required energy transition which also promotes socio-economic development. The project anticipates impact on the community development with the combined efforts of the private sector and finance partners. It also will be able to address man-made and climatic threats.

A shift of an estimated 440 metric tons of CO2 emissions per year is expected from Redstone CSP. The project is compliant with the Climate Bonds Standard and Certification Scheme and follows the standards and shares the goals of the Paris Climate Agreement that entails keeping global warming below 2 degrees Celsius. Not only will the project support the socio-economic development, but it will also add value to the community by direct impact by creating employment opportunities. Consequently, it will improve and utilize local supply chains. It is estimated to procure nearly 44% local content and offer over 2,000 construction jobs during the construction period.

A little about the company’s history

Mohsin Haider Darwish LLC was established in 1974 and was converted to LLC in 1987. It is one of the largest & renowned family businesses in Oman.  The founder of MHD LLC was the late Mohsin Haider Darwish.  He was a visionary and the company grew leaps and bounds & witnessed phenomenal progress under his professional management.

MHD LLC’s diverse trading interests range from Automotive, Consumer Electronics, Building Materials, Engineering Products, Telecom, Office Automation, Projects, Information technology, Logistics, and Training institutes.  The company represents some of the premium global brands such as Jaguar, Land Rover, McLaren, MG, Volvo, Ford, Ashok Leyland, Huawei, Konica Minolta, Dell, AVON to name a few.  Its ISO certification validates the standard and quality of products that they offer.

In order to bring greater focus on existing business verticals, as well as placing emphasis on strategic diversification and expansion, MHD Group’s operations have been organized in two business clusters- ACERE and ITICS. The management intends to strengthen this structure, as part of an evolving vision to bring greater focus into the business & meet the challenges of the future. 

MHD LLC has been a recipient of numerous awards and recognitions over the years.

• Won ‘His Majesty’s Trophy for the best Five Factories more than 5 times
• Awarded His majesty’s Shield of Excellence
• The company was listed in the Forbes Top 100 Arab Family Businesses in Middle East 2020.
• Forbes Award ‘Celebrating Oman’s Success’
• Won ‘Oman Award Flame of Excellence’, ‘Most Trusted Brands of Oman’ & ‘Best Manpower Award’
• Receive Gold Partner status awarded by Microsoft
• Top 100 Achievements Register 2019 Award – Business & Economy category at the Achievements Forum 2019 held in London.
• Best Corporate Brand – Menaa 2019 
• Automotive Supplier of the Year 2020 – Oman Prestige Awards

MHD LLC is committed to the development of the nation.  The strength of its legacy and spirit of ambition to leverage the opportunities gives the company the extra edge.

Our key objective is to continue the family legacy by making a noteworthy contribution to the country.  Our business objective is to grow our business, strengthen relations with our business partners, constantly innovate & explore new business opportunities, expand our presence across Oman & internationally.  Socially, one of our core objectives is CSR as it is an integral part of our commitment to sustainability & community welfare 

How is Mohsin Haider Darwish driving the Economical inclusion in Oman? 

Economic inclusion is an important element of a sustainable economy & integral to economic growth.  Oman’s Vision 2040 lays strong emphasis on the development of youth & creating a dynamic labor market that attracts talent as well as creating a sustainable economy by protecting the environment & conserving natural resources. At MHD LLC, our business objectives & goals are aligned with the nation’s objectives. Our Economic Inclusion strategy works on creating employment opportunities and developing skills & investing in green investments.

We recognize that the youth is a key partner in the development of our country.  We established MHD Training Institute as we realized that Omani youth have immense potential for creativity & innovation and the nation’s development should be focused on them. We aim to inspire the young Omani generation to surge ahead in their careers, extend opportunities & pathways for the youth and provide them with training thus endowing them with the skills they need to be competitive in the local as well as international market. This has helped fill the gap in the labor market with trained Omani manpower that has the knowledge and skillsets to function effectively in the workplace.   

We also believe in creating a sustainable economy by venturing into sustainable business ventures.  Sustainable energy is the future of tomorrow as we look to conserve & protect our environment. Green investments are the future & we aim to be the pioneers in providing green and sustainable solutions & are working on solar panels project 

Please tell us more about the technical innovations in the automotive sector that MHD is influencing in Oman? 

In the business world, innovation involves developing new products & improving existing technologies and processes. As an organization, we are constantly innovating our processes to the changing trends. 

The Automotive sector has always been at the forefront & receptive to emerging technologies.  The industry is innovating at an impressive rate & from entertainment, safety, to the overall design, technology is in the lead. Our automotive brands are up to date with new innovations & have redefined the way cars are manufactured and operated. They offer the best design & latest technology for the vehicles as they aim at providing the best driving experience to the customers. At MHD LLC, we bring forth the technological advancements in vehicles to our customers. 

With the growing trend & use of electric vehicles which can drastically cut down on transportation costs, we have taken the lead & leveraged this opportunity by introducing electric charging stations.  This is a relatively new concept but we foresee immense potential in this sector as every industry is turning towards more environmentally friendly technology. With this, we are also looking at strategically contributing to Oman’s 2040 vision.

Highlight us about your associated companies and geographical presence

The global business environment is becoming more and more dynamic. In order to have a competitive advantage and long-term sustainable growth, it’s prudent for a company to diversify & expand operations across different sectors & enter new markets.

At MHD our business strategy & plans are constantly evolving. In order to diversify our asset base, enter new markets/sectors, we have a stake in several companies. Some of our associate companies are Areej Vegetable Oils & Derivatives (AVOD) & Oman Abrasives LLC. Avon’s products such as cooking oils, margarine are trusted for their quality for over 30 years as they have been committed to manufacturing products that consistently meet national and international standards and customer’s needs.  AVOD products are also marketed in the GCC as well as other countries through distributors. 

They have won various awards and recognition for their products which have created long-term value for society as a whole.  Oman Abrasive was established in 1986 & the company manufactures a range of Grit from Mineral Slag which converts itself into Iron Silicate. Their products are synonymous with quality & approved by major Shipyards, Oil and Gas companies, tank builders, and Offshore yards. 

Special Oilfield Services Co. LLC (SOS) is also a joint venture between MHD LLC & AL Mansoori Petroleum Services, one of the largest national oilfield companies operating in the Middle east. The prime objective of SOS has been to provide specialized end-to-end oil & gas services in Oman. The company strives to be the best innovative solution provider and introduce cutting-edge technologies in the Oil & Gas industry.

We have expanded our geographical presence in Qatar with a Joint venture with United Cooperation for Gen. Trd. WLL.  Combining the local reputation of Abdulrahman Abdulla Al Ansari Group of Companies and the expertise of Mohsin Haider Darwish LLC, UCGT WLL represents world-renowned brands across all sectors & it is our endeavor to provide the best service to the customers in Qatar

Areej, as a chairperson what are your ideologies and strategies to maintain the eminence of one of the largest privately-owned businesses in Oman consistently?

MHD LLC has achieved a place of eminence in Oman as it has been successful in creating excellence of the highest levels.  Keeping our customer’s values is at the forefront of our business planning & we have strived to better understand and anticipate our customer’s value and continuously worked on delivering it.  We have been successful as we have been providing quality products and services from world-renowned brands.  Being eminent gives us the competitive advantage but the key to sustaining it is to constantly evolve & have the unflinching commitment to getting better every single day. 

As the Chairperson, my strategy is to innovate, build and strengthen relations, expand our portfolio, stay focused & resilient, continually assess our market share & most importantly be determined.

Staying ahead of the competition and being able to differentiate ourselves in a challenging market is vital to our success. It’s important to monitor the trends in the business sector.  Our business model is constantly evolving. We have expanded our product portfolio to meet customer’s evolving needs & reaching out to new customers. E-commerce is playing a crucial role today & it has helped us to stay connected with our customers.  

It is also very important to stay focused on our goals as this gives us clarity of our short-term & long-term objectives. 

In order to continue to be successful, we need to drive changes more rapidly with new approaches and reinvent business strategies.  This can be challenging but if we do take a step towards this, we will not only stand out but also create additional value.  An example of how this has worked for us is our expansion into electric charging stations & solar power.  We hope to continue to inspire progress that will build meaningful values for future generations

What message would you deliver to your investors?

Oman has achieved remarkable progress and prosperity in every sector of the economy & has seen a steady transformation through development plans.  Oman’s Vision 2040 strategy seeks to catapult the Sultanate into the ranks of the world’s most ‘developed nations’.  It is building a productive & diversified economy with innovation, infrastructure, education, development of the workforce, sustaining national resources, and modern legislative framework as its key drivers. 

Oman has distinct advantages which makes it an ideal investment destination. In my opinion, the Sultanate’s stable economy is the strongest reason for any investor to go ahead with his investments.  Coupled with this, its geographic location which is characterized by the most strategically placed ports in the world also opens new horizons for investors.  Its friendly policies have enabled the Sultanate to forge strong bilateral ties with countries around the world and integrate with the global economy. The trade agreements, investor-friendly legislative environment, logistics & infrastructure network, educated & qualified bilingual workforce are factors that are favorable for investment in Oman.  

In order to augment foreign investment, the Sultanate has also set up Smart cities & Free Zones which allow 100% foreign ownership. 

Overall, the strategy and initiatives of the Government augur well for Oman’s economy.  We are committed to the strategies and plans set by the government and I am confident that under the leadership of HM Haitham bin Tariq bin Taimur, we will achieve our objective.