FAB and Microsoft to set up AI innovation hub, while stc pay set to launch as STC Bank after SAMA approval
Here’s a look at today's biggest tech stories in the MENA+:
- True Gamers' Abu Dhabi island to leverage MENA's gaming growth
- 1st 5G smart warehouse begins operations
- Consumer spending up 13% in 2023 driven by retail sector
- FAB, Microsoft to set up AI innovation hub
- Companies on local exchanges near $1T in value
- stc pay set to launch as STC Bank after SAMA approval
- Over 3,300 sites banned due to IP rights breaches in 2023
- Riyad Bank considers IPO of Riyadh Capital
- Chinese investments up 10x from previous year
- Asset management activity revenues up 58.6% in 4 years
- Egypt pulls out from bid to host Africa Energy Bank
- Egypt high-speed rail project chooses British Steel for track supply
- Network International announces BNPL partnership with Souhoola
- Govt survey shows 46% drop in birth rate since 2017
- LNG terminal lease being explored amid rise in imports
- Engro Energy sells coal mining unit for $125M
- Pak Elektron to set up UAE subsidiary
- Exports to Middle East rise 36% in 8 months
- Govt eyes 15% tax-to-GDP ratio in next 5 years
- IMF could discuss next program in upcoming talks
Other MENA+ Developments
- UAE leads regional surge in online shopping during Ramadan
- Arabic streaming platform Shahid sees 40% rise in subscribers
- Kuwait holds election in fresh attempt to end political deadlock
- Turkey's Arçelik acquires Whirlpool MENA
- Morocco in talks to woo more EV battery investments
Southeast Asia Developments
- Startup fundraising in Q1 down 29% YoY
- Region’s appeal as offshoring hub rises as MNCs cut costs
- Nvidia, Indosat to establish $200M AI center in Indonesia
- SpaceX seeks internet service provider license in Indonesia
- China’s Chery forms JV for $800M Vietnam EV plant
