UAE's Nafis Emiratization program extended through 2040, KSA SME lending rises 33% in Q4, MENA startup funding down 62% YoY, AI use in Indonesia e-commerce surges, Gulf crisis to divert some data center capacity towards India
Here’s a look at today's biggest tech stories in the MENA+:
- Mashreq launches instant digital cross-border accounts for Egyptians
- Nafis Emiratization program extended through 2040
- AI-fueled economic expansion to boost workforce by 1M by 2030
- Dubai South launches SME support package
- US-UAE AI acceleration working group hosts first meeting, reiterates $1.4T investment plans
- MiSK-owned EGDC ups stake in Capcom to 6%
- Saudi Arabia raises price of Asia crude to record premium over Hormuz crisis
- SME lending rises 33% to $125B in Q4
- Blockchain services firm SettleMint drives Saudi real estate transformation
- Saudi hospital conducts landmark robotic liver surgery
- CBE, SCMR establish framework to regulate digital content published by banks
- Egypt to introduce SIM cards for children
- National Investment Bank undergoes restructuring as govt investment, development arm
- Egypt bolsters food security with new 5-pillar strategy
- Basata, Infinity strike EV charging payments partnership
- Pakistan exploring new financing from China, KSA following UAE repayments
- IT firms, freelancers exempted from declaring export proceeds under $25,000
- Faysal Bank launches Pakistan’s first mobile tap-and-withdraw service
- Jazz says new telco data localization framework offers strategic opportunity
- PM calls for nationwide shift to EVs to slash fuel costs
Other MENA+ Developments
- Morocco launches financial futures trading on MASI 20 index
- Egypt, Morocco signs industrial cooperation protocol
- Qatar PMI falls to 58.7 in March, with new business declining at S&P survey-record rate
- Mazda halts production of vehicles for export to Middle East
- MENA startup funding down 62% YoY
Southeast Asia Developments
- Vietnam issues decree tightening oversight of domestic firms investing abroad
- AI use in Indonesia e-commerce reaches 82%
- Singapore unveils $780M Iran crisis support package
- Apple shifts over 40% of MacBook production to Vietnam
- Hyperscaler AirTrunk hires banks for Singapore IPO
India Developments
- India to launch sovereign guarantees on loans to businesses hit by Iran war worth $26.7B
- Lohum to build UAE's first EV battery recycling facility in Sharjah
- Amazon to wind down 4-24h delivery service Fresh in shift to q-commerce AmazonNow
- Commerce Secretary asks pharma sector to cut reliance on imported raw materials
- Gulf crisis seen to divert 200-500 MW data center capacity towards India
