UAE greenfield FDI dips 9% to $5.4B in H1, while KSA's Barq reaches 7M users, $19.5B in transactions in first year of operations
Here’s a look at today's biggest tech stories in the MENA+:
- UAE greenfield FDI dips 9% to $5.4B in H1, led by Kuwait, US, India
- Gulf Capital targets 3-4 fintech, healthcare exits by 2026
- MGX-backed AI infra project Stargate to develop $1B Norway data center
- Secondhand goods platform Zhuanzhuan to establish regional HQ at Dubai Airport Freezone
- Telefonica Mexico acquisition to face minimal opposition
- Barq reaches 7M users, $19.5B in transactions in first year of operations
- Deficit narrows to $9.2B in Q2, declining 41% QoQ on oil, non-oil revenue growth
- New Murabba, Alat sign MoU to develop next-gen vertical mobility solutions
- ACWA Power awards contract for major green ammonia project
- Saudi Chief AI Officers now control 67% of AI budgets, ahead of global average
- AD Ports explores joint operation, development of Egypt's oil storage network
- Insurers raise Red Sea shipping premiums by 2x
- Suez Canal generated $153B, facilitated 1.1M ships since 1956
- Dongfeng begins selling EVs, hybrids locally following manufacturing launch
- Egypt agrees Mediterranean exploration deal with Eni, BP
- US imposes 19% tariff on Pakistan following trade deal, down from proposed 29%
- Local mobile phone manufacturing dips 13% in FY2025 to 28.2M
- SECP launches consultation on private fund regulations
- Govt aims to land spacecraft on the moon by 2035
- Islamabad to digitize all city service payments in move to become Pakistan's first cashless city
Other MENA+ Developments
- Arab govts-owned Arab Investment Co. to make $1.2B pivot towards tech, industrials, healthcare
- Nasdaq Dubai’s first-ever BTC fund delists over listing costs
- UAE, Malaysia, Rwanda sign partnership to boost AI adoption in the Global South
- Iraq launches study to assess green hydrogen potential
- Algeria bans all crypto activity under new law
Southeast Asia Developments
- SEA to see impact from US’ ban on Chinese tech in subsea cables
- Philippine Competition Commission approves Mitsubishi's acquisition of GCash stake
- Malaysia launches $185B 5-year development plan
- Sea Ltd expands OpenAI partnership to boost AI footprint
- SEC proposes sustainability reporting for major non-listed firms
India Developments
- US unveils 25% tariff on Indian imports, hitting appeal as Chinese manufacturing alternative
- Govt cuts subsidies on small-value UPI payments
- DPIIT signs deals with Roche Products, HDFC Capital Advisors to support startups
- Unilever banks on India, US to drive growth
- SEBI proposes raising allocation limit for institutional buyers in IPOs
