UAE posts world's second-fastest 5G download speed, while Lucid closes $1.5B PIF-led fundraise
Here’s a look at today's biggest tech stories in the MENA+:
- UAE, Guyana launch 1M Arab Coders-inspired initiative
- CBUAE expects 7.6% growth in 2022, 3.9% in 2023
- Online FMCG dominates growth of overall market in UAE, KSA
- UAE posts world's second-fastest 5G download speed
- DIFC contribution to GDP grows, expects new FDI in 2023
- Over $36B this year spent on healthcare, prioritizes digital healthcare
- Monsha’at issues certificates to 24,500 SMEs this year
- E-commerce share of FMCG grows 58% in KSA, 68% in UAE
- Kingdom wants to become the world's top clean hydrogen exporter
- Lucid closes $1.5B PIF-led fundraise
- 43% of population own ATM cards
- Banks slash foreign currency withdrawal limits as shortage bites
- Majid Al Futtaim to expand Carrefour with $30M investment
- IMF deal reverses volatility in currency black market
- CPS plans region's first solar thermal collector factory
- Phone imports drop 66% as local manufacturing grows
- Pakistan prepares energy conservation roadmap
- President calls on diaspora to support tech transfer
- Toyota pauses production following State Bank's import restrictions
- Competition Commission says PESCO acted unfairly against ISPs
Other MENA+ Developments
- Korean food manufacturers ramp up Middle East marketing
- M&A transactions up 16% in 9M, led by sustainability deals
- UAE, Egypt face significant agtech skills gap
- Kuwait records GCC's highest youth unemployment in decade at 17%
- Tunisia heads to second round of elections
Southeast Asia Developments
- Regional VCs to become pickier in 2023
- Ninja Van partners Indonesian airline to support inter-island deliveries
- Apple suppliers accelerate Vietnam, India diversification
- Thailand offers tax deduction to support consumption
- Digital Realty, Equinix target Singapore expansion following data center moratorium
