Dubai’s VARA to roll out new crypto regulations in Q1, while PIF-backed Umm Al Qura’s institutional offering oversubscribed 241x
Here’s a look at today's biggest tech stories in the MENA+:
- Domestic card scheme Jaywan launched locally, globally
- Bybit gets in-principle approval for virtual asset platform
- Dubai’s VARA to roll out new crypto regulations in Q1
- Developer Arada studying IPO after selling out $1.5B Sharjah project in three hours
- Tightened merger control rules to take effect from April 1
- stc-Ooredoo terrestrial fibre optic network to boost Saudi-Oman connectivity
- Mining sector sees $100B worth of investment opportunities
- PIF-backed Umm Al Qura’s institutional offering oversubscribed 241x
- Over 1,300 industrial licenses brought in $13.3B investment last year
- Saudi Arabia launches new Web3 Alliance
- Govt, IFC to finalize airport privatization plans by next month
- Industrial sector to contribute 20% to GDP by 2030, up from 14%
- Cabinet approves agreements to boost Arab electricity interconnection
- Fawry buys $1.6M worth of stakes in 3 local tech firms
- Maersk studying ship recycling business in Egypt
- B2B digital marketplace Zarea Limited makes PSX debut
- Pakistan, UAE ink deals to boost banking, railway, mining cooperation
- IT firms seek to expand Qatar-bound exports to $25M
- Competition Appellate Tribunal set to resume operations with new chief
- PTA hits snag in 5G rollout amid spectrum auction challenges
Other MENA+ Developments
- Microsoft urges President Trump to loosen AI chip restrictions on UAE
- Private sector contribution to Arab economy reaches 75%
- Disrupt.com commits $100M to boost AI-first tech ventures
- AI use in banking sector to contribute up to 13.6% of regional GDP by 2030
- Qatar investment promotion agency seeks to woo more Chinese firms
Southeast Asia Developments
- China’s Chery Automobile seeks IPO in Hong Kong
- TikTok plans $8.8B investment in Thailand data centers over 5 years
- Ride-hailing app InDrive introduces Shariah-compliant loans in Indonesia
- Indonesian rupiah slumps to 5-year low, prompting cenbank intervention
- Philippine fintech Maya reaches profitability amid expansion drive
