Dubai to launch $500M Alec Engineering IPO, while KSA reiterates no Israel normalization without Palestinian state
Here’s a look at today's biggest tech stories in the MENA+:
- Dubai to launch $500M Alec Engineering IPO
- ADNOC shifts US investments to new global subsidiary XRG
- Federal Authority for Nuclear Regulation plan new projects, AI strategy
- Mubadala invests in American HR firm Deel ahead of IPO
- MoEI partners crypto firm Shiba Inu to drive Web3 solutions
- KSA reiterates no Israel normalization without Palestinian state
- Investment licenses issued surge 68% YoY in 2024
- E-commerce expected to account for 46% of retail sector by 2030
- International operators now allowed in domestic private aviation sector
- New International Retail Council established
- GASC secures $700M deal with ITFC to enhance food security
- IFC to unveil airport privatization plan in next 6 months
- Govt eyes unified financing initiative for startups
- Non-oil private sector expands at fastest pace in over 4 years
- oliv secures Egypt’s 1st digital factoring license
- 57 manufacturers granted EV production licenses
- Draft National Green Taxonomy unveiled to drive green finance
- PTA asked to speed up approval of Starlink’s entry
- Inaugural national AI Policy to be ready by month-end
- Pakistan to have 3rd highest population by 2050
Other MENA+ Developments
- US firms may seek UAE, Bahrain aluminium exports amid tariffs
- Gulf public sector leads globally in digital, AI readiness
- GCC set to implement 1st sustainable construction code
- BlackRock may open office in Kuwait after Dubai and Riyadh
- Lebanon seeks TotalEnergies’ resumption of oil and gas exploration
Southeast Asia Developments
- South Korean retail giants Lotte, Shinsegae eye region for growth
- Thailand launches crackdown on illegal mobile loan apps
- Over 70% of Singapore SMEs investing in GenAI, shows survey
- Philippines says 4 firms eyeing digital banking license
- Malaysia falls short of 2024 tourist arrival targets
India Developments
- Amazon, SpaceX seek to expand presence in India’s satellite internet market
- Local foundational AI platform could come in 10 months
- ChatGPT leads AI platform usage; 31% say will switch to DeepSeek
- Shein says India data to remain localized as it re-renters after ban
- Banks launch merchant apps amid intensifying competition with fintechs
