Damac plans $20B investment in US data centers, while PIF-backed EV maker Lucid joins ‘Made in Saudi’ program
Here’s a look at today's biggest tech stories in the MENA+:
- Damac plans $20B investment in US data centers
- Dar Global seeks to expand to US, Greece
- Govt lifts partial ban on public drone use
- DAE buys aircraft leasing firm Nordic Aviation Capital
- ADIA, Advent International invest $3B in Fisher Investments
- PIF-backed EV maker Lucid joins ‘Made in Saudi’ program
- E-commerce business registrations grow 10% YoY
- GACA rolls out LIDAR passenger flow solution at airports
- Half of deep tech startups working on AI, IoT
- Beauty retailer Nice One makes Tadawul debut after $242M IPO
- $1.1B allocation to textile industry to reshape global supply chains
- IMF appears to adapt to military's strategic role in economy
- Govt launches portal for mining projects
- FRA lowers age requirement for EGX investments
- Net foreign reserves reached new high at $47.1B in December
- UAE rolls over $2B debt due in January
- Protests over power outages disrupt CPEC trade
- Devsinc acquires Dubai-based e-commerce firm Alchemative Group
- 150K govt jobs to be cut as part of major reforms
- ECC approves additional $7M funding to tackle fake news
Other MENA+ Developments
- VC funding drops 29% in 2024 on investor shift
- Checkout.com partners noqodi to boost MENA payments
- Kuwait leads Gulf with highest inflation rate at 2.8%
- Jordan takes over presidency of MENA Financial Action Task Force
- Qatar begins implementation of unified GCC customs tariff
Southeast Asia Developments
- Indonesia’s Bukalapak to scale back amid intense e-commerce competition
- Indonesia to develop comprehensive AI regulations
- Micron inaugurates $7B Singapore chip plant, set to add 3,000 jobs
- Vietnam’s GDP exceeds expectations to grow by over 7%
- Malaysia announces tax incentives for Johor-Singapore SEZ
India Developments
- Microsoft announces $3B investment for AI and cloud expansion
- Zomato launches 15-minute food delivery service
- Data protection rules may undergo further reviews to better protect children
- Income tax filing rules to be revamped in upcoming budget
- Sebi tightens IPO filing requirements, mandates whistleblower complaints disclosures
