New standalone foreign trade ministry set up in the UAE, while KSA aims to triple culture sector contribution to GDP to 3% by 2030
Here’s a look at today's biggest tech stories in the MENA+:
- New standalone foreign trade ministry set up, led by Minister Thani Al Zeyoudi
- Abu Dhabi, Abbott to localize pharma production, partner on digital health
- FAB becomes first MENA bank to join China's Cross-Border Interbank Payment System
- RTA, BYD trial electric buses
- Khalifa Fund, ADPIC partner to support SMEs
- Govt aims to triple culture sector contribution to GDP to 3% by 2030
- Riyadh's Aram Palms, Cordiant Group plan $5B in funds for GCC agri investments
- SAMA updates credit card rules, limiting fees
- Sport Clubs to raise $69M in IPO
- Saudi Arabia, Kuwait partner on anti-money laundering efforts
- Amazon to get stake in Valu following EGX listing
- GE Healthcare, Al Safi setting up region's first ultrasound, MRI machine factory
- Egypt faces summer blackouts amidst Israeli halt to gas supplies
- Govt planning law to open water treatment projects to private sector
- Govt targets cutting external debt by $1-2B yearly
- Only 3% of MSMEs accept digital payments via POS devices
- Pakistanis spend $1.1B on online platforms in FY2024–25
- Govt targets EVs making up 30% of all new vehicle sales by 2030 in new EV policy
- FBR unveils taxes to offset losses from solar tax cut, salary hike
- Govt secured $20B in international loans, grants in 11 months, outpacing target
Other MENA+ Developments
- Singapore Airlines, Air France other global airlines suspend GCC flights
- Oman to introduce 5% income tax on those earning above $109,000 by 2028
- Burjeel Holdings launches mental health business with 4 centers in UAE, Saudi Arabia
- World Bank warns Israel-Iran war to slow Gulf investment inflow
- Qatar's GAB becomes first MENA body to sign APAC greenhouse gas accreditation agreement
Southeast Asia Developments
- CP Group subsidiary partners Intel to sell AI services
- Vietnam's VNG still planning US IPO
- Malaysia, US agree to finalize trade negotiations before tariff deadline
- Japan's NTT Data to open $90M Thai data center
- Philippines' GCash, Tablevibe to partner more digital restaurant ordering platforms
India Developments
- Ola, Uber, Rapido to seek GST clarity from CBIC
- Amazon introduces at-home diagnostics with Orange Health Labs
- Walmart's PhonePe reportedly seeking $15B valuation in India IPO
- Tesla to open showrooms with China-made EVs
- FMCGs boost relationships with general trade distributors, offering better margins, growth
