UAE's MGX raises $50B in dedicated AI funding, Saudi AUM to exceed $400B by 2027, Oman launches temporary maritime corridor in Strait of Hormuz, GoTo and Grab cut Indonesia driver commissions, India could localize 90-100% EV components by 2030
Here’s a look at today's biggest tech stories in the MENA+:
- MGX raises $50B in dedicated AI funding, to deploy $10B annually
- Sanofi, Abu Dhabi to study development of vaccine innovation center
- UAE drafting rating system, new policies to boost data center energy efficiency
- UAE issues $13.6M in inaugural sovereign retail treasury sukuk program for citizens
- AD Ports launches platform to roll out AI use across business
- TGA threatens to block delivery apps relying on manual dispatching
- REGA begins allowing non-Saudis to apply for real estate ownership
- SDAIA wins UN Public Service Award
- MIS lands Humain data-center hosting award worth 30% of 2025 revenue
- Saudi AUM to exceed $400B by 2027
- Capital gains tax on listed shares replaced with unified stamp duty
- VAT reforms approved to boost industry, healthcare, investment
- BII calls on Egypt to 'level playing field' for private sector
- Al-Sisi directs govt to work on unified social protection program
- El Sewedy's ESI, Abu Dhabi's ROX launch $500M EV manufacturing facility
- NA passes budget despite opposition pushback
- MoITT to be restructured, shaking off telecom-centric structure
- Cabinet approves agri biotech policy
- Karachi port plans $100M more investment following surge in cargo amidst Iran war
- Telecom Amendment Bill undergoes emergency review
Other MENA+ Developments
- Oman launches temporary maritime corridor in Strait of Hormuz
- Morocco unlikely to allow digital bank Revolut's entry
- Standard Chartered considers selling Bahrain wealth, retail unit
- Qatar's MBK, Uzbekistan explore tech partnership
- US' Marco Rubio insists Hormuz will be toll-free
Southeast Asia Developments
- MSCI maintains Indonesia in emerging market category, acknowledges regulatory reforms
- GoTo, Grab cut Indonesia driver commissions to 8% following govt intervention
- Malaysia to announce advanced air mobility guidelines this year
- Singapore’s Carro studying US IPO
- Vietnam offers special credit treatment for key infra projects
India Developments
- NITI Aayog proposes pharma chapter for future FTAs
- Flipkart q-commerce arm Minutes reaches 1,000 India fulfillment hubs
- SEBI proposes standardized advertisement code for regulated entities
- India could localize 90-100% EV components by 2030
- Prediction market Kalshi adds India to its list of restricted jurisdictions
