UAE's Tawasul Taxis allows customers to pay with AE AED-pegged stablecoin, while Saudi PE Firm Jadwa eyes raising $104M to boost regional portfolio
Here’s a look at today's biggest tech stories in the MENA+:
- Tawasul Taxis allows customers to pay with AE AED-pegged stablecoin
- Finance Ministry issued guidance on relief via network of over 100 double taxation treaties
- Retail industry expected to expand 5.4% annually through 2028
- DFSA Chairman appointed to lead new board of Majid Al Futtaim
- Dubai Transport Authority exploring adoption of quantum technologies
- PE Firm Jadwa eyes raising $104M to boost regional portfolio
- Govt platform Absher reports over 42M e-transactions last month
- Jadwa Investment in discussions to sell UniPharma
- Najran mining wealth estimated at $38.7B in push for precious metals hub
- Saudi companies increasingly appointing younger, local CEOs
- Financial Regulatory Authority to issue regulations for evaluating intangible assets
- SCZone inaugurates $200M solar manufacturing facility
- Govt awards seven exploration licenses to local, US players
- Govt seeks to enhance economic ties with African nations
- Africa data center sector to grow 17.5% this year, led by Egypt, Kenya, Nigeria
- Phone imports down 16% in 11M FY2024-25
- Barrick, Komatsu sign $440M equipment deal for Reko Diq project
- MoITT begins appointment process for leadership of new Pakistan Digital Authority
- Final bidding for PIA to be held by October
- Consumer confidence up 9.2% QoQ, at highest since 2022
Other MENA+ Developments
- BipTap, Al Fardan Ventures to launch global digital bank headquartered in Abu Dhabi
- UAE's Airev, US chipmaker Tenstorrent partner to develop sovereign AI stack
- UAE, KSA, Qatar commit $2T in push for AI leadership
- Kuwait's National Investments sets up shop in DIFC in first Gulf expansion
- Oman Investment Authority now invests 61% of portfolio locally
Southeast Asia Developments
- Grab pilots drone delivery services in Manila
- Malaysia pauses controversial rules requiring Bahasa for all product listings on e-commerce platforms
- Southeast Asia e-commerce GMV reaches $145.2b in 2024, driven by Thailand, Malaysia
- Philippine telcos oppose legislation relaxing rules for satellite internet services
- Indonesia planning to make e-commerce firms collect tax on sellers' sales
