Abu Dhabi launches AI investment firm MGX eyeing $100B AUM, while PIF assets hit $940B making it 5th largest SWF
Here’s a look at today's biggest tech stories in the MENA+:
- Abu Dhabi launches AI investment firm MGX, eyes $100B AUM
- Telegram eyes profitability next year, considers US IPO
- DMCC adds 2,700 companies in 2023, led by crypto, gold
- Nio to provide tech know how to UAE EV startup Forseven
- Dubai non-oil sector growth quickens to 5-year high
- PIF’s assets hit $940B, making it 5th largest SWF
- Jada Fund invests in SF-based Partners for Growth fund
- Animoca Brands, KACST to establish Web3 hub
- Singapore social platform BIGO to invest $500M in KSA
- NCA unveils new national policy to bolster cybersecurity services
- CIB eases foreign currency transaction limits again
- Sisi says flexible exchange rate now possible with funding
- JPMorgan expects big rate hike amid soaring inflation
- Sisi to be sworn in for 3rd presidential term
- EU expected to provide $6B in financing
- HBL Bank chief appointed as finance minister
- UAE firm to buy stake in TPL Trakker’s Middle East unit
- Chinese solar JV to provide $700M investment boost
- Senate polls set to be held on April 2
- Govt to prioritize boosting Pak-Saudi economic ties
Other MENA+ Developments
- Cloudflare expands with new Dubai Internet City office
- Mumtalakat seeks buyers for McLaren stake
- Libyan leaders agree to create unified government
- Zain Kuwait partners Huawei to set up AI Center of Excellence
- Morocco to set aside 1M hectares for green hydrogen push
Southeast Asia Developments
- Indonesia’s logistics tech space set for consolidation
- AI Singapore, Google launch project to boost regional LLMs
- US firms plan over $1B investments in the Philippines
- Malaysia's 99 Speedmart announces domestic IPO plans
- Malaysia’s myTukar undergoes rebrand as Carro prepares for IPO
