G42 partners Mistral AI for next-gen AI development, while Saudi Arabia places 2nd among G20 in ICT Regulatory Tracker Index
Here’s a look at today's biggest tech stories in the MENA+:
- UAE expands corporate tax relief for some foreign-owned firms
- Lunate, Brookfield form $1B JV for real estate investments
- TII launches new Falcon AI model, to match performance of models 10x its size
- G42 partners Mistral AI for next-gen AI development
- MoIAT inks MoU with Airbus to enhance aerospace capabilities
- Smartphone shipments to Saudi drop 12%, outpacing 1% drop in UAE
- White House says AI, chip export block not needed to manage national security risks
- Arab Energy Fund, Stonepeak announce $1B energy infra partnership
- Foreign investment in capital market up 10.1% to reach $58B
- Kingdom accounted for 69% of Gulf IPO proceeds in Q1
- Arab investments surge to $41.5B in FY24, up from $7.3B
- ETA denies media reports on VAT hike, reiterates food exemptions
- Kasrawy, China’s Jetour announce $123M car assembly deal
- Govt seeks share in China’s $52B investment pledge for Africa
- Jameel Motors, GAC to launch KD vehicle assembly
- SIFC facilitated $2.3B in foreign investment since 2023
- SBP unveils guidelines for fintech regulatory sandbox
- New AI-powered tracking system to help tackle sales tax evasion
- Cenbank ramps up efforts to expand Sukuk market
- 3-5% GST, carbon levy to be implemented on petroleum products
Other MENA+ Developments
- Goldman and UBS spearhead Wall Street’s regional push
- e& launches region’s 1st commercial 5G network slicing solution
- Iran says next round of talks could take place in Rome
- JPMorgan boosts Middle East headcount
- Qatar’s QIA to boost yearly US investments at least 2x by 2035
Southeast Asia Developments
- Thailand plans tax breaks for SMEs to mitigate effects of trade war
- Indonesia to cap ride-hailing commissions at 20% following protests
- NTT's data center Reit listing may end Singapore bourse IPO drought
- Malaysia retracts plans to deploy Huawei AI tech amidst US-China tensions
- US makes affirmative final decision to raise tariffs on Southeast Asian solar cells
India Developments
- Flipkart-backed super.money to expand neo-bank footprint amid fintech race
- Ola Electric may consider fundraising as market share declines
- Razorpay partners MeitY to support deep-tech startups
- Listed fintechs hit by slowdown in unsecured lending
- India to be resilient to negative effects of US tariffs: Moody's
