UAE to set up new task force for 2050-2060 economy, while Saudi Arabia resumes imports from Iran after hiatus of over a year
Here’s a look at today's biggest tech stories in the MENA+:
- SoftBank Vision Fund-backed GoTo receives $400mn from ADIA in pre-IPO fundraising
- UAE to set up new task force for 2050-2060 economy
- Mubadala's GlobalFoundries aims for $25bn valuation in US IPO expected later this year
- Dubai Customs allows Dubai Airport Freezone, CommerCity and Dubai South to use services on its cross-border e-commerce platform
- UAE ranks 11th in Brand Finance Nation Brands 2021 report, above US and UK
- Saudi Arabian Cricket Federation signs MoU with sport management company JSW Sports to develop high performance Saudi cricket academies
- Saudi Arabia increases Finance Companies Law’s penalties to $530,000 fine or 10% of money involved in offence
- Saudi Arabia resumes trade with Iran after hiatus of over a year
- G20 Financial Supervisory Board appoints Saudi Central Bank Governor as Chair of committee overseeing international financial standards
- Saudi Arabia among rare economies where GDP is forecast to exceed pre-pandemic trends, Capital Economics says
- Egypt plans to spend $2bn for third phase of fiber rollout for rural areas under "Decent Life" initiative
- Sovereign Fund of Egypt plans new sub-funds focused on education and manufacturing
- Greece pledges to link Egypt’s energy grid to Europe following agreement to set up Egypt-Greece interconnection
- CAPMAS expects Egypt's population to reach 123-130mn in 2032
- Cabinet approves draft law to establish Digital Egypt Fund
- Planning and Development Minister rules out immediate relief for inflation-hit businesses and people
- Decision to remove Pakistan from Financial Action Task Force Gray List reportedly to be postponed to next year
- Code For Pakistan launches "GovTech Hackathon" backed by World Bank and KP IT Board
- Former Finance Minister Tarin appointed Adviser to the Prime Minister on Finance and Revenue
- Pakistan needs to follow Islamic principles to become ideal welfare state, Prime Minister says
Other MENA+ Developments
- DIFC and Israel's Start-Up Nation Central sign agreement to jointly promote commercial agreements in fintech and digital security
- Qatar demerges Transport Ministry and Communications and IT Ministry in cabinet shakeup
- Middle East companies "catching up" but need to do more to have an impact on wider energy goals, ENGIE says
- Zain signs MoU with Huawei to upgrade its 5G infrastructure
- Regional powers eye influence over Sudan's Red Sea ports
Southeast Asia Developments
- Singapore-owned Surbana Jurong joins $22.5bn Sun Cable project to deliver solar electricity from Australia to Singapore
- Singapore's Aura and Fat Projects eye New York and Singapore SPAC listings targeting Southeast Asia businesses
- Rise of digital banks places pressure on Indonesia to push through new data protection law
- Digital-enabled microlenders replace illegal moneylenders amidst surge in Thai loans
- PLDT plans to build Philippines' biggest data center targeting tech giants
