Double Negative sets up Abu Dhabi visual effects hub, while PIF cuts Amazon stake in rebalance towards growth
Here’s a look at today's biggest tech stories in the MENA+:
- Double Negative sets up Abu Dhabi visual effects hub following $200M investment
- du Pay, Emirates NBD sign partnership offering virtual IBAN
- ADQ, Switzerland's EQTY Lab partner to launch ClimateGPT
- Empower plant is world's highest capacity district cooling plant
- Cisco to establish PoP for cloud security services
- STC, Ooredoo to partner across MENA on ICT, digital services
- PIF cuts Amazon stake in rebalance towards growth, Vision 2030 sectors
- Central Bank issues compliance, audit principles for finance companies
- Saudi, Qatar govts sign MoU to cooperate on finance sector
- ACWA Power joins COP29 as partner, to participate in policy discussions
- Fujifilm opens Cairo office, plans regional service center
- Former Finance Minister Mohamed Maait leads candidates for IMF Executive Director post
- Egypt pushes to be relisted on JPMorgan emerging market index
- Pro-govt Mostaqbal Watan party dominates parliamentary committee elections
- Govt backs Exxon, bp for oil and gas exploration
- Govt in discussions to finalize CPEC financing for $6.8B railway
- IMF warns Pakistan that bailout may be last without necessary reforms
- IT, telecom standing committee begins discussions on AI regulation bill
- PTA on track to approve Starlink license
- Exports up 14% in Q1 to $7.9B
Other MENA+ Developments
- Network International to support Orabank on digital payments transformation
- Oman targets zero routine flaring by 2030
- CBB-licensed Bahraini digital assets exchange ATME launches
- Saudi Arabia's Tamara gets Bahrain BNPL license
- UAE makes up 47% of Arab exchange assets
Southeast Asia Developments
- Grab to spend $3M/year on partner benefits amidst Singapore competition
- Indonesia blocks Temu entry to protect MSMEs
- Singapore tops World Bank business climate survey for operational efficency
- Philippine consumer rights groups criticize new digital services VAT
- FATF graylisted countries adopt crypto to overcome trade frictions
India Developments
- Slowdown emerges among consumer lending fintechs
- India, US sign deal to collaborate on battery mineral supply chains
- Blackstone begins raising $10B for new Asia PE fund, to prioritize India
- Apple on track to make all iPhone models locally
- Google cites local hosting of genAI model in support for AI regulation
