UAE gets low-cost AI reasoning model, Saudi PIF opens MENA offices, Oman partners Chinese bourses, Malaysia passes gig workers' law, Rapido becomes India's largest ridehailing platform
Here’s a look at today's biggest tech stories in the MENA+:
- ADGM proposes new rules for fiat-referenced tokens
- Revolut gets license to roll out stored value facilities, retail payment services
- MBZUAI, G42 launch low-cost AI reasoning model K2 Think
- Botim, Commercial Bank of Ethiopia launch digital remittance services
- Du "overwhelmed" with requests for new GPU-as-a-service
- PIF to open Egypt, Jordan, Bahrain, Oman offices
- Bateel weighs Tadawul IPO
- TikTok contributed over $1B to Saudi GDP, 25,000 jobs in 2024
- STC Bank named Saudi Arabia's fastest growing bank
- New framework covering debt issuers using SPEs comes into effect
- Elsewedy Electric, Algeria sign $2.5B investment agreement
- CPI slows to 12% in August, outpacing analyst projections
- e& Egypt repositions to promote AI-powered customer solutions
- Eni, BP to drill Temsah exploratory well with $70M investment
- Local Development Minister aims to expand access to NBFS
- $400M deal inked with China to develop independent satellite network
- PM orders crackdown on tax evaders in push for 9% increase in tax collections
- FBR launches digital invoicing system for sales tax
- SBP launches public consultation on consumer protection draft regulations
- Govt plans industrial policy reforms to protect investors
Other MENA+ Developments
- Arab Financial Services gets CBUAE certification to support Jaywan cards
- Bahrain sponsors Impossible Metals' international deep-sea mining permit
- Ooredoo to deliver Google Workspace to Omani enterprises
- Thunes introduces real-time payment services in Morocco
- Muscat Stock Exchange signs partnerships with Shanghai, Shenzhen bourses
Southeast Asia Developments
- Vietnam approves five-year crypto trading pilot with domestic firms
- Thailand extends 7% GST rate for another year, resists return to 10%
- Malaysia passes gig workers' law
- Binance Bahrain, Singapore Gulf Bank to allow direct USD transfers for retail customers
- Vietnam to host agriculture UAV, robotics center
India Developments
- Rapido overtakes Uber, Ola to become largest ridehailing platform
- Targeted financial incentives under consideration for chipsets across 25 categories
- SEBI speeds up IPO clearances, targets three-month approval process
- Bengaluru Foxconn factory to quadruple workforce amidst iPhone 17 rollout
- Bybit returns to India after FIU registration, fine
