UAE seeking to establish new economic agreements with eight countries within a year, as SoftBank makes its first investment in a Saudi company
Here’s a look at today's biggest tech stories in the MENA+:
- UAE seeking to establish new economic agreements with eight countries within a year
- Emirates offers free hotel stays for transit passengers
- UAE and Israel seek $1tn in economic exchanges on the first anniversary of the Abraham Accords
- AlphaDhabi on-site healthcare management associate Response Plus Medical Holding lists on ADX Second Market
- Tax authority reduces unpaid penalties by 30% to encourage self-compliance in tax legislation environment
- SoftBank to co-lead $125mn financing of customer communication platform Unifonic with PIF, marking first Saudi investment
- ACWA Power sets indicative price for up to $1.2bn offer, making it the biggest Saudi IPO since Aramco
- Yanbu signs investment agreement with undisclosed company to set up $39mn wind turbine factory
- Kingdom approves new personal Data Protection Law
- Kingdom seeks 50% localization target in military sector, with R&D key to creating 100,000 jobs
- Egypt Post signs cooperation agreements with Qatar Post for remittances and e-commerce
- US will withhold $130mn of military aid over human rights in Egypt
- DiDi starts operating in Alexandria, with plans to operate in New Administrative Capital with added e-bike sharing services
- Egypt to avoid imposing new taxes, plans more stimulus for private sector to boost developments
- Abu Dhabi's Aldar Properties and ADQ to acquire up to 90% of Egyptian developer SODIC
- Careem partners authorities on road safety campaign, distributing free helmets
- Lufthansa seeks to resume flights to Pakistan after 13 years
- Iran seeks establishment of digital markets with Pakistan to boost bilateral trade
- New rules announced banning unvaccinated from offices, malls, public transport and air travel
- Phone manufacturers created 10,000 jobs in just 7 months, Prime Minister's Adviser for Commerce says
Other MENA+ Developments
- 70% of Gulf patients checked have dangerous levels of cholesterol, Abu Dhabi study finds
- Africa Finance Corporation creates new asset management fund with plans to raise over $2bln to address climate risks
- Saudi education ministry signs 48 international agreements on higher education and scientific research, including with Egypt, Qatar, Pakistan
- Morocco inaugurates "Green Economy War Room" to facilitate 150 investment initiatives
- Lebanon expected to sign contract for central bank audit soon
Southeast Asia Developments
- Government reportedly urging sovereign wealth funds Temasek and GIC to list SPACs locally
- Singapore's PayNow to link with India's UPI for instant, low-cost transfers
- Malaysia's plans to introduce interest waiver and windfall tax jolt investors
- Payment services startup Xendit becomes unicorn following $150mn round
- Thailand aims to draw 1mn foreigners under new visa rules targeting wealthy, retirees, skilled and remote workers
