UAE consumer spending reached $3.7 billion in Q3 2024, driven by strong growth in FMCG and technology sectors. The rise of back-to-school promotions, digital shopping platforms, and convenience retail fueled this growth, with increasing adoption of online grocery services. The country’s retail landscape shows strong consumer confidence and evolving spending habits.
Reem Finance has partnered with Temenos to launch a digital community bank in the UAE, utilizing Temenos’ cloud-based core banking platform. This collaboration aims to drive innovation, streamline operations, and deliver seamless banking services to retail and corporate customers, enhancing financial inclusion and positioning Reem Finance for future growth in the sector.
du’s 5G-A Innovation Center in Dubai is poised to lead the next generation of 5G technology, driving faster speeds, lower latency, and greater connectivity. The center will explore new business models and applications for sectors like smart cities, AI, and immersive technologies, helping the UAE solidify its position as a digital leader.
The Ministry of Transport has launched a project to regulate the taxi industry and update the framework for mobile apps and electronic mobility platforms. This initiative aims to ensure fair competition, combat issues like discrimination and ride refusal, and protect consumers’ purchasing power. A new app will guarantee transparent rates by mid-2025.
Flat6Labs has invested in 10 Saudi startups as part of the fourth Riyadh Seed Program, focusing on diverse sectors such as e-commerce, logistics, and cybersecurity. These startups benefit from a four-month acceleration initiative, cash investment, and tailored support to scale their operations, positioning them for growth in Saudi Arabia and beyond.
Appknox launches AI-powered mobile security solutions in Saudi Arabia, unveiled at Black Hat MEA 2024. The platform addresses data residency, compliance, and digital threats while supporting Vision 2030’s digital transformation goals. Solutions include SAST, DAST, API security, and AI-driven test cases.
The Minister of State for IT and Telecom, Shaza Fatima Khawaja, has committed to overhauling Pakistan’s internet infrastructure. The government plans to enhance broadband access, improve coverage, and address cybersecurity challenges to ensure seamless service. Efforts include upgrading systems, enhancing tower intensity, and resolving issues affecting citizens’ internet experience.
Oman is enhancing its digital entrepreneurship ecosystem with government support, innovative initiatives, and a focus on sustainable development. With strategic investments in digital infrastructure and funding for start-ups, the country aims to become a global leader in the digital economy, fostering growth in sectors like renewable energy and agritech.
eTrade for Women is hosting its inaugural South Asia masterclass in New Delhi, empowering 25 female digital entrepreneurs from six countries. The event will tackle key challenges like access to capital and gender bias, offering insights, networking, and policy dialogue to support the growth of women-led digital businesses.
Nepal Telecom (NTC) has installed 1 Gbps FTTH connections and 4G small cells at TU Cricket Ground for seamless internet connectivity during the NPL 2024. These upgrades ensure smooth media operations and uninterrupted 4G service for up to 20,000 spectators. NTC’s support enhances the fan experience at the event.
