Qatar’s esports industry is set for significant growth, with projected revenue reaching $125.70 million in 2024 and expected to rise to $152.90 million by 2027. The Qatar Esports Federation (QESF) is driving this expansion through strategic investments, government support, and a robust gaming ecosystem, positioning Qatar as a regional esports hub.
Huawei Cloud, in collaboration with Fintech Saudi, hosted the Huawei Cloud Fintech Day Saudi Arabia 2024, highlighting innovative cloud solutions for the Kingdom’s fintech industry. The event introduced the Fintech Pioneer Program, offering exclusive support to fintech companies, and emphasized the partnership’s role in driving digital transformation and fostering a robust fintech ecosystem in Saudi Arabia.
By 2031, Dubai Police will fully integrate artificial intelligence (AI) into all services, including security, crime forecasting, traffic management, and disaster response. The AI Strategic Plan 2018-2031 aims to enhance policing through AI-assisted customer service centers, smart stations, and advanced tools, aligning with Dubai’s vision for a safe, smart city.
ICAEW and UAE Banks Federation have partnered to guide companies through the UAE’s evolving digital assets landscape, with a focus on Central Bank Digital Currencies (CBDCs). The collaboration emphasizes the UAE’s leadership in financial innovation, the importance of cybersecurity, and the need for standardized accounting practices to ensure secure, compliant digital integration.
Egyptian fintech Lucky ONE has raised $3 million in a convertible note, aiming for profitability by Q1 2025. The funds will expand its credit lending services, aligning with Egypt’s financial inclusion goals. Co-founders Momtaz Moussa and Ayman Essawy emphasize sustainable growth, with plans for regional expansion and a comprehensive financial services offering.
Bahrain’s telecommunications sector showed strong growth in Q1 2024, with a 13.8% increase in mobile subscribers and a 10.2% rise in data consumption. Mobile and broadband sectors thrived, while fixed telephony saw a slight decline. The steady progress in fibre broadband infrastructure indicates a promising future for the sector.
Qatar Development Bank (QDB), in collaboration with the National Cyber Security Agency, launched the “Cyber Security Manual for SMEs” to enhance cybersecurity awareness and provide practical guidelines for small and medium-sized enterprises in Qatar. The manual addresses common cyber risks, basic security controls, and employee training, aiming to strengthen the national entrepreneurial ecosystem.
Afghanistan’s IT Minister, Maulvi Najibullah Hayat Haqqani, met with Paktika Province tribal leaders to discuss communication issues. He announced plans to build 25 new communication sites across the province, aiming to improve connectivity and address local challenges. This initiative reflects the government’s commitment to enhancing communication infrastructure in the region.
Damac Capital, the investment arm of Damac Group, reports strong ROI from its strategic investments in SpaceX and Stripe. These investments highlight the group’s commitment to advancing global technology and innovation. Damac Capital is also expanding into AI, supporting high-growth companies poised to lead in their industries and drive global economic progress.
Zain Group’s Q2 2024 results show a 79% net profit increase, with revenue growing 4% YoY to KD 479 million (USD 1.6 billion). Customer base soared 13% to 47.8 million. Key highlights include growth in 5G revenues, fintech services, and digital operator entities, despite challenges in Sudan.
