Space42, formed from Al Yah (YahSat) and Bayanat AI, launched its Thuraya 4 satellite to replace older units. The satellite supports a $799 million revenue backlog, with plans for Direct-to-Device services. The UAE government has committed $800 million over 15 years to support Space42’s ambitions in global non-terrestrial communications.
stc pay has partnered with Mastercard Move to become the first in Bahrain to offer secure remittances to Alipay, China’s leading digital platform. This collaboration enhances stc pay’s digital ecosystem, providing secure, efficient international transactions between Bahrain and China, and aligning with both nations’ strategic business cooperation.
Newlab has expanded into Saudi Arabia with a strategic partnership to foster critical-tech startups. The new Riyadh hub, set to open in 2025, will support commercialization, offering essential infrastructure and innovation programs. The first program, The Mining Innovation Studio, focuses on tech solutions for challenges in the mining sector.
SAP has launched its Business Technology Platform (BTP) on Google Cloud in Saudi Arabia for regulated customers. The collaboration supports digital transformation within government and critical infrastructure sectors, providing secure cloud solutions that align with Saudi Vision 2030. The initiative enhances performance and scalability while ensuring compliance with local regulations.
MCCI Dhaka has recommended integrating mobile financial services with Bangladesh’s National Payment Switch, establishing independent credit-scoring agencies, and launching digital banks to address financial inclusion gaps. These measures aim to boost the country’s digital financial services, enhance e-commerce growth, and improve access to loans for underserved groups.
Bank Alfalah has acquired a 9.9% stake in Jingle Pay, a UAE-based fintech specializing in cross-border remittances. The partnership will enhance Bank Alfalah’s digital transformation and support Jingle Pay’s expansion, including a planned launch in Pakistan in early 2025. Jingle Pay processed $1 billion in remittances in 2024.
In 2024, Algeria’s FGAR funded 386 SMEs with a total of USD 427 million, creating over 8,000 jobs. The fund provided loans and financial guarantees across various sectors and regions, supporting business growth. Additionally, it recently expanded loan offerings to include both investment and operating loans.
Google Pay is set to launch in Pakistan by mid-March 2025, allowing users to link debit and credit cards to Google Pay for seamless contactless payments. The service, in collaboration with Visa, Mastercard, and local banks, will help boost Pakistan’s growing digital payments sector, initially focusing on basic payments.
stc Bahrain’s “Trees for Life” campaign reached a major milestone by planting over 55,000 trees since 2021. In 2024, 27,172 trees were added to green spaces across Bahrain. The initiative supports the country’s national afforestation plan, helping achieve environmental sustainability and Bahrain’s vision of net-zero emissions by 2060.
Qatar’s Ministry of Communications and Information Technology launched the National Digital Authentication and Trust Services Strategy 2024-2026 to support the country’s digital transformation. The strategy focuses on creating a secure digital identity, enhancing collaboration across sectors, and promoting innovation while improving the efficiency of electronic services.
