Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) has announced plans to invest EGP 1 billion in the digital sector, focusing on technological infrastructure and cybersecurity. This strategic move comes as the bank records net profits of EGP 6.80 billion for the nine-month period ending September 30, 2024.
Qara, an Egyptian supply chain technology startup, has secured $2.6 million in funding to expand into Saudi Arabia. The platform ensures product authentication and traceability, benefiting over 50,000 users across multiple countries. This expansion aligns with Vision 2030 and highlights Qara’s role in driving innovation in the region.
Wazoku has expanded into the GCC region by establishing a UAE presence, investing in local server infrastructure, and partnering with FKRA for market expertise. This strategic move supports innovation management needs, builds on Wazoku’s track record, and aligns with the UAE’s R&D goals.
e& UAE and Open Innovation AI have launched a dedicated AI Lab to drive the UAE’s AI strategy, focusing on advanced AI technologies and fostering innovation across sectors like healthcare, finance, and government. This collaboration aims to position the UAE as a global leader in AI by 2031.
The UAE’s data centre market is set to grow significantly, with an expected 9.95% CAGR over five years, making it a $2.64 billion industry by 2029. This growth has led to increased demand for specialist cleaning services that meet stringent international standards.
Cisco reports a surge in identity-based attacks and ransomware in the Middle East, with 25% of incidents targeting credentials and 40% involving ransomware. Education, manufacturing, and financial services were most affected. Cisco will showcase advanced cybersecurity solutions and AI innovations at Black Hat MEA 2024 to address these growing threats.
Orange Jordan sponsored three editions of the Model United Nations to engage over 700 students in learning about global issues and the UN’s role. The event emphasized student empowerment, skill-building, and leadership, supporting the development of a new generation ready to tackle the world’s challenges and contribute to sustainable progress.
Sri Lanka’s data consumption surged by 11% in 2024, with mobile data making up nearly 69% of the total consumption. Despite a 6% decline in fixed broadband subscriptions, mobile broadband continued to grow. Over half the population actively uses platforms like WhatsApp, Facebook, and YouTube, highlighting the shift to mobile data.
Pakistani tech companies are expanding into Singapore and Southeast Asia, marking a strategic shift to diversify tech exports and capitalize on the region’s growing digital economy. The participation of Pakistani firms in events like Singapore Tech Week and the FinTech Festival highlights their focus on software development, fintech, and AI.
Omantel’s “Innovative Media” initiative successfully trained 200 media professionals in Oman, focusing on artificial intelligence to boost the digital economy. Workshops held in Muscat and Dhofar provided practical AI skills, helping participants integrate new technologies into their media work. The initiative aligns with Oman Vision 2040’s digital goals.
