Barq, a Saudi fintech led by Ahmed Alenazi, has garnered over 1 million users in just three weeks following its public debut. Licensed by SAMA, the startup offers extensive features including digital personal accounts, Visa cards, and international money transfers, rapidly positioning itself as a major player in the fintech sector.
The collaboration aims to utilize AMD Instinct accelerators with Core42’s production workloads to enhance security and performance.
Dialog Axiata PLC reported its earnings for Q3 and the nine months ending September 30, 2024. Q3 sales decreased to LKR 42.83 billion, while net income rose to LKR 4.50 billion. For the nine months, sales were LKR 125.38 billion, with net income dropping to LKR 5.69 billion.
Oman’s Public Establishment for Industrial Estates (Madayn) has signed an investment contract with Desert Sand Mobile Trading to establish a manufacturing unit for liquefied and compressed gases in Al Mudhaibi Industrial City. The project, covering 16,000 square meters, will begin construction early next year with a budget of RO2 million.
Orange Egypt has introduced eSIM technology, allowing users to enjoy the convenience of a digital SIM embedded directly into their phones. This eliminates the need for physical SIM cards, making it easier to switch networks or phone numbers seamlessly, offering a more efficient and innovative mobile experience.
Mercy Corps and Queen for Change launched the Tahammul digital platform in Jordan to address climate change. The platform aims to improve cooperation, resource allocation, and transparency in climate action. Key dialogues at the launch focused on securing climate financing and building resilience through policies, technology, and protecting vulnerable groups.
stc Group’s Job Attachment Program has partnered with 25 global organizations, providing employees with hands-on experience and career development opportunities. The program has seen a 72% increase in participation, empowering Saudi talent and boosting innovation. It bridges the gap between education and industry, fostering growth in AI and cybersecurity.
The Bank of Bahrain and Kuwait (BBK) has deployed SymphonyAI’s AI-based anti-money laundering (AML) technology to enhance its transaction monitoring and compliance processes across multiple regions. The scalable platform improves detection accuracy, reduces false positives, and adapts to evolving regulations, strengthening BBK’s fight against financial crime.
As AI adoption grows, businesses must modernize their infrastructure with cloud-native technologies to meet increasing demands. Cloud-native solutions enable scalability, flexibility, and energy efficiency, supporting the vast computational needs of AI. This transformation is crucial for managing costs, ensuring performance, and fostering sustainability in the evolving AI landscape.
Egypt’s Minister of Communications, Amr Talaat, met with World Bank Vice President Sangboo Kim to discuss advancing digital transformation. They focused on enhancing digital infrastructure, skills, and awareness, including expanding fiber optics and digital services in rural areas. Future collaboration will include AI, data governance, and internet access expansion.
