Yuze, a UAE-based FinTech, raised $30 million in a funding round led by Osten Investments to expand its financial services for SMEs, e-traders, and freelancers. The investment will support Yuze’s growth into new markets, aiming to reach one million customers in five years, and advance financial inclusion for SMEs.
The UAE’s Telecommunications & Digital Government Regulatory Authority (TDRA) has launched the operational phase of its ICT Regulatory Sandbox. This initiative allows new tech products and services in the ICT sector to be tested in a controlled environment before market release. It aims to ensure appropriate legislative responses and foster innovation and entrepreneurship.
The UAE’s AI Office and Samsung Gulf Electronics have partnered to integrate Samsung’s Innovation Campus into the UAE AI Camp 2024. This collaboration aims to enhance AI education for UAE youth, aligning with the UAE’s AI Strategy 2031. The initiative offers comprehensive training in AI, machine learning, and emerging technologies, fostering innovation and digital literacy.
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.
The UAE saw an 11.7% rise in malware detections from January to May 2024, amid global cybersecurity challenges. Acronis’ H1 2024 Cyberthreats Report highlights a 293% surge in email attacks and rising ransomware threats. The report underscores the need for advanced protective measures and comprehensive security strategies for organizations.
UAE telecom operators e& and du paid AED3.54 billion in federal royalty for H1 2024, down from AED3.73 billion in H1 2023. The new royalty guidelines exclude international profits, applying a 38% rate on UAE net profits and a 9% corporate tax rate.
UAE-based AI company G42 is collaborating with U.S. partners and the Emirati government to meet global AI standards amid concerns about ties to China. Following Microsoft’s $1.5 billion investment, U.S. lawmakers fear technology transfer to China. G42 emphasizes its commitment to complying with the highest global standards in AI development and deployment.
Al Yah Satellite Communications Company (Yahsat) reported a 62% increase in H1 net income to AED269 million, despite a 3% revenue drop. EBITDA surged 25%, driven by growth in key segments. Yahsat’s strong cash position and future contracts secure long-term financial stability amid strategic pivots and upcoming satellite launches.
Samsung Gulf Electronics has launched Samsung TV Plus in the UAE, a free ad-supported TV service available on 2022-2024 Samsung TV models. The platform offers diverse live channels and content, including news, sports, and entertainment, aiming to enhance customer experience with 24/7 access in both English and Arabic.
Bayanat, a leading AI-powered geospatial solutions provider, and South Korean autonomous technology firm Autonomous a2z, have announced a joint venture to develop and deploy autonomous systems in the UAE and the wider MENA region. This partnership was launched at the DRIFTx event in Abu Dhabi, showcasing a teleoperated vehicle from South Korea, and aligns with UAE’s technological innovation goals.
