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Technology news from the Middle East. All the important stories, exclusive interviews, plus authoritative opinion and analysis

RedSea founders Ryan Lefers, right, and Mark Tester

RedSea rules out listing in search for growth

Sustainable agriculture business RedSea has revealed plans to raise extra funds, but has ruled out a listing for the company for the moment. Founded in 2018 by plant scientist Mark Tester, agriculture engineering expert Ryan Lefers and material scientist Derya Baran, the Saudi-based agtech startup aims to find ways to feed populations in the face […]

Koreans tap cash-giving apps to help beat rising inflation

Throngs of people have been milling seemingly aimlessly around the forecourt of a museum in central Seoul, brushing silently past each other with heads bent toward smartphones while fingers frantically tap screens – in the latest money-making trend. Walking 10,000 steps, completing tasks such as subscribing to social media, or just tapping the screen when […]

CEO Hasan Fardan Al Fardan said the company was about to conclude a deal with a 'buy now, pay later' fintech

Al Fardan Exchange chases fintech tie-ups

Al Fardan Exchange is ramping up its digital business to compete in the technology-driven financial services industry.  The 50-year-old money transfer and currency exchange house plans to forge partnerships with fintech firms to double down on growth. Digital transactions currently make up 15 percent of UAE-based Al Fardan’s business via an app that was launched […]

Tech layoffs Middle East Video length: 03:47
  • Video

Middle East tech sector’s hire and fire conundrum

The mass layoffs in the global tech sector last year were the highest since the dot-com bubble burst in 2001, but they are not necessarily a reflection of the job market globally or in the Middle East, according to a Dubai-based digital transformation and Web3 expert. “The layoffs only constitute 10 percent of all the […]

M42 CEO Hasan Jasem Al Nowais

M42 buys European dialysis group Diaverum

Abu Dhabi’s newest tech-enabled healthcare company, M42, has made its first investment with the acquisition of Diaverum, a global renal care service provider. The value of the deal for Bridgepoint Group’s European dialysis clinic chain was not disclosed, although previous reports by Bloomberg suggest it could be in the region of $2.5 billion. M42 launched […]

Graphene Innovations Manchester signs deal with Quazar Investment to set up a UAE company to scale up graphene-based technologies

UK-UAE deal to roll out ‘miracle material’ graphene

A University of Manchester company has forged a $1 billion partnership in the UAE to spearhead the drive to commercialise graphene, the “miracle material” that’s stronger than diamond, more conductive than copper and more flexible than rubber. Graphene Innovations Manchester (GIM) has signed a memorandum of understanding with Quazar Investment Company to set up the […]

GCC consulting market to exceed $4 billion

The GCC consulting market is expected to pass $4 billion in revenues this year, as the huge raft of giga-projects continue to transform the region. According to a report from UK research firm Source, the region’s consulting sector witnessed almost 16 percent growth in 2022 to reach $3.87 billion. Dane Albertelli, research analyst at Source, […]

5G UAE

Malaysia to launch new 5G network next year

Malaysia plans to introduce a second 5G network from next year, four sources told Reuters. It is the latest policy shake-up aimed at dismantling monopolies and promoting competition from Prime Minister Anwar Ibrahim’s six-month-old administration. Malaysia’s 5G roll-out by state agency Digital Nasional Berhad (DNB) has experienced repeated delays since its launch in December 2021 because of industry concerns over […]

As consumer spending on smartphones and laptops drops due to inflationary pressures, spending by businesses on data centre systems is also set to fall by 3.5% this year

Mena IT spending to lag behind global average

IT spending across the Middle East and North Africa is forecast to drop below the global average this year as rising inflation dents consumer spending. While global growth in IT spending is expected to hit 5.5 percent by the end of this year, predictions for the Mena region show just a 2 percent increase, according […]

Sam Altman, CEO of OpenAI, is visiting Dubai as part of a global PR blitz aiming to dispel concerns about ChatGPT

ChatGPT founder’s visit gets Dubai talking about AI

Sam Altman, CEO of OpenAI, the company that created controversial artificial intelligence-powered chatbot ChatGPT, is heading to Dubai this summer as part of a world tour to meet with users, developers and policymakers. Industry observers say the executive’s stop in the city is recognition of the Gulf’s digital advancement and anticipate that OpenAI will establish […]

China’s Didi Global to roll out robotaxis by 2025

Chinese ride-hailing giant Didi Global has said that it is working with carmakers in the country to develop its own robotaxis, which it aims to put into service by 2025, after revealing a concept vehicle with robotic arms it called “Didi Neuron”. The company said that it is collaborating with multiple new energy carmakers in […]

Elon Musk says Twitter is ‘roughly breaking even’

Twitter Inc CEO Elon Musk has said the social media company is “roughly breaking even”, as most of its advertisers have returned and its aggressive cost-cutting efforts have started bearing fruit after massive layoffs. Musk, in an interview with BBC broadcast live on Twitter Spaces, said Twitter has about 1,500 employees now, a sharp decline […]

trade show. munitions, defence

Brazil now has the Edge in defence technology

Technology and defence giant Edge Group is opening a new regional office in Brazil’s federal capital, Brasilia.  The office is part of Abu Dhabi-based Edge’s plans to take advantage of opportunities in local markets as experts expect defence spending in Brazil to increase to nearly $25 billion this year.  The announcement was made at LAAD […]

Presight AI Abu Dhabi Securities Exchange bell ringing

Gulf IPO market could ride out global jitters with state offerings

A wave of initial public offerings in Abu Dhabi shows little sign of abating, despite global market jitters and rising interest rates as investors bet on the emirate’s part-privatisation drive. While Saudi Arabia and Dubai’s bourses have also offered a flurry of new listings over the past 18 months, it’s the UAE capital that is […]

People, Person, Adult, Careem

e& takes $400m majority stake in Careem

The former Emirates Telecommunications Group Company, e&, has acquired a $400 million majority stake in Careem. The super-app, which is owned by Uber, offers multiple services such as ordering taxis, grocery shopping and mobile payments. e& has taken a 50.03 percent share of the company, which has operations in over 80 cities, covering nine countries […]

Person, Human, Clothing

China’s Huawei plans Riyadh Middle East headquarters

China’s Huawei Technologies Co plans to make Riyadh its headquarters for the Middle East as the country develops its diplomatic and business ties with Saudi Arabia. Huawei, which has offices in the Saudi capital and other Middle East cities, is in talks with authorities in Riyadh to “upgrade its presence in the country”, Bloomberg reported, […]

mobility startups UAE

UAE’s Cafu launches EV charging solution in Canada

UAE-based fuel-on-demand car service Cafu has forayed into Canada with an on-demand electric vehicle (EV) charging solution.  The EV charging solution aims to support users with no access to home charging, the company said in a statement.  Cafu’s new service will allow car owners in Quebec to request the Cafu truck to come to their location, […]

China’s Baidu sues Apple over fake Ernie bot apps

Chinese search engine giant Baidu has filed lawsuits against “relevant” app developers and Apple Inc over fake copies of its Ernie bot app available on Apple’s app store. The company’s artificial intelligence powered Ernie bot, launched last month, has been touted as China’s closest answer to the US-developed chatbot ChatGPT. Baidu said it had lodged […]

Osman Sultan

Osman Sultan on Mena’s move from ‘telco’ to ‘techco’

Osman Sultan proclaimed in 1997 he would put “a mobile in the hand of everyone” in Egypt. At the time, even some shareholders at Egyptian Company for Mobile Services (MobiNil), where he was CEO, were unsettled by his audacious statement.  Egypt’s telecoms regulator granted him a licence to become the country’s first mobile operator, but […]