Our Technology Economic News provides key insights into the financial aspects of the tech world, from Silicon Valley to emerging tech hubs.
In today’s digital world, by the use of electronic gadgets, particularly the internet, it is important that the business has a well-developed web image. Custom web development deals with creating web applications that will fit a given business requirement and are capable of being functional, easy to use, and expandable. Many companies in Dubai, being …
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As the Apple Watch approaches its 10th anniversary, Apple is gearing up to introduce significant updates to its original smartwatch line, the “Series” models, this fall. According to a report by Bloomberg, these updates will include larger displays and a slimmer profile, while maintaining the overall design that users have come to recognize and love. …
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The UAE’s digital-only bank, Wio, has achieved a remarkable milestone, recording a profit of Dh2 million in 2023, marking its first full year of operations. This significant achievement underscores Wio’s rapid ascent in the banking sector, as it has become one of the fastest neo-banks globally to reach profitability. The bank reported revenues of Dh266.4 …
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Meta’s popular messaging platform, WhatsApp, is on the verge of introducing a revolutionary feature that allows users to set AI-generated images as their profile photos. This development is aimed at providing a creative alternative for individuals who prefer not to use their personal photos. This new feature, which was first reported by WABetaInfo, has been …
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The Dubai Land Department (DLD) has launched an ambitious initiative aimed at transforming the city into a leading global hub for real estate technology. Dubbed the Real Estate Evolution Space Initiative (REES), this groundbreaking endeavor is set to revolutionize the urban landscape, aligning closely with Dubai’s Economic Agenda D33. The initiative was announced as part …
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In an era dominated by digital transformation, the UAE’s payment landscape reveals a surprising trend: nearly three-quarters of all transactions still occur offline. This reality underscores a significant opportunity for growth in the digital payments sector, according to Marwan Nader, Director of Global Partnerships at PayerMax. Speaking at the sidelines of Seamless Middle East 2024, …
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In a significant development for global financial transactions, TerraPay, a leading global money movement company, has formed a strategic partnership with Al Ansari Exchange, the largest remittance and foreign exchange service provider in the UAE. This collaboration was announced at Seamless Middle East 2024, emphasizing both entities’ commitment to revolutionizing the remittance ecosystem through advanced …
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The HUAWEI nova 12s, a recent addition to Huawei’s renowned nova series, is capturing the attention of the smartphone market with its exceptional features. Designed for the ‘nova stars’ – a generation that thrives on social media and self-expression – this device showcases Huawei’s commitment to providing high-end technology to its users. The HUAWEI nova …
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The United Arab Emirates has made a significant leap in logistics and supply chain management with the launch of its first 5G Smart Warehouse, a joint venture between Huawei and a local carrier. This groundbreaking project, located in the Dubai South Freezone, represents a major step forward in the digital transformation of the UAE’s logistics …
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In a significant development for the Indian diaspora and tourists in the UAE, PhonePe, a widely-used app in India, has expanded its services to the United Arab Emirates. This move allows users of the PhonePe App in the UAE to make payments at Mashreq’s NEOPAY terminals, which are available across numerous retail stores, dining outlets, …
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In an exciting development for Android users, Meta-owned WhatsApp has unveiled a major redesign of its app interface. The popular messaging platform has shifted its navigation bar from the top to the bottom of the screen, significantly enhancing ease of use. This change is particularly beneficial for one-handed operation, as it brings key features like …
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In a rapidly evolving global economy where companies are reassessing their technology investments, Indian tech giant Zoho has emerged as a pivotal player. Reporting a remarkable 43 percent revenue growth last year, Zoho has positioned itself as a leader in the business technology arena, amassing over 100 million users worldwide. This surge in growth and …
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Huawei Technologies Co., a leading name in the networking and electronics sector, has continued its impressive streak of robust quarterly profit growth, gaining ground against industry giants such as Apple Inc. and Alibaba Group Holding Ltd. The Chinese firm reported a substantial net profit of approximately 13.9 billion yuan ($1.9 billion) for the December quarter, …
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In a move poised to significantly transform the global banking landscape, SWIFT, the renowned global bank messaging network, is gearing up to launch a groundbreaking platform designed to integrate the burgeoning wave of central bank digital currencies (CBDCs) with the existing financial system. This ambitious project, as disclosed to Reuters, is scheduled for rollout within …
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Xiaomi, a prominent Chinese electronics maker, is making significant strides in the electric vehicle market with its first EV, the SU7, touted as the “best looking, easiest to drive and smartest car” under 500,000 yuan ($69,424). This announcement from CEO Lei Jun, shared on his official Weibo account on Monday, marks a pivotal moment as …
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