Our Technology Economic News provides key insights into the financial aspects of the tech world, from Silicon Valley to emerging tech hubs.
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 …
Read more
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 …
Read more
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, …
Read more
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 …
Read more
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 …
Read more
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, …
Read more
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 …
Read more
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 …
Read more
The United Arab Emirates (UAE) is at the forefront of adopting artificial intelligence (AI) in the Middle East, propelled by several government initiatives, as revealed in an IBM study. The IBM Global AI Adoption Index 2023 has highlighted that a significant 65% of IT professionals in the UAE reported a marked acceleration in AI implementation …
Read more
A recent study has highlighted a pressing issue for organizations in the UAE: a staggering 94% of them experienced data loss in the past year, with careless employees being the primary cause. The inaugural Data Loss Landscape report, released by cybersecurity and compliance company Proofpoint, Inc., reveals the extensive impact of data loss incidents on …
Read more
Start-ups based in In5, a prominent platform fostering innovation and entrepreneurship, have successfully raised a staggering Dh3 billion, as revealed by Ammar Al Malik, Executive Vice President for Commercial at Tecom Group. In5, situated in Dubai Internet City and operated by Tecom Group, has played a crucial role in nurturing over 850 enterprises since its …
Read more
In what could be a pivotal move in the tech industry, Apple is reportedly in advanced negotiations with Google to bring the latter’s innovative Gemini AI models to the iPhone. According to Bloomberg, this potential collaboration could significantly alter Apple’s AI strategy and impact the competitive landscape of AI technology in mobile devices. The news …
Read more
In a clear signal of optimism and forward-thinking, CEOs in the Middle East are increasingly confident about economic growth in the coming years, with a significant shift in their outlook towards the integration of artificial intelligence (AI) in business operations. According to the 2024 CEO Insights Study by Arthur D. Little, 61 percent of CEOs …
Read more
In an age where technological advancements and data proliferation are at an all-time high, the importance of data protection has never been more pronounced. With the rise of data breaches, the safeguarding of confidential information has become a paramount concern, particularly in the healthcare sector. The Dubai International Financial Centre (DIFC) has responded to this …
Read more
Europe is on the brink of making history in the field of artificial intelligence (AI) regulation. On Wednesday, the continent edged closer to adopting the world’s inaugural AI-specific rules, a significant step considering the rapid proliferation of AI technologies in various sectors and daily life. This momentous development followed the EU lawmakers’ endorsement of a …
Read more