111
Saudi Arabia's telecom scene is buzzing with a potential major deal! TAWAL, fully owned by the Public Investment Fund, is reportedly in talks to acquire over 10,000 telecom tower sites from Mobily. This significant acquisition would dramatically increase TAWAL's assets and solidify its role as the Kingdom's leading independent tower operator, driving forward Saudi Arabia's digital infrastructure expansion.
Bank NXT and EFG Hermes have teamed up to launch Egypt's first co-branded credit card. This innovative card, designed specifically for EFG Hermes ONE clients, uniquely brings together banking and securities brokerage services, offering a seamless financial experience that connects everyday spending with investment growth.
Even with global challenges like rising costs and supply chain issues, Gulf markets are proving incredibly resilient. They're adapting well to changes, showing their strength in a tough environment.
Infinity, a company focused on AI infrastructure, has successfully closed a $15 million seed funding round, reaching a $100 million valuation. The company is developing innovative software to enable AI models to run across various chip types, aiming to reduce reliance on dominant closed platforms and offer greater flexibility to chip manufacturers.
Syria is making big strides in its digital economy! The country just announced its very first foreign investment in a tech startup, with $10 million going to the innovative 'Labby' app. This exciting move is set to supercharge Syria's digital growth and foster a thriving environment for entrepreneurs.
Egypt's government is gearing up to launch the 'Youth Economy' project. This exciting initiative aims to transform youth centers across the country into vibrant hubs for entrepreneurship and the digital economy. The goal is to connect young people with vital funding and investment opportunities, ultimately creating new jobs and boosting local development.
