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global islamic finance assets reach 3.9 trillion with strong growth in 2024

The global Islamic finance industry grew by 14.9% in 2024, reaching US$3.88 trillion in total assets, with significant contributions from Islamic banking, sukuk, and takaful. The sector is expanding into non-traditional markets, driven by fintech innovations and a positive outlook for growth, particularly in emerging economies. Projections indicate the Islamic fintech sector will exceed US$300 billion by 2027, with strong growth anticipated in sukuk and Islamic banking.

brics new development bank explores funding opportunities in egypt

The New Development Bank (NDB), part of the BRICS group, is exploring funding opportunities in Egypt following the country's membership in January 2024. The NDB aims to support sustainable development and infrastructure projects, with discussions in early stages but a strong potential for growth in Egypt's economic portfolio. To date, the NDB has approved approximately USD 39 billion across 12 projects in member countries.

globalisation may be ending as trade tensions reshape economic ties

HSBC chair Sir Mark Tucker stated that "globalisation as we knew it may have now run its course," citing trade and geopolitical tensions that could reshape economic ties among regional groups and trade blocs. He emphasized that while the world won't regress into de-globalisation, new opportunities will arise, particularly among the expanding Brics group, which now includes additional countries like Iran and the UAE. Tucker noted that economic connectivity between Asia and the Middle East is expected to increase significantly in the coming years.

giig and sparkrockets launch ai tool for startup idea validation

GIIG has partnered with SparkRockets to launch an AI-driven platform aimed at helping entrepreneurs in emerging markets validate new business ideas quickly. The tool, which can create a business validation roadmap from a single sentence in just 90 seconds, was successfully piloted in Ethiopia, assisting startups in refining their concepts and attracting investors. Co-founder Jo Griffiths emphasized that this initiative significantly enhances access to resources for African entrepreneurs, leveling the playing field in the startup ecosystem.

aliexpress enhances local payment options to boost e-commerce in africa

AliExpress has expanded its local payment options across several African countries, allowing shoppers in Egypt, South Africa, Algeria, Ethiopia, Morocco, and Tanzania to transact in their national currencies. This initiative aims to enhance cross-border e-commerce by reducing transaction friction and improving payment security. The expansion coincides with a major promotional event and is part of AliExpress's broader efforts to improve logistics and customer experience in Africa.

huawei cloud stack launches program to transform telcos into techcos

Huawei Cloud Stack launched the Telco2Techco Cloud Leap Program at MWC 2025, aimed at transforming traditional telecommunications companies into technology firms. The initiative offers over 10 innovative service scenarios and extensive support, including project assistance, marketing collaboration, and training resources. With a focus on cloud computing, AI, and big data, the program seeks to enhance operational efficiency and drive digital transformation across the industry.

Huawei Cloud introduces innovative solutions to enhance carrier services and user experience

Huawei Cloud has launched its innovative Cloud Device solutions at MWC 2025, aimed at enhancing carrier innovation during the transition to 5G. The offerings include KooPhone, KooDrive, and Cloud STB, which improve user experience and service diversity while leveraging key technologies for reduced latency and efficient resource management.With successful deployments, such as with China Mobile serving 860 million users, the Cloud Device has significantly increased monthly traffic and reduced churn rates. The solutions also support innovative business models, enabling convergence across services and devices for a seamless user experience.
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