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Egypt's B2B sector is losing between $3.5 billion and $4.5 billion annually, as 80% of firms with an online presence are deemed "digital ghosts," lacking engagement and visibility. Despite a strong tech talent pool and growing global demand, many companies fail to leverage digital strategies effectively. ThruHQ's report highlights the urgent need for improved digital practices to unlock significant growth opportunities in the market.
Bilateral trade between Pakistan and the UAE exceeded $10.9 billion in FY24, highlighting a robust economic partnership. Key agreements worth over $3 billion were signed in January 2024, focusing on railways and infrastructure, while remittances from the Pakistani community in the UAE reached $6.7 billion. The trade dynamics showed a 41.06% increase in Pakistan's exports, contributing to a significant reduction in the trade deficit.
ShopUp and Sary have merged to form SILQ, aiming to create the largest B2B commerce ecosystem in the Middle East and Emerging Asia, projected to reach $682 billion. Backed by major investors, SILQ will enhance financial services for SMEs and establish a regional headquarters in Qatar.Meanwhile, Saudi Arabia's STUCK? has raised a high six-figure pre-seed round to innovate Arabic content creation through AI, while UAE's Rentify has secured $500,000 to digitize the rental market with AI-driven solutions, enhancing tenant and landlord experiences.
Saudi Arabia's AI-powered language intelligence platform, STUCK?, has secured a high six-figure pre-seed funding round led by Mena Tech Fund, alongside KAUST Innovation Fund and notable Saudi investors. Founded by Asmaa Naga in 2022, the platform focuses on enhancing Arabic content through AI, offering flexible workflows for businesses. With plans to expand language offerings and develop on-premise solutions, STUCK? is setting a new standard for women in tech, with a team comprised of 93% women.
Rentify, a UAE-based FinPropTech startup, has raised $500,000 in pre-seed funding to revolutionize the rental market with AI and automation, onboarding AED 1.5 billion in property. The platform offers features like 'Rent Now, Pay Later' and zero paperwork, aiming to enhance the rental experience for landlords and tenants alike.Meanwhile, the UAE has been ranked first globally in the 2024-2025 Global Entrepreneurship Monitor for the fourth consecutive year, showcasing its robust support for startups through favorable policies and a commitment to innovation. The country aims to host one million SMEs by 2031 as part of its national vision.
Bilateral trade between New Zealand and the UAE surged to $762 million in 2024, with a notable $240 million in the last quarter alone. The Comprehensive Economic Partnership Agreement (CEPA) is set to triple trade to $5 billion by 2032, enhancing investment opportunities in sectors like infrastructure and renewable energy.
Banks in the UAE and Saudi Arabia are rapidly adopting AI technologies, with 71% of UAE financial institutions and 55% in Saudi Arabia enhancing their AI capabilities in the past year. This shift is expected to contribute $320 billion to the region's GDP by 2030, with significant investments driving operational modernization and improved customer experiences. Decision-makers in both countries show strong interest in generative AI, aiming to automate tasks and enhance IT operations, positioning the region for substantial economic growth.
Dubai Duty Free reported a remarkable surge in sales for Q1-25, exceeding Dh2.06 billion, with a notable contribution from Dubai Chocolate. The growth reflects a strong demand and successful product offerings in the retail sector.
Sheikh Hamdan bin Mohammed Al Maktoum's two-day state visit to India marks a significant step in the UAE–India Comprehensive Strategic Partnership, enhancing economic and diplomatic ties. Welcomed by Prime Minister Modi, the Crown Prince engaged in discussions with key Indian ministers, focusing on defense collaboration and trade, with bilateral trade reaching $83.62 billion in FY2023–24. His visit underscores the UAE's role as India's third-largest trading partner and highlights the growing Indian diaspora in Dubai.
Abu Dhabi's non-oil trade surged to Dh306 billion in 2024, marking a 9% increase from the previous year. Non-oil exports rose by 16% to Dh107.8 billion, while re-exports grew by 11% to over Dh58 billion. This growth reflects the emirate's favorable business environment and proactive trade policies.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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