Finance and Policy ME

STC project that $10bn will be invested in smart cities

Dr. Tarig Enaya, Senior Vice President of the STC Enterprise Business Unit has revealed that smart cities-associated technology investments that will take place in the next four years worldwide will reach USD 158 billion by 2022 in accordance with the IDC Report. The figure is expected to reach USD 2.7 billion (SAR 10.125 billion) in the Middle East and Africa.

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First third generation blockchain technology launched in Dubai

Relam Investment, an international investment company headquartered in Dubai, UAE, owned by local entrepreneur Sultan Ali Rashed Lootah, has announced the global launch of its third generation blockchain technology: Hetachain, which promises faster processing time and lower energy use.

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UAE adopts new regulatory framework for fintech companies

With the aim of regulating the use of fintech technology, the UAE's Minister of Economy has announced a regulatory framework for fintech companies adopting experimental licenses to conduct their operations. Similar frameworks were introduced by Dubai International Financial Centre and Abu Dhabi Global Market over the last year.

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