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Disrupt.com, a UAE-based venture builder, has committed $100 million to fund AI-first startups globally, focusing on sectors like AI, cybersecurity, Web 3.0, automotive tech, and retail innovation. With $40 million already deployed, the firm aims to co-build and support high-growth companies, leveraging its expertise to navigate a challenging funding landscape. Journify, a platform launched in March 2024, has quickly achieved $1 million in annual recurring revenue, enhancing marketing performance through AI-driven data solutions and strategic partnerships with major tech companies.
UAE-based Journify has secured $4 million in funding to enhance its AI-powered customer data solutions, addressing rising customer acquisition costs and improving marketing efficiency. The platform, launched in March 2024, has already achieved significant growth, including a 50% increase in return on ad spend for clients.Meanwhile, Disrupt.com has committed $100 million to support AI-first startups across five strategic sectors, including cybersecurity and retail innovation, aiming to capitalize on the evolving tech landscape despite a contracting funding market in the MENA region.
Apple CEO Tim Cook has teased the upcoming MacBook Air, expected to feature the M4 chip. Meanwhile, Dubai's startup ecosystem thrives, with over 37,800 companies and significant funding, bolstered by incubators like in5 and DTEC, attracting global talent and investment, particularly from Indian entrepreneurs. The emirate is positioning itself as a leading hub for innovation and entrepreneurship, fostering collaborations and scalable growth.
SC Ventures and Visa have joined forces to empower SMEs in the MENA region, focusing on innovative financial solutions to foster digital growth. This partnership, formalized through a Memorandum of Understanding in Dubai, aims to enhance the SME ecosystem, which contributes over 63.5% of the UAE's non-oil GDP, by providing essential tools and resources for navigating the digital economy. Key initiatives include workshops and a proof of concept for joint offerings, positioning SMEs for significant growth as the sector is projected to reach one million businesses by 2030.
Dubai Electricity and Water Authority (DEWA) will install new electric vehicle charging stations in partnership with Parkin Company PJSC in early 2025. These 22 kW AC stations will be located in high-density residential areas, allowing users to pay for charging and parking through Parkin’s app. This initiative aims to expand DEWA’s network from 740 to 1,000 charging stations by year-end, supporting the UAE’s climate goals and enhancing EV adoption.
The FiNext Conference 2025 successfully concluded its 7th edition in Dubai, showcasing innovations in finance and technology. Held at the Pullman Dubai Downtown Hotel, the event honored outstanding achievements in both traditional finance and FinTech, featuring notable awardees and esteemed speakers from the industry. With a focus on fostering collaboration and networking, FiNext continues to redefine excellence in the financial sector.
Mintoak, a Mumbai-based fintech startup backed by PayPal, has acquired Digiledge for $22.9 million. Digiledge, specializing in bill payments and Central Bank Backed Digital Currency (CBDC), will operate as a subsidiary, enhancing Mintoak's offerings to small enterprises.Mintoak, which processes $3.4 billion monthly for three million merchants, aims to leverage Digiledge’s capabilities to facilitate digital currency transactions and expand its services further, having already extended its reach to Kuwait, UAE, Tanzania, and Mauritius.
Dubai's Salik has announced that it will distribute 100% of its net profit for 2024 as dividends, amounting to a total of Dh1.16 billion. This decision reflects the company's commitment to returning value to its shareholders.
OPEC+ has announced an increase in oil production for the first time in two years. This decision marks a significant shift in the group's strategy as it responds to changing market conditions. The move is expected to impact global oil prices and supply dynamics.
OPEC+ has announced an increase in oil production by 138,000 barrels per day starting April 1, 2025, marking its first output hike since 2022. This decision, made during a virtual meeting of eight member nations, is based on positive market conditions and will be flexible to adapt to market stability.Following the announcement, oil prices fell, with Brent crude dropping 2% to below $72 a barrel. The group also committed to compensating for overproduced volumes since January 2024, with plans to complete this by June 2026.
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