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Atomberg has achieved a significant milestone by surpassing Rs 1,000 crore in revenue for the fiscal year 2025. This accomplishment highlights the company's growth and success in the competitive market.
Moroccan fintech startup PayTic has secured USD 4 million in funding, led by AfricInvest, to enhance its payment automation solutions across North and Sub-Saharan Africa. The investment reflects growing confidence in Africa's fintech sector, which has attracted USD 1.4 billion this year. Founded in 2020, PayTic specializes in SaaS solutions for card issuers, aiming to streamline payment processes and support economic growth on the continent.
Egypt's QIZ exports are currently subject to a 10% U.S. tariff due to new trade measures. The U.S. may consider lifting these tariffs if Egypt addresses non-tariff barriers in agriculture, services, and shipping. Meanwhile, Egypt is seeking to attract manufacturing investments from China, Turkey, and Vietnam to enhance its export capabilities.
Saudi Arabia's online grocery market is poised for growth as Egypt-born quick commerce startup Rabbit expands into the Kingdom, aiming for 20 million deliveries by 2026. With online grocery transactions currently at just 1.3%, Rabbit's entry aligns with Saudi Vision 2030, focusing on digital transformation and local empowerment. The company plans to leverage its tech-driven model to tap into the $60 billion food and grocery market, enhancing the shopping experience for Saudi consumers.
Global PC shipments have reached a four-year high as companies accelerate purchases to avoid impending tariffs. This surge reflects a strategic move by businesses to secure technology assets ahead of potential cost increases, highlighting the ongoing impact of trade policies on the market.
The AIM Congress 2025 in Abu Dhabi, attended by over 25,000 participants from 180 countries, focused on investment-led growth, sustainable development, and technological innovation. Key discussions included the importance of addressing socio-economic challenges, fostering global partnerships, and showcasing advancements in future cities and mobility, such as the PAL-V Liberty FlyDrive vehicle. The event underscored the UAE's commitment to being a hub for global economic collaboration and innovation.
Saudi Arabia launched 103 new factories in January, attracting $240 million in investments and creating 1,504 jobs, as part of its Vision 2030 strategy to diversify the economy. The industrial sector continues to grow, with a 1.3% rise in the Industrial Production Index and a 10% year-on-year increase in industrial units, reaching 11,549. The Kingdom aims to have 36,000 factories by 2035, including 4,000 fully automated facilities.
China's retail sales of passenger new energy vehicles (NEVs) surged to 991,000 units in March, marking a 45% increase from February and pushing the penetration rate back above 50%. Battery electric vehicles (BEVs) accounted for 65.2% of sales, while plug-in hybrids and extended-range vehicles also saw significant growth. Overall, the NEV market is rebounding after a slow start to the year, with wholesale sales reaching 1.13 million units.
The UAE and China have reinforced their economic partnership at the AIM Congress 2025 in Abu Dhabi, focusing on trade and investment opportunities during the "Invest in China, Guangxi" session. UAE Minister of Economy Abdullah bin Touq Al Marri highlighted the importance of SMEs and the Belt and Road Initiative, while Guangxi Governor Lan Tianli emphasized the region's strategic location for enhancing ties. A Memorandum of Understanding was signed to boost cooperation in trade, research, and innovation.
Japan will sell more rice from its emergency stockpile through July to stabilize soaring prices, which have nearly doubled year-on-year due to poor harvests and panic-buying. The government has released around 210,000 tonnes so far, with the next auction of 100,000 tons scheduled for April 21. In a separate development, Tokyo-based GLOE Inc. has partnered with Saudi Arabia's Hawk Gaming Group to enhance the eSports and gaming industries in both nations, aligning with Saudi Arabia's Vision 2030 initiative aimed at making the Kingdom a global gaming hub.
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Atomberg achieves over 1000 crore in revenue for fiscal year 2025
14:50 09.04.2025
moroccan fintech paytic raises 4 million to expand across africa
13:02 09.04.2025
us may lift tariffs on egypt's exports amid trade negotiations
12:23 09.04.2025
emerging e commerce platforms reshape retail landscape in mena region
11:53 09.04.2025
global pc shipments reach highest level in four years amid tariff concerns
11:53 09.04.2025
aim congress 2025 fosters global investment innovation and collaboration in abu dhabi
United States Dollar
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11:29 09.04.2025
Saudi Arabia launches 103 new factories with 240 million dollars in investments
11:24 09.04.2025
China's NEV sales surge in March with penetration surpassing 50 percent
11:21 09.04.2025
UAE and China enhance economic collaboration at AIM Congress 2025
11:20 09.04.2025
Japan sells rice reserves to stabilize prices amid soaring demand
10:52 09.04.2025
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