Volkswagen has raised its planned investment in a joint venture with US electric car maker Rivian to $5.8 billion, an increase of $800 million from the initial investment announced in June. Oliver Blume, CEO of Volkswagen, said during a press conference that the company expects to use Rivian’s technologies across a wide range of markets and brands, according to CNBC. He added that it is expected that Rivian software will begin integrating with the Volkswagen brand, then Audi, in addition to the upcoming brand, Scott. For his part, Rivian’s CEO said in a statement: We are happy to see our…
Author: nour mohamed
Apple is gearing up to announce a new smart home hub, according to Bloomberg’s Mark Gurman. As early as March 2025, the iPhone maker could release a tablet that mounts to your wall, controls smart home appliances, does video calls, and of course features Apple Intelligence. The device reportedly has a 6-inch touchscreen, but it’s expected that, like a HomePod, it will use voice to control it, either through Siri, Apple Intelligence, or an upcoming system called “App Intents” that lets AI control applications. It supposedly runs on a new OS, with sensors to detect how close a person is,…
resident-elect Donald Trump announced on Tuesday that Elon Musk will co-lead the Department of Government Efficiency. The CEO of Tesla, SpaceX, xAI, Neuralink, and owner of X, will lead the department alongside biotech entrepreneur and former presidential hopeful, Vivek Ramaswam. to pave the way for Trump’s administration to “dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies.” according to the press release, DOGE will “provide advice and guidance from outside of Government,” which suggests it will not be an official government agency that requires legislative approvals and funding. Rather, DOGE will partner with the White House…
The Information Technology Industry Development Agency (ITIDA) is proud to announce the participation of eight leading Egyptian tech companies at Electronica 2024, the premier global trade fair for electronics, held in Munich, Germany, from 12 to 15 November. This milestone showcases Egypt’s strategic advancements in digital innovation, underscoring the country’s emergence as a dynamic global hub for high-tech services and electronics design and manufacturing. ITIDA’s commitment to empowering local innovators aligns with Egypt’s vision to underpin its position as a leading IT offshoring destination and a hub for technology innovation. Participating companies, including Brightskies, Atoms, and MEMS Vision, represent a…
Noventiq, leading global information technology provider, announced its participation for the first time in the 28th session of Cairo ICT, the Egyptian International Technology Exhibition for the Middle East and Africa, which will be held under the patronage of His Excellency President Abdel Fattah El-Sisi from November 17 to 20. This year, the focus of the exhibition is on “THE NEXT WAVE”, to reflect future trends in the technology and communications sector. Noventiq Egypt was established following Noventiq’s acquisition of the Egyptian company DigiTech in 2021, positioning the company at the forefront of innovation in the information technology sector. Noventiq…
Today, Amazon.eg announces the kick-off of 11.11 sale event, taking place from November 7 to 12, providing customers with tens of thousands of epic deals across 30 product categories including Electronics, Fashion, Beauty, Home and Kitchen Appliances, in addition to Everyday Essentials from local and international brands. This is in addition to new collaborations with select banks to provide more value and flexible payment solutions. Prime members can enjoy early access to the sale event starting November 7, ensuring they can secure the best deals, coupled with free and fast delivery, in addition to entertainment perks. During 11.11 sale event,…
IBM and Environment Without Borders Foundation (EWBF) announced the launch of Green Taqa, an innovative platform ecosystem designed to expand access to clean energy resources and providers for communities across Egypt. This initiative, a collaboration through the IBM Sustainability Accelerator, aims to facilitate access to, track usage of, and provide user support for clean energy. The announcement took place at Tech Heritage, an IBM Business Partners exclusive event; in the presence of H.E Dr. Amr Talaat, Egypt’s Minister of Communications and Information Technology, as well as IBM global and regional leaders, including Jonah Smith, VP of ESG Strategy and Programs,…
Businesses and consumers paying into and out of the Middle East and North Africa (MENA) region will benefit from faster, cheaper and more transparent cross-border payments through a first-of-its-kind public-private collaboration between Mastercard and the Arab Regional Payment System, Buna. The collaboration will see Mastercard join Buna’s cross-border payment systems as a direct participant. The collaboration will provide a simple, efficient and practical solution to current challenges that include high costs, long wait times and lack of transparency when moving funds into and out of the MENA region. Buna’s Real-Time Gross Settlement service, with its extended operating hours, and Instant…
Huawei Cloud hosted its first Fintech Summit 2024 in Egypt under the theme “Unlock New Growth with Huawei Cloud” to shed light on end-to-end cloud services tailored for fintech in Egypt. The summit, which brought together key stakeholders in Egypt’s fintech ecosystem, showcased Huawei Cloud’s cutting-edge solutions designed to address the specific needs of fintech companies. These include Huawei Cloud KooVerse, with its extensive global coverage of 33 Regions, 93 availability zones, and over 2,800 CDN nodes worldwide, offering low-latency infrastructure for seamless payment processing, and cloud-native database solutions that provide superior performance and scalability. This robust infrastructure is crucial…
Majid Al Futtaim, a leading pioneer in shopping malls, communities, retail, and leisure across the Middle East and Africa, celebrated City Centre Almaza’s fifth anniversary, underscoring its significant achievements in fostering economic growth, community engagement and innovative shopping experiences since entering the Egyptian market. A press conference was held to highlight the mall’s focus on sustainability, local economic contributions and creating memorable experiences for every visitor. A Transformative Investment in Egypt’s Retail Landscape With strategic investments totalling approximately $550 million, City Centre Almaza has profoundly impacted Egypt’s retail sector. These investments have enabled infrastructure enhancements, thousands of job opportunities, and…
Dell Technologies signed a Memorandum of Understanding (MOU) with Hassan Allam Holding at Dell Technologies Forum in Cairo on October 8th. Through this agreement, Dell will provide services and solutions across servers and storage and potentially extend the collaboration to include client, backup, and recovery solutions. The MoU was signed by Tarek Heiba, Managing Director, Egypt at Dell Technologies and Aly Kouriem, Group IT Director, Hassan Allam Holding to fuel growth and enhance efficiency across various operations.
e& International has signed a memorandum of Understanding (MoU) with global tech leaders Huawei, Ericsson, Nokia, and Intel to transform its mobile networks using artificial intelligence (AI). Centered around a shared ambition to revolutionise e&’s mobile network infrastructure, this landmark collaboration is set to redefine the telecommunications landscape by laying the groundwork for an “autonomous network” strategy that aligns with the Group’s digital transformation objectives. Backed by TM Forum, an alliance of 800+ global companies this association aims to help e& achieve Level 4 autonomy in its mobile networks by 2030, a major milestone in its digital transformation journey to…
Samsung Electronics today announced it has been recognized by Interbrand, a global brand consultancy, as a “Global Top 5” brand for the fifth year in a row. Interbrand releases its list of “Best Global Brands” each year, and on this year’s list, it was revealed that Samsung’s brand value reached $100.8 billion and grew by 10% year on year. The significant increase in Samsung Electronics’ brand value was driven by growth in the AI industry, particularly its leadership in on-device AI and competitiveness in the semiconductor sector. Since its first top-five ranking in 2020, Samsung Electronics has experienced an impressive…
Deloitte has officially launched its Innovation Hub in Cairo, marking a significant milestone in its commitment to driving innovation and harnessing top-tier talent in Egypt. The event was graced by the presence of His Excellency, Amr Talaat, Egypt’s Minister of Communications and Information Technology, along with CEO of the Egypt’s Information Technology Industry Development Agency (ITIDA), Ahmed El Zaher. The official delegation was received by the CEO of Deloitte North and South Europe, Richard Houston, the CEO of Deloitte Middle East, Mutasem Dajani, in addition to Deloitte Innovation Hub leader, Hani Girgis. This strategic investment, totaling $30,000,000 over three years,…
The Creative Industry Summit Annual Festival 2024 marked a milestone in the creative economy with a stellar celebration of its 10th anniversary, held on October 21-22 at Cairo Business Park, by its strategic partner Misr Italia Properties, for the third consecutive year. Themed Impact Beyond Years, this year’s festival brought together over 170 speakers and thousands of attendees from across the MENA region and the globe. The festival addressed critical challenges and opportunities through dynamic panel discussions, keynote speeches, fireside chats, and workshops across industries such as marketing, advertising, fashion, design, visual arts, film, TV, media, technology, Artificial Intelligence, real…
e& and PPF Group (“PPF”) today announced the successful completion of their landmark partnership, with e& acquiring a controlling stake (50% plus one economic share) in the service and infrastructure companies of PPF Telecom Group (“PPF Telecom”) across Bulgaria, Hungary, Serbia and Slovakia. This acquisition marks a significant step in e&’s ongoing global expansion ambitions, diversifying and growing its geographical presence to 38 countries. This milestone is poised to transform the telecom landscape in the Central and Eastern Europe (CEE) region and deliver enhanced value to over 10 million customers across the four markets. The partnership will provide them access…
The National Telecommunications Regulatory Authority of Egypt (NTRA) announced it will start taking all necessary legal measures against a well known real estate company and refer it to Prosecution after getting many complaints from citizens about receiving telemarketing calls increasingly from this company during the recent period of time, and double-checking the validity of such complaints. NTRA also made sure these calls were conducted in violation to law, as well as to the regulations issued by NTRA on using mobile lines for conducting commercial as well as telemarketing calls. Furthermore, NTRA confirmed it will start taking all legal measures against…
Suez Canal Bank has signed a facility agreement worth EGP 1.2 billion with Madkour Group. This collaboration aims to strengthen the bank’s partnership base by providing innovative and flexible financing solutions to various organizations, thereby contributing to the expansion of their operations and the achievement of their strategic objectives. The signing ceremony was attended by Mr. Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, Mr. Shehab Zidan, Deputy CEO and MD, Mr. AlHaytham ElKobbrosly, Head of Corporate and Investment Banking Services of Suez Canal Bank, Dr. Mostafa Madkour, Chairman and CEO of Madkour Group, Mr. Haitham Kassem,…
تقترب دبي من أن تصبح مدينة «لا نقدية» بحلول عام 2026، وذلك وفقاً لاستراتيجية «دبي اللانقدية» التي تهدف إلى التخلص التدريجي من المعاملات النقدية في القطاعين الحكومي والخاص، ما يقود المدينة نحو أن تصبح بلا نقد تماماً. وبحلول عام 2026، من المتوقع أن تكون 90% من جميع المعاملات رقمية، ما سينتج عنه فوائد اقتصادية كبيرة، بما في ذلك زيادة متوقعة تزيد على 8 مليارات درهم سنوياً. وأوضح تقرير لمجموعة «أول سوب & أول سوب»، أن استبدال النقود الورقية والعملات المعدنية بالمعاملات اللانقدية سيفسح المجال للبدائل الرقمية مثل «آبل باي» و«جوجل باي» أو «سامسونج باي». ومن المتوقع أن تتعامل جميع الشركات…