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South Korea’s NIPA launches Korea IT Cooperation Centre UAE at Dubai Internet City to nurture globally impactful innovation

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  • Korea IT Cooperation Centre UAE, NIPA’s first hub in the Middle East, launched on sidelines of GITEX Global to nurture connections between Korean entrepreneurs and regional innovators
  • Spanning more than 6,500 sq.ft., the centre at the region’s leading tech hub will unlock the goals of Dubai Economic Agenda ‘D33’ and the UAE-Korea CEPA deal

DUBAI, UAE, Oct. 17, 2024 /PRNewswire/ — The National IT Industry Promotion Agency (NIPA), backed by the Government of South Korea, has announced the launch of its Korea IT Cooperation Centre UAE (KICC UAE) regional office at Dubai Internet City on the sidelines of GITEX Global 2024, held at Dubai World Trade Centre on 14-18 October.

Reaffirming Dubai’s proposition as a globally vital business gateway, KICC UAE’s launch builds on the South Korean agency’s memorandum of understanding (MoU) agreed during the 2023 edition of GITEX Global with Dubai Internet City, the region’s leading technology hub. The launch in Dubai marks NIPA’s first centre in the Middle East and represents the sixth hub in its global network, which covers Silicon Valley, Singapore, India, Hanoi, and Ho Chi Minh City.

The regional office at Dubai Internet City, one of TECOM Group PJSC’s 10 sector-specific business districts in Dubai and the Knowledge Partner of GITEX Global 2024, will foster collaborative entrepreneurship and talent development initiatives by connecting Korean tech businesses and investors with regional innovators, inventors, and investors.

KICC UAE will assist Korean technology companies seeking expansion into the Middle East by establishing strategic relationships with key government entities and industry partners. The inauguration at Dubai Internet City was attended by Vice Minister Kang Do-hyun of the Korean Ministry of Science and ICT; Abdulla Belhoul, CEO of TECOM Group PJSC; and Ammar Al Malik, Executive Vice President of Commercial at TECOM Group PJSC and Managing Director of Dubai Internet City in the presence of senior officials and industry partners.

Commenting on the inauguration, Vice Minister Kang Do-hyun of the Korean Ministry of Science and ICT said: “The establishment of the first KICC centre in the Middle East, here in Dubai, UAE holds significant meaning. It stands as a concrete and impactful milestone in the digital sector, following the reaffirmation of bilateral cooperation during President Yoon Suk-yeol’s state visit to the UAE in January.”

Sung-Wook Hur, President of NIPA, said: “The launch of KICC UAE at Dubai Internet City marks a significant milestone in our commitment to fostering a thriving global innovation ecosystem. It will connect Korean entrepreneurs and enterprises with their UAE counterparts and leverage Dubai’s strategic location and thriving business environment. Our Dubai Internet City address will be a hub for innovators to collaborate on groundbreaking solutions with the potential to not only benefit the UAE and South Korea, but also make a lasting impact on the global stage.”

“Securing the global future will irrefutably require collaborative innovation given the pace of the tech industry’s evolution, and NIPA’s centre at Dubai Internet City is a window into a future shaped by such cooperation,” said Ammar Al Malik, Executive Vice President of Commercial at TECOM Group and Managing Director of Dubai Internet City. “KICC UAE underscores our district’s pivotal role as a platform for enterprises and entrepreneurs, ensuring talent development through new opportunities, partnerships, and markets. We welcome partners like KICC UAE in our endeavour to create a lasting impact through tech innovation and contribute to the global knowledge economy, as envisioned by the Dubai Economic Agenda ‘D33’.” 

Spanning 6,535 sq.ft., the facility features seven private offices, 18 co-working spaces and meeting rooms, and a dedicated showroom to host around 100 employees and visitors, with a calendar of four key events planned during 2025. Seven resident companies, including Wrtn Technologies, DeepNoid, CoreMovement, Genians, Mobiltech, Weeds Korea, and Angelswing will be established at the KICC UAE, in addition to Esol Information & Communications and PineC&I, which will use the hub’s shared office spaces.

These companies are set to begin efforts to expand into the Middle Eastern market with KICC UAE, which will provide industry data and insights to facilitate the participation of Korean technology companies and professionals in the region through Dubai Internet City’s ecosystem.

Dubai Internet City’s cooperation with KICC UAE strengthens bilateral ties between the UAE and Korea, which in May 2024 signed a Comprehensive Economic Partnership Agreement (CEPA) to nurture constructive economic cooperation between both countries, building on their non-oil bilateral trade of AED 19.4 billion in 2023. The UAE-Korea CEPA contributes to the UAE’s vision to double its non-oil foreign trade to AED 4 trillion by 2031.

Dubai Internet City has led region’s digital transformation strategy for more than two decades, serving as a platform for more than 3,500 customers, including Fortune 500s and SMEs such as Google, 3M, Microsoft, and Careem, in addition to 29,000 of the world’s brightest tech professionals.

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Dubai Internet City is part of TECOM Group’s portfolio of sector-specific business districts, which also includes Dubai Media City, Dubai Studio City, Dubai Production City, Dubai Knowledge Park, Dubai International Academic City, Dubai Science Park, Dubai Industrial City, Dubai Outsource City, and Dubai Design District (d3).

About TECOM Group PJSC 

TECOM Group has been developing strategic, sector-focused business districts across the emirate of Dubai since 1999. TECOM Group is well-positioned to continue playing an integral role in cementing Dubai’s status as a global business and talent hub. 

The TECOM Group portfolio consists of 10 business districts catering to 6 vital knowledge-based economic sectors, including design, education, manufacturing, media, science, and technology. The Group provides a varied and tailor-made leasing portfolio – which includes offices, co-working spaces, warehouses, and land – to over 11,000 customers and more than 124,000 professionals. 

TECOM Group offers additional value-added services to deliver a competitive and attractive environment for businesses and entrepreneurs to thrive in and to facilitate engagement between the districts’ community members. Government and corporate services are made available through an integrated smart services platform, “axs”, which enhances ease of doing business and provides community members with a seamless experience. 

TECOM Group also provides industry specialised facilities, including media production studios, laboratories, and higher education campuses. in5, its enabling platform for entrepreneurs and start-ups, offers innovation centres supporting tech, media, and design start-ups and SMEs. Its future-focused co-working spaces D/Quarters deliver stimulating work environments for tenants, and the “Go Freelance” package serves freelance talents.

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China’s AIMA brand electric motorbike is now in Bangladesh

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DHAKA, Bangladesh, Nov. 23, 2024 /PRNewswire/ — With the popularity of electric vehicles in Bangladesh, the globally renowned AIMA brand has also arrived in Bangladesh. The esteemed DX Group has brought the AIMA F-626 to customers. This environmentally friendly battery-operated electric motorbike has already been approved by the Bangladesh Road Transport Authority (BRTA) now. 

In light of the increasing popularity of electric motorcycles in the country, the internationally-leading brand AIMA has entered the market. By the end of 2023, AIMA electric two-wheelers had established a presence in over 50 countries worldwide, with 11 global production bases, including overseas factories in Indonesia and Vietnam. In 2022, AIMA collaborated with Rob Janoff, the designer of the Apple logo, to refresh the brand’s VI system with a youthful and fashionable image. In 2023, AIMA teamed up with PANTONE, the global authority in color expertise, to create the trending color of the year. As an industry leader, AIMA spearheads the electric two-wheeler sector and showcases the prowess of a leading electric two-wheeler brand on a global scale. As of March 31, 2024, AIMA’s total electric two-wheeler sales had reached 80 million units, earning certification from Frost & Sullivan, a globally recognized business growth consulting firm, as the “Global Leading Electric Two-wheeler Brand”.

Over the years, AIMA has always been a product trendsetter in the electric two-wheeler sector. As of March 31, 2024, the total sales volume of AIMA electric two-wheelers reached 80 million, and Frost & Sullivan, a world-renowned market consulting company, awarded AIMA with the market status certification of the “Global Leading Electric Two-wheeler Brand (by Sales)”.

AIMA adhere to the customer-centered product philosophy and technologies that support long-term innovation and breakthroughs. We believe that the efficiency and modern technology of the AIMA F-626 will present an excellent alternative means of communication for our customers.

 

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China Telecom Gulf Officially Launches in Saudi Arabia for Business

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HONG KONG, Nov. 23, 2024 /PRNewswire/ — On November 21, China Telecom Gulf was officially launched in Riyadh. This milestone marks a significant step in China Telecom’s efforts to provide deep services under the “Belt and Road Initiative” and to promote the building of a “China-Arab Community with a Shared Future.” It signifies another solid advancement on China Telecom’s path toward internationalization. Mr. Liu Guiqing, Executive Director and EVP of China Telecom Corporation, delivered an opening speech, along with Mr. Fawaz, Representative of Contact Office of Chinese Companies in the KSA, Deputy General Manager of Industrial and Commercial Bank of China Riyadh Branch. Over 100 guests and leaders from the Economic and Commercial Office of Embassy of the PRC of the KSA, Saudi Telecom Company (STC), Bank of China, Huawei, and others attended to witness this momentous occasion.

In his address, Mr. Liu Guiqing emphasized China Telecom’s commitment to openness, cooperation, and mutual benefit. He expressed the company’s willingness to share its experiences in cloud-network integration, cloud transformation, intelligent operations, and technological innovation. China Telecom aims to work closely with various levels of Saudi governments, enterprises, and partners to actively participate in the development of local digital infrastructure, drive the rapid advancement of next-generation information technologies, and establish a robust bridge for cooperation between China and Saudi Arabia in the field of information technology. Leveraging its extensive resources and global operational capabilities, China Telecom plans to bring its strengths in 5G, cloud computing, artificial intelligence, and other fields to provide innovative, high-quality communication products and services to Saudi enterprises, institutions, and consumers.

Mr. Fawaz extended his warm congratulations on the opening of China Telecom Gulf. He highlighted that as a leading global provider of communication services, China Telecom possesses abundant cloud-network resources and mature international service capabilities. The establishment of China Telecom Gulf is a significant step toward supporting the digital transformation of businesses in the region. He expressed confidence that through joint efforts, the company will seize opportunities in the digital era and contribute to Saudi Arabia’s socio-economic development and practical cooperation between China and Saudi Arabia in various fields.

China Telecom showcased its global resources, business capabilities, and its investments and partnerships in the Middle East and Africa. Key services introduced included eSurfing Cloud, computing power solutions, quantum technology, and customized 5G networks. Currently, China Telecom operates branches in 42 countries and regions worldwide, owns 53 international submarine cables, and manages 27 self-operated Internet Data Centers (IDCs). Its cloud-network integrated infrastructure and customer-centric digital service systems provide coverage across the globe.

During the event, China Telecom Gulf signed strategic cooperation agreements with Saudi Telecom Company (STC), Huawei Saudi Arabia, and Baud Telecom Company. The parties committed to deep collaboration, leveraging their respective strengths to provide optimized and convenient digital experiences to Saudi customers.

The establishment of China Telecom’s presence in Saudi Arabia marks a major milestone in the company’s entry into the Middle Eastern communications market, representing a key development in its global strategy. Moving forward, China Telecom Gulf will leverage China Telecom’s robust digital infrastructure and resource integration capabilities. We will collaborate closely with local Saudi enterprises, Chinese businesses expanding internationally, and global companies to strengthen cooperation and enhance exchanges. The company aims to contribute to the growth of Sino-Saudi and Middle Eastern industrial cooperation, continuously offering more smart solutions for the development of the Middle East’s digital economy, while striving to become a world-class provider of digital and intelligent technology services.

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Redefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore

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SINGAPORE, Nov. 23, 2024 /PRNewswire/ — The thriving IndiaSingapore partnership in banking and technology reached a new milestone as Nucleus Software celebrated 30 years of transformative innovation at Synapse 2024, held in Singapore. The event underscored the company’s role in redefining financial services across Southeast Asia (SEA) and the globe, bringing together leaders in finance and technology to explore a shared vision for the future of banking.

Synapse 2024 celebrated 30 years of Nucleus Software’s leadership in driving transformative change across Singapore and Southeast Asia’s financial ecosystem. The event also shone a spotlight on the Global Finance & Technology Network (GFTN), an initiative supported by the Monetary Authority of Singapore (MAS) to champion responsible technology adoption. The event highlighted the deepening synergies between India and Singapore, driven by their shared commitment to innovation, cross-border collaboration, and financial inclusion. As the financial services sector undergoes rapid evolution with advancements in artificial intelligence, blockchain, and digital banking, these partnerships are setting the stage for a more connected, resilient, and inclusive global ecosystem.

Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, reflected on the milestone: “For over 30 years, we’ve had the privilege of aligning our journey with Singapore’s ascent as a global financial powerhouse. Back in 1994, when we chose to go East instead of West, it was a bold and emotional decision—guided by our belief in Singapore as a hub for innovation and collaboration. We saw then what remains true today: Singapore is at the heart of the global financial landscape, a place where new ideas take root, and partnerships thrive.”

The event brought together a distinguished array of participants, highlighting the transformative potential of IndiaSingapore collaboration. Mr. Piyush Gupta, CEO of DBS Group and the Guest of Honor, set the tone for the event with his opening remarks, emphasizing the transformative role of big tech in reimagining scalable, customer-centric financial services in the digital age.

Following his address, key speakers enriched the discussions with their insights. Mr. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore and Group CEO-Designate of The Global Finance & Technology Network (GFTN), underlined the importance of fostering responsible technology adoption and building inclusive financial ecosystems. Mr. Vinod Rai, globally respected public policy expert, Distinguished Visiting Research Fellow at the National University of Singapore, and former Comptroller and Auditor General of India, shared his perspectives on governance and policy frameworks in financial systems. Mr. S.M. Acharya, Chairman of Nucleus Software and former Defence Secretary of India, offered a visionary outlook on leveraging technology to modernize and secure banking frameworks. Finally, Mr. Pieter Franken, Co-founder and Director of GFTN (Japan), a global FinTech pioneer and deep tech innovator, discussed the future of decentralized finance and its implications for the financial sector.

The event showcased the transformative role of technology in global financial systems, emphasizing innovations that set benchmarks for scalability and inclusivity. Panelists discussed the importance of localized solutions, the challenges of cross-border integration, and leveraging dual business models to optimize capital and foster public participation. The dialogue highlighted the need for common standards, unified frameworks like APIs, and collaborative efforts to accelerate financial inclusion and drive global connectivity in the digital age.

For 30 years, Nucleus Software has consistently introduced advanced lending and banking solutions that support financial institutions’ evolving needs in Singapore and South East Asia. Driven by lean development methodologies like Acceptance Test-Driven Development (ATDD) and Continuous Integration/Continuous Delivery (CICD), Nucleus Software continues to push boundaries in efficient, flexible, and secure financial technology.

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