UAE to strengthen digital infrastructure in Azerbaijan

• Data centers are crucial to a country’s digital infrastructure as they provide a secure space for storing critical data and running applications. 
• Azerbaijan has taken steps towards advancing the digital economy, among else through the centralization of e-services and the digitization of public services

ADNOC to buy stake in Fertiglobe

• Fertiglobe is listed on the ADX and is the world’s largest seaborne exporter of urea and ammonia combined.
• It is also an early mover in sustainable ammonia, with production facilities in Egypt, Algeria and the UAE.

ENEC, CNNC sign MoU

• The two firms will collaborate on identifying potential development and co-investment opportunities for new international nuclear energy plants.
• They will form a Joint Working Group to leverage their strengths in project management, nuclear technology development and implementation.

Iran announces visa exemption for Saudi Arabia, 32 other countries

Saudi Foreign Minister seeks British role in Gaza truce in meeting with Cameron

• Prince Faisal also highlighted the need for creating conditions for the return of stability and the restoration of "a comprehensive and just peace" in Gaza
• They also discussed the developments in the Gaza Strip and the need to ensure that violence does not escalate so as to achieve full protection for civilians

UAE GDP set to double in 2024 from oil and non-oil boost: report

• The UAE has been actively pursuing non-oil sector expansion as part of its economic development plans
• The recent successful sovereign bond sale, which raised US$1.5 billion, has bolstered these efforts

NEOM unveils Utamo, a $500bn project to showcase world’s mega artists

• Described by NEOM as "an innovative and multipurpose event and performance space," Utamo features VIP lounges and signature restaurants
• NEOM envisions Utamo as a venue where "reality and the digital realm converge," aiming to redefine entertainment benchmarks

GCC countries follow US Federal Reserve’s lead in holding interest rates

• The Central Bank of the UAE (CBUAE) announced that it would keep the Base Rate for the Overnight Deposit Facility (ODF) steady at 5.40 percent
• Following suit, Qatar Central Bank (QCB) also maintained its current interest rates, including the rates for deposit, lending, and repurchase agreements

Andalusia Labs secures $48m funding

• Silicon Valley venture capital firm Lightspeed Venture Partners led the round with participation from Mubadala Capital
• Andalusia Labs is a collection of leading technology solutions addressing the security challenges prevalent in the blockchain industry

G42’s split from China could spur other GCC firms to follow suit

• The G42’s move follows concerns raised by US national security personnel regarding potential espionage risks from Chinese firms
• The ripple effect of G42's decision could extend to other tech companies in the Gulf Cooperation Council (GCC) region