Happy Tuesday!☀️

The AI app DeepSeek has skyrocketed to the top of the UAE App Store, challenging US tech dominance with groundbreaking innovation 🤖. Meanwhile, Americana Group is spicing up its regional presence by acquiring Pizza Hut’s business in Oman 🍕. In Ras Al Khaimah, RAKEZ has reported a record-breaking 13.1k new company registrations in 2024, fueling the UAE’s economic momentum 📈. These developments underscore the region’s dynamism, with tech, business, and F&B industries leading the charge 🚀

Stay updated as we track these major shifts shaping the region and beyond!🌍✨

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🤖✨ AI App DeepSeek Tops UAE App Store, Challenging US Tech Dominance 🚀📱

📰 What is it about?

• Chinese startup DeepSeek has taken the top spot on the UAE's Apple App Store, with its AI assistant, R1, surpassing popular American offerings like OpenAI’s ChatGPT. The app’s rapid rise is sparking discussions about America’s hold on artificial intelligence in the Middle East. Launched on January 20, 2024, by Liang Wenfeng, a Chinese quant hedge fund manager, DeepSeek’s R1 has quickly gained attention for reportedly matching or even exceeding the capabilities of AI models developed by OpenAI, Google, and Meta.

💡 Why it matters?

• Regional Shift in AI Dominance: DeepSeek's R1 overtaking American AI models like ChatGPT on the UAE's Apple App Store indicates a shift in AI adoption patterns in the Middle East.

• Competition and Innovation: The emergence of DeepSeek highlights increasing global competition in the AI sector

• Geopolitical Implications: China's influence in the Middle East has been growing, and the success of R1 underscores its expanding technological footprint in the region.

🔜 What’s next?

• Increased Market Presence: DeepSeek and other Chinese AI companies might double down on their efforts to penetrate the Middle Eastern market, possibly offering more region-specific features to cater to local preferences.

• Enhanced Capabilities: American companies may focus on demonstrating superior technical capabilities, reliability, and ethical standards to regain dominance.

• Data Sovereignty Agreements: Governments may push for agreements with AI providers on where and how user data is stored and processed, especially with concerns over privacy and foreign influence.

Markets

🍕🌍 Americana Group Acquires Pizza Hut Business in Oman, Expanding Regional Footprint 📈🏢

📰 What is it about?

• Muscat, Oman: Americana Restaurants, chaired by Mohamed Alabbar and the largest food service operator in the MENA region, has acquired the Pizza Hut business in Oman from the Khimji Ramdas Group. The acquisition includes 46 outlets, which collectively generated approximately $11 million in annual revenue for 2024.

💡 Why it matters?

• This deal bolsters Americana’s dominance in the regional market, bringing its total Pizza Hut locations across multiple territories to around 450. Americana’s history in Oman dates back to 1986, with the introduction of KFC and Hardee’s, further cementing its legacy as a key player in the country’s food service industry.

• The move comes amid a challenging year for Americana, which reported a 54% drop in third-quarter profits to $37.4 million in 2024. Despite this, the company has continued to expand its operations, driven by its strategic focus on growth in the MENA region.

🔜 What’s next?

• Align Systems: Americana Restaurants will likely integrate Pizza Hut Oman into its existing operational structure, including supply chain, logistics, and marketing.

• Expansion Plans: Americana might plan to expand the Pizza Hut footprint in Oman by opening new outlets in underserved regions or high-growth areas.

💭Quote of the day:

“The secret of business is to know something that nobody else knows.” -Aristotle, Greek philosopher

Rakez (Ras Al Khaimah Economic Zone) saw 13.1k New Companies Register in 2024

📰 What is it about?

• Saudi Arabia aims to diversify and expand its energy exports, including oil, gas, electricity, solar, water, and nuclear energy, according to Minister of State for Foreign Affairs and Climate Envoy Adel Al-Jubeir. Speaking at a dialogue session hosted by the Saudi House at the World Economic Forum in Davos, Al-Jubeir highlighted the Kingdom's ambition to harness its uranium reserves, estimated at 1-4% of global reserves, for energy production.

💡 Why it matters?

• To benefit fully from the industries, jobs, and profits associated with these resources.

• Saudi Arabia, one of the world’s largest energy producers, is striving to lead in the global energy market by exporting various energy products while ensuring value addition through local industries.

• Al-Jubeir’s remarks underscore Saudi Arabia's commitment to leveraging its energy sector to drive economic growth and establish itself as a major player in the global transition to sustainable and diverse energy sources.

🔜 What’s next?

• Increased Government and Private Sector Collaboration 🤝

• Expansion in Energy field

• Developing the nuclear program to generate energy and transform uranium into high-value fuel.

🔍In other news…

1. Foreign investors can now invest in Saudi-listed companies owning real estate in the holy cities of Makkah and Madinah, following a landmark decision by the Saudi Capital Market Authority (CMA).

2. Saudi Arabia is in discussions to host a state-of-the-art mixed martial arts (MMA) facility at Qiddiya, the kingdom's $9.8 billion sports and entertainment giga-project.

The Latest from the Smashi Business Studio

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👋 Hello, That’s Me - Your Content Buddy

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Here’s to a productive week ahead! 💪

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