👋 Good morning, Smashi Business Readers!

Hi there! 👋 Today’s newsletter dives into exciting updates from the tech and innovation scene. From Apple’s big plans in the UAE to bold steps toward 6G and Saudi Arabia's ambitious AI goals, there’s a lot happening in the region that’s shaping the global landscape! 👇️ 

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📸 Apple CEO Visits Abu Dhabi: UAE Gets Its 5th Apple Store!

📰 What is it about?

• Apple CEO Tim Cook visited Abu Dhabi's Qasr Al Hosn, meeting Emirati photographers Ola and Huda, who showcased iPhone 16 Pro photography. Apple also announced its fifth UAE store, Apple Al Ain, opening next year.

💡 Why it matters?

• The new store strengthens Apple's regional presence, having contributed AED 6 billion to the UAE economy in five years and created 38,000 jobs. It will also spotlight Emirati developers who earned AED 5 billion from the App Store.

🔜 What’s next?

• The store will feature Apple’s latest innovations, like the iPhone 16 and Vision Pro, solidifying the UAE's role in global tech leadership.

📈🚀 Abu Dhabi Business Week 2024 Concludes with Big Announcements and Strategic Partnerships

📰 What is it about?

• Abu Dhabi Business Week 2024 (ADBW) has concluded its inaugural edition with several major announcements and initiatives, showcasing the emirate’s growing role as a global hub for investment and innovation. The event emphasized Abu Dhabi's efforts to strengthen its economy by attracting local and international investors and fostering private sector involvement in major projects.

💡 Why it matters?

• Fostering Economic Growth: The initiatives and partnerships unveiled during ADBW are set to streamline business operations, attract international investment, and drive sustainable economic development across various sectors.

• Boosting Innovation and Tech: The launch of platforms like TIP and MZN Hub reflects Abu Dhabi's commitment to becoming a leading hub for AI, tech innovation, and digital transformation, empowering both startups and established businesses.

• Strengthening Public-Private Partnerships: The announcements reinforce the growing role of public-private partnerships, which are key to advancing Abu Dhabi’s infrastructure, sustainability goals, and the diversification of its economy.

• Enhanced Investor Experience: Through initiatives such as facilitating the investment process, improving licensing, and setting up the Golden Vendor List, Abu Dhabi is cementing itself as an attractive destination for investors worldwide.

🔜 What’s next?

• Increased Investment in Key Sectors: Abu Dhabi's push to attract investors in sectors like advanced industries, AI, and agriculture will likely continue to fuel long-term growth and innovation in the emirate.

• Private Sector Growth: The Khalifa Fund's initiatives and Hub71’s success will likely lead to more entrepreneurial ventures and startups, contributing to a diversified economy driven by innovation.

• Global Leadership in Industrial Safety: The Global Manufacturing and Industrialisation Summit's Manifestocould set new global standards for safety, positioning the UAE as a leader in industrial innovation and sustainability.

📈 Markets

🚀 UAE Paves the Way for 6G: Frequencies Allocated for the Future!

📰 What is it about?

• The UAE’s TDRA allocated the 600 MHz and 6 GHz frequency bands for International Mobile Telecommunications, preparing for 6G rollout by 2030.

💡 Why it matters?

• 6G promises terabit-level speeds, near-zero latency, and transformative applications like real-time holography and smart cities, aligning with the UAE’s "We the UAE 2031" vision.

🔜 What’s next?

• These frequencies will fuel IoT, AI, and Fourth Industrial Revolution applications, positioning the UAE as a digital pioneer.

💭Quote of the day
“The elevator to success is out of order. You’ll have to use the stairs, one step at a time.” —Joe Girard

🤖 Saudi Arabia & Elon Musk Team Up: Aiming for AI Leadership!

📰 What is it about?

• Saudi Arabia's Minister of Communications met Elon Musk to discuss AI, coinciding with plans for a $100 billion government-backed AI initiative, 'Project Transcendence'.

💡 Why it matters?

• Saudi aims to lead AI in the Middle East, mirroring the UAE's advances and drawing global attention to its transformative ambitions.

🔜 What’s next?

• 'Project Transcendence' will invest in AI infrastructure and startups, partnering with global tech players to shape the future of artificial intelligence.

🔍In other news…

1. Mubadala to have an AI member on its investment committee in 2025.

2. UAE’s non-oil economy maintained robust growth in November.

3. Make it in the Emirates: UAE ministry, LuLu launch initiative to promote local products.

4. UAE Attorney-General refers 15 defendants in tax fraud cases to criminal court.

5. Uber launches driverless operations in Abu Dhabi.

6. What will Dubai's reinstatement of 30 per cent alcohol tax mean for consumers?

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