🚀Astra Tech Makes History: First Fintech with UAE Finance License💳

Marhaba folks! 🌞
In today’s edition, we delve into Astra Tech's fintech milestone, MBC's SHAHID revenue surge, and the exciting developments at Qiddiya City as Saudi Arabia gears up for the 2034 FIFA World Cup. Yalla, let’s get into it! 🏃🏻‍♀️

Astra Tech Subsidiary Becomes First Fintech to Secure UAE Finance Company License 🏦💳

What is it about?

• Quantix LLC, a subsidiary of Astra Tech, becomes the first fintech company to receive a Finance Company License from the Central Bank of the UAE (CBUAE).

• This milestone allows Astra Tech to offer a full range of lending, credit, and microfinancing services.

• Astra Tech also includes the popular communication platform Botim under its umbrella.

Why it matters?

• Astra Tech is now the only group in the UAE holding SVF, RPSCS, and Finance Company licenses.

• This achievement positions Astra Tech as a leading player in the UAE’s fintech landscape.

What is next?

• Expect Astra Tech to expand its range of services, offering more innovative financial solutions to the UAE market.

📈 Markets

MBC's SHAHID Drives 40.8% Revenue Growth in First Half of 2024 📺💰

What is it about?

• SHAHID, MBC's streaming platform, saw a 40.8% increase in revenue in the first half of 2024.

• Significant growth was observed during Ramadan, with traditional broadcasting and regional partnerships contributing to a 20% revenue boost.

Why it matters?

• SHAHID’s revenue growth solidifies MBC’s position as a major player in the entertainment industry.

• The focus on audience engagement and stakeholder value positions MBC for continued success throughout the year.

What is next?

• MBC plans to enhance audience engagement and continue innovating to maintain its growth trajectory for the rest of 2024.

Quote of the day

“Opportunities don't happen, you create them.” 😉 – Chris Grosser

How Will Qiddiya Redefine the Visitor Experience During the Saudi World Cup 2034? 🇸🇦🎢

What is it about?

• Qiddiya City is gearing up for the 2034 FIFA World Cup with groundbreaking projects like:

  • Prince Mohammed Bin Salman Stadium: A retractable roof stadium with a capacity of 45,000.

  • Gaming & Esports District: Home to four esports venues and the world’s largest indoor LED screen.

  • Speed Park Track: A racing track designed by Alex Wurz and Hermann Tilke.

  • Dragon Ball Theme Park: A 500,000 square meter park featuring themed areas and a 70-meter-high Shenron statue.

  • Aquarabia: Saudi Arabia’s first water theme park with twenty-two rides.

  • Six Flags Qiddiya City: An adrenaline-filled amusement park.

  • Performing Arts Centre: A venue celebrating Saudi talent and Arabic storytelling.

Why it matters?

• Qiddiya’s ambitious projects aim to elevate Saudi Arabia’s global status as a premier destination for entertainment and sports.

• These developments align with Saudi Vision 2030, focusing on tourism and economic diversification.

What is next?

• As the World Cup approaches, expect further announcements about Qiddiya’s offerings, making it a central hub for visitors during the event.

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