Hello, Smashi Business readers! 🌟

The world has its eyes set on Kazan, Russia as the 2024 BRICS Summit concludes today! Later on Wednesday, BRICS countries, which now includes the UAE as well, adopted the ‘Kazan Declaration’.

Out of the 133-points, number 65 was the most interesting: “We reiterate our commitment to enhancing financial cooperation within BRICS. We recognise the widespread benefits of faster, low cost, more efficient, transparent, safe and inclusive cross-border payment instruments built upon the principle of minimizing trade barriers and non-discriminatory access. We welcome the use of local currencies in financial transactions between BRICS countries and their trading partners. We encourage strengthening of correspondent banking networks within BRICS and enabling settlements in local currencies in line with BRICS Cross-Border Payments Initiative (BCBPI), which is voluntary and non-binding, and look forward to further discussions in this area, including in the BRICS Payment Task Force.”

Is a centralized, local-currency based payments system coming soon? We’re not sure! But BRICS’ ultimate rise to power, with a multi-polar world at the core of their endeavours, will depend on the operative word ‘non-binding’ changing to ‘binding’ when it comes to dealing only in local currencies and decreasing (read: ending) their reliance on dollar!

Today’s stories that matter:

1. 🏅 Cristiano Ronaldo Invests in Dubai-based HealthTech Startup Bioniq, Boosting Valuation to $82M 💊

2. 🚀 Qatar Airways Partners with Elon Musk’s Starlink to Bring High-Speed Wi-Fi to Entire Fleet by 2025 🛰️

3. 🚗🔋 NIO EL8 Launches in the UAE, Redefining Electric Mobility

Let's dive in! 👇

🏅 Cristiano Ronaldo Invests in Bioniq, Boosting Valuation to $82M and Expanding Global Reach 🌍

📰 What is it about?

• Soccer legend Cristiano Ronaldo has made a significant investment in Bioniq, a company specializing in personalized nutritional support based on blood biomarker data.

• Ronaldo has been a user of Bioniq’s personalized supplements for nearly three years and will now participate in brand and product innovation.

• The investment brings Bioniq's valuation to $82 million, accelerating its global expansion, especially in the U.S., Europe, and the Middle East.

💡 Why it matters?

• Ronaldo's involvement highlights the growing importance of personalized health and wellness solutions, especially for high-performance athletes and consumers.

• Bioniq’s cutting-edge platform, supported by AI-driven insights and personalized supplements, is revolutionizing how people approach health management.

• With Ronaldo as a key figure in its growth, Bioniq is positioned to expand its market and influence, leveraging his insights on performance optimization.

🔜 What’s next?

• Bioniq plans to focus on expanding in the U.S. market, where it already generates over 60% of its global sales.

• Ronaldo’s input will shape the future of Bioniq’s product offerings, ensuring they continue to meet the needs of elite athletes and health-conscious consumers alike.

• The company will continue to build partnerships with leading health institutions, using its data-driven platform to create personalized nutrition solutions for millions globally.

📈 Markets

🚀 Qatar Airways Partners with Elon Musk’s Starlink to Bring High-Speed Wi-Fi to Entire Fleet by 2025 🛰️

📰 What is it about?

• Qatar Airways has partnered with Elon Musk’s Starlink to introduce high-speed, low-latency internet across its fleet.

• The airline launched its first Boeing 777 flight equipped with Starlink Wi-Fi, setting a new standard for in-flight connectivity.

• This initiative will offer passengers free, reliable internet from gate to gate, challenging competitors who offer slower or paid services.

💡 Why it matters?

• The partnership makes Qatar Airways the first in the Middle East and North Africa region to offer Starlink Wi-Fi.

• The move signals a competitive push in the airline industry as airlines aim to enhance passenger experiences with faster and more reliable in-flight services.

• With global air passenger demand continuing to rise, the introduction of seamless connectivity is set to be a game-changer for long-haul travel and beyond.

🔜 What’s next?

• By the end of 2024, 12 Boeing 777-300s will be equipped with Starlink, with full fleet coverage expected by 2025.

• The Airbus A350 fleet will follow in the summer of 2025, ensuring high-speed Wi-Fi across Qatar Airways' long-haul aircraft.

• As more airlines, like Air New Zealand, also adopt Starlink, in-flight Wi-Fi is expected to become a standard service in the global aviation industry.

Quote of the day
“Business opportunities are like buses, there’s always another one coming.” - Sir Richard Branson.

🚗🔋 NIO EL8 Launches in the UAE, Redefining Electric Mobility

📰 What is it about?

• NIO, a premium smart electric vehicle (EV) pioneer, has launched its flagship EL8 SUV in the UAE, marking its first entry into the Middle East.

• This launch comes after the establishment of NIO MENA, a joint venture with CYVN Holdings in Abu Dhabi, aimed at expanding NIO’s presence in the region.

• The EL8 blends intelligent technology, sustainable design, and luxury, with NIO’s innovative battery-swapping tech, allowing for fast, convenient charging solutions.

💡 Why it matters?

• NIO’s entry into the UAE signals growing momentum for sustainable mobility in the region, aligning with the UAE’s push for green energy initiatives.

• The EL8’s introduction reinforces NIO’s global leadership in premium electric vehicles and introduces the Middle East market to advanced EV technologies like battery-swapping and AI-driven smart features.

• With its sustainability-driven approach, NIO aims to revolutionize the local market, offering zero-emission options to environmentally conscious consumers.

🔜 What’s next?

• NIO plans to roll out Power Swap Stations across the UAE, enhancing EV charging infrastructure.

• The EL8 will soon be joined by other models, including the EC6 (mid-size coupe SUV) and ET5 (smart electric sedan), as NIO expands its vehicle lineup in the UAE.

• Users can now experience and order the NIO EL8 at showcases in Mall of the Emirates and Yas Mall, with plans for wider regional expansion in the coming years.

In other news…

1. Participants at the blockchain event in Dubai, Cardano Summit, were praising the UAE blockchain leaders who were a part of the opening panel session.

2. Dubai-based Proptech Platform Prypco has raised $10 million from Dubai-based Shorooq Partners.

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