Marhaba folks! 🌟

Today we will discuss,

• 🇦🇪🤝🇯🇵 UAE and Japan Begin Talks on Comprehensive Trade Deal to Boost Economic Growth 🚀💼

• 💸 Botim Revolutionizes Remittances with 'Send Now, Pay Later' (SNPL) Service 🚀💳

• 🤖 Sharjah Launches World’s First AI-Powered Trade Licence 🚀📈

Let’s dive in!

🇦🇪🤝🇯🇵 UAE and Japan Begin Talks on Comprehensive Trade Deal to Boost Economic Growth 🚀💼

📰 What is it about?

• UAE and Japan have announced the start of talks for a Comprehensive Economic Partnership Agreement (Cepa)to strengthen trade and economic ties.

• The deal aims to support sustainable economic growth and further enhance bilateral relations.

• It builds on existing trade, with non-oil trade between the two countries reaching $8.1 billion in H1 2024.

💡 Why it matters?

• Japan is the UAE’s top trading partner in the Arab world, and a Cepa will reduce tariffs, making trade more efficient and stimulating investment opportunities.

• The agreement could support key sectors like advanced technology, manufacturing, and sustainability, aligning with both countries' economic goals.

• Japan’s GDP growth projections and the UAE’s ambitions to expand its foreign trade network make this partnership crucial for mutual economic progress.

🔜 What’s next?

• As negotiations unfold, the Cepa is expected to remove trade barriers, improve market access, and foster new business collaborations.

• This is part of the UAE’s broader strategy to sign 26 Cepas, boosting its non-oil economy and hitting its foreign trade target of AED 4 trillion by 2031.

📈 Markets

💸 Botim Revolutionizes Remittances with 'Send Now, Pay Later' (SNPL) Service 🚀💳

📰 What is it about?

• Astra Tech has launched the first-ever 'Send Now, Pay Later' (SNPL) service in the MENA region through its Botim Ultra App.

• The SNPL service allows users to send money internationally instantly while deferring payment to a later date.

• This positions Botim as a leader in the UAE’s remittance market, supporting a multi-billion-dirham industry.

💡 Why it matters?

• SNPL offers financial flexibility to the UAE’s large expatriate workforce, who can now send remittances without the burden of upfront payments.

• It addresses a critical need for workers to manage financial obligations and support families abroad, especially during tight financial periods like month-end.

• This move strengthens Astra Tech’s growing fintech ecosystem, aiming to capture a larger share of the UAE’s remittance market.

🔜 What’s next?

• Botim will roll out pre-registration for its 9 million users, giving early adopters access to the SNPL service.

• With remittances from the UAE reaching Dh6.74 trillion in 2023, the service is set to streamline transfers to countries like India, Egypt, and Pakistan, easing financial pressures.

• Astra Tech will continue to expand financial inclusion through services like SNPL and Buy Now, Pay Later (BNPL).

Quote of the day
“Do the best that you can until you know better, then when you know better, do better.” - Maya Angelou

🤖 Sharjah Launches World’s First AI-Powered Trade Licence 🚀📈

📰 What is it about?

• Sharjah has unveiled the world’s first trade licence issued entirely through artificial intelligence (AI) at the Sharjah Investment Forum (SIF 2024).

• The innovative service allows entrepreneurs and investors to complete the licensing process in less than five minutes.

• Initially available at the Sharjah Investor Services Center (Saeed) and SPC Free Zone, it will soon be extended to other free zones across Sharjah.

💡 Why it matters?

• This milestone establishes Invest in Sharjah as the first investment promotion agency globally to use AI for trade licences, enhancing the emirate's investment attractiveness.

• It streamlines the business setup process, significantly reducing time and administrative hurdles, which boosts efficiency and innovation.

• The initiative reinforces Sharjah’s position as a leading global destination for innovative and sustainable investments, contributing to its goal of becoming a key hub for future-focused business practices.

🔜 What’s next?

• Sharjah’s new AI-driven licensing system will soon be rolled out across additional free zones, further broadening its impact.

• The move is expected to accelerate business establishment, enhance the business environment, and strengthen Sharjah’s status in foreign direct investment (FDI) and startup ecosystems.

• The initiative aligns with Sharjah’s vision to develop a diversified economy and support sustainable growth, positioning the emirate as a leader in technology integration across sectors like agriculture, healthcare, and logistics.

In other news…

1. Stonepeak, with $71 billion in AUM, moves to Abu Dhabi.

2. MENA markets gain after US Fed’s interest rate cut boosts global sentiment.

3. Egypt bans popular betting app 1XBet amid growing concerns.

4. Egyptian Influencer faces backlash over high prices, designs of new eyewear collection.

5. Saudi businesswoman invests $250,000 in Egyptian Edtech Startup Farid.

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