👋 Good morning, Smashi Business Readers!

Here’s what’s making headlines today: a major currency exchange update, a high-profile visit from Bill Gates, and Moody’s revised UAE growth forecast.

Let’s dive in! 👇️ 

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📰 CBUAE Suspends Al Razouki Exchange Operations

📰 What is it about?

• The UAE Central Bank has suspended Al Razouki Exchange’s currency operations for three years and shut down two of its branches in Deira and Al Murar due to compliance violations.

💡 Why it matters?

• This move underscores the UAE’s commitment to maintaining transparency and integrity in its financial systems.

🔜 What’s next?

• The Central Bank will continue its regulatory oversight to ensure adherence to anti-money laundering and counter-terrorism financing laws.

📈 Markets

Smashi Sports Renews Sponsorship of the UAE National Basketball Team for Second Consecutive Year

Smashi Sports, a sub-brand of Smashi TV under Augustus Media, has renewed its sponsorship of the UAE National Basketball Team for a second year. The collaboration highlights Smashi's dedication to promoting regional sports as the team prepares for the FIBA Asia Cup 2025 Qualifiers in Saudi Arabia.

As the official digital partner of the UAE Basketball Federation, Smashi Sports broadcasts local league games using advanced AI-powered cameras across 15 sports clubs. With 59.8 million social impressions and over 1.46 million followers, Smashi is transforming MENA sports broadcasting, fostering community engagement, and celebrating regional athletes.

🌍 Bill Gates Visits UAE to Review AgriTech Innovations 🌾

📰 What is it about?

• Mariam Almheiri welcomed Bill Gates to review the UAE-Gates Foundation $200M partnership, showcasing cutting-edge AI-driven agricultural projects.

💡 Why it matters?

• The collaboration highlights the UAE’s leadership in addressing global food security challenges, with innovative projects aimed at supporting farmers worldwide.

🔜 What’s next?

• The UAE and Gates Foundation aim to scale these innovations globally, enhancing food security and climate resilience.

💭Quote of the day
"Your most unhappy customers are your greatest source of learning." - Bill Gates

📈 Moody’s Revises UAE Growth Forecast to 4.8%

📰 What is it about?

• Moody’s has upgraded its 2025 UAE GDP growth forecast to 4.8%, citing robust domestic demand as a key driver.

💡 Why it matters?

• The UAE is bucking the trend among emerging markets, leading growth in MENA and positioning itself as a global economic powerhouse.

🔜 What’s next?

• Continued investment in sustainable growth and economic diversification will be crucial as global challenges persist.

🔍In other news…

1. Jaguar Faces Backlash Over Rebrand Ad Lacking Focus on Cars

2. Jana Medical’s landmark IPO on the Saudi Stock Exchange’s Nomu Parallel Market has seen a remarkable 150.4% oversubscription.

3. Abdullah Alswaha, Saudi Minister of Communications and Information Technology, and Snapchat CEO Evan Spiegel celebrate the opening of Snapchat’s regional HQ in Saudi Arabia by taking a snap together.

4. "The Final Pitch" a popular business reality TV series, is expanding to the Middle East with its first edition in Dubai.

The Latest from the Smashi Business Studio

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