e& and ZTE have forged a significant strategic collaboration by signing a Memorandum of Understanding (MOU) to foster innovation in the telecommunications sector amid current geopolitical challenges affecting technology adoption. The partnership is centred on developing energy-efficient and sustainable solutions for network infrastructure, addressing the growing global emphasis on environmental responsibility.
Additionally, they will design and develop advanced 5G and 5G-Advanced (5G-A) solutions while exploring innovative use cases for private networks to enhance connectivity and operational efficiency. Through shared insights and knowledge exchange, both organisations will promote leadership and collaborative learning, positioning themselves as responsible leaders in the industry while striving for net-zero emissions and inspiring further innovation.
Why does it matter?
The partnership emphasises the importance of creating opportunities for joint initiatives that enhance capabilities. By fostering a shared learning environment, both organisations can learn from each other’s successes and challenges, allowing for effective navigation of the rapidly evolving telecommunications landscape. Their joint efforts aim to bolster technological development and pave the way for a more connected and sustainable future.
The Indonesia Investment Authority (INA) and Singapore-based Granite Asia announced a joint plan to invest up to $1.2 billion in Indonesia’s technology sector and related businesses. According to a joint statement, the initiative will involve both equity and hybrid capital, though specific financial contributions from each firm and the timeline for investments remain undisclosed. Targeted companies were also not named.
INA, Indonesia‘s sovereign wealth fund, was established in 2020 to attract both domestic and international investors to the country. Last week, the fund announced that its toll road platform, with backing from Dutch pension fund APG and the Abu Dhabi Investment Authority, is funding parts of Indonesia’s Trans Sumatra Toll Road.
Granite Asia, formerly part of GGV Capital, currently manages assets totalling $5 billion. The collaboration is expected to support the growth of Indonesia’s tech landscape and strengthen economic ties within Southeast Asia.
Nvidia CEO Jensen Huang has urged South Korea’s SK Hynix to speed up the delivery of its next-generation HBM4 memory chips by six months, according to SK Group Chairman Chey Tae-won. Initially scheduled for the latter half of 2025, the HBM4 chips are in high demand as Nvidia’s GPUs require them for advancing AI technology. Nvidia, which holds a dominant share of the AI chip market, relies on SK Hynix’s high-bandwidth memory to support AI processing.
Facing growing competition from Samsung and Micron, SK Hynix is working to deliver its latest HBM3E chips this year, with plans to release improved 16-layer versions early next year. Samsung has also announced progress on a new supply deal and aims to roll out its HBM4 products by the second half of 2024.
Shares of SK Hynix surged 5.1% on the news, reflecting strong investor confidence in its strategic response to the booming demand for advanced memory technology.
United States energy regulators have rejected an amended plan for an Amazon data centre to be powered directly from Talen Energy’s Susquehanna nuclear plant in Pennsylvania. The Federal Energy Regulatory Commission (FERC) cited potential risks to both consumer costs and grid reliability, concluding that diverting power from the regional grid to Amazon’s facility could raise public energy bills and create supply challenges.
The proposal came as Big Tech companies like Amazon seek rapid ways to meet growing energy demands for data centres, particularly those needed to expand AI technologies. Co-locating data centres with power plants has emerged as an appealing solution, yet FERC Commissioner Mark Christie warned that this arrangement could bring complex repercussions, including significant impacts on reliability and costs.
FERC Chairman Willie Phillips, however, dissented, arguing that blocking the project could hinder US leadership in AI and harm national security. The decision leaves questions about funding and infrastructure upgrades necessary to ensure reliable supply to such high-demand centres.
Disney is establishing a new division, the Office of Technology Enablement, dedicated to advancing the company’s use of AI and mixed reality (XR). Led by Jamie Voris, Disney’s former chief technology officer for its film studio, the unit will oversee projects across Disney’s film, television, and theme park segments to leverage these rapidly evolving technologies. This group will focus on coordinating various initiatives without centralising them, ensuring each project aligns with Disney’s broader technological strategy.
The new office, which will ultimately expand to about 100 employees, comes as Disney looks to tap into cutting-edge AI and augmented reality (AR) applications. Disney Entertainment Co-Chairman Alan Bergman emphasised the importance of exploring AI’s potential while mitigating risks, signaling Disney’s intention to create next-generation experiences for theme parks and home entertainment. Voris’s leadership will be succeeded by Eddie Drake as Disney’s new film studio CTO.
Disney has been actively building expertise in AR and virtual reality (VR) as technology companies like Meta and Apple compete in the emerging AR/VR market. The company also rehired Kyle Laughlin, a specialist in these technologies, as Senior VP of Research and Development for Disney Imagineering, its theme park innovation branch. By assembling a team with expertise in advanced tech, Disney aims to create immersive, engaging experiences for its global audience.
Dubai Chambers and Dubai Multi Commodities Centre (DMCC) have joined forces in a groundbreaking Memorandum of Understanding (MoU) to enhance Dubai’s status as a global hub for digital investments. The strategic collaboration focuses on attracting companies that specialise in AI, cryptocurrencies, and gaming, recognising their importance in shaping the future of the digital economy.
As part of the MoU, DMCC will provide specialised business setup support packages to facilitate the entry of new enterprises and ensure they have the necessary tools to thrive. Companies will also gain access to valuable resources, including participation in DMCC’s knowledge series events and complimentary compliance services and tax clinics.
That partnership aligns with the Dubai Economic Agenda (D33), which seeks to double the size of Dubai’s economy over the next decade and position the emirate among the top three global cities for business and innovation. Dubai Chambers and DMCC are united in their commitment to driving economic growth and innovation within the emirate through their collaboration.
They recognise the importance of creating a favourable business environment to support international companies and investments. By enhancing the growth of the digital economy and fostering a climate of institutional excellence, their efforts aim to provide a robust ecosystem that not only attracts innovative firms but also encourages the development of future-facing sectors.
Abu Dhabi firms Realize and Neovision Wealth Management have announced the launch of the Realize T-BILLS Fund, a new investment vehicle focused on U.S. Treasury ETFs. The fund will purchase units from popular ETFs, such as BlackRock’s iShares and State Street’s SPDR, and tokenise them, converting them into blockchain-based digital tokens that can be traded and transferred. Dominik Schiener, co-founder of Realize, noted that the fund aims to grow to $200 million in assets.
The T-BILLS Fund will issue a digital token, $RBILL, representing fund units, and operate on both the IOTA and Ethereum blockchain networks. Realize will handle the tokenisation process, while Neovision Wealth Management will oversee fund operations. This fund is also the first of its kind to be based out of the Abu Dhabi Global Market, a move that highlights the growing trend of combining traditional assets with blockchain technology.
Tokenised US Treasuries have become a growing niche in the digital asset market, valued at $2.4B, and attracting both blockchain-native firms and established finance giants. With US Treasury bills seen as a secure and liquid asset class, these new tokens offer investors an easier way to trade and hold government-backed securities in a blockchain format, making them accessible to a wider audience in the digital economy.
The United Nations Development Programme (UNDP) Bahrain and the Bahrain Center for Strategic, International, and Energy Studies (Derasat) have embarked on a significant partnership to develop the National Human Development Report (NHDR), titled ‘Digital Transformation: A Roadmap for Progress.’ That collaboration aims to harness digital transformation as a strategic tool for fostering inclusive growth in the Kingdom, aligning with Bahrain Vision 2030 and the Sustainable Development Goals (SDGs).
In this context, the NHDR will comprehensively analyse how digital transformation can enhance human development outcomes in Bahrain, addressing critical issues such as the digital divide, privacy concerns, cybersecurity, and integrating digital technologies into public services. Furthermore, the report will benchmark Bahrain’s digital landscape against regional and international standards, offering actionable insights and recommendations to improve digital inclusion, protect privacy, and secure digital infrastructures.
Moreover, the UNDP Bahrain and Derasat highlight the importance of stakeholder engagement in developing the NHDR. By collaborating with government entities, civil society organisations, and the private sector, diverse perspectives will be included to ensure alignment with Bahrain’s national development goals.
Meta Platforms has signed an agreement to purchase the full output of a new solar power plant from French utility giant Engie. The Sypert solar plant, expected to generate 260 megawatts of clean energy, is scheduled to go live in late 2025. This partnership aligns with Meta’s ongoing commitment to meet the energy demands of its expanding data centre operations with sustainable power sources.
The Sypert plant will add to Engie’s growing renewable energy portfolio, which currently includes about 8 gigawatts of solar, wind, and battery storage projects across North America. Earlier this month, Engie also secured a solar power agreement with Google for its largest US solar project, reinforcing the company’s role as a major clean energy supplier for tech firms.
Driven by technologies like AI, the demand for data centre power in the US is predicted to triple by 2030, according to Goldman Sachs. The Biden administration has called on tech companies to invest in green energy to support this growth, and partnerships like Meta and Engie’s reflect this broader push toward a more sustainable digital economy.
Foxconn subsidiary Shunsin has submitted a request for an $80 million investment permit to establish an integrated circuit manufacturing plant in Bac Giang province, northern Vietnam. This development is detailed in a document from Vietnam’s environment ministry and represents a significant expansion of Foxconn’s operations in the region. The proposed facility aims to produce and process electronic components, particularly integrated circuit boards and is expected to commence full-scale operations by December 2026, with an annual production capacity of 4.5 million units.
This move aligns with Foxconn’s ongoing strategy to diversify its manufacturing base outside of China, especially in Southeast Asia, where it has already made substantial investments. The products manufactured at the new Shunsin plant will be designated for export, targeting major markets including the US, EU, and Japan. This export focus underscores Foxconn’s commitment to meeting the growing global demand for advanced electronic components.
Foxconn, officially known as Hon Hai Precision Industry, is recognised as the world’s largest contract electronics manufacturer. Since entering Vietnam in the early 2000s, the company has invested over $3.2 billion in various operations across the country. Its manufacturing footprint is primarily concentrated in northern provinces like Bac Ninh and Bac Giang, which have become key hubs for electronics production. In July, Foxconn also received a license to invest $383 million in a factory dedicated to printed circuit boards, further enhancing its capabilities in the region.
