Taiwan President Lai Ching-te has called for an economic partnership agreement with the European Union, emphasising the need for collaboration in semiconductors and shared democratic values. Speaking at a Taiwan-EU investment forum in Taipei, Lai highlighted the importance of secure supply chains and stronger ties to counter growing authoritarian threats.
The EU, under its European Chips Act, has sought to deepen cooperation with Taiwan to boost semiconductor production and reduce reliance on Asia. Taiwan Semiconductor Manufacturing Co.’s (TSMC) new chip plant in Dresden, Germany, underscores Taiwan’s role in strengthening European industry and supply chains.
While Maria Martin-Prat of the European Commission praised Taiwan as a trusted economic partner in her video address to the forum, she did not mention plans for a formal agreement. Taiwan, diplomatically isolated from most global organisations, has been pursuing trade deals with like-minded partners, recently securing an Enhanced Trade Partnership with Britain and seeking membership in the CPTPP.
The United Kingdom is sending its first trade delegation focused on AI and semiconductors to Kolkata on 18-19 November 2024. Seventeen leading British organisations specialising in technological innovation will take part in the two-day mission.
A key goal is to explore business opportunities in West Bengal and eastern India, fostering partnerships between British companies and Indian stakeholders. The initiative is aimed at bolstering collaboration in AI and semiconductor research, development, and manufacturing, addressing the growing demand in these sectors.
Andrew Fleming, the British Deputy High Commissioner to East and North-East India, expressed enthusiasm for the initiative, highlighting the potential for new partnerships. He emphasised the strengthening ties between the UK and India in the technology sphere, particularly in East and Northeast India, as key drivers for this mission.
Activities during the visit include roundtable discussions, networking events, and Business-to-Business meetings. Organised by the British Deputy High Commission in Kolkata in partnership with NASSCOM and Asterix Innovations, the engagements aim to identify opportunities for collaboration, innovation, and investment, paving the way for expanded cooperation between the UK and India.
Ethiopia’s National ID Program (NIDP) has partnered with four other government institutions to enhance access to integrated public services as part of the Digital Ethiopia 2025 initiative. The collaboration, formalised through a Memorandum of Understanding (MoU) signed on 12 November, includes the Ethiopian Artificial Intelligence Institute, the Information Network Security Administration, the Addis Ababa Civil Registration and Residency Service Agency, and the Addis Ababa Innovation and Technology Development Bureau.
Digital Ethiopia 2025 aims to transform the nation into a digital society by next year, with the national ID system serving as a crucial component. Engr. Worku Gachena, Director General of the Ethiopian Artificial Intelligence Institute, highlighted that the collaboration will simplify access to government services, particularly through the issuance of residence and national ID cards. Additionally, AI solutions are being explored to ensure efficient, secure, and high-quality service delivery.
Other officials emphasised that the partnership will advance the rollout of legal and digital ID services for Ethiopian citizens and foreign residents. Yodahe Zemichael, Executive Director of NIDP, described the initiative as a key driver of national prosperity and development. Yonas Alemayehu, Director General of the Addis Ababa Civil Registration and Residency Service Agency, pointed out that digital ID plays a foundational role in the ongoing smart city project, with efforts ramping up for digital ID enrolment across Addis Ababa.
The Fayda digital ID system is increasingly being integrated into various government operations, including public procurement. Looking ahead, Ethiopia plans to launch a new digital government program extending to 2030, with Fayda ID as a central element.
Europe’s largest tech company, ASML, projected an annual sales growth of 8% to 14% over the next five years, driven by strong demand for its advanced chip-making tools amid a global boom in AI. ASML’s CEO Christophe Fouquet highlighted the company’s advanced EUV technology as pivotal in meeting the growing AI demand, positioning the firm well for continued profitability.
Ahead of its investor day in the Netherlands, ASML forecasted revenue between €44 billion and €60 billion by 2030, with stable gross margins between 56% and 60%, reassuring analysts who had been concerned by recent earnings shortfalls. The company’s shares rose by 2.6% in early trading, buoyed by its steady outlook on AI-driven growth despite weaker demand in other chip segments.
ASML faces challenges in China, where US and Dutch export restrictions prevent it from selling its most advanced EUV and certain DUV tools. However, ASML continues to supply older DUV models to Chinese buyers, even as China’s share of ASML’s total sales has dropped significantly.
Indonesia‘s top telecom company, Indosat Ooredoo Hutchison, and tech giant GoTo Gojek Tokopedia launched Sahabat-AI, a new large language model ecosystem designed to support AI-based services in Indonesian languages. This initiative aims to empower local developers to create applications that reflect Indonesia’s diverse languages and cultural nuances.
The Sahabat-AI project is supported by AI Singapore and India’s Tech Mahindra, using Nvidia’s AI Enterprise software and the Nvidia NeMo platform for robust language processing capabilities. Contributions from universities and media groups will further tailor the model to Indonesia’s unique context.
In its initial phase, Sahabat-AI will offer 8-billion and 9-billion parameter models, highlighting Indonesia’s growing AI sector, which has already drawn significant investment interest, including a recent data centre pledge from Microsoft.
Swisscom has moved a step closer to finalising its €8 billion acquisition of Vodafone Italia after receiving approval from Italy’s communications regulator, AGCOM. The deal, announced in March, aims to merge Vodafone Italia with Swisscom’s Fastweb subsidiary, potentially granting Swisscom a 30% share of Italy’s fixed broadband market. However, the transaction still faces scrutiny from Italy‘s antitrust authority, AGCM, which is conducting a detailed review to assess its impact on competition.
AGCM has expressed concerns that the merger could reduce competition in Italy’s already concentrated broadband market, potentially disadvantaging residential customers. In response, Swisscom has proposed several concessions, including access to Fastweb’s fiber network for competitors and protections for existing wholesale contracts.
Competitors were invited to provide feedback on these concessions by early November, and the AGCM is expected to conclude its review by mid-December. If approved, Swisscom aims to complete the acquisition by early 2025.
Kuwait KEMS-Zajil Telecom and Emirates MBCOM Technologies have partnered to strengthen digital infrastructure and cybersecurity across the Middle East, aiming to help businesses remain secure and agile in a connected, fast-evolving world. This partnership formalised through a Memorandum of Understanding (MoU) on 16 October 2024, focuses on providing enterprise solutions in critical areas like network optimisation, cloud services, and cybersecurity.
By merging their expertise, the companies intend to deliver advanced solutions that optimise network performance and bolster defences against cyber threats, essential capabilities for supporting business growth and resilience. Moreover, both companies see this partnership as a strategic move to drive digital transformation in the region, effectively meeting the rising demand for secure, efficient, and scalable digital services.
Furthermore, KEMS-Zajil Telecom emphasised that collaborating with MBCOM Technologies allows them to expand their digital services portfolio with cutting-edge solutions that enhance growth and security. Similarly, MBCOM Technologies highlighted how this partnership positions both companies to bring innovative technology to regional businesses. Ultimately, with its dual focus on advanced infrastructure and robust security, this collaboration reflects a shared vision to empower Middle Eastern enterprises through comprehensive digital solutions that drive long-term growth and resilience.
Khazna, BEEAH, and the Sharjah Communication Technology Authority (SCTA) are partnering to enhance Sharjah’s digital infrastructure by developing advanced data centres. Building on a joint venture formed in 2022 between BEEAH and Khazna, SCTA is joining the effort to create Sharjah’s largest data centre, featuring a 9MW capacity, with the first phase focusing on Kalba.
That project aims to provide the necessary infrastructure to support digital transformation in Sharjah, driving innovation and enabling emerging technologies like AI and blockchain. As a result, the collaboration will advance telecommunications solutions and significantly contribute to the emirate’s broader digital growth.
In addition to fostering technological advancements, the partnership also emphasises sustainability. The project will explore eco-friendly energy solutions, such as waste-to-energy power generation, and incorporate greywater recycling systems to minimise water usage.
Moreover, energy-efficient technologies will be integrated to reduce the environmental footprint. Consequently, it will foster economic growth and technological leadership in the UAE.
The Indian Ministry of Mines and the International Energy Agency (IEA) have signed a memorandum of understanding (MoU) to enhance India’s critical mineral sector. Through this collaboration, India will gain access to reliable data, analysis, and policy recommendations, improving decision-making and resource management.
Furthermore, the MoU aims to align India’s policies, regulations, and investment strategies with global best practices, accelerating the country’s transition to sustainable and resilient energy systems. In addition, the partnership will focus on capacity development and knowledge exchange through joint research projects, workshops, and training programs, which will enhance India’s technical and institutional capabilities in critical mineral management.
By learning from the experiences of other IEA member states, India seeks to foster innovation in technology development, extraction techniques, and recycling methods, ultimately boosting its competitiveness in the global market. Approved by the Union Cabinet in October 2024, this collaboration marks a significant milestone in securing India’s critical mineral resources.
As a result, the MoU underscores India’s commitment to adopting advanced global practices while addressing its domestic energy needs. Consequently, it sets the stage for long-term strategic growth in the critical minerals sector, promoting sustainability, innovation, and energy security across the nation.
Visa has announced a partnership with fintech Affirm to introduce a new feature allowing United States customers to use a single card for both debit transactions and buy now, pay later (BNPL) purchases. The feature aims to meet growing consumer demand for payment flexibility. Visa will also launch the service in the United Arab Emirates in collaboration with Liv Bank and plans to expand to Europe in the coming months.
Mark Nelsen, Visa‘s global head of consumer products, highlighted that customers increasingly prioritise convenience in payments, especially as e-commerce continues to thrive. A Visa study revealed that 51% of card users desire access to multiple accounts and funding options through a single credential, streamlining their payment experiences. The ‘Flexible Credential’ feature is already available in markets such as Hong Kong, Japan, and Singapore, with further expansion planned over the next year.
Visa and Affirm’s collaboration signals a growing trend of traditional financial institutions working with fintech firms to drive innovation. While fintech companies have often been seen as challengers to established banks, such partnerships can benefit both sides by unlocking new revenue opportunities. Affirm CEO Max Levchin emphasised the company’s commitment to providing a seamless product that integrates debit and credit without hidden fees.
