Latest news with #technologyhub
Zawya
04-08-2025
- Business
- Zawya
MENA IT spending to hit $169bln in 2026
Global research and advisory firm Gartner has forecast that IT spending in the Middle East and North Africa (MENA) region will reach US$169 billion in 2026, marking an 8.9 percent increase over 2025. Mim Burt, Practice Vice President at Gartner, said the MENA region is rapidly emerging as a global technology hub, as GCC countries leverage their advanced infrastructure and forward-looking policies to attract global partners and build digital capabilities that fuel innovation and support resilient, AI-enabled economies. Despite global economic and geopolitical uncertainty, CIOs in the region are making strategic investments in artificial intelligence, intelligent automation, multi-cloud strategies, enhanced cybersecurity, and workforce upskilling. Gartner predicts that spending on data centre systems in the MENA region will increase by 37.3 percent in 2026, making it the fastest-growing IT segment. However, growth will be slower this year as the market transitions from rapid expansion to gradual and sustainable investment. Eyad Tachwali, Vice President of Advisory at Gartner, said spending on data centre systems is expected to rise in parallel with increased investments by CISOs in the region in AI-powered software and updated AI infrastructure. This growth is primarily driven by the rising demand for generative AI and advanced machine learning, both of which rely heavily on robust computing capabilities for large-scale data processing. He added that the bulk of this demand will come from governments, major cloud service providers, technology vendors, and institutions focused on developing and deploying AI models, rather than from traditional enterprises or consumers. According to Gartner, software spending in MENA is projected to rise by 13.9 percent to US$20.4 billion in 2026, driven by the accelerating adoption of generative AI capabilities across organisations. Gartner expects that by 2028, 75 percent of global software spending will be directed toward solutions featuring generative AI capabilities.
Malay Mail
02-08-2025
- Business
- Malay Mail
Chow Kon Yeow: Penang's RM296m ‘GBS By The Sea' hub fully occupied by global tech firms
GEORGE TOWN, Aug 2 — Penang continued to cement its status as a global business and technology hub with the official launch of 'GBS By The Sea', a landmark RM296 million development located in Technoplex Bayan Lepas. Penang Chief Minister Chow Kon Yeow hailed the project as a bold statement and a clear example of Penang's transition into a knowledge-based, innovation-driven economy. He said GBS By The Sea is the fourth project under the global business services (GBS) initiative, spanning 290,000 square feet (sq ft) of space. 'The GBS By The Sea facility is already fully occupied, with three global industry leaders, namely Advanced Micro Devices Global Services (AMD), Celestica Platform and Cloud Solutions Malaysia and the Microsoft Knowledge Capital Centre. 'These global companies are not only investing in Penang, but they are also creating over 1,000 quality jobs for our local talent in areas like research and development (R&D), engineering, digital services and more. These are the kind of high-value, future-ready jobs that we want for Penangites,' he said during the GBS By The Sea launching ceremony in Bayan Lepas today. Also present at the ceremony were State Infrastructure, Transport and Digital Committee chairman Zairil Khir Johari, Majlis Bandaraya Pulau Pinang (MBPP) Mayor Datuk A Rajendran and Penang Development Corporation (PDC) chief executive officer Datuk Aziz Bakar. Chow elaborated that the facility is not just a workplace but also equipped with a gym, cafeteria and a six-storey car park with 800 bays. He emphasised that GBS would play a vital role in Penang's next chapter, moving from being a manufacturing hub to becoming a knowledge-based and tech-forward economy. 'Projects like GBS By The Sea help us make that transition not just in words, but in real ways that matter to businesses and workers. 'With the announcement of 13th Malaysia Plan (13MP), which puts a strong focus on the transition to 'Made by Malaysia' and aims for higher growth and higher value creation, GBS By The Sea fits perfectly into this big picture — it's local, it's future-focused, and it brings value,' he said. Chow also announced that PDC is already working on its fifth GBS project, namely 'GBS at Technoplex', a RM500 million development offering over 400,000 sqft of space. He said that even though construction has not been completed, 16 per cent of the building has already been pre-booked by tenants, reflecting strong demand and high confidence in Penang's potential. — Bernama
South China Morning Post
18-07-2025
- Business
- South China Morning Post
HKU innovation hub must move forward, but community engagement is vital
Integration with the local community should be a priority for universities. Everyone benefits from the connections which enrich student experiences and foster innovation, so it has been disappointing to see growing tension between residents of Pok Fu Lam and the University of Hong Kong (HKU) over a planned innovation centre. The Global Innovation Centre will provide space for teaching, conferences, offices, staff quarters, catering and support facilities, and even landscaped areas open to the public. It is envisioned as a world-class, deep-technology research facility that will focus on the interdisciplinary, blue-sky investigations giving rise to innovative solutions to global challenges. HKU says the facilities are needed to attract talent the city needs to evolve into an international innovation and technology hub as envisioned in the national five-year plan. The sticking point has been over the centre's proposed location at a government-owned green belt along Pok Fu Lam Road. Residents have pushed back over concerns about traffic, environmental impact and a lack of consultation. The university has responded by downsizing initial plans announced last year to preserve more than 75 per cent of the green belt and shifting to a smaller nearby residential plot. Some residents say the centre should instead be built on nearby Mount Davis or land set aside for the uncompleted Northern Metropolis. University planners said Pok Fu Lam is a faster and cheaper option. It is also near HKU's main campus, Queen Mary Hospital and Cyberport – proximity that is needed to draw innovators. HKU said it held four meetings with district councillors and lawmakers and another three each with a residents' group and representatives from a nearby home for the visually impaired. Two groups representing residents said HKU only spoke with them for three hours and did not seriously consider alternative sites. The project is important and should not be delayed. Reasonable balance between the concerns of residents and planners must be found. It will require proper communication and dialogue, as well as neighbours being open and understanding about the project.
South China Morning Post
08-07-2025
- Business
- South China Morning Post
Hong Kong's international financial centre role gives it an edge in AI market, experts say
Advertisement 'For AI companies, having easy access to capital is extremely important,' SenseTime chief financial officer Wang Zheng said in a panel discussion at the South China Morning Post's China Conference 2025 on Tuesday. 'Hong Kong has a really deep, world-class capital market .' Founded in Hong Kong in 2014, SenseTime was able to raise 'a lot of private capital' in the city to support its growth before eventually going public on the Hong Kong stock exchange , according to Wang. 'Hong Kong is really fantastic in playing the role of a capital connector,' Wang said. 'I think this is the one area that Shenzhen and Singapore would be very hard-pressed to surpass in the foreseeable future.' That reflects efforts by Hong Kong's government to reposition the city as a regional technology hub by 2035, while bolstering its role as a bridge between mainland China and the rest of the world. Advertisement
South China Morning Post
14-06-2025
- Business
- South China Morning Post
Hong Kong plans new AI supercomputing centre to boost tech hub status
The Hong Kong government is set to enhance its computing power support for start-ups as part of its ambition to become a leading technology hub, according to the city's innovation chief, as local start-ups seek global clients at one of Europe's largest technology shows. Hong Kong planned to establish a new supercomputing centre at Sandy Ridge in the Northern Metropolis – part of a government blueprint that aims to transform a large swathe of land in the New Territories into an economic hub, according to Secretary of Innovation, Technology and Industry Sun Dong. Speaking to the Post on the sidelines of the VivaTech conference in Paris on Friday, Sun said the centre would provide computing power for Hong Kong and other parts of the Greater Bay Area, as well as surrounding regions. Hong Kong's first Artificial Intelligence Supercomputing Centre, launched in Cyberport in December, is expected to deliver 3,000 petaflops of computing power by the end of this year. The China Pavilion at the VivaTech fair in the Paris. Photo: AFP The expansion of artificial intelligence (AI) computing facilities comes as the city seeks to reposition itself as an international innovation and technology hub while navigating increasing US restrictions on access to advanced chips.
