Latest news with #WebSummitQatar2025
Express Tribune
4 days ago
- Business
- Express Tribune
C/A slips back into $103m deficit
Listen to article Pakistan recorded a current account deficit of $103 million in May 2025, narrowing from a deficit of $235 million in the same month last year but reversing the $47 million surplus seen in April 2025. Although Pakistan posted a rare current account surplus of $1.8 billion during the first eleven months of FY25 — marking a significant turnaround from the $1.6 billion deficit recorded in the same period last yearexperts caution that underlying external sector vulnerabilities remain a cause for concern. "The trade deficit expanded in May 2025, increasing to $3.2 billion compared to $2.2 billion in the same period last year," wrote AHL. The overall trade balance posted a deficit of $27 billion in 11MFY25, up from $23 billion during the same period last year. "We expect the country to post a current account surplus of $1.6 billion in FY25 after 14 years," said the brokerage house. "This growth is mainly due to an increase in remittances by 26% year-on-year to $38.1 billion, in our view." The surplus was largely driven by a sharp 26% year-on-year jump in workers' remittances, which soared to $38.1 billion. This inflow has helped cushion the impact of a widening trade deficit, as goods imports surged by 11% to $54.1 billion, outpacing the modest 4% growth in goods exports that stood at $29.7 billion. Exports faced a fresh blow in May 2025, slipping by 19% year-on-year to $2.4 billion, while technology exports, once seen as a potential growth engine, edged down 1% to $329 million. This underperformance underscores Pakistan's struggle to diversify and expand its export base. Nasheed Malik of Topline Securities noted that Pakistan recorded monthly IT exports worth $329 million in May 2025, reflecting a slight decline of 1% year-on-year but an increase of 4% on a month-on-month basis. These exports were also higher than the 12-month average of $314 million. Notably, this marked the first year-on-year decline in IT exports after 19 consecutive months of growth. Export proceeds averaged $16.5 million per day in May 2025, up from $15.9 million in April 2025. Cumulatively, IT exports reached approximately $3.5 billion during 11MFY25, showing a strong 19% year-on-year increase. This impressive growth is attributed to several key factors: the expansion of Pakistani IT companies' client base globally, especially in the GCC region; the relaxation by the State Bank of Pakistan (SBP) of the permissible retention limit in Exporters' Specialised Foreign Currency Accounts from 35% to 50%; the allowance of equity investment abroad through these accounts; and the stability of the Pakistani rupee, which has encouraged exporters to repatriate a larger portion of their earnings. Pakistani IT firms have also been actively engaging with international clients, as demonstrated by their participation in major global events such as LEAP 2025 in Saudi Arabia and Web Summit Qatar 2025, said Malik. A significant development in FY25 is the SBP's introduction of a new category — Equity Investment Abroad (EIA) — specifically for export-oriented IT companies. Under this provision, IT exporters can now acquire equity stakes in foreign entities by utilising up to 50% of the proceeds from their specialised foreign currency accounts. This measure is expected to further boost the confidence of IT exporters and incentivise the repatriation of export earnings to Pakistan. Meanwhile, the services sector remains in deficit, posting a gap of $2.7 billion for the period, as service exports failed to offset persistent import demand. The primary income deficit, largely reflecting profit repatriation and interest payments on external debt, stood at a hefty $7.9 billion in 11MFY25. Adding to the concern is the sharp decline in foreign direct investment (FDI) inflows, which dropped to $1.98 billion, indicating foreign investors' cautious stance amid Pakistan's challenging economic and political landscape. Analysts warn that the recent surplus is not structural but cyclical, heavily reliant on remittances and import compression. "If imports rebound or remittance growth slows, the surplus could swiftly reverse," a market observer noted. The outlook for the external account remains uncertain, with potential risks stemming from volatile global oil prices and rising debt servicing needs, both of which could strain Pakistan's fragile external position. In May 2025, Pakistan's primary income deficit narrowed significantly by 47% year-on-year to $777 million, compared to $1,478 million in May 2024, largely due to the absence of hefty profit repatriation recorded in the same period last year. However, on a month-on-month basis, the deficit widened by 31%. Meanwhile, the balance on secondary income improved by 12% year-on-year, rising to $3.9 billion in May 2025 from $3.5 billion in May 2024, supported by strong inflows such as workers' remittances. On a month-on-month comparison, however, secondary income declined by 13% from $3.5 billion recorded in April 2025.
The Sun
07-05-2025
- Business
- The Sun
Thailand Showcases Climate Tech Startups at Web Summit Qatar 2025 to Accelerate Green Innovation on Global Stage
BANGKOK, THAILAND - Media OutReach Newswire - 7 May 2025 - The Ministry of Higher Education, Science, Research and Innovation (MHESI), through the National Innovation Agency (Public Organization), or NIA, is opening up new international opportunities by leading four Thai startups specializing in environmental technologies (Climate Tech/Green Tech) to participate in the Web Summit Qatar 2025 in its capital Doha. The event serves as a gateway for Thai innovation to enter the global market, bringing together startups, experts, and international investors to exchange insights and showcase cutting-edge solutions. This move comes amid booming global demand for green technology. The environmental tech sector is expected to grow at an average rate of 25% annually over the next ten years, underscoring a unique opportunity for Thailand to cultivate and launch a new generation of climate/green tech startups—potentially propelling them to unicorn status. Dr. Krithpaka Boonfueng, Executive Director of the National Innovation Agency (NIA), noted that the global sustainability movement is gaining significant momentum. SMEs, startups, and industrial sectors worldwide are rapidly integrating technology to drive sustainable innovation. As a result, startups that develop solutions for environmental preservation and climate change mitigation are attracting increasing attention from both consumers and investors—domestically and abroad. The surging global appetite for these technologies reinforces their massive market potential, with projections suggesting a sustained average growth rate of 25% annually for the next decade. Thai startups are well equipped with innovation capabilities comparable to their international counterparts. However, a lack of opportunities and readiness in structured business management has often hindered their full potential for expansion into global markets. As the nation's designated Focal Conductor for innovation, the NIA is therefore committed to providing comprehensive support—including funding, opportunities, and knowledge development—to empower Thai startups to grow with greater strength and readiness for international expansion. A particular focus is being placed on accelerating the development of startups in the fields of environmental technology and sustainability, with the ambition of nurturing more Thai unicorns—startups valued at over 1 billion US dollars—over the coming years. To achieve this, it is crucial to stimulate investment through collaborative efforts between the public sector, private enterprises, and academic institutions. One key initiative towards this goal is the Unicorn Factory Thailand project, which aims to enhance the capabilities of promising startups and unlock new opportunities to propel them onto the global stage. The program will feature workshops targeted at startups in the Series A stage and beyond, covering vital areas such as building sustainable businesses, expanding investor and partner networks, strategies for international market entry, and gaining opportunities to pitch at leading global technology and innovation showcases. Dr. Krithpaka further added that over the past year, the NIA successfully created new business opportunities and connected four growth-stage Thai startups, along with one winning student team from the Startup Thailand League 2024, to the global stage at TechCrunch Disrupt 2024—a leading global technology and startup conference and exhibition. During the event, the delegation also engaged in discussions with partner organizations supporting startup development in the United States. These engagements provided valuable exposure for Thai startups, enabling them to explore market expansion strategies and gain access to networks of investors, experts, and global business partners. In 2025, the NIA remains committed to driving Thai startups towards international markets by continually building new business opportunities. This year, four promising Thai startups in the fields of Climate Tech and Green Tech have been selected for further internationalization efforts. These are: 1. – developers of intelligent energy management systems; 2. ION ENERGY CORPORATION – a leading provider of residential solar energy solutions in Thailand, offering integrated energy management and payment platforms for PPA/EPC clients; 3. VEKIN (Thailand) – creators of the AI Carbon Editor tool, designed to analyze and manage carbon emissions for corporate and industrial sectors; and 4. MUI Robotics – developers of intelligent robotics and automation systems for applications in industries such as manufacturing, logistics, healthcare, and agriculture. These four startups are showcasing their innovations, presenting business plans, and engaging directly with investors and international markets at Web Summit Qatar 2025, held in Doha, Qatar. As the Middle East's largest technology and startup conference, the event brings together startups, investors, major corporations, public and private sector organizations, and technology leaders from across industries to exchange knowledge, foster collaboration, and strengthen the international startup ecosystem. The summit expects more than 25,000 attendees, featuring 1,520 startup companies, 723 investors, and 167 partners from around the world. Notably, the Thai startups' booths attracted strong interest from investors and businesses across multiple countries, resulting in numerous business discussions and information exchanges. 'The NIA aims to produce one to two new homegrown unicorns within the next three years, focusing on startups in the FoodTech and GreenTech sectors,' stated Dr Krithpaka. 'These sectors have considerable market demand, particularly GreenTech, which is proving especially promising. Organizations of all sizes—from large corporations to SMEs—are actively seeking solutions to environmental challenges, spurred in part by the growing pressure of carbon taxes imposed on fossil fuel emissions. This has created significant demand for environmental innovations, providing fertile ground for the emergence of high-growth startups in this space. Investment in environmental and sustainability-focused technologies continues to rise, both in Thailand and abroad. Thailand, in particular, offers a unique combination of factors that position its startups for global expansion: abundant space and resources, as well as real-world environmental challenges that make it an ideal sandbox environment for piloting environmental technologies. These technologies can be trialed across industries under the country's Green Transformation framework—whether through the adoption of renewable energy, boosting energy efficiency, reducing greenhouse gas emissions, or mitigating pollution. There is capital available—both from end-users and from investors—and there is strong momentum in the ecosystem. All of this makes Thailand a viable launchpad for unicorns.' Mr Phattananat Wongwan, Chief Growth Officer (CGO) of MUI Robotics Co Ltd, stated that MUI Robotics' technologies are already being widely adopted within Thai industries, thanks to their ability to address environmental concerns within industrial production processes. With the support of the NIA, MUI Robotics has been able to accelerate its growth and extend its reach into international markets. In particular, the opportunity to meet with investors and showcase their solutions at Web Summit Qatar 2025 has significantly raised the profile of Thai innovation and helped gain recognition from overseas investors. 'Our technologies go beyond solving local environmental challenges—they're applicable to industrial problems on a global scale,' said Mr Phattananat. He emphasized that government support is key to enabling more startups to emerge and thrive. 'If the government continues to champion and invest in the startup ecosystem, especially in the Climate Tech and Green Tech sectors, Thai startups will be well positioned for sustainable growth on the world stage.' Mr Pamekitti Puktalae, Technical Product at AltoTech Global Co Ltd, remarked that many industries today are striving to position themselves as leaders in sustainability. This demand creates opportunities for startups developing environmental solutions—whether by creating carbon-neutral spaces or providing ESG-supporting tools—to step in and add real value. He continued, 'NIA's support in enabling AltoTech, which integrates AI and IoT to address sustainability challenges, to showcase our capabilities at Web Summit Qatar 2025 has opened a crucial gateway for Thai startups to enter the global stage. A market like Qatar, which prioritizes sustainability and smart infrastructure, is an ideal fit. Participating in this event has not only allowed us to engage with global stakeholders and gain insights into international market demands, but also helped us fine-tune our solutions to align with diverse expectations and accelerate our global expansion.' 'Additionally,' he added, 'this opportunity has significantly boosted the credibility of Thai entrepreneurs, which in turn has increased our visibility and appeal to both domestic and international investors.'
Zawya
07-04-2025
- Business
- Zawya
Qatar: QIA's $1bln Fund of Funds programme set to highlight Startup Grind talk
Qatar - Leading venture capital (VC) firms under the Qatar Investment Authority's (QIA) $1bn Fund of Fund programme will discuss how this will impact the country's startup ecosystem during a Startup Grind Qatar event scheduled for April 16 at Workinton Alfardan Centre. Moderated by European Business Angels Network board member Marcel Dridje, the panellists include A-Typical Ventures founding & managing partner Alina Truhina; Rasmal Ventures partner Soumaya Ben Beya Dridje; Deerfield Management operating partner Dr Mussaad al-Razouki; B Capital principal Rishabh Aggarwal; and Human Capital operating partner Pradeep Desu. According to Startup Grind Qatar, the panel discussion will explore the plans and strategies of these VCs for Qatar and the region and how startups and stakeholders in Qatar can leverage their presence in the country. Startup Grind Qatar underscored QIA's $1bn Fund of Fund programme, stating this 'has changed Qatar's startup ecosystem.' The programme, Startup Grind Qatar further explained, 'is designed to bolster investments in startups as Qatar looks to grow the local startup ecosystem exponentially.' At the inaugural Web Summit Qatar held in Doha last February 2024, QIA launched the programme, which aims to 'develop a vibrant start-up and venture capital ecosystem in Qatar, spurring investment, growth, and innovation.' The QIA website stated, 'The programme aims to help close the current funding gap for entrepreneurs by providing financial resources while facilitating broader ecosystem support (e.g. helping to navigate the local landscape, supporting business introductions), bringing global best practices and capabilities to Qatar.' It further explained, 'By nurturing a robust venture capital ecosystem, the fund will help boost economic diversification, target sector growth, support local talent development, and promote sustainability across Qatar.' Aside from providing $1bn worth of funding to VC fund managers, the programme also aims to 'invest indirectly through existing venture capital funds and make targeted direct co-investments, and partner with fund managers with demonstrable track records of positive returns and commitment to Qatar.' During Web Summit Qatar 2025, HE the Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim al-Thani lauded the programme on its first anniversary, saying the QIA 'had fulfilled its commitment' in setting up the programme and for selecting an initial 'six leading global investment entities to deploy capital internationally, regionally, and locally.' QIA also announced at Web Summit Qatar 2025 its investments in B Capital and Deerfield. Both firms, which will be opening their regional headquarters in Doha this year, join Rasmal Ventures, Utopia Capital Management, Builders VC, and Human Capital 'as the first investment firms to participate' in the programme. Earlier, Gulf Times had reported that Utopia, backed by QIA and Qatar Development Bank (QDB), launched A-Typical Ventures during Web Summit Qatar 2025. 'A-Typical Ventures will launch a venture studio, and it is actively seeking the region's entrepreneurs looking to scale innovations and drive economic diversification across sectors, such as fintech, healthtech, e-commerce, logistics and mobility, and climatetech,' the paper further stated. © Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. ( Peter Alagos
Wamda
24-03-2025
- Business
- Wamda
Beyond the hype, what actually happened in Web Summit Qatar: Pt.2
An overview of key trends, investment climate, and real opportunities for regional startups from the floor of Web Summit Qatar 2025. An article by Yaroslav Kologryvov, CBDO and co-founder of PLATMA AI startup. In the first part we discussed that Web Summit Qatar 2025 showcased MENA's evolving tech landscape, with AI, fintech, and cybersecurity taking centre stage, signalling the region's strategic push for innovation and investment. In the second part, we uncover the real state of venture investment in MENA—what investors are truly looking for, the challenges startups face, and the tangible opportunities the summit provided for scaling businesses in the region. The real state of venture investment in the region Officially, the presence of 723 investors was announced at the summit. I cannot say that my startup and others were able to meet with each of them (as with any large event, this is practically impossible). However, the quality of interaction with them was significantly higher than at other regional events. The compact format of the summit (4 times smaller than in Lisbon) contributed to deeper and more substantive discussions. Working at the PLATMA exhibition booth, I noted several key trends in the investment landscape: What investors are looking for Focus on practical application. Investors no longer respond to merely "innovative ideas" – they are looking for projects with proven results and a clear monetisation strategy. Solutions in the fields of business AI, fintech, and operational process optimisation were especially in demand. Regional specificity. Copying Western business models without considering local specifics no longer attracts serious investors. Successful startups demonstrated a deep understanding of regional peculiarities – cultural, regulatory, and infrastructural. What doesn't work "Raw" ideas without an MVP. Investors showed minimal interest in projects at the idea stage without a working prototype or first customers. Global solutions without local adaptation. Projects that don't take into account the specifics of the MENA region attracted almost no attention. Focus only on technology without understanding the business model. Technically complex projects without a clear path to monetisation did not interest investors. The real value of Web Summit for regional startups Qatar Financial Centre (QFC) offered perhaps the most tangible and practical opportunity: free annual registration instead of the standard fee of $4,000. Of course, we, like many other startups, did not miss the opportunity to take advantage of this offer. More than 1,634 companies registered to open offices in Qatar, and 156 received licences directly during the event. Practical opportunities for startups: Infrastructural support. Besides QFC, active support for startups was provided by Qatar National Bank (QNB) and Qatar Research, Development and Innovation Council (QRDI). Unlike purely marketing statements, here we're talking about specific programmes and resources. Quality networking. The adequate size of the event allowed for effective use of time for communication with potential partners and investors. The absence of exhausting queues and hustle, characteristic of other large technology conferences, was a pleasant bonus. Concrete results. According to the organisers, early startups that attended Web Summit Qatar 2024 attracted $120 million in funding over the past year. This figure seems plausible, given the activity of investors such as 500 Global, Greycroft, and Peak XV. I'm confident that this year's amounts will be even more significant! Regional focus. My colleagues and I believe that Web Summit Qatar differs from GITEX in Dubai or LEAP in Riyadh precisely in its orientation towards the needs of regional startups. 228 Qatari startups had the opportunity to showcase their solutions to the global technology community – and these are really good numbers! Practical recommendations for startups For our team, this wasn't the first Web Summit. We had previously been to Lisbon, and I really have something to compare it to. Based on my experience, as well as with the support of Alexey Pavlov, founder of the fintech startup XONO, we've compiled several recommendations for startups planning to participate in future events: Use infrastructural opportunities. Offers from structures like QFC are not just marketing actions but a real opportunity to reduce operational costs when entering the Qatar market. Focus on demonstrating practical applications. Investors in the region have become more selective and are looking for solutions with proven effectiveness. Adapt your product to regional peculiarities. Taking into account cultural, linguistic, and regulatory aspects significantly increases the chances of attracting both investments and first customers. Use the size of the event to your advantage. The compactness of Web Summit Qatar compared to giant conferences allows for more efficient planning of meetings and establishing valuable contacts. "Web Summit Qatar is a powerful platform for young startups to gain visibility, learn from industry leaders, and connect with potential investors and partners. My advice to startups is to enter the summit with a strategic approach—define clear objectives, whether it's raising funds, forming partnerships, or gaining industry insights," noted Alexey Pavlov, founder of the fintech startup XONO. Also according to Alexey, Web Summit provides a structured way to transact through: Investor Office Hours – Private 1-on-1 meetings with VCs. Startup Showcases & Pitch Competitions – Giving startups high visibility. Workshops on fundraising strategies & regional regulations – Helping startups align with investor expectations. Follow-up networking events – Keeping the momentum alive post-summit. To secure deals, startups should send follow-ups immediately after meetings and demonstrate traction through real-world use cases. Conclusion: A realistic view of the future Web Summit Qatar showed that despite the global decline in venture funding, the MENA region continues to actively develop and attract investments. Qatar is successfully positioning itself as a technology hub, creating not only attractive conditions for startups but also real infrastructure. Our experience and the experience of other startups we talked to at this event were unequivocally positive. We not only took advantage of the QFC offer but also established valuable contacts that are already beginning to bring practical results. For startups considering the MENA region as a promising market, Web Summit Qatar represents real value – not as a place to collect business cards, but as a platform for establishing quality connections and practical steps for market entry. Unlike larger and noisier events, the emphasis here is on the quality of interaction, not on quantitative indicators. I am confident that in the coming years, we will see a growth in the number of successful projects that started precisely thanks to the connections and opportunities obtained at Web Summit Qatar.
Wamda
17-03-2025
- Business
- Wamda
Beyond the hype, what actually happened in Web Summit Qatar: Pt.1
An overview of key trends, investment climate, and real opportunities for regional startups from the floor of Web Summit Qatar 2025. An article by Yaroslav Kologryvov, CBDO and co-founder of PLATMA AI startup After spending four intense days at Web Summit Qatar 2025, I want to share my observations about what's really happening behind the facade of official press releases and loud announcements. As a representative of PLATMA, a company actively growing in the MENA region, I evaluate the event from a practical perspective: which trends are actually shaping the market, what's the state of venture investment, and what value does the summit offer to startups? The global technology industry is entering a new phase of development, and the MENA region is actively establishing its position in this process. The scale of the event is impressive: 25,700 participants (10,000 more than last year), a 45% increase in startup exhibitions, and presentations by industry leaders such as Alexander Wang (Scale AI), Alexis Ohanian (Seven Seven Six, Reddit co-founder), and Blake Chandlee (TikTok). Dominant technology trends 1. Artificial intelligence as a key innovation driver AI was the absolute leader among the technologies presented, accounting for 17% of all startups at the summit. I particularly note that there were active discussions about implementing AI in various business functions to automate tasks and improve decision-making processes. There was also talk about AI-based customer service and how it will help improve customer interactions. Of course, these aren't new trends, and AI is already being used in these areas in the region, but the fact that these became topics for discussion indicates that they remain relevant and will develop further in the coming years. A landmark event was Qatar's signing of a five-year agreement with Scale AI to implement AI tools to improve government services. For me, as a co-founder and CBDO of PLATMA, an AI startup based in MENA, this is a particularly significant indicator of the region's long-term government strategy. 2. Evolution of the region's fintech ecosystem Fintech discussions also took centre stage at Web Summit Qatar 2025. Here are several key fintech directions that were clearly evident in the discussions: Integrated financial infrastructures for business (B2B) – platforms that unite disparate financial functions into a single system. A prime example is XONO with its innovative Financial OS, which combines payments, expense management, compliance, and cash flow optimisation into a unified infrastructure. In conversation with their representatives, I learnt that investors were particularly interested in their approach to integrating various financial functions, as it solves the real problem of fragmented financial instruments in the region. Embedded finance and BNPL solutions – a segment particularly relevant for the MENA region, where small and medium businesses are actively seeking comprehensive financial solutions. The notable partnership between Yuno and Snoonu, which was announced right at the summit, demonstrates this trend — it aims to improve the payment infrastructure of the popular Qatari super-app Snoonu. Digital financial accessibility – alternative credit scoring models using AI and behavioural analytics to provide financing to unbanked population groups, platforms for cross-border transfers using blockchain for instant and low-cost transfers. Islamic fintech solutions – a niche but rapidly growing segment that takes into account the specifics of Sharia financing, which is critically important for the region. 3. Sports technologies as a reflection of regional ambitions Qatar Sports Investments (QSI) presented PSG Labs – a global initiative aimed at developing innovations in the sports industry. Fabien Allègre, PSG's Brand Director, shared the strategy of creating a football club as a global technology brand, reflecting Qatar's ambitions in this area. 4. Crypto technologies: A controversial but notable trend Despite regulatory restrictions (cryptocurrency is illegal in Qatar), a significant number of crypto projects at the summit indicate growing interest in decentralised finance in the region and the potential for its liberalisation. Cybersecurity and Regulatory Environment: Present and Future Digital finance security issues drew close attention from summit participants. Cybersecurity remains one of the top priorities, given the growing threats in the digital finance sphere. The focus of discussions: AI systems for real-time fraud detection — technologies that analyze transactions in real-time and identify suspicious operations Zero-trust security models for financial transactions — an approach where each action requires verification Decentralized solutions for digital identity management — systems that allow users to maintain control over their data "With MENA fintech adoption growing rapidly, tackling these issues proactively is crucial. Solutions showcased at the summit provide a strong foundation, but continuous evolution is necessary to stay ahead of emerging threats," noted Alexey Pavlov, founder of the fintech startup XONO. Alexey also mentioned in conversation that although no specific regulatory changes were announced, there were substantive discussions about regulatory developments in the MENA region, including growing attention to digital payments, open banking systems, and the role of regulatory technologies (RegTech). For startups, this creates a more predictable environment for developing innovative solutions.
