Large companies with significant digital revenues in the European Union such as Google and Facebook could face a three percent tax on their turnover under a draft proposal by the European Commission seen by Reuters.
News, Software
Egypt lifts ban on Uber and Careem
An Egyptian court ruled to revoke the suspension of the licenses of ride-hailing companies Uber and Careem, allowing them to continue their work, Reuters reports citing judicial sources said. 0 2103
Saudi crown prince to meet with tech giants on US visit
Saudi Arabia’s Crown Prince Mohammed Bin Salman plans to meet with executives from global companies including the heads of Apple and Google, during his first trip to the US, according to a report by Bloomber which cited a person briefed on the trip’s details.
Prominent tech conference under fire for lack of diversity
Cybersecurity professionals from companies including Facebook and Alphabet have created a small security event to rival Dell’s RSA Conference after criticising the major industry gathering for scheduling just one female keynote speaker this year.
Toyota to invest $2.8 billion in self-driving tech
Toyota is reportedly planning a new venture that would be investing over $2.8 billion to develop automated-driving software, according to a report by Reuters.
SoftBank backs Uber’s IPO plans
SoftBank Vision Fund CEO Rajeev Misra has recently spoke out about Uber’s plans to go public pledging full support to the ride-hailing firm’s future plans.
Automotive data monetisation to touch $33 billion by 2025
Automotive data could potentially be $100 per car currently, offering original equipment manufacturers (OEMs) in the automotive data monetisation market …
Middle East to pump more cash into SoftBank Vision Fund
SoftBank Group could potentially get more investments from the Middle East as it pushes to reach its $100 billion fundraising target for its private equity fund that aims to target the technology sector.
Saudi Arabia’s PIF mulls investment in VR startup
Saudi Arabia’s sovereign wealth fund Public Investment Fund is reportedly in talks to invest as much as $400 million in Magic Leap.
Waymo gets the go ahead for US driverless taxi service
The designation lets Waymo’s fleet of driverless Chrysler Pacifica minivans pickup and drop off paying riders in Arizona through a smartphone app or website.
Dubai-based Careem buys online restaurant listing platform
Middle East ride-hailing firm Careem has announced that it has acquired RoundMenu and will start trialing food delivery services through …