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    UAE is a magnet to invest, innovate and collaborate: Alibaba

    Mohammed Fahad
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    UAE is a magnet to invest, innovate and collaborate: Alibaba

    • Nation’s commitment to cloud infrastructure and AI is further reinforced by clear, innovation-friendly policies and its strategic status as the commercial bridge between East and West.

    UAE’s open, diverse and dynamic market environment simply cannot be overstated—it’s a magnet for international companies eager to invest, innovate, and collaborate, Eric Wan, Vice President of Alibaba Cloud International and General Manager for the Middle East, Turkey, and Middle Asia, said at the Gitex Global 2025.

    “The UAE has become a cornerstone for major cloud service providers like us, thanks to its robust economic framework and progressive legislative initiatives. The nation’s commitment to cloud infrastructure and artificial intelligence (AI) is further reinforced by clear, innovation-friendly policies and its strategic status as the commercial bridge between East and West.”

    Moreover, he added that it’s exciting to witness the rapid growth in demand for cloud services and AI across this region.

    “For us at Alibaba Cloud, the UAE and neighbouring markets are more than just high-potential arenas—they’re strategic pillars that fuel our global expansion and investment strategy.

    “As we deepen our partnerships, the focus remains on developing local talent and empowering diverse sectors to unlock the value within our digital infrastructure, products, and AI capabilities.”

    The ongoing investments underline Alibaba’s steadfast commitment to the region: the launch of second data centre in Dubai and the forging of multiple Memoranda of Understanding (MoUs) with local partners are milestones in a long-term vision, he said.

    By working closely with UAE businesses and communities, “we look forward to building a smarter, connected, and more innovative future together.”

    Synology fortifies enterprise cyber resilience solutions

    TCN Bureau
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    Synology fortifies enterprise cyber resilience solutions
    • The right balance between security, performance, and cost is essential for true cyber resiliency, official says.

    Synology gathered around 200 industry professionals for its Solution Day 2025, turning the spotlight on the evolving challenges and solutions in enterprise IT.

    Participants dove into hands-on demos, keen discussions on regional trends, and a closer look at technologies designed to fortify cyber resilience amid rapidly changing digital landscapes.

    Antoine Yang, Synology’s Regional Sales Manager, set the tone by addressing the growing number of UAE enterprises turning toward hybrid cloud architectures.

    “Organisations want the flexibility and innovation that hybrid strategies provide,” he explained. “But managing these diverse environments securely and efficiently is no easy feat. The right balance between security, performance, and cost is essential for true cyber resiliency.”

    Key takeaways

    As IT complexity rises, Synology presented sobering statistics from its latest MEA regional survey, uncovering vulnerability and opportunity:

    • Less than 18% of regional enterprises are truly confident in their ability to fend off escalating cyber threats.
    • Approximately 32% faced data loss or security incidents in the past year—reminding everyone that preparedness can’t be an afterthought.
    • Nearly 71% of IT leaders rank security as their top priority when designing infrastructure, emphasising the need for dependable, trusted solutions.
    • Data protection and disaster recovery are on every agenda. Nearly two-thirds of businesses expect these needs to drive massive data growth in the coming year, spotlighting scalable storage as critical for business continuity.
    • While awareness is growing, 63.5% of IT leaders acknowledge that high costs make continuity challenging to maintain.

    These findings serve as a wake-up call for organizations to craft holistic, sustainable strategies that simplify IT management while protecting data and operations.

    Showcasing latest enterprise solutions

    Attendees had their first look at the new high-performance solutions from Synology:

    • PAS Series: Powered by active-active dual controllers and end-to-end NVMe tech, built to guarantee high availability and rapid failover.
    • GS Series: A scale-out storage system that supports petabyte-level expansion, with modular nodes tailored to ever-growing enterprise needs.

    Synology’s recent rollouts—DP7200 and APM1.1—bring advanced protections and compliance features to the fore. Enhanced immutability and air-gap mechanisms, like Write Once, Read Many (WORM) and isolated network access, shield critical data against malicious deletion and tampering.

    The strengthened suite enables best-practice backup strategies, aligning with the robust 3-2-1-1-0 model, ensuring data remains recoverable and compliant.

    Stepping beyond pure storage, Synology is amplifying its digital workplace toolkit. Businesses can now leverage the Synology Office Suite for real-time collaboration, a new integrated messaging and video conferencing platform, and AI-powered productivity boosters—all managed from the centralised Synology AI Console.

    For those who crave full customisation and speed, on-premises AI servers and tailored AI agents promise to push efficiency even further.

    Synology’s approach, as underscored by Antoine Yang, is tailored for markets that prize control, flexibility, and value. “Especially in places like the UAE, keeping data local, protected, and manageable is non-negotiable. We want enterprises to scale with peace of mind.”

    Samsung, SK Hynix to supply memory chips to OpenAI’s Stargate project

    Mohammed Fahad
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    Samsung, SK Hynix to supply memory chips to OpenAI’s Stargate project
    • Joint ventures will launch two flagship AI data centres with an inaugural capacity of 20MW.

    OpenAI’s quest to cement its place at the forefront of artificial intelligence just took a dramatic leap forward—this time, with powerful allies from South Korea.

    Samsung Electronics and SK Hynix, two titans wielding dominance in the global memory chip arena, have both signed pivotal letters of intent to supply high-performance memory chips to OpenAI’s rapidly expanding data centre empire.

    The collaboration marks a defining turn in the race to deliver on the ambitions of the Stargate project, OpenAI’s $500 billion brainchild set to transform the world’s AI infrastructure landscape.

    South Korea as Asia’s new AI hub

    The energy in central Seoul was palpable as OpenAI CEO Sam Altman joined President Lee Jae Myung and the leaders of Samsung and SK Hynix at the presidential office. Far more than a photo-op, the event laid the foundation for two advanced data centers on Korean soil, part of a “Korean-style Stargate.”

    Seoul’s determination to evolve into Asia’s AI nucleus is backed by its massive base of ChatGPT subscribers—outnumbered only by those in the United States. Altman captured the moment, stating, “We’re very excited to get to build Stargate Korea and data centres with our wonderful partners to support the sovereign AI needs of Korea.”

    The Stargate ecosystem

    South Korea’s chipmaking power is foundational to this vision. Combined, Samsung and SK Hynix control nearly 70 per cent of the global DRAM (Dynamic Random Access Memory) market and an even more commanding share (close to 80 per cent) in high-bandwidth memory (HBM)—the must-have component for turbo-charged AI applications.

    Analysts estimate that OpenAI’s proposed order for 900,000 advanced DRAM wafers by 2029 could exceed 100 trillion won, or around $70 billion, though that figure may shift with memory cycles.

    United States leadership remains central. It was US President Donald Trump who announced Stargate’s ambitious grounds in January, charging partners like Oracle, SoftBank, and now the Korean chipmakers, with ensuring US primacy in AI. Nvidia, meanwhile, has pledged up to $100 billion in data centre technology for OpenAI, further amplifying the global stakes.

    Building the future

    As OpenAI cements itself in Korea—having opened its first Seoul office this year—it also signals a time of expansion and high expectations. The joint ventures with Samsung and SK Hynix will launch two flagship AI data centres with an inaugural capacity of 20 megawatts.

    South Korea’s administration has even kept the door open to potential public financing. Presidential adviser Kim Yong-beom highlighted that “the significant part of the Stargate project would be impossible without memory chips from the two companies,” describing the partnership as a leap forward for Korea’s domestic chip industry.

    An AI gold rush is now well underway: alongside the chip supply deals, Samsung SDS, Samsung Heavy Industries, and Samsung C&T are all joining the Stargate ecosystem.

    From developing floating offshore data centres to pioneering energy-efficient cooling, their projects aim to redefine both infrastructure and sustainability in AI.

    Opportunity and caution

    Of course, not everything is smooth sailing. Industry watchers worry about the prospect of overbuilding and the risk of an AI investment bubble. Stargate itself has experienced delays tied to complex negotiations and site selection.

    Yet, the prevailing sentiment is bullish: the collective expertise of Korea’s industrial giants, global AI leaders, and US tech visionaries is building a new backbone for the planet’s digital future.

    Paytm’s UPI credit line to ease short-term borrowing

    Ana Mary Joseph
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    Paytm’s UPI credit line to ease short-term borrowing
    • The digital credit line rides atop India’s UPI rail, meeting consumers on the platform they already use for day-to-day transactions.
    • India is entering an era where UPI, BNPL, and digital wallets are merging into a seamless financial ecosystem.

    Paytm’s leap into credit on the Unified Payments Interface (UPI) is quickly turning heads and could have a profound effect on how Indians access short-term borrowing.

    Instead of relying on traditional credit cards, Paytm’s latest feature—”Paytm Postpaid”—lets users shop now and cover their expenses later, sparking new excitement around Buy Now, Pay Later (BNPL) functionality in one of the world’s busiest payment economies.

    Launched in partnership with Suryoday Small Finance Bank in September 2025, “Paytm Postpaid” enables seamless spending with the simple promise: “Spend Now, Pay Next Month.” Cardless and frictionless, this digital credit line rides atop India’s UPI rail, meeting consumers on the platform they already use for day-to-day transactions.

    It’s a key milestone for financial inclusion, especially in a country where credit card ownership remains modest by global standards yet smartphone adoption soars.

    India: Payments powerhouse

    According to GlobalData, UPI currently processes around 20 billion transactions a month, cementing India’s status as a global real-time payments powerhouse.

    Ravi Sharma, Lead Banking and Payments Analyst at GlobalData, calls Paytm’s credit push on UPI a groundbreaking move, expanding liquidity options for consumers and upping the stakes for both banks and card issuers.

    “By skipping legacy cards and offering short-term credit directly via UPI, Paytm is set to boost both competition and BNPL adoption, giving millions easier access to credit.”

    The wider landscape is buzzing with innovation. For instance, transit-linked payments have taken a leap forward thanks to NPCI’s partnership with Chennai’s MTC, rolling out “RuPay On-The-Go,” a card that handles everything from metro rides to parking.

    Meanwhile, digital wallets have gone mainstream, powered by a tech-forward, youthful population. Google Wallet’s India debut in May 2024 made it easier than ever to store documents and digital credentials on the go, supported by a wide range of local brands.

    A unique group finance feature, “UPI Circle,” launched in August 2024, extends payment flexibility within families or closed groups by letting a primary user control delegated transactions—another stride toward broader payment access and inclusion.

    Sharma said that India is entering an era where UPI, BNPL, and digital wallets are merging into a seamless financial ecosystem.

    “The demand for flexible, embedded credit is rewriting playbooks across the industry, presenting opportunities and risks alike. As more firms race to offer convenience, regulatory vigilance remains vital to keep lending standards robust. Ultimately, the direction is clear—innovation, inclusion, and digital-first solutions will define India’s vibrant payments future.”

    Spotify to embrace a dual CEO structure from January

    Ana Mary Joseph
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    Spotify to embrace a dual CEO structure from January
    • Moving forward, Spotify’s top deck will feature co-CEOs Soderstrom and Norstrom.

    Spotify is shaking things up at the top in 2025. Daniel Ek, the Swedish billionaire who co-founded the legendary streaming platform, will hand over his CEO reins in January and transition to executive chairman.

    The big move comes as Spotify embraces a dual CEO structure—a shift aimed at sharpening its competitive edge and driving profitability amid intensifying global rivalry.

    Ek, who helped transform Spotify from a Stockholm startup into an international powerhouse, announced he’ll step back from daily operations. Instead, he’ll focus on capital allocation and long-term strategy, taking on a European-style chairman role.

    “Think of it as moving from a player to a coach,” Ek described, signaling his wish to stay involved in a hands-on but high-level way.

    Spotify’s lead in the music streaming world is impressive, boasting nearly 700 million monthly users and an enormous library spanning more than 100 million tracks.

    Its subscriber count eclipses Apple Music’s roughly 90 million, keeping competitors like YouTube Music and Amazon Music playing catch-up—though YouTube’s video integration and Amazon’s Prime perks continue to shape regional battles.

    Despite its commanding market position, the company has faced persistent profit-margin pressures. Artists are pushing for higher payouts, and the growth of Spotify’s ad-supported tier, while boosting user numbers, has challenged bottom-line growth.

    Innovative approach

    In 2024, global revenue from recorded music grew 4.8 per cent to $29.6 billion, with streaming crossing the $20 billion threshold for the first time. More than half of that came from paid subscriptions, cementing streaming’s dominance, per IFPI’s Global Music Report.

    Spotify had a hard-won victory in the black last year, posting its first annual profit thanks to a cocktail of price hikes and cost-cutting. This financial turnaround marks a milestone for a company that, since its 2006 founding, has battled tech giants, piracy, and a declining industry.

    Today, Spotify is both a pioneer and an icon for Europe’s tech scene, often cited as proof positive that the region can produce scale-up giants to rival Silicon Valley and Asia.

    Moving forward, Spotify’s top deck will feature co-CEOs Soderstrom and Norstrom—a team with over 15 years’ joint experience at the company and complementary skill sets.

    Soderstrom, the tech and product guru, will chart Spotify’s digital future, while Norstrom heads up business growth, subscriber engagement, and content operations across music, podcasts, and audiobooks. Both will directly report to Ek, preserving tight alignment with Spotify’s visionary leader.

    The co-CEO structure isn’t entirely uncharted territory among major tech firms. Oracle and Netflix, for instance, have successfully used two-headed leadership to navigate expansion and complexity.

    Still, sceptics argue that dual CEOs risk blurring the lines of command. Only time will tell whether this innovative approach turns out to be the secret sauce for sustained growth and resilience in the face of fierce competition and relentless industry evolution.

    LG Electronics India eyes $8.71b valuation in landmark IPO launch

    Mohammed Fahad
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    LG Electronics India eyes $8.71b valuation in landmark IPO launch
    • Prospective investors will be able to place their bids during a three-day window starting October 7, while major anchor investors get a head start on October 6.
    • South Korean consumer electronics giant isn’t issuing any new shares; all shares on offer are existing ones.

    It looks like LG Electronics India is stepping into the IPO spotlight in a major way. The company is chasing a valuation of up to Rs774 billion, which is approximately $8.71 billion, making it one of the most significant public offerings in India this year.

    The price band for its upcoming listing is set between Rs1,080 and Rs1,140 per share, as revealed in a public filing.

    Prospective investors will be able to place their bids during a three-day window starting October 7, while major anchor investors get a head start on October 6.

    At the higher end of the price range, the IPO could raise up to Rs116 billion rupees, or about $1.3 billion, for LG Electronics Inc—the South Korean parent company, which is set to sell a 15 per cent stake.

    Notably, LG Electronics India isn’t issuing any new shares; all shares on offer are existing ones.

    October: A busy month for IPO

    The journey to this IPO has been a bit bumpy. The initial filing happened last December, aiming for a listing by May. Plans were postponed due to concerns over market instability but now, with the market buzzing and investor sentiment robust, the timing seems right to move forward.

    October is shaping up to be a bustling month for IPO activity in India, with Tata Capital’s $1.75 billion IPO—the country’s biggest in 2025—launching concurrently. Meanwhile, co-working giant WeWork is also expected to test market waters at the same time.

    Adding to the optimism, India’s tax authorities recently reduced consumption taxes on several products, including electronics, from 28 per cent to 18 per cent. This move is geared toward boosting demand ahead of the all-important festive shopping season.

    LG Electronics India stands as the country’s second-largest appliance manufacturer, offering products like refrigerators, washing machines, and TVs. It’s locked in competition with global players such as Whirlpool and Samsung, as the Indian home appliances market is projected to grow at an annual rate of 12 per cent until 2029, according to consultancy RedSeer.

    This IPO continues an already strong year for India’s capital markets. As of September 30, companies raised nearly Rs910 billion through IPOs—up significantly from the previous year, signaling growing investor appetite and a vibrant fundraising environment.

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