Breaking news

Cyprus And UAE Strengthen AI Collaboration With MoU

by THEFUTURE.TEAM

February 13, 2025

At the World Governments Summit in Dubai on February 12-13, Cyprus and the UAE took a significant step in advancing artificial intelligence (AI) collaboration by signing a Memorandum of Understanding (MoU). The MoU was signed by Cyprus’ Deputy Minister of Innovation, Nicodemos Damianou, and the UAE Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, Omar Sultan Al Olama.

A Shared Vision For Innovation And Socio-Economic Progress

The MoU, signed during a summit that attracts global leaders in technology, aims to enhance bilateral ties between the two nations. It seeks to foster innovation and tackle socio-economic challenges jointly, facilitating the exchange of best practices and accelerating the integration of AI across both public and private sectors. Both nations are working towards enhancing their respective AI ecosystems.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

Damianou expressed his gratitude for the hospitality and commitment shown by the UAE and emphasized that this partnership would build a more effective and tangible relationship between the countries. He underscored the importance of AI in driving technological progress and its potential to offer solutions to common challenges, highlighting that international cooperation with AI pioneers like the UAE is crucial for its responsible and effective development.

“This MoU reflects our shared commitment to harness AI as a key pillar for the development of our economies, industries, and societies,” said Damianou. He also expressed hope that this partnership could evolve into a regional effort, leveraging Cyprus’ strategic position and the UAE’s technological leadership.

UAE’s Commitment To Global AI Cooperation

For his part, Minister Al Olama emphasized the role of international collaboration in advancing AI. He pointed out that such partnerships align with the goals of the World Governments Summit 2025, underscoring the UAE’s position as a global hub for AI innovation. He stressed that these partnerships are essential for building a sustainable future based on advanced technologies.

AI’s Potential To Transform Global Economies

AI is widely recognized for its potential to revolutionize productivity and significantly impact global GDP. According to PwC, strategic investment in AI technologies is vital to unlocking this potential. The consulting firm highlights that AI can drive labor productivity improvements and, in turn, stimulate economic growth. It predicts that by 2030, 45% of total economic gains will stem from product enhancements driven by AI, fostering consumer demand through increased product variety, personalization, and affordability.

The Future Forbes Realty Global Properties

Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

Follow THE FUTURE on LinkedIn, Facebook, Instagram, X and Telegram

IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.