Category: MENA

HONG KONG SAR – Media OutReach Newswire – 26 February 2025 – Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region unveiled his 2025-26 Budget today (February 26). He noted that while geopolitical situation might bring risks, technology reform and artificial intelligence (AI) development are remoulding the global landscape, leading to the emergence of new industries, new forms of business, new products and new services. He stressed that Hong Kong must seize the opportunity to make the most out of this critical window to speed up development, establishing the new before abolishing the old. He also emphasised that transformation and innovation will lead the way into the future, and the Government is poised to fast-track the high-quality development of Hong Kong’s economy.

The Budget presents a series of measures aimed at accelerating the cultivation of new quality productive forces. On innovation and technology (I&T), the Government will promote Hong Kong into an international exchange and co-operation hub for the AI industry. Through frontier research and real-world application, the Government will endeavour to develop AI as a core industry and empower traditional industries in their upgrading and transformation. To spearhead and support Hong Kong’s innovative research and development as well as industrial application of AI, the Government will establish the Hong Kong AI Research and Development Institute and launch the Pilot Manufacturing and Production Line Upgrade Support Scheme (Manufacturing+). On finance, the Government will continue to take forward reforms to the listing regime, host the Hong Kong Global Financial and Industry Summit, and formulate a plan this year on promoting gold market development.

Hong Kong SAR’s Financial Secretary Paul Chan delivers the 2025-26 Budget in the Legislative Council.

To seize the opportunities brought about by the rapid advancement of innovation and technology, the Budget highlights the need to accelerate the development of the Northern Metropolis, which is an investment in Hong Kong’s future. The Government will continue to accord priority to providing resources for this initiative, which primarily includes providing large tracts of I&T land at the Hong Kong Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Co-operation Zone, together with San Tin Technopole; adopting an innovative mindset in piloting “large-scale land disposal”; developing a data facility cluster at Sandy Ridge; as well as identifying suitable sites in the Northern Metropolis for the construction of conference and exhibition facilities.

On the promotion of tourism, funding will be allocated to pursue the concept of “tourism is everywhere” and implement the Development Blueprint for Hong Kong’s Tourism Industry 2.0. A study will be conducted on the development of the waterfront and former sites to the south of the Hung Hom Station in Kowloon into a new harbourfront landmark in Kowloon, including a yacht club.

Regarding land supply, Mr Chan announced that the Government will not roll out any commercial site for sale in the coming year in view of the high vacancy rates of offices in recent years to allow the market to absorb the existing supply. The Government will also consider rezoning some of the commercial sites into residential use and allowing greater flexibility of land use.

The Budget presents a series of measures aimed at accelerating the cultivation of new quality productive forces.

Mr Chan proposed a reinforced version of the fiscal consolidation programme to focus on strictly controlling government expenditure, supplemented by increasing revenue, to restore fiscal balance in the Operating Account, in a planned and progressive manner, within the current term of the Government. The Government will also deliver more efficient public services to citizens through leveraging technology, streamlining processes and driving the digital transformation of public services. Mr Chan said he will uphold the “user pays” and the “affordable users pay” principles as far as practicable while increasing revenue, including increasing the air passenger departure tax, and reviewing the tolls of government tunnels and trunk roads. The Government will suitably expand the size of bond issuance on the premise of maintaining healthy public finances and use the funds raised on infrastructure works in a proper and flexible manner to invest in Hong Kong’s future and create value for society.

More information about the 2025-26 Budget is available from www.budget.gov.hk.

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RIYADH, SAUDI ARABIA – Media OutReach Newswire – 26 February 2025 – In a significant move to advance financial literacy and empower employees with smarter financial solutions, Sahm Capital, a fintech-driven financial firm fully licensed by the Capital Market Authority (CMA) [License No. 22251-25], has signed a Memorandum of Understanding (MOU) with Eddekhar, a pioneering B2B digital savings platform. The partnership was formalized at CMF Riyadh 2025, a premier global financial forum that connects leading financial markets worldwide.

Sahm Capital and Eddekhar Forge Strategic Partnership to Elevate Financial Literacy and Investment Solutions at CMF Riyadh 2025

This collaboration seamlessly integrates Sahm Capital’s expertise in financial markets with Eddekhar’s innovative savings solutions, creating a comprehensive financial wellness ecosystem for employees. The initiative aims to instill sustainable savings habits and strategic investment awareness, enabling employees to build long-term financial security.

“At Sahm Capital, we believe that financial empowerment begins with education,” said Steven Chou, Chairman of Sahm Capital. “Through this partnership, Eddekhar simplifies the savings process, while Sahm Capital provides the investment solutions needed to grow and secure those savings for the future.”

Under this MOU, employees will have access to investment solutions tailored to their risk tolerance, along with tools to cultivate sustainable savings habits. Both companies share a common mission to enhance financial literacy and equip employees with the resources needed to achieve long-term financial security and wealth growth.

“Financial literacy is the cornerstone of long-term wealth building,” said Adnan Alkhiary, Founder & CEO of Eddekhar. “By joining forces with Sahm Capital, we are enabling employees to move beyond just saving—empowering them with the tools, knowledge, and access to investment opportunities that drive financial growth.”

Together, Sahm Capital and Eddekhar are redefining financial well-being, equipping employees with the knowledge and resources they need to achieve long-term financial stability, security, and prosperity.

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About Sahm Capital

Sahm Capital, registered in Riyadh, holds full regulatory licenses from the Capital Market Authority (CMA) to provide Dealing, Advising, Custody, Arranging, and Managing Investments and Operating Funds Activities in the Securities Business services (license no. 22251-25). As the first fintech-driven financial company to achieve full CMA licensing, Sahm Capital has established itself as the fastest-growing member of the Saudi Exchange, leveraging proprietary technology and innovative financial solutions to deliver seamless, one-stop financial services. For more information, visit: www.sahmcapital.com.

About Eddekhar

Eddekhar is a B2B digital savings platform that helps employees automatically set aside a portion of their salaries into dedicated savings accounts. By partnering with companies, we integrate directly with payroll systems making saving effortless and secure for employees.

We offer tailored investment options based on individual risk tolerance. This allows employees to grow their savings through carefully selected investment opportunities. Ensuring long-term financial stability and wealth-building. For more information, visit: https://www.eddekhar.com/en/.