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FINANCIAL NEWS
Spending on IOT to grow in Mideast at USD3.2bn
06 Oct 2016
(MENAFN) The spending on Internet of Things (IOT) will grow in the Middle East, which is predicted to hit USD3.2bn in 2019.
Accordingly, IOT spending in the region will reach 1.8bn this year and rise to USD3.2bn by 2019.
Moreover, it is also expected that the IOT-related spending to increase in the coming years, because smart cities becoming a focal point of national strategy.
In addition, there has been little investment in the GCC Fintech industry, but this is predicted to change in the coming years.
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CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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