Tech News

Budget: Accelerating Development through Reform and Innovation

Published

1 year ago

February 26, 2025

The Financial Secretary, Mr Paul Chan, unveiled today his 2025-26 Budget. 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.

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 into a new harbourfront landmark, 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. To tie in with the relevant work, the deadline for completing in-situ land exchange for commercial sites in the town centre of the Hung Shui Kiu/Ha Tsuen New Development Area will be extended.

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. For 2025-26, the executive authorities, the legislature, the judiciary and members of the District Councils, including members of the civil service, take a pay freeze. The Government will step up the Productivity Enhancement Programme; compared with 2023-24, the recurrent expenditure in 2027-28 will record a cumulative reduction by 7 per cent and deliver a saving of $27.3 billion. By April 2027, about 10 000 posts of the civil service establishment are expected to be deleted within this term of 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. In the Budget, it is proposed to adjust two transport subsidy schemes, namely putting forward the “$2 flat rate cum 80 per cent discount” in the Government Public Transport Fare Concession Scheme for the Elderly and Eligible Persons with Disabilities ($2 Scheme), and raising the threshold for receiving the subsidy under the Public Transport Fare Subsidy Scheme from $400 to $500, with the prevailing subsidy cap at $400 per month remaining unchanged. 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.

Mr Chan concluded that he has full confidence in and high expectations for the future of Hong Kong, because Hong Kong people are intelligent, creative and tireless in contributing to the economic development. More importantly, he is confident due to the staunch and unwavering support received from the country and Hong Kong people’s profound insight into the major development trends of the future, as well as the city’s enviable and advantageous position.

Tech News

Snowflake powers KSA’s Zahid Group’s data and AI transformation to unlock enterprise value

Published

2 days ago

August 12, 2026

Integrator Web-Editor

Zahid Group, one of Saudi Arabia’s leading diversified business groups spanning heavy equipment, energy, transport and manufacturing, and others, has selected Snowflake, the AI Data Cloud company, as the strategic foundation for its enterprise data and AI transformation, giving the Group a scalable way to strengthen governance, advance AI adoption, and elevate customer experiences enterprise-wide. The relationship was formalized during a signing ceremony at Zahid Business Park in Jeddah, launching a multi-year investment that will strengthen productivity and support technology-led growth in line with Saudi Vision 2030.

With Snowflake, Zahid Group’s Digital Solutions Division is unifying data from across its business streams and departments on a governed, secure, centralized and scalable lakehouse platform. A modern business intelligence ecosystem will give leaders faster access to information, enabling them to spend less time reconciling reports and more time acting on insights. The next phase will use Snowflake Cortex AI to enable employees to engage with data through natural language, reducing reliance on traditional reporting and shortening the path from question to decision.

Snowflake’s adoption at Zahid Group comes as Saudi Arabia accelerates its goal of becoming the Middle East’s leading AI infrastructure and technology hub. The Council of Ministers has designated 2026 as the Year of AI, and PwC estimates that AI could contribute around 12.4% of the country’s GDP by 2030.

Before adopting Snowflake, Zahid Group’s data was dispersed across multiple systems, requiring extensive manual consolidation and resulting in reporting inconsistencies that slowed decision-making. As an early proof of value, the Caterpillar Helios initiative demonstrated the power of secure, real-time data sharing through Snowflake. Building on this foundation, Zahid Group is now extending Snowflake’s capabilities across its digital ecosystem, enabling real-time data streaming and integration with core platforms such as Infor and Salesforce.

This connected architecture has standardized critical reporting processes, reducing month-end reporting cycles from days to hours, and in many cases minutes. By eliminating manual effort and improving data consistency, it provides leaders with timely, trusted insights that support faster decision-making and strengthen a culture of data-driven innovation.

Suzan Sadek, Group IT Manager, Zahid Group, said: “Data is one of the most valuable assets of the digital economy. By choosing Snowflake, we are building a trusted and scalable data foundation that enables AI-driven innovation, faster decision-making, and improved customer experience. This transformation strengthens Zahid Group’s competitiveness, while supporting Saudi Arabia’s Vision 2030 ambition to create a data-driven economy.”

Michel Nader, General Manager for the Middle East, Turkey & Africa, Snowflake, said: “Zahid Group is demonstrating how trusted data can become the foundation for enterprise AI at scale. Snowflake brings information closer to customers while providing leading AI capabilities to enable digital transformation across Zahid’s operating environment. We are proud to support the company’s next phase too, where employees can access trusted insights faster and strengthen the Group’s ability to create lasting and scalable value across its businesses.”

Looking ahead, Zahid Group will expand Snowflake’s platform’s role across the Group, extending governed data products, advanced analytics and AI capabilities into more business functions to deliver measurable value for customers, partners and employees.

Tech News

PNY Technologies Joins LEAP 2026 with the Latest AI Technologies – Riyadh, Saudi Arabia | 31 August to 3 September | Booth H3-D10

Published

3 days ago

August 11, 2026

Integrator Web-Editor

PNY Technologies announces its participation in LEAP 2026, taking place in Riyadh from 31 August to 3 September, where it will present its latest AI infrastructure and accelerated computing solutions.

The showcase will feature the technologies behind PNY’s AI infrastructure portfolio, from the AI Enterprise Factory to the latest NVIDIA RTX PRO and GeForce graphics solutions, together with networking and infrastructure technologies.

Visitors will also be able to explore the PNY AI Factory Digital Twin Configurator, which allows users to design and configure their own AI factory using digital twins and NVIDIA Omniverse.

PNY will also host live demonstrations developed in collaboration with its technology partners, including SOMOD, DDN, INFINIARC, VERTIV, and F5.

The company’s participation in LEAP 2026 reflects its continued commitment to supporting AI innovation across the Middle East and helping shape the technologies powering the region’s digital transformation.

The PNY team, including regional representatives, will be on-site throughout LEAP 2026 to meet with visitors, partners, and members of the media at Hall H3, Booth D10. Attendees wishing to arrange a briefing or interview are welcome to submit a request below.

Contact request: https://forms.pny.eu/pny-at-leap-2026/

Press contact: sverdier@pny.com / mhamdouche@pny.com

Tech News

Globant Introduces Glob.AI, Reinventing Technology Services for the AI Era

Published

3 days ago

August 11, 2026

Integrator Web-Editor

Globant (NYSE: GLOB), a global company focused on driving enterprise reinvention through AI, today introduces Glob.AI, a new AI-native tech services model that fundamentally changes how enterprises access, purchase and deploy AI services. Available online through a self-service model, Glob.AI gives organizations access to enterprise-grade, high quality AI Pods (service units run by a set of AI agents and supervised by humans). Companies are charged for what they produce -per output or per consumption- never per seat or per hour.

“For over 20 years, Globant has stayed ahead of every major technology shift, and AI is no different. Glob.AI is our next step: the one-stop shop where our AI Pods live, each specialized by task and industry. Traditional AI adoption drives token consumption far beyond what efficient output requires, and the real cost is the wasted tokens plus the unstructured, manual supervision of AI. AI Pods introduce a smarter model, running the right AI through parallel agents, loops, workflows, and deterministic processes, representing the true state of the art of what AI can deliver today,” said Martín Migoya, CEO and co-founder of Globant.

Glob.AI brings together AI-native velocity with Globant’s 23 years of enterprise delivery baked into the governance layer. AI agents do the heavy lifting, with Globant’s experts supervising their outputs and guiding every step. Glob.AI works to standards–documented, tested, secure, built for enterprise scale. It’s the speed AI promises, with the rigor and quality that businesses need, by including:

Well-defined, deterministic, and repeatable processes, supervised end to end by experts
Optimized AI usage and transparent pricing: customers pay strictly for expert-validated outputs and/or real consumption — not hours, seats, AI hallucinations, retries, or wasted cycles.
At least 30% more productive than the typical engineer-plus-AI approach
Full AI sovereignty and governance: total flexibility over which models customers use and where they run them, with zero client data ever used to train external models.
Token consumption secured in a client’s proprietary Token Vault, providing full traceability and compounding a client’s institutional knowledge over time.

“AI is not just making the same projects faster, it is making thousands of projects viable that never were before,” said Guibert Englebienne, co-founder of Globant. “Until today, enterprises could not buy technology services this way: instantly, transparently, paying only for results. That is the shift Glob.AI delivers, and the strong demand for AI Pods shows enterprises are ready for it.”

Organizations joining the waiting list at Glob.AI will gain early access to a comprehensive catalog of agentic workflows capable of building and deploying solutions for enterprise platforms and specialized industry use cases. The AI Pods in the offering also include partnerships with major organizations including Anthropic, AWS, Vercel, OpenAI, Adobe, Azure, Google Cloud Platform, SAP and Salesforce.

Traditional enterprise tech services require months of discovery, RFPs, and procurement cycles before the work begins. Glob.AI changes that model entirely. Users can log in and immediately start building enterprise grade software. Tech delivery becomes a live, continuous service rather than a fixed-term project — every improvement and release happening on the platform, fully visible to the client, in real time.

Globant released AI Pods in mid-2025, and they are already in use by several Fortune 500 organizations across media, entertainment, professional services, and finance, delivering early results that include:

FIFA experiencing a 20% efficiency increase in throughput generation while maintaining or improving quality rates
LALIGA deploying AI across key functions in three months
YPF reducing contract timelines by up to 40%
PharmaMar achieving 15x faster insights in oncology research
A leading commercial bank completing a COBOL migration in 2 months versus 14 as projected with a traditional approach