Zest Equity, a fintech company based in the United Arab Emirates, has successfully secured $4.3 million in pre-series A funding. This funding round was led by Prosus Ventures, with additional participation from Morgan Stanley Inclusive and Sustainable Ventures (MSISV). Founded in 2021 by Rawan Baddour and Zuhair Shamma, Zest Equity operates a platform that facilitates...
Qatar Tourism and the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) have announced a strategic partnership aimed at enhancing regional tourism through a new twin-city holiday offering. This initiative allows travelers to easily combine visits to Doha and Abu Dhabi into a single itinerary, facilitating exploration of both destinations in one...
Dubai International Financial Centre (DIFC) Authority announced a significant 35 percent increase in gross written premiums, rising from USD 2.6 billion to USD 3.5 billion in 2024. This announcement was made by Alya AlZarouni, the Chief Operating Officer at DIFC, during the largest ever gathering of insurance and reinsurance professionals at the Dubai World Insurance...
First Abu Dhabi Bank (FAB), the largest lender in the UAE by assets, has joined forces with the UAE sovereign wealth fund ADQ and holding company IHC to introduce a new dirham-backed stablecoin. This digital currency is intended for use by consumers, businesses, and institutions, pending regulatory approvals. The stablecoin will be issued by FAB...
Abu Dhabi’s Integrated Transport Centre, known as Abu Dhabi Mobility, has expanded its Autonomous RoboTaxi service trials in collaboration with Autogo, a company that specializes in autonomous mobility solutions and is a subsidiary of Kintsugi Holding. This initiative is part of a strategic partnership with Apollo Go, a subsidiary of Baidu, a global leader in...
Card transactions in the United Arab Emirates are projected to reach AED565.5 billion, equivalent to $154 billion, in 2025, according to research conducted by GlobalData. This projection reflects a significant growth trend, with card payment values having risen by 13 percent year-on-year to AED511 billion last year. The increasing preference among consumers for digital transactions,...
Animoca Brands, a venture capital and software company known for its investment in the popular game Axie Infinity, is set to launch funds specifically aimed at supporting start-ups in the United Arab Emirates (UAE). This initiative marks the company’s entry into the Middle East market, where it plans to establish its first regional office in...
flydubai has announced an expanded summer flight schedule that will include 11 popular destinations, featuring two new cities for the airline. The Dubai-based carrier will kick off its summer programme earlier than usual to accommodate the upcoming Eid Al Adha holiday, starting flights on Wednesday, June 4. Among the new destinations are Al Alamein in...
UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan met with Australian Governor-General Sam Mostyn AC in Abu Dhabi to discuss enhancing bilateral relations. This meeting comes as both countries reaffirm their commitment to deepening cooperation, particularly since the signing of the Comprehensive Economic Partnership Agreement (CEPA) last year. During the discussions held at...
The Department of Culture and Tourism – Abu Dhabi has announced the launch of an emirate-wide face recognition system designed for hotels. This advanced security measure aims to enhance safety and streamline guest experiences across the hospitality sector in Abu Dhabi. The initiative will be executed through the department’s Licensing & Regulatory Compliance Department. Hotels...