Ripple, a leader in enterprise blockchain and crypto solutions, has received approval from the Dubai Financial Services Authority (DFSA) to provide regulated crypto payments and services within the Dubai International Financial Centre (DIFC). This significant milestone makes Ripple the first blockchain-enabled payments provider licensed by the DFSA. The approval represents Ripple’s first license in the...
Abu Dhabi-based investment firm MGX is making strides in the United States by expanding its team with key hires from prestigious firms. The company’s latest appointments include Andy Pickens, who has taken on the role of managing director and AI product lead at MGX’s New York office. Pickens was previously a managing director at Apollo...
UAE-based wellness company Longevity Wellness Hub has successfully raised US$4 million from undisclosed investors. This funding will facilitate the company’s expansion across the Gulf Cooperation Council (GCC) region. Founded in 2019 by Dani Afiouni, Longevity Wellness Hub offers a range of services, including hyperbaric oxygen therapy, red light therapy, and quantum diagnostics. The company plans...
King Fahd University Hospital (KFHU) in Alkhobar has successfully conducted a complex robotic surgery aimed at stabilizing spinal and pelvic fractures in a patient who sustained injuries from a motor vehicle accident. This significant medical achievement demonstrates the hospital’s dedication to utilizing advanced medical technologies. The Saudi Press Agency reported that the surgical team employed...
Bank Saudi Fransi (BSF) has announced a significant financing agreement worth 6 billion Saudi riyals, equivalent to $1.6 billion, with Diriyah Company for the development of the Wadi Safar destination. The announcement was made on Wednesday, with the agreement signed by Bader AlSalloom, the CEO of BSF, and Jerry Inzerillo, the Group CEO of Diriyah...
Lynk & Co has announced a partnership with Galadari Brothers to launch its innovative vehicle lineup in the UAE market. This collaboration positions Galadari Motors as the official distributor of Lynk & Co vehicles throughout the region, enhancing their existing range of mobility offerings. Lynk & Co, a premium automotive brand that is part of...
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, the Crown Prince of Dubai and Chairman of The Executive Council, has approved the allocation of land for the development of more than 17 000 housing units across Dubai. This decision was made during a meeting of The Executive Council on Wednesday. Under the Affordable Housing policy,...
Singapore’s state investment company Temasek has finalized a deal to acquire a nearly 10% stake in India’s Haldiram’s snacks business for approximately $1 billion. This significant investment marks Temasek’s continued interest in India’s consumer sector and was confirmed by two sources familiar with the transaction. The agreement was reached following several months of negotiations, and...
During Ramadan, the roads in Abu Dhabi experience increased traffic due to various factors, including drivers leaving work earlier and others hurrying to make it in time for iftar. This surge in activity necessitates heightened vigilance among motorists to ensure safety during this period. A survey conducted by Road Safety UAE highlights that male motorists...
Abu Dhabi’s MGX has made a landmark investment of $2 billion in Binance, marking the first institutional investment in the world’s largest cryptocurrency exchange. This significant move into the cryptocurrency sector comes as MGX seeks to diversify its portfolio, particularly into blockchain and related technologies. According to Bloomberg, the investment represents MGX’s inaugural entry into...