Hubpay, a cross-border payments platform, has partnered with Aquanow to launch the UAE’s first fully regulated crypto payments facility designed specifically for businesses and SMEs. This innovative collaboration enables various sectors, including real estate, manufacturing, and general trading, to accept cryptocurrency payments securely alongside traditional fiat transactions. Aquanow ME FZE is regulated by Dubai’s Virtual...
Merger and acquisition activities in the Middle East and North Africa (MENA) saw a 7% increase in 2024, reaching a total deal value of $92.3 billion, largely fueled by the contributions of Saudi Arabia and the UAE. According to a report by professional services network EY, the region recorded 701 deals, which is a 3%...
Cryptocurrency exchange Bybit is on the verge of obtaining a full operational license in the United Arab Emirates after recently experiencing a significant hack that resulted in a loss of $1.4 billion. The exchange announced that it received in-principle approval from the Securities and Commodities Authority (SCA) to operate as a virtual asset platform within...
Lockheed Martin has been awarded a contract modification worth $211.7 million by the Missile Defense Agency (MDA) to provide maintenance and sustainment services for two Terminal High Altitude Area Defense (THAAD) batteries located in the United Arab Emirates. This contract was announced by the Department of Defense, which noted that the requirement was solicited exclusively...
Red Sea Global (RSG) and daa International, the operator of The Red Sea International Airport (RSI), have signed an agreement with Arabian Petroleum Supply Company (APSCO) to introduce Sustainable Aviation Fuel (SAF) at the airport. This initiative aims to promote sustainability in aviation by utilizing SAF and Lower-Carbon Aviation Fuel (LCAF), which are specifically developed...
ADNOC has signed a long-term Sales and Purchase Agreement with Osaka Gas, a major Japanese utility company. This agreement, which covers the supply of up to 0.8 million tonnes per annum (mtpa) of liquefied natural gas (LNG) from ADNOC’s Ruwais LNG project, will last for 15 years. It marks the first long-term LNG sales agreement...
Aamal Company Q.P.S.C., a leading diversified company in the region, has announced a new MoU with Huawei, a prominent global provider of information and communications technology (ICT) infrastructure and smart devices. This agreement was signed during the Web Summit recently held in Doha. The partnership focuses on enhancing collaboration by integrating Aamal Information Technology into...
The Roads and Transport Authority (RTA) in Dubai has released the operating hours for its various services during Ramadan. This announcement includes the schedules for the Metro, Tram, paid parking zones, public buses, marine transport, and Customer Happiness Centres. Accoding to Gulf news, the Dubai Metro will operate its Red and Green line stations from...
Aani, the instant payments platform launched by the Central Bank of the UAE, has successfully enrolled 1.5 million users since its inception. This significant milestone reflects the Emirates’ ongoing efforts to enhance financial inclusion and modernize its payment systems. The platform has also partnered with 57 financial institutions and onboarded approximately 80,000 merchants, further expanding...
The Future 100 initiative, a collaboration between the Ministry of Economy and the Office of Government Development and the Future, has unveiled the Future 100 – 2024 list. This list highlights 100 of the most promising startups and scaleups based in the UAE that significantly contribute to the competitiveness of the country’s future economy. The...