Qatar has announced a significant $1.2 trillion economic pledge during a recent visit from former U.S. President Donald Trump, marking a strategic move in the realm of international finance. This announcement was made in Doha, where the two parties finalized several key agreements, including a remarkable $96 billion plan by Qatar Airways to acquire up...
Dubai has announced its ambitious plan to transition into a cashless city, where all payments across both government and private sectors will be made digitally. This significant initiative was revealed during a meeting of The Executive Council of Dubai, chaired by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, on Tuesday, October 1. A key...
Construction has officially started on Pure Ice Cream’s new AED 80 million production facility located at Dubai Industrial City. This facility is part of TECOM Group PJSC and represents a significant investment in the region’s manufacturing and logistics hub. The groundbreaking ceremony was attended by key figures, including Mohammed Shael Al Saadi, CEO of the...
Abu Dhabi, UAE: The Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market (ADGM) and the Securities and Futures Commission (SFC) of Hong Kong have signed a Memorandum of Understanding (MoU) aimed at enhancing regulatory cooperation in overseeing investment managers for collective investment schemes based in both regions. The MoU was officially signed...
Astra Tech, a consumer technology holding group based in the UAE, has officially launched the ‘Send Now, Pay Later’ (SNPL) feature within its Botim Ultra App. This new feature allows users to remit up to AED 5 000 instantly to over 200 countries, with the option to repay the amount over six months. The SNPL...
WakeCap, a platform specializing in sensor-powered project intelligence for the construction and oil and gas sectors, has successfully closed a US$28 million Series A funding round. This funding was led by UP.Partners, with additional participation from Graphene Ventures and various strategic investors from the United States, Saudi Arabia, and Asia. The company aims to revolutionize...
His Highness Sheikh Ahmed bin Saeed Al Maktoum, who serves as the President of Dubai Civil Aviation Authority, Chairman of Dubai Airports, and Chairman and Chief Executive of Emirates Airline and Group, recently met with Timothy Adams, the President and CEO of the Institute of International Finance (IIF). This meeting took place on the sidelines...
Hassana Investment Company has signed a Memorandum of Understanding (MoU) with Franklin Templeton, amounting to $150 million, aimed at boosting the private credit market in Saudi Arabia. This agreement is particularly significant as it seeks to expand access to alternative financing for mid-sized companies, which constitute almost half of the country’s employment yet receive less...
Investcorp Capital plc, an investor in private markets and alternative investment opportunities, announced a net profit of $41 million for the first three quarters of its fiscal year 2025, which ended on March 31, 2025. This profit includes a Q3 2025 net profit of $13 million and reflects a year-to-date (YTD) achievement of $71 million...
NymCard, a leading embedded finance platform in the MENA region, has officially secured a license from the Central Bank of the UAE to provide Open Finance services. This achievement positions NymCard as one of the first entities in the UAE to integrate regulated payment functionality into a comprehensive financial infrastructure through a single modular platform....