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....
Nasdaq Dubai has officially welcomed a USD 500 million Green Sukuk issued by OMNIYAT, a prominent real estate developer based in Dubai. This three-year Sukuk is set to mature on 6 May 2028 and was issued as part of a USD 1 billion Trust Certificate Issuance Programme, with a profit rate of 8.375%. The proceeds...
International Holding Company (IHC), recognized as one of the UAE’s most valuable listed companies, has teamed up with BlackRock, the world’s largest asset manager, to establish a $1 billion reinsurance company. The new entity, which is still unnamed, will be supported by over $1 billion in initial equity commitments and aims to target $10 billion...
Nasdaq Dubai and AIX CSD, the central securities depository of the Astana International Exchange, have launched a direct CSD link to enhance regional market connectivity. This initiative, announced during the Capital Market Summit 2025 hosted by Dubai Financial Market (DFM), aims to improve post-trade settlement efficiency for cross-listed securities. The Memorandum of Understanding (MoU) between...
The UAE’s Federal Tax Authority (FTA) has announced a new initiative that waives penalties for businesses that missed the corporate tax registration deadline. This decision comes as part of a UAE Cabinet Decision aimed at providing support to companies struggling to comply with tax regulations. The waiver applies to businesses that file their tax return...