Wednesday 12 August 2020

Saudi Arabia plans global tech event to transform economy

Saudi Arabia will host a landmark event early next year aiming to boost foreign investment in the transformative Kingdom, elevate digital economy’s contribution to non-oil GDP by $13 billion, and empowering women in technology. LEAP 2021 supports the Kingdom’s Vision


Sukuk issuance to rise more than expected in H2: Moody’s

A recovery in market conditions and an increase in the gross borrowing requirements of the world's largest sukuk sovereign issuers will fuel a rise in nominal sukuk issuance this year that is greater than Moody's had expected in March, Moody's Investors Service said in a report.


Mastercard launches payment solution for SMEs

Mastercard has launched a new low-cost payments solution that enables small business owners to move their businesses online and accept a range of digital payments from their customers. The “SME-in-a-Box” solution is powered by Mastercard’s payment technology and


BoA expands commercial contact-free payments

Bank of America (BoA) has expanded its mobile wallet capabilities for corporate clients in EMEA and APAC.    The bank first launched mobile wallet in the United States and Canada in 2018, and this expansion makes it the first commercial bank issuer to offer


UAE e-commerce startup eyewa raises $2.5m

UAE-based eyewear e-commerce player eyewa has raised a pre-series B bridge round of $2.5million from Wamda Capital, EQ2 Ventures and Nuwa Capital. This is eyewa's third funding round; it comes hard-on-the-heels of a mid-2019 Series A round of $7.5million and $1.1 million in s


Slowdown, oil prices hit Bahrain govt H1 revenues

Bahrain’s ministries and government agencies have indicated a revenue of BD910 million ($2.39 billion) during the first half of the year (H1), a decrease of 29% in comparison to the same period last year, according to a new report. Due to low oil prices, oil revenue decreas


Dubai Exports shortlisted for global trade award

Dubai Exports, the export promotion agency of Dubai Economy, has been shortlisted for the World Trade Promotion Organisations Awards (WTPO Awards 2020) by the International Trade Centre (ITC), a joint agency of the World Trade Organisation and the United Nations. Dubai Exports wi


Nasdaq, DGCX sign technology agreement

Nasdaq and Dubai Gold & Commodities Exchange (DGCX) today announced an agreement under which Nasdaq to provide DGCX with a full suite of integrated marketplace solutions.   The marketplace solutions, delivered via the Nasdaq Financial Framework, include mult


Mashreq sukuk fund surpasses $150m in AUM

Dubai-based Mashreq Capital said that its Mashreq Al Islami Income Fund (Sukuk Fund) has surpassed $150 million in assets under management (AUM), and is now one of the top five largest public global Sukuk funds in the region. Mashreq Capital is the fund manager and investment man


DIFC gets record 620 applications for fintech accelerator

DIFC FinTech Hive, the first and largest financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region, has attracted an unprecedented 620 global, regional and local applications for the signature programme. The 620 applications for the intake, exceeds

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