Friday 10 July 2020

Global eTrade initiative gains more support

The eTrade for all initiative, which aims to make the digital economy more inclusive  has welcomed the Commonwealth Secretariat and the International Labour Organization (ILO) to its fold, increasing its membership to 32 organizations. The partnership, marking its fourth ann


DMCC extends business support package

Dubai-headquartered DMCC, the world’s most interconnected Free Zone, and the leading trade and enterprise hub for commodities, has expanded and extended its ‘Business Support Package’ which will run until August 31. The announcement follows the positive market r


Fintech Galaxy launches open innovation platform

UAE-based Fintech Galaxy, a cross-border fintech marketplace, has launched its cloud-based open Innovation platform to drive collaboration, fuel innovation, and facilitate integration between financial and fintech companies. The platformFinX22, which is now live, is hosted on a w


ADIB raises foreign ownership to 40%

Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has announced raising the percentage of foreign ownership to 40%, from 25%, of its issued capital effective from July 6.   The announcement came after obtaining the necessary regulatory approvals fr


Amlak completes IPO; retail coverage at 26.9 times

The IPO of Saudi Arabia-based Amlak International for Real Estate Finance's shares was completed on Sunday (July 5) after finalising the retail subscription tranche with coverage by individuals at 26.9 times ratio, said NCB Capital, financial advisor, lead manager, bookrunner, and un


Bank Nizwa CEO among top 50 Islamic economy leaders

Bank Nizwa Chief Executive Officer, Khalid Al Kayed, was named among the ‘Top 50 Leaders of the Islamic Economy’ on the ISLAMICA 500 Guide, an annual publication of ISFIN, the world’s leading advisory firm for emerging markets.    The ISLA


Bahrain’s Al Waha invests in UAE venture capital firm

Bahrain’s Al Waha, which seeks to invest in venture capital funds, has become one of the first Fund of Funds to make a substantial investment in the Bedaya Fund I of UAE-based seed-stage venture capital firm Shorooq Partners. Shorooq Partners, which has supported 23 firms i


Emirates Islamic named ‘Islamic Bank of the Year – UAE 2020’

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has announced that it has been awarded the prestigious ‘Islamic Bank of the Year – UAE 2020’ award by the globally renowned Financial Times’ monthly publication, The Banker. &n


Fincasa announces global online investment summit

Fincasa Ventures, a UAE-based venture capital and advisor to Multi-Royal-Family Fund Houses, has announced an Investment summit with the objective to syndicate $1 billion investment in potential companies and start-ups   This will be done during and post Covid-1


UAE issues 1,036 new e-commerce licences in H1

A total of 1,036 new e-commerce licences were issued in the UAE during the first six months of 2020, reported state-run news agency Wam, citing statistics from the National Economic Registry of the Ministry of Economy. The statistics showed that the number of e-commerce

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