UAE a key player in global financial sector, says NYSE vice chair

The UAE has solidified its stature as a key player in the global financial landscape by launching economic projects and initiatives that have made it an ideal partner for the New York Stock Exchange (NYSE) in exploring new markets, a senior NYSE official told Emirates News Agency. John Tuttle, vice chairman of the NYSE  , said that […]

DIFC unveils five-year innovation strategy for financial services

Dubai International Financial Centre (DIFC) and Refinitiv have revealed a five-year outlook for innovation in the financial services industry. Following the initial wave of innovation sparked during the pandemic, the global financial services industry continues to see major transformations. Tailored to the evolving preferences and expectations of customers and clients, the high demand for convenient […]

Swiss bank Lombard Odier plans expansion after getting new Dubai licence

Swiss private bank Lombard Odier plans to double its headcount in the UAE within three years after obtaining a licence to operate from Dubai’s financial centre, one of its senior executives told Reuters on Thursday. The bank, which has had a representative office in Dubai, a major regional financial hub, for 17 years and a branch in […]

BHM Capital enters into partnership with Tawasal SuperApp

BHM Capital Financial Services has entered into a strategic partnership with Tawasal SuperApp, a premier communication and lifestyle application, to grant users access to local and international financial markets. The company said that this association will provide Tawasal SuperApp users with unparalleled access to both local and international financial markets via the BHM Capital Financial […]

e& capital invests in US-based AI startup Ikigai Labs

e& capital announced that it has participated in the Series A financing round for Ikigai Labs, a pioneering firm harnessing the power of generative AI for tabular data. Through this funding round, Ikigai Labs has secured $25 million in this round, with contributions from e& capital, Premji Invest, and Foundation Capital. The funding will advance […]

FAB, Magnati unite with Geidea to boost digital payments

First Abu Dhabi Bank (FAB) and Magnati have entered into a strategic alliance with Saudi Arabia’s largest fintech company Geidea to provide digital payment acceptance services for businesses in the Kingdom.The collaboration has the potential to be transformative in the Saudi payments space and is set to create exceptional value for clients, bridging the gap […]

Dubai Islamic Bank integrates ‘alt’ service with UAE Pass

Dubai Islamic Bank (DIB) has integrated its DIB ‘alt’ services on mobile & internet banking with UAE PASS, the first secure unified national digital identity solution for the UAE. DIB ‘alt’ is full-service digital banking that enables customers to fulfill day-to-day banking needs through accessible and convenient digital channels with 135+ services available through the DIB ‘alt’ mobile, […]

e& enterprise and Tap Payments to offer unified digital payment solutions

UAE-based e& enterprise and Tap Payments have entered into a strategic partnership aimed at revolutionizing the digital payments landscape. The collaboration combines the strengths and expertise of both organizations to create an extensive payment acceptance ecosystem with unique features tailored to regional markets. The strategic alliance between e& enterprise and Tap Payments empowers businesses of […]

Dar Al Takaful incurs nearly $14.71mln accumulated losses in Q1-23

  Dar Al Takaful reported accumulated losses amounting to AED 53.70 million as of 31 March 2023. The incurred losses account for 20.60% of the paid-up capital, according to a bourse filing. In the first three months (3M) of 2023, the UAE group reported net losses worth AED 2.80 million. Meanwhile, the revenues hiked by […]

Abu Dhabi TAQA-led consortium secures $620mln funding for desalination plant

Abu Dhabi National Energy Co. (TAQA), alongside France’s ENGIE, have announced the financial closing of the 2.3 billion dirhams ($620 million) low carbon Mirfa 2 Reverse Osmosis (M2 RO) desalination project. This follows Emirates Water and Electricity Co. (EWEC) awarding the contract to develop the desalination plant to a consortium made up of TAQA, and […]