Abu Dhabi: First Abu Dhabi Bank (FAB) has achieved solid results in 2024 with Group net profit reaching AED 17.1 billion, up 4% year on year, driven by a 15% increase in revenue to AED 31.6 billion. Profit before tax grew 13% year on year to AED 19.9 billion nearing AED 20 billion, reflecting increased client […]
Yuze, a UAE-based fully digital business banking platform, is set to expand its operations to India in the second quarter of 2025. Designed to serve the needs of micro and small businesses (SMEs) and freelancers, Yuze offers comprehensive financial solutions aimed at supporting local businesses and fueling growth in India’s fast-evolving economy. India’s SME sector, […]
DOHA: Rasmal Ventures LLC, Qatar’s first independent venture capital (VC) company, has announced funding from Qatar Investment Authority (QIA) as part of its Fund of Funds program. The funding is received into Rasmal Venture’s inaugural, home-grown venture capital fund, Rasmal Innovation Fund I LLC which targets high-performance startups and scales up across a variety of […]
TerraPay, a global money movement company, has joined forces with Dubai Duty Free (DDF), the world’s largest single airport retailer, to revolutionize the shopping experience for over 100 million customers. This strategic partnership enables travellers to make purchases using their home-country digital wallets, driving a new era of convenience and accessibility in payment solutions. Through […]
Kuwait: Kuwait Credit Information Network Company (CINET) launched the credit information exchange with the Bahrain Credit Reference Bureau, operated by the BENEFIT Company, to facilitate commercial credit inquiries between Kuwait and Bahrain. This step comes in line with the GCC Supreme Council decision approving the exchange of credit information between GCC member states. The agreement was […]
Abu Dhabi – Smpl Fund I, a $10 million venture capital fund launched by Smpl Holdings, has announced a strategic investment of $250,000 in multiple AI and technology companies within the Qora71 portfolio. Smpl Fund I, which focuses on supporting AI and tech startups across the MENA region and beyond, provides seed capital alongside hands-on strategic support […]
Dubai, UAE: The Dubai Financial Services Authority (DFSA) today announced the release of its Business Plan for 2025-2026, Advancing Regulatory Excellence and Innovation within the Dubai International Financial Centre. Aligned with Dubai’s Economic Agenda D33, Digital Dubai, and the DIFC 2030 Strategy, the Plan sets out the DFSA’s vision to reinforce the Dubai International Financial Centre (DIFC) as a […]
UAE-based qeen.ai, a leading provider of agentic AI solutions for e-commerce, announces it has raised $10 million in funding—one of the largest seed investments in the MENA region to date. The funding was led by Prosus Ventures, with participation from existing investors including Wamda Capital, 10x Founders and Dara Holdings. This brings qeen.ai’s total funding […]
Dubai, UAE – Mastercard has joined forces with Payrails, a payment technology company, to accelerate digital payment transformation and foster innovation tailored to the needs of large enterprises. Through this partnership, the two companies aim to provide efficient payment solutions that enable global businesses to streamline complex transactions, boost flexibility, and optimize financial operations. Combining Payrails’ […]
Abu Dhabi, UAE – Arcapita Group Holdings Limited (“Arcapita”), a global leader in alternative investments, announces its license to operate from ADGM and the opening its new office in Abu Dhabi. The launch of Arcapita Investment Management Limited is part of Arcapita’s strategic expansion in the region. Stéphane Brown, Group COO, has been appointed as Senior […]