AMMAN — The Cabinet on Sunday approved a plan to develop a comprehensive legal framework to regulate virtual and digital assets, aiming to establish clear governance mechanisms for this rapidly growing sector within a year. The decision, taken during a Cabinet meeting chaired by Prime Minister JaafarHassan, aligns with the Future Technology Council’s programmes, which were initiated under Royal directives […]
UAE-based healthtech BioSapien has extended its pre-Series A funding round to $7 million, joined by new investors like Golden Gate Ventures, marking the first deployment of its dedicated MENA Fund. Founded in 2018 by Khatija Ali, BioSapien offers a flagship product, MediChip™, which is a drug delivery, 3D-printed, slow-release delivery platform attachable to any tissue […]
Dubai, UAE – 28 January 2025: Arab Financial Services (AFS), a leading provider of digital payment solutions and a prominent fintech enabler across the Middle East and Africa, announced its strategic expansion into the United Arab Emirates (UAE). This move follows the successful acquisition of a Retail Payment Services License – Category II from the Central Bank […]
In a stunning turn of events, Chinese startup DeepSeek’s latest artificial intelligence model, DeepSeek R1, has captured global attention by overtaking ChatGPT to secure the number one spot on Apple’s App Store in the United States. This remarkable achievement underscores the company’s rapid rise in the competitive AI landscape. The DeepSeek R1 model has been […]
Network International LLC (Network), a leading enabler of digital commerce across the Middle East and Africa (MEA) region, has been appointed by Emirates NBD, a leading banking group in the Middle East, North Africa, and Türkiye (MENAT) region, to enable acceptance of Jaywan cards issued by the bank at Network’s merchant terminals. Network will leverage its […]
UAE, January 27, 2025 – RetailHub, a UAE-based company specializing in AI-powered retail solutions, has announced the successful closure of a new funding round led by AngelSpark, an investment firm focused on supporting innovative startups in the region. The amount of funding remains undisclosed. RetailHub is renowned for its cutting-edge shelf analysis technologies that utilize […]
CodiPlay, a Kazakhstan-founded edtech startup, has announced the successful closure of its Series A funding round, raising $9 million at a valuation of $100 million. This milestone underscores the growing potential of Central Asian innovation and its scalability on the global stage. The funding round saw participation from prominent investors, including Global Capital from Saudi […]
DP World is collaborating with leading financial institutions and technology providers to tackle inefficiencies in cross-border payment systems that have long hindered global commerce. The company aims to address critical challenges faced by customers in emerging markets, particularly in Asia and Africa, where businesses often struggle with slow settlement times, limited access to finance, and […]
Visa has announced its investment in Nigerian FinTech company Moniepoint, aiming to drive financial inclusion, accelerate digital payments, and foster small- to medium-sized business (SMB) growth across Africa. Although the specific financial details were not disclosed, the collaboration marks a significant step in advancing digital economies on the continent. “Visa’s investment in Moniepoint is the […]
Ras Al Khaimah, United Arab Emirates – The National Bank of Ras Al Khaimah (RAKBANK) today reported its financial results for the full year and the fourth quarter of 2024 Highlights Full year 2024 Total Income AED 4.7B +7% YoY Total Assets AED 88.3B +19% YoY Deposits AED 59.6B +18% YoY Return on Equity 18.4%FY’24 Return […]