Abu Dhabi Commercial Bank (ADCB) has announced a robust financial performance for the first nine months of 2024, reporting a 30% increase in profit before tax, reaching Dh7.702 billion. Net profit after tax stood at Dh6.846 billion, reflecting the bank’s strong strategic growth across various sectors. The bank attributed its impressive performance to strategic efforts […]
The cumulative balance of financial facilities and loans extended by banks operating in the UAE to small and medium-sized enterprises (SMEs) reached AED 81.2 billion by the end of the first half of 2024, according to the latest data released by the Central Bank of the UAE (CBUAE). This represents 9.5 percent of the total […]
Dubai, UAE – Hubpay, a leading fintech company specializing in digital solutions for foreign exchange, has announced the launch of the UAE’s first fully automated hedging platform. This cutting-edge service aims to provide small and medium-sized enterprises (SMEs) with an essential tool to manage currency fluctuations, helping them stabilize their cash flows and navigate the […]
In a strategic move to enhance digital payment solutions across the Middle East, Turkey, and Africa (META), tpay Mobile has announced a groundbreaking partnership with Geidea, a leading payment solutions provider. This collaboration aims to bring a comprehensive range of payment options to merchants, further advancing financial accessibility in the region. The partnership integrates Direct […]
October 23, 2024 – Middle East: invygo, the region’s leading car subscription platform, today announced the successful closure of an $8 million Series A extension. The funding was spearheaded by STV’s newly launched NICE Fund, which offers non-dilutive capital through an innovative equity-based structure, with participation from existing investors including Al Rajhi Partners, Arab Bank […]
Dubai, UAE: Geidea, a leading fintech company, has announced a strategic partnership with Emirates NBD, one of the UAE’s premier banks, to deliver cutting-edge financial solutions tailored to the evolving needs of businesses and consumers across the region. This collaboration combines Geidea’s global expertise in fintech innovation with Emirates NBD’s regional leadership in banking to […]
Dubai, UAE – October 22, 2024: PRYPCO, a Dubai-based property technology (PropTech) startup, has successfully raised $10 million in seed funding to drive its expansion and scale its operations. The funding round, which concluded in September, was led by Abu Dhabi’s Shorooq Partners, with strategic participation from the Dubai-headquartered retail giant, Apparel Group, along with […]
Dubai, UAE – October 2024 – In a landmark move for the sustainable fashion industry, Best Kept Shared, Dubai’s leading designer lending, rental, and resale platform, has announced its acquisition of BAZAARA, the region’s largest peer-to-peer fashion resale platform. This strategic acquisition brings together two of the UAE’s most prominent platforms, combining forces to offer […]
Dubai, 22 October 2024 – Emirates NBD, one of the leading banking groups in the Middle East, North Africa, and Türkiye (MENAT) region, has entered into a strategic agreement with Partior, a blockchain-based payment clearing and settlement platform. This collaboration positions Emirates NBD as the first regional bank to offer real-time payment settlements in UAE […]
Dubai, UAE, 22 October 2024 – MultiBank.io, the cryptocurrency exchange arm of MultiBank Group, the world’s largest financial derivatives institution headquartered in Dubai, today announced the appointment of Ryan Kim as CEO of MultiBank.io. Kim will oversee the global expansion of the exchange, focusing on scaling its derivatives-driven operations. A former Wall Street FX options trader […]