Abu Dhabi's Mubadala overtakes Saudi Arabia's PIF as world's top wealth fund spender

Abu Dhabi’s Mubadala overtakes Saudi Arabia’s PIF as world’s top wealth fund spender

Mubadala and its subsidiaries deployed $29.2bln in 2024, up from $17.5bln invested in 2023. Date: January 1, 2025 DUBAI – Abu Dhabi’s Mubadala Investment Company accounted for about 20% of the almost $136.1 billion spent by sovereign wealth funds worldwide last year, overtaking Saudi Arabia’s wealth fund amid a surge in spending from Gulf countries. Mubadala […]

Al Ansari Financial Services and Halan Partner

Al Ansari Financial Services and Halan Partner to Pioneer Multiple Financing Services in the UAE

Empowering Customers with Enhanced Financial Freedom and Inclusion Dubai, UAE – December 30, 2024 – Al Ansari Financial Services PJSC (DFM: ALANSARI), one of the leading integrated financial services groups in the UAE and the parent of Al Ansari Exchange L.L.C., and Halan, the leading regional fintech company, are pleased to announce that they have […]

Dubai Islamic Bank Partners with Crypto.com

Dubai Islamic Bank Partners with Crypto.com to Pioneer Sharia-Compliant Cryptocurrency Solutions

The collaboration MoU with the UAE’s largest Islamic Bank and a globally recognized pioneer in the field of Islamic finance will explore multiple opportunities to introduce Sharia-compliant platforms including tokenized Islamic Sukuks and real-world asset tokenization. Dubai, December 30, 2024 — Crypto.com has announced the signing of a Memorandum of Understanding (MoU) with Dubai Islamic Bank […]

Alif raises $20mln Investment from Accial Capital

Alif raises $20mln Investment from Accial Capital

December 27, 2024 Alif announced it had raised a $20 mln debt investment from Accial Capital, a US-based impact private credit fund manager. The deal was facilitated with advisory support from Nairang Capital and TMT Global Advisors. The funds will be allocated to enhance Alif’s Nasiya service’s capabilities, strengthen its market position, and promote financial […]

Elon Musk xAI Raises $6 Billion in Series C Round

Elon Musk xAI Raises $6 Billion in Series C Round, Valuation Surges to $45 Billion

SAN FRANCISCO — Elon Musk’s artificial intelligence company, xAI, has secured $6 billion in a Series C financing round, bringing its total funding to $12 billion. This announcement follows a $6 billion raise earlier in May, as reported by TechCrunch on Wednesday. The latest round saw participation from prominent investors including Andreessen Horowitz, BlackRock, Fidelity, […]

GPS and Bahrain Islamic Bank Partner to Launch Sharia-Compliant Islamic Card Installments Solution

GPS and Bahrain Islamic Bank Partner to Launch Sharia-Compliant Islamic Card Installments Solution

Manama, Bahrain – December 26, 2024 – Global Payment Services (GPS), a pioneer in financial technology solutions, has announced a strategic partnership with Bahrain Islamic Bank (BisB), the Kingdom’s leading provider of innovative Islamic financial solutions. Together, they have launched an Islamic Card Installments solution aimed at revolutionizing payment options by offering customers flexible, Sharia-compliant […]

Iraq Qi and Ant International join forces

Iraq Qi and Ant International join forces to Launch SuperQi App in Iraq

Baghdad, Iraq – December 26, 2024 – Qi, a leader in Iraq’s fintech sector, has officially launched its third-generation app, SuperQi, in collaboration with Ant International. Powered by Alipay+ Wallet Tech solutions, SuperQi integrates a digital lifestyle super app with a fully functional digital bank, heralding a new era of financial inclusion and digital services […]

Russia is using Bitcoin in Foreign Trade

Russia is using Bitcoin in Foreign Trade, Finance Minister Says

Sanctions have complicated Russia’s trade with its major partners such as China or Turkey, as local banks are extremely cautious with Russia-related transactions to avoid scrutiny from Western regulators. December 25, 2024 Russian companies have begun using bitcoin and other digital currencies in international payments following legislative changes that allowed such use in order to […]

Deloitte Middle East Registration Open for the 4th edition of Technology FAST 50 Program

Deloitte Middle East Registration Open for the 4th edition of Technology FAST 50 Program

December 25, 2024 Middle East – Registration is open to take part in the fourth edition of the Deloitte Middle East Technology Fast 50 program. Technology companies across the Middle East and Cyprus are invited to submit their form for the Deloitte program, designed to recognize the fastest-growing technology companies. Window for registration expected to […]