Business Finance

Safety AI startup viAct secures US$7.3m in Series A funding round

News Desk 16/04/2025 0

To expand in MENA and Europe viAct, an impact-driven artificial intelligence startup transforming safety in high-risk industries, has raised US$7.3 million in a Series A funding round. The investment was led by Dublin-based Venturewave Capital, with support from Singtel Innov8, Korea Investment

Business Finance

EU approves revised regulations to screen foreign investments

Arnold Pinto 09/04/2025 0

To enhance security The International Trade Committee of the European Parliament has approved new, revised rules for screening foreign investments within the European Union (EU). Approved on April 8, 2025, the updated regulations are designed to protect EU security and public order by expanding the sectors subject to mandatory screening and harmonising national screening

Blockchain & Cryptocurrency Finance UAE

UAE tops global crypto rankings with unmatched adoption rates

News Desk 01/04/2025 0

According to Atmos study The United Arab Emirates (UAE) has claimed the top spot in the global rankings for cryptocurrency adoption, with 25.3% of its population owning digital currencies. This places the UAE at the forefront of the global crypto-obsession movement, scoring 98.4 on a scale developed by Atmos. The Dubai-based company analyses crypto adoption, […]

Finance Interviews

IMA-DIFC partnership to boost finance professionals in the Middle East

Arnold Pinto 12/12/2024 0

Via several focused initiatives Headquartered in Montvale, New Jersey, United States, the Institute of Management Accountants (IMA) is a prominent global nonprofit organisation dedicated to advancing the skills of accounting and finance professionals worldwide. With 130,000+ members across 150 countries and 350 chapters, IMA provides resources such as certification

Finance

AI is seen playing a growing role in the accounting sector

News Desk 10/12/2024 0

Per a Deloitte-IMA survey A new global survey from Deloitte’s Centre for Controllership and the Institute of Management Accountants (IMA) has underscored the increasing importance of artificial intelligence (AI) in shaping the future of the controllership function among financial professionals. The survey found that the use of AI in the controllership role is expected to

Finance

KYC/KYB spend to hit $22bn globally by 2029

Arnold Pinto 02/12/2024 0

From $9.2bn in 2024 A new study from Juniper Research reveals that non-financial businesses’ global spend on Know Your Customer (KYC) and Know Your Business (KYB) systems will surge by 140% over the next five years. From an estimated $9.2 billion in 2024, this figure is projected to climb to $22 billion by 2029. This […]

Finance Logistics

Locad raises $9 million for its smart digital logistics engine

Arnold Pinto 24/11/2024 0

UAE and Saudi Arabia entry in Q4 2024 Singapore-based Locad, a leading smart digital logistics engine powering consumer brands with its Cloud Supply Chain-As-a-Service (SCaaS) for global distribution, has announced a $9 million Pre-Series B funding round. The round was co-led by Global Ventures and existing investor Reefknot Investments, with additional participation from

Finance

Dubai panel: Financially empowered future is key for women

Arnold Pinto 28/08/2024 0

Financial literacy and independence seen vital A distinguished all-women panel gathered in Dubai, United Arab Emirates, on August 26, 2024, to discuss critical issues surrounding financial literacy and empowerment for women in the Middle East. Organised by APM Capital Limited, a leading financial brokerage company based in Abu Dhabi, the event’s panellists featured experts

Finance

EQT sets target for BPEA IX at $12.5 billion

Arnold Pinto 15/08/2024 0

Ambitious aim for private equity fund Stockholm, Sweden-based EQT has announced its target fund size for EQT Private Capital Asia’s BPEA Private Equity Fund IX (BPEA IX) at $12.5 billion. The final size of the fund will be determined based on the outcomes of the fundraising process and could exceed or fall short of the […]

Blockchain & Cryptocurrency Finance

Ras Al Khaimah’s Web3 initiative gets $100-million investment pledge

News Desk 12/07/2024 0

Phoenix Group and IOPn step up RAK Digital Assets Oasis (RAK DAO), the world’s first purpose-built free zone for digital and virtual assets companies, has signed a strategic partnership with Phoenix Group and Internet of People (IOPn) to turn Ras Al Khaimah emirate into a global hub for Web3 innovation by attracting top-tier talent and […]

Business Finance

UAE appeals to deVere Group’s financial services graduates

News Desk 08/07/2024 0

New Zealand and Italy also favoured Dubai-based deVere Group, a prominent player in global financial advisory services, has revealed that the top three international destinations for its financial graduates in the first half of 2024 are the United Arab Emirates (UAE), New Zealand, and Italy. The designation underscores a trend towards these three countries as […]

Banking Finance GCC UAE

How To Choose The Best Business Bank In UAE

News Desk 26/05/2024 0

Getting It Right Is A Game-Changer Choosing the right banking partner in the United Arab Emirates (UAE) is a fundamental decision that can significantly impact financial management and a business’s overall performance. Considered the commercial hub of the Middle East, where entrepreneurship thrives amid innovation and economic growth, the UAE has arguably one of the

Corporate Finance

Cognizant Reports Revenue Of $4.76 Billion For Q1 2024

Arnold Pinto 18/05/2024 0

Financial Results Exceed Expectations Cognizant’s first quarter 2024 financial results, unveiled earlier this month, exceeded expectations and showcased resilience in the face of evolving market conditions. In the first quarter of 2024, Teaneck, New Jersey-headquartered Cognizant, reported a revenue of $4.76 billion, slightly lower than the $4.81 billion recorded in the

Banking Finance UAE

All About The Best Cash-Back Credit Cards In The UAE

Dan Ngiam 17/04/2024 0

Learn About The Key Features And More Cash-back credit cards can be particularly appealing to consumers in the UAE because they offer a straightforward way to save money on daily expenses. Moreover, consumers can enjoy the excitement of flexibility in redeeming and using their earnings, making them even more appealing. Driven by significant market size, […]

Corporate Finance

NVIDIA Surpasses $1 Trillion Stock Value Surge In Q1 2024

PR News Desk 12/04/2024 0

Outpaces Entire 2023 Growth By 15% NVIDIA, the US-based chipmaker, continues its meteoric rise in the stock market, setting new records after closing 2023 as the top performer in the S&P 500 index with a remarkable gain of 236%. Bolstered by stellar Q4 results, the tech giant has surged by over $400 billion in stock […]

Corporate Finance

Scrut Automation Secures $10 Million In Growth Capital

PR News Desk 09/04/2024 0

Key Boost For Company’s Growth Initiatives Scrut Automation, a pioneering Governance, Risk, and Compliance (GRC) platform, has announced a significant milestone with the completion of a $10 million growth capital raise from strategic investors Lightspeed, MassMutual Ventures, and Endiya Partners. This funding round, a testament to these leading investors’

Banking Finance

Saxo Bank announces $111 million net profit in 2023

PR News Desk 12/03/2024 0

Bank registers $136 billion in client assets Saxo Bank Group, a leading financial institution, has revealed its 2023 financial performance, reporting an adjusted net profit of $111 million, down from $121 million in 2022. Despite challenges like a $53 million software write-down and a $16 million impact from the Saxo Geely Tech Holding divestment, the […]

Business Finance

AML systems expenditure seen at $65bn globally by 2028

PR News Desk 06/03/2024 0

Fuelled by AI’s advancements in risk assessment There is likely to be an 80% surge in total spending on third-party Anti-money Laundering (AML) systems by 2028, reaching $65.62 billion, up from $36.43 billion in 2024, according to ‘Global AML Systems Market 2024-2028’ – a new study conducted by Juniper Research – a leading authority in […]

Business Finance

Global business evolves amidst AI and IT resurgence

PR News Desk 04/03/2024 0

Asian semiconductor companies playing a pivotal role In the ever-changing landscape of Artificial Intelligence (AI) and Information Technology (IT), investors are finding solace as the uptrend in risk assets, notably stocks, broadens globally across various regions and sectors. While concerns of German ‘deindustrialisation’ loom, recent shifts in the energy

Business Finance GCC UAE

Aquanow secures VASP licence from Dubai’s VARA

PR News Desk 22/02/2024 0

Canadian company accelerates global expansion plans Vancouver-based crypto infrastructure provider Aquanow has achieved a significant milestone in its global expansion strategy by acquiring the Virtual Asset Service Provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA). While currently non-operational, the licence sets the stage for Aquanow to