Corporate Finance

Scrut Automation Secures $10 Million In Growth Capital

PR News Desk 09/04/2024

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

Banking Finance

Saxo Bank announces $111 million net profit in 2023

PR News Desk 12/03/2024

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

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

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

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

Banking Finance Space

CoreLogic Australia-ICEYE tie-up to aid financial industry

Arnold Pinto 15/02/2024

Advanced disaster response solution on offer CoreLogic Australia, a leading property analytics company, has signed an agreement with ICEYE, the world leader in persistent monitoring data and natural catastrophe insights, to introduce a cutting-edge disaster response solution tailored for the banking and finance sector. By amalgamating CoreLogic’s four decades of

Finance

Do you know that Singapore and Zurich are the most expensive cities in the world?

Arnold Pinto 17/12/2023

Worldwide Cost of Living index tracks 173 cities Singapore retains its position as the world’s most expensive city this year for the ninth time in 11 years, according to the newly released Worldwide Cost of Living (WCOL) 2023 index issued by the Economist Intelligence Unit, the Research and Analysis division of The Economist Group. The […]

Finance

Singapore FinTech Festival 2023 closes with a record 66,000 participants

PR News Desk 24/11/2023

By Daniel Ngiam Singapore FinTech Festival 2023 (SFF 2023) registered a record 66,000 participants, up from 62,000 attendees in 2022, while convening leaders and experts worldwide in finance, technology and public policy. The eighth edition of the event, held at Singapore Expo from November 14-17, 2023, was organised by the Monetary Authority of Singapore, Singapore’s […]

Finance

Zurich International Life offers Gulf expats 360-degree holistic financial solutions

Arnold Pinto 06/11/2023

Employers urged to prioritise employee well-being and create positive work cultures Zurich International Life offers expats in the UAE and Saudi Arabia a comprehensive retirement planning solution. Beyond retirement planning, the company also addresses savings, education, life insurance, and critical illness coverage. In this interview, Swarnaleka Shetty Vyas, Head of

Finance Business

Hedonova launches unique short-only fund in ADGM

PR News Desk 22/09/2023

Hedonova has launched an exclusive short-only fund, set to debut in the Abu Dhabi Global Market (ADGM). This distinctive initiative marks Hedonova as one of the few investment companies worldwide to introduce a specialised investment strategy centred around short-selling securities on such a scale. The short-only fund, a testament to Hedonova’s innovative spirit,

Business Finance

Visa partners and M2P Fintech to offer seamless payments

PR News Desk 22/09/2023

Visa has partnered with M2P Fintech, Asia’s largest API infrastructure company, to help fintech and non-banking entities issue payment products seamlessly through the Visa Ready to Launch (VRTL) programme. M2P Fintech specialises in building financial infrastructure through various accessible solutions. By acting as a tech layer between banks, fintechs and financial

Finance Business

Visa study finds that SMBs are eager for global forays

PR News Desk 21/09/2023

Visa has revealed findings from the seventh edition of its Global Back to Business Study. It found that most surveyed small and micro businesses (SMBs) plan to prioritise cross-border sales as they scale to new geographies. Additionally, the survey found that many consumers are embracing cashless transactions, with nearly 75% of surveyed shoppers predicting they […]

Finance GCC UAE

DIFC positions Dubai as a global insurance and reinsurance hub with unparalleled growth

PR News Desk 20/09/2023

Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, continues to steer Dubai’s position as a worldwide hub for the insurance and reinsurance industry. Having granted several licences to insurance and reinsurance companies in recent months, the sector is on track for 20% annual […]

Finance GCC UAE

Al Ansari Financial Services wins 2 awards in Dubai

PR News Desk 19/09/2023

Al Ansari Financial Services, one of the leading integrated financial services groups in the UAE and the parent of Al Ansari Exchange, recently bagged two awards at the MEA Finance Leaders in Payments Awards 2023 held at The Ritz-Carlton Hotel in Dubai, UAE. Al Ansari Financial Services was honoured with the title ‘Best User Experience […]

Banking Finance

Emirates Development Bank launches solar energy financing initiative

PR News Desk 14/09/2023

AED100-million programme focuses on green energy solutions in the UAE Emirates Development Bank (EDB), the UAE’s development bank, has launched a new solar energy finance programme to support micro, small, and medium enterprises (MSMEs) across diverse sectors in the UAE. The programme will allocate AED100 million to hasten the adoption of green energy solutions, focusing

Finance Business

Zurich Insurance and DIFC Innovation Hub partner to empower insurtech start-up ecosystem in the Middle East

Arnold Pinto 31/08/2023

New collaboration encompasses FinTech Accelerator Programme in DIFC Zurich Insurance Group (Zurich) – the Switzerland-headquartered global multi-line insurer – has entered a strategic alliance with DIFC Innovation Hub, the top-rated fintech and innovation ecosystem in the Middle East region, to empower the latter’s FinTech Accelerator Programme. The FinTech

Finance GCC Saudi Arabia Space

Axiom Space gets AED1.2 billion in a Saudi-led funding round

Arnold Pinto 29/08/2023

Axiom Space, the Houston-based space and aerospace company building the world’s first commercial space station in low-Earth orbit (LEO), has secured AED1.2 billion ($350 million) in its latest funding round. With the latest investment round being led by Riyadh-based AlJazira Capital and Seoul-headquartered Boryung and supported by backers that include deep-tech venture

Finance Business

e& capital grants AED18.4 million to Maxbyte Technologies

Arnold Pinto 28/08/2023

e& capital, an Abu Dhabi-based venture capital company, is leading an AED18.4 million Series A financing round of Maxbyte Technologies, an integrated digital and robotics solutions innovator, to strengthen the company’s market expansion and product development. Headquartered in Coimbatore, India, with an office in Sharjah, UAE, Maxbyte Technologies is an

Finance

Safeguard Your Finances: Hedge & Sachs Reveals 5 Tips to Achieve and Retain Financial Stability in Uncertain Times

News Desk 17/07/2023

Attribute to: Rachit Pant, CEO & Board Member, Hedge & Sachs July 2023, Dubai UAE In today’s unpredictable world, with words like recession looming, achieving and retaining financial stability has become more important than ever. Sudden job loss, expensive holidays, unaccounted for expenses, and loans can throw our finances off balance. However, by

Finance GCC NEWS DESK UAE

Hong Kong and UAE to Collaborate on Crypto Rules

News Editor 26/06/2023

Hong Kong and UAE to Collaborate on Crypto Rules: The United Arab Emirates and Hong Kong have officially announced their collaboration on crypto regulations. The representatives of the Central Banks of Hong Kong and UAE recently met in Abu Dhabi, where both jurisdictions agreed to position themselves as nations that are crypto-friendly. During the meeting, both […]