Sovereign wealth funds have reportedly become major players in the artificial intelligence (AI) funding race. Countries such as Saudi Arabia, Kuwait and the United Arab Emirates (UAE) are turning to AI projects as a way to diversify their economies, CNBC reported Sunday (Sept. 22). In...
Revolut is reportedly looking to expand its business into Gulf Cooperation Council (GCC)-member countries. The British FinTech has submitted applications to become an electronic-money institution and offer remittances in the United Arab Emirates (UAE) and is seeking ways to expand in Saudi Arabia, Bloomberg reported Friday (Sept....
MGX, a United Arab Emirates (UAE) state-backed technology investment company, is reportedly considering participating in a multibillion funding round for OpenAI. The fund has not determined the size of its potential investment, the Wall Street Journal (WSJ) reported Thursday (Sept. 12). OpenAI is seeking $6.5 billion in funding...
Ziina has raised $22 million to provide FinTech services for UAE-based small businesses. In an interview with TechCrunch Tuesday (Sept. 3), Co-founder and CEO Faisal Toukan said there were a few factors that made the company attractive to investors, including the rapidly-growing small and medium-sized enterprise (SME) segment in the...
July 23, 2024
The payments landscape is a global one, meaning winning innovations have boundless room to scale. It also means that geographical positioning can help with strategically driving forward various innovations. “The Middle East has always been a very unique trade corridor, placed right in the middle of the world, which facilitates transactions across the West and […]
May 13, 2024
In the United Arab Emirates, 71% of consumers actively use digital features to enhance their shopping experiences. Yet valuable opportunities to build on this robust foundation remain in play. The...
November 23, 2023
Shoppers in the United Arab Emirates (UAE) have a strong inclination toward digital features in their shopping journeys. Ninety-four percent of consumers in the Middle Eastern country used at least...
October 17, 2023
Is your smart voice assistant speaking your language? With how technology is fast evolving, the likelihood of that answer being “yes” grows stronger with each passing day. As PYMNTS Intelligence...
September 26, 2024
Dubai’s cryptocurrency regulator reportedly wants companies to warn customers of the risks of digital currencies. The Virtual Assets Regulatory Authority (VARA) updated its guidelines and will require companies that want to market crypto in the United Arab Emirates to include a new and “prominent” disclaimer starting Oct. 1, Bloomberg reported Thursday (Sept. 26). Crypto companies […]
September 22, 2024
Sovereign wealth funds have reportedly become major players in the artificial intelligence (AI) funding race. Countries such as Saudi Arabia, Kuwait and the United Arab Emirates (UAE) are turning to...
September 13, 2024
Revolut is reportedly looking to expand its business into Gulf Cooperation Council (GCC)-member countries. The British FinTech has submitted applications to become an electronic-money institution and offer remittances in the United...
September 12, 2024
MGX, a United Arab Emirates (UAE) state-backed technology investment company, is reportedly considering participating in a multibillion funding round for OpenAI. The fund has not determined the size of its potential investment,...
