Friday , 23 February 2018

Business

Ripple effect: Saudi’s crypto experiment can save hundreds of millions, says Moody’s

By: Staff Writer, ZAWYA Saudi Arabia could save itself hundreds of millions of dollars in foreign currency exchange fees if its pilot programme to use blockchain for cross-border payments is rolled out, according to credit ratings agency Moody’s. In a note published on Monday evening, Moody’s said that an agreement last Wednesday between United States-based financial technology (fintech) company Ripple …

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First Abu Dhabi Bank launches ‘payit’, UAE’s first fully-featured digital wallet

Staff Writer, WAM (Emirates News Agency) ABU DHABI- First Abu Dhabi Bank, FAB, has launched ‘payit’, the country’s first fully-featured digital wallet, in support of the UAE’s goal to become a cashless economy. The safe and secure service is available to anyone with a valid Emirates ID. Using ‘payit’, Emiratis and residents can send and receive money instantly 24/7, make …

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Nasdaq Dubai launches Abu Dhabi, Dubai equity index futures

Nasdaq Dubai’s website showed Dubai index futures, due to expire on June 21, trading at 3,328 on Sunday while the underlying index was down 0.6 percent at 3,310 points. Abu Dhabi index futures were at 4,560 while the index was up 0.2 percent at 4,586 points. Nasdaq Dubai said it was in talks with regional and international financial institutions that …

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RAKBANK partners with Etisalat to offer business banking solutions at Hello Business Hub

RAKBANK will provide Business Banking solutions at preferential terms to SMBs who visit Etisalat’s specialized business hub. RAKBANK partners with Etisalat to offer business banking solutions at Hello Business Hub United Arab Emirates – The National Bank of Ras Al Khaimah (RAKBANK) today announced a strategic partnership with Etisalat’s “Hello Business Hub”, a one-stop location that enables small and medium …

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UBS names ex-Investcorp exec as Saudi ultra high net worth head

UBS Group has appointed former Investcorp executive, Gabriel Aractingi, as head of its ultra-high net worth business in Saudi Arabia. UBS Group UBSG.S has appointed former Investcorp executive, Gabriel Aractingi, as head of its ultra-high net worth business in Saudi Arabia from February 1, the bank said in an email. Aractingi previously headed the Saudi business for Bahrain-based Investcorp INVB.BH …

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Regulators must adopt emerging tech: Accenture

Innovative products and services are increasingly challenging regulatory processes By Staff Writer, TradeArabia Regulators must embrace the innovative application of emerging technologies, known as RegTech, to enable a more effective regulatory environment, mitigate risks and drive competitive advantage, said leading global professional services company Accenture in a new report. According to the report titled “RegTech for Regulators”, released in collaboration …

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CEO of Dubai’s BitOasis exchange says UAE’s crypto concerns are “positive”

Zawya Express presents the top story, topic or trend highlighted by our editorial team as recommended reading to start your working day Representation of the Bitcoin virtual currency standing on the PC motherboard is seen in this illustration picture. The CEO and co-founder of Dubai’s popular cryptocurrency exchange BitOasis, Ola Doudin, has said that Sunday’s statement by the United Arab …

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Google offers Aramco unlikely route to IPO heaven

Partnership with Google may provoke some outside-the-box thinking Google found Russia-backed ads on YouTube, Gmail Has Saudi Aramco landed on a cunning plan to boost its future stock-market valuation? Certainly, the $2 trillion valuation desired by the kingdom’s crown prince in the oil producer’s forthcoming initial public offering is hard to square with reality. A new partnership with the owner …

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Saudi Arabia plans up to $11 bln investments in water sector in 2018

The largest desalinated water investment will be in Jubail 3 Image used for illustrative purpose. A worker stands at a desalination plant, 35 lm south of Riyadh, May 4, 2011. By Nada Al Rifai, ZAWYA Saudi Arabia is attracting investments worth $11 billion into large-scale water projects across several regions of the kingdom, primarily in water desalination, a Saudi official …

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UAE stands to be a big winner from China’s $900bln Belt & Road plan – report

By: Michael Fahy, ZAWYA Ancient trade routes from China through central Asia by rail (Belt) and to Africa and beyond by sea. The United Arab Emirates has been ranked as third in a global index of nations that stand to benefit most from China’s Belt and Road Initiative, according to a new report released on Tuesday by property consultancy Knight …

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