Tech Botim owner plans buyouts in Egypt and India By Pramod Kumar September 17, 2023, 5:46 AM WAM Botim will become the 'largest' financial platform in the country in the next year, said CEO Abdallah Abu Sheikh UAE technology firm AstraTech plans to expand across India, Pakistan and Egypt as part of its strategy to expand into international markets. “Last month, we acquired a banking company in the Philippines as part of our global expansion, and now we are looking at the Indian, Pakistani, and Egyptian markets,” Abdallah Abu Sheikh, founder of AstraTech and CEO of Botim platform, told state-run WAM news agency. He confirmed acquisitions in financial technology and social communication companies outside the UAE in the first quarter of 2024. However, Abu Sheikh ruled out the need for a new financing round. Botim, which was founded in 2018 and also has its headquarters in Dubai, is a VoIP (voice over internet protocol).
Finance Global trade will grow in 2025 despite tariff threats, says UAE minister Global trade is expected to grow in 2025 despite threats by US President Donald Trump to impose new import tariffs, UAE’s minister of state for foreign trade Thani Al Zeyoudi has said. The momentum in foreign trade and global trade is growing, he told Bloomberg Television at the World Economic Forum in Davos, Switzerland. “Trump is […] 4 hours ago
Banking & Finance Credit and debit card use rises steeply in Turkey Cash could be dethroned as king in Turkey as consumers increasingly turn to plastic when paying for goods and services. But the rise in card usage also comes at a cost, as more Turks fall behind in servicing their debt. Credit and debit card spending reached a total of TL14.87 trillion ($420 billion) in 2024, […] 4 hours ago
Infrastructure Etihad Rail train to link Abu Dhabi and Dubai in 30 minutes Authorities from Abu Dhabi and Dubai formally unveiled plans on Thursday for a high-speed passenger rail link that will reduce travel between the two cities to 30 minutes. Spearheaded by Etihad Rail, the train service will reach speeds of up to 350km/h, and “pass through key strategic destinations and tourist attractions”, an Abu Dhabi media […] 8 hours ago
Aviation Saudi budget airline Flynas expects IPO approval soon Saudi low-cost carrier Flynas is likely to get approval soon from the market regulator for its planned listing on the Riyadh stock exchange. Talal Al Maiman, CEO of the airline’s part-owner Kingdom Holding, said in an interview with Al Arabiya TV at the World Economic Forum that Flynas planned to list 30 percent of its […] 10 hours ago
