Finance Duo dream big with Abu Dhabi’s first tokenised treasuries fund The first tokenised treasury bill fund licensed in the Abu Dhabi Global Market launched on Thursday, with its creators hoping to attract $100 million from investors within a year. Such funds buy United States treasuries, which are US government bonds, and then create a blockchain-based token to represent these assets, thereby enabling digital, fractional ownership […] October 31, 2024
Markets UAE investors snap up AI stocks after price drop UAE investors poured money into artificial intelligence stocks during the third quarter, capitalising on underperforming shares, data from retail trading platform eToro indicates. Blockchain and AI dominated the investments made during the three-month period, as buyers seemingly looked for long-term potential, despite short-term challenges. The value of CrowdStrike Holdings plummeted more than 40 percent in […] October 24, 2024
Video length: 03:30 VIDEO Artificial Intelligence Dubai AI leaders call for global regulations Digital economy leaders in the UAE called for the global unification of artificial intelligence regulations at the launch of DMCC’s AI Centre last week. Dubai issued a universal blueprint for AI earlier this year, but a unified framework governing the growing AI technology sector is still lacking. “How can you disregard the artificial intelligence sector […] September 18, 2024
Opinion Artificial Intelligence AI and blockchain can support UAE carbon credit goals Carbon credits have become a critical instrument in mitigating greenhouse gas emissions July 22, 2024
Cybersecurity Crypto exchange Rain suffers $15m hack Rain, a cryptocurrency exchange regulated in both the UAE and Bahrain, has confirmed a serious hack resulting in losses reportedly nearing $15 million. The exchange said in a statement on its website on Tuesday that customer funds remain secure despite the incident. The security breach occurred on April 29 and was first detected by blockchain […] May 16, 2024
Trade Finance platform aims at $2.5trn trade funding hole A blockchain-based platform that lets institutions and wealthy individuals provide finance to importers and exporters for returns of up to 9 percent a year could help fill a multi-trillion-dollar hole in international trade, it says. In trade finance, the involvement of third-party financial companies removes payment and supply risks for sellers and buyers respectively. Historically, […] April 8, 2024
Analysis Banking & Finance DIFC’s law tipped to help digital assets go mainstream The Dubai International Financial Centre has introduced a law to define and regulate digital assets – a move that should herald their integration into more parts of the economy, lawyers have told AGBI. The DIFC legislation came into effect on March 8 and classifies the assets as property. Digitally tracked items such as cryptocurrencies, non-fungible […] March 27, 2024
Analysis Retail The perks and pitfalls of the UAE’s retail loyalty sector When customers consistently fly with Emirates or buy their daily coffee at Tim Hortons, the chances are high that they are members of a loyalty programme – and companies deploy them to ensure they return to the brand. But UAE consumers are increasingly discerning about the brands and products with which they interact. “The direct […] February 1, 2024
Opinion Cybersecurity Fighting cybercrime in the age of quantum computing The Middle East must learn to navigate the threats and the opportunities January 25, 2024
Finance Energy costs push bitcoin mining in Iran underground Rising energy costs and onerous government regulations are forcing much of Iran’s once-blossoming bitcoin mining sector to operate clandestinely, a top industry executive has told AGBI. Bitcoin’s price surged to $46,900 in early January ahead of the launch of bitcoin exchange-traded funds (ETFs) in the US, up from a two-year low of about $15,800 in […] January 24, 2024
Analysis Finance Gulf investors expected to bet big on bitcoin ETFs Gulf sovereign wealth funds and institutional investors are expected to expand their portfolios to include cryptocurrencies, after spot bitcoin exchange-traded funds were given the green light. The US Securities and Exchange Commission (SEC) approved the trading of 11 spot bitcoin ETFs, issued by global asset management companies such as BlackRock, Invesco, Grayscale, Fidelity, and Franklin. […] January 16, 2024
Analysis Tech Gulf tech trends to watch in 2024 Technological breakthroughs in 2023 have transformed society and the world economy, but we must always look ahead. These are the cutting-edge discoveries and technologies that will define 2024. Quantum computing Quantum computing – using the principles of quantum mechanics to tackle problems too complex for traditional computers – is set to revolutionise industries. Global tech […] January 2, 2024
Sustainability Turning trash into tokens: blockchain’s answer to waste Trash, garbage, detritus. Whatever you call it, the waste management industry around the world faces a huge challenge as it must handle a substantial and growing volume of rubbish. In 2020, according to the World Bank, the world generated 2.24 billion tonnes of solid waste, amounting to a footprint of 0.79 kg per person per […] December 11, 2023
Tech Tax-friendly UAE beckons blockchain businesses The UAE is becoming a preferred destination for blockchain technology companies, ranking third globally as a crypto centre, according to a survey. Immigration consultancy Henley & Partners used six criteria to arrive at a global ranking and placed Singapore first because of its government’s close cooperation with banks, businesses and the public in developing its […] December 2, 2023
Analysis Trade Shark Tank’s O’Leary touts Abu Dhabi as crypto centre Venture capitalist Kevin O’Leary believes Abu Dhabi could soon eclipse the US as the global centre of crypto innovation. While regional insiders told AGBI they agreed the UAE is set to be a significant digital assets hub, they said overtaking the US remains a tall order. In a Fox Business interview this week, O’Leary said […] October 6, 2023
Video length: 03:36 VIDEO Economy Brics expansion could hasten move away from dollar The addition of six new countries to the Brics bloc – including some of the world’s largest oil exporters – is likely to expedite the decline in the US dollar’s prominence in global trade, according to a Dubai financial analyst. Saudi Arabia, the UAE, Egypt, Iran, Argentina and Ethiopia have all been accepted as members […] August 29, 2023
Exclusive Development Dubai arbitration centre aims high as caseloads surge Dubai International Arbitration Centre (DIAC) aims to become the top global destination for settling corporate disputes after the revamped institution reported a six-fold rise in the value of cases filed there last year. Before the creation of DIAC in 2004, arbitration in the emirate was conducted mostly through a division of Dubai Chamber of Commerce […] July 18, 2023
Tech Korean blockchain firm picks Abu Dhabi for global HQ Neoply, a South Korean blockchain technology company, is to establish its global headquarters in Abu Dhabi. The firm joins Abu Dhabi Investment Office’s (Adio) Innovation Programme, which is investing AED2 billion ($545 million) in supporting the growth of tech-focused industries in the emirate. Neoply is the blockchain arm of Neowiz Holdings, a prominent South Korean […] July 10, 2023
Opinion Tech The triad that secures blockchain Confidentiality, integrity and availability are all challenges as the Middle East adopts new technology July 2, 2023
Aviation US electric aircraft developer lands in Abu Dhabi A hybrid-electric vertical take-off and landing aircraft developer from California is planning to set up a regional HQ in Abu Dhabi as trade deals between the Emirates and the US focus on advanced technologies. Odys Aviation has joined the UAE Ministry of Economy’s NextGen foreign direct investment programme, which aims to attract digitally enabled businesses […] May 31, 2023
Opinion Media & Advertising Region’s advertisers shoot for ‘Oscars’ in Cannes The Dubai Lynx Awards points to a promising showing in the Côte d’Azur April 12, 2023
Analysis Health More GCC healthcare mergers likely as competition hots up The GCC healthcare market is set to witness more mergers, acquisitions and consolidation as competition increases, say experts. As the sector continues to mature, public-private partnerships (PPPs) are bringing about a shift in care delivery that is likely to be transformative, according to Dubai-based investment banking advisory firm Alpen Capital. Its research predicts that healthcare […] April 4, 2023