Banking & Finance Binance focuses on security as crypto crimes hit $20bn Cryptocurrency crime reached a record $20.1 billion last year according to blockchain analysis company Chainalysis, but Binance’s security chief says this is still little compared to traditional financial scams. Nils Andersen-Röed, deputy head of financial crime compliance at Binance, argues the sum must be put into context. “There seems to be a misconception about the […] February 10, 2023
Opinion Employment Stocks up, manpower down as big tech marches towards blockchain Decentralised business models will inevitably be adopted as major players get tough February 10, 2023
Opinion Banking & Finance Crypto will emerge stronger from recent challenges The latest milestones for digital assets will define the ultimate success of the cryptocurrency ecosystem February 3, 2023
Opinion Banking & Finance The bumpy VC ride continues, but hope is on the horizon The Middle East will be central to investing this year February 1, 2023
Retail Where the mall meets the metaverse “We’re working on a number of initiatives that start to blur the boundaries between Web3, the metaverse, and how that is implemented in a physical space.” This is not how retail bosses used to talk a few years ago – but the digital habits that shoppers developed during the pandemic are here to stay, so […] January 31, 2023
Tech DIFC launches metaverse platform to attract tech innovators Dubai International Financial Centre (DIFC) has launched the “DIFC Metaverse Platform” to attract global technology innovators. The new platform is aligned with the Dubai metaverse strategy, which aims to add $4 billion to Dubai’s GDP, DIFC said in a statement. The strategy aims to create 40,000 virtual jobs by 2030 and attract 1,000 companies specialised […] January 31, 2023
Tech Technology is ‘biggest disruptor’ for regional CEOs this year Two-thirds of chief executives in the Middle East view technology as having the biggest potential to disrupt their businesses in 2023 and beyond, above supply chain, regulations, energy and other issues. For its latest annual CEO Survey, PwC asked 4,410 chief executives across 64 countries the extent to which a range of potential disruptions would […] January 27, 2023
Analysis Banking & Finance Saudi SMEs look to sharia funding to balance cash flow In Saudi Arabia, small to medium-sized companies are increasingly turning to sharia-compliant funding to raise money for their businesses. But rather than borrow from banks, these SMEs instead rely on the kingdom’s nascent fintech sector to obtain bridging loans, invoice financing and other kinds of niche financial support. “SMEs are underserved by the banking sector, […] January 24, 2023
Exclusive Banking & Finance Mena is Binance’s fastest growing region for institutional investors Binance reported a 34 percent rise in the number of new Middle East and North Africa institutional investors adopting its cryptocurrency technology during the last quarter of 2022, the highest growth of all regions. The world’s largest crypto exchange attributed the results to strong appetite for digital banking and financial solutions in the region. This […] January 20, 2023
Employment European and Russian expats opt for freelance jobs in UAE UAE job visa applications will increase by nearly one third this year, with many expats from Europe and Russia opting for freelance roles, the managing director of recruitment and HR consultancy Connect Group told AGBI. Aaron Portero forecasts that visa applications will rise at least 25 to 30 percent in 2023. This is on top […] January 19, 2023
Opinion Tech The metaverse is alive and kicking Just as online shopping drove internet penetration, the metaverse’s immersive interaction between physical and digital worlds will power its adoption January 16, 2023
Opinion Banking & Finance To report is to trust: How to navigate the crypto winter Transparency drives trust, and it's time that crypto exchanges report and comply just like other investible asset classes January 12, 2023
Opinion Banking & Finance Antti Arponen: Fintech payment solutions will be catalyst for growth With emerging markets in the Middle East and Africa continuing to leapfrog old technology, fintech payment solutions are in the right place at the right time December 28, 2022
Tech DIFC Courts issues rules for robots, drones, AI and fintech The Dubai International Financial Centre (DIFC) Courts has issued a fresh set of rules designed to address digital business disputes across the emirate. The rules range from big data, blockchain, artificial intelligence, fintech and cloud services, to unmanned aerial vehicles, 3D printing and robotics. Established in 2004, the DIFC Courts is the English language, independent, […] December 14, 2022
Opinion Banking & Finance FTX: One step back for crypto, two steps forward for blockchain FTX's downfall means that even those strongly against the need for crypto regulation may now realise its importance if we really want a trusted safer crypto market December 1, 2022
EXCLUSIVE Banking & Finance Dubai entrepreneur to launch crypto community for nickel A prolific Dubai-based entrepreneur is set to launch a crypto token aimed at opening up the asset market and “shaping the future of nickel”. The Nikel token will launch in Dubai next week. Safi Qurashi, CEO of NewTek, told AGBI that it will “create a community that can help shape the future of nickel, and […] December 1, 2022
Exclusive Dubai firm using AI to plot corporate sentiment in the Gulf A UAE management consultancy firm is using artificial intelligence to help companies understand corporate sentiment across sectors and regions. Iridium Advisors in Dubai uses AI analysis to scan and draw insights from 6.7 million words in 1,300 historic earnings calls from companies across the GCC, quantifying what management teams, investors and analysts are telling the […] November 30, 2022
DIFC Courts investing in metaverse and blockchain The DIFC Courts plan to enter the metaverse and use blockchain technology to make instant settlements following a judgment. Established in 2004, the DIFC Courts are the English language, independent, common law legal system for the Dubai International Financial Centre (DIFC) free zone, the emirate’s main financial hub. In 2017 the court partnered with the […] November 23, 2022
Opinion How technology can power lifelong learning The analogue approach can no longer keep pace with student or employer demands. Data management is the answer to enable real-time and lifelong learning November 18, 2022
Banking & Finance Binance CEO says ‘shaken’ crypto market needs ‘a lot more’ scrutiny Confidence in the crypto industry has been “shaken” and it needs to open up to “a lot more” oversight from regulators, the chief executive of the world’s largest cryptocurrency exchange has said. Changpeng Zhao, the CEO and co-founder of Binance, added that the crypto sector should adopt some regulations from the traditional finance industry. Zhao’s […] November 17, 2022
Analysis Banking & Finance Wealthy fintechs will find it hard to buy Gulf banks, says expert Wealthy financial technology (fintech) companies won’t find it easy to buy banks in the Middle East or other developed economies, no matter how much money they’re willing to put on the table. A top banking executive expressed this view as reports that Binance, the world’s biggest crypto exchange, may go on a $1 billion acquisition […] November 11, 2022
Banking & Finance Apicorp signs $75m carbon offset financing deal with UK firm The Arab Petroleum Investments Corporation (Apicorp), a Saudi-headquartered, energy-focused development financial institution, has signed a $75 million Islamic financing agreement with a British firm to fund high-quality carbon offsets, supporting the Gulf’s net zero emission targets. The agreement, known as a Murabaha, is an Islamic financing facility where a financier will purchase an asset and […] November 7, 2022
