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Cryptocurrency

  • Analysis

UAE experts warn investors about ‘under-regulated fintech’

Financial technology (fintech) startups have been big business for investors and consumers in the UAE, but experts have raised concerns about whether they are under-regulated. Fintech startup funding saw steep growth in the UAE in the first half of this year, accounting for a third of all deals, well above the Middle East and North […]

BlackRock may spur wealthy to make crypto leap

Institutional investors and high net worth individuals have traditionally shunned cryptocurrencies as volatile and untrustworthy. The ongoing turbulence in the market, with the value of bitcoin dropping by nearly half so far this year, has not helped sentiment but there are signs this is changing. BlackRock, which has $8.49 trillion of assets under management, yesterday […]

The real estate sector has seen strong growth recently

UAE’s property rules target money laundering via virtual assets

The UAE has introduced new real estate reporting requirements as part of its fight against money laundering. The clampdown is primarily aimed at transactions involving virtual assets, and is a partnership between the Ministry of Economy (MoE), the Ministry of Justice (MoJ) and the UAE Financial Intelligence Unit (FIU). The new rules will cover the […]

Consolidation coming to Gulf fintech, warns $40bn unicorn VP

Consolidation is coming to the Gulf’s fintech sector, according to Remo Giovanni Abbondandolo, senior vice president for MENA at global payments processor Checkout.com. The London-headquartered fintech, which offers a full-stack platform that simplifies payments processes for large global enterprise merchants, closed a $1 billion Series D funding round in January. “In my opinion, if you’re […]

  • Analysis

Dubai crypto chief predicts a $200k Bitcoin by 2024

“It might get worse,” Vineet Budki, managing partner and CEO at Cypher Capital, told AGBI when asked: Just how bad is the crypto market crash? Yet, the UAE-based venture capital (VC) firm has been deploying millions in Bitcoin, even as cryptocurrencies suffered their most brutal collapse this year. A major sell-off in cryptocurrencies in May […]

dubai business

Dubai welcomes 45,000 new businesses in 2022 … so far

Dubai has seen a 25 percent rise in the number of new company licences issued in the first six months of 2022, highlighting the impact of the government’s new business incentive initiatives. “As a corporate services provider, I have seen first-hand a significant rise in foreign direct investment into the UAE from several geographies directly […]

Rami Darwish, CEO Arrow Labs
  • Exclusive

UAE tech firm Arrow Labs plans major European expansion

Arrow Labs is planning a major expansion into Europe as more companies seek to improve remote working practices. The UAE-based technology company which offers digital workflow solutions, has announced its entry into the Greek market after securing a “significant” new contract with one of the world’s largest industrial gas manufacturing companies. Having attracted renowned Silicon […]

Sanctions won’t dampen Dubai property allure for Russians

The popularity of Dubai among Russian property buyers is unlikely to be dented by a US threat to impose sanctions on UAE banks who process their financial transactions, as most payments are made using cash or cryptocurrency. Dubai-based Mira Estate said its property sales to customers from Russia and the 11 other Commonwealth of Independent […]

Tech workers reap big salaries amid urgent skill shortage

Dubai-based software engineers can earn up to 30 percent more than similar workers in rival tech hubs in Europe, due to an ongoing skills shortage within the sector across the Middle East. Amanda Line, a partner at global consultancy firm PwC, said that the Middle East and North Africa (MENA) region needs to create 300 […]

UAE seeks 27 trade deals as global growth slows

Global trade growth is forecast to remain resilient this year, expanding at a rate of three percent, despite a fierce onslaught of headwinds, according to the Dubai Multi Commodities Centre.  But that represents a significant slowdown from nearly 10 percent in 2021 when global trade hit a record-high of $28.5 trillion. DMCC’s Future of Trade […]

Dubai International Financial Centre hosted this year's Fintech Week

Crypto is ‘more like a Rolex than currency’

Crypto assets will not become currencies and global regulators should be concerned about the trillions of dollars lost in the cryptocurrency market, a senior investment executive at one of the UAE’s top financial institutions said yesterday. A major sell-off in cryptocurrencies last month wiped over $200 billion of investor wealth from the market in a […]

Changpeng Zhao

Binance CEO warns Gulf banks they must adapt

Banks that fail to catch up with blockchain and decentralised finance technologies will have a “hard time in the future”, the chief executive of the world’s largest cryptocurrency exchange has warned. Changpeng Zhao, CEO and co-founder of Binance, told a conference in Dubai today that embracing these tech advances allowed entrepreneurs to raise tens of […]

Many amateur investors took a hit when cryptocurrencies crashed but there is now a gap to exploit by those with a solid business plan

Crypto crisis will weed out the Gulf’s weak players, say analysts

The region’s cryptocurrency industry has grown rapidly – and is now being hit hard by the worldwide plunge in prices, but experts and businesses are welcoming the shake-up The value of the cryptocurrency market has slumped by more than $2 trillion since November, with bitcoin’s price dropping 70 percent and some in the sector laying […]

  • Analysis

Mena region has record year for startup investment

The geographic location of the Middle East and North Africa (Mena) provides access to large markets in Europe, Africa and Asia, and is home to a large, young population.  In a context of geopolitical instability and high unemployment, many of these young people are increasingly seeking new opportunities and looking to improve the world via […]

Arbitrageurs: the funds making tons from messy markets

‘Arb trading’ is not for everyone but can be profitable The crypto market’s a hot mess, leaving many investors struggling to turn a buck. Enter the arbitrageurs. Bitcoin and other cryptocurrencies have either been shackled to ranges or in decline since January, leaving your regular buy-and-hold investor with little option but to sell or to […]