Bitcoin

Bitcoin seen at risk of resuming slide if $29,000 support fails

Bitcoin is trading above $30,000 on Tuesday as it recovers from a sharp decline in the past three weeks

Dubai Chambers

Dubai Chambers, Citi sign MoU to boost business competitiveness

Both entities will collaborate on events and initiatives that support common goals and attract companies to the UAE

Investment Corporation of Dubai

Investment Corporation of Dubai reports Dhs10.1bn in net profit for 2021

Its revenues for 2021 equalled Dhs169.4bn, up 24.5 per cent compared to the previous year

Open banking

Open banking platform Tarabut Gateway partners with four banks in Saudi

Traditional financial institutions and fintechs can connect and build their own apps using Tarabut’s solutions

Gold

Gold holds weekly gain as dollar extends drop on risk sentiment

Bullion has risen past $1,850 an ounce in the second half of May

Bitcoin may still be primed for a further drop from range

Bitcoin is holding up relatively well compared with some of its peers

healthcare investors

Why healthcare is touted as a safe bet for investors

Against a backdrop of uncertainty and market volatility, healthcare presents investors with comparatively steady returns

Musafir Mastercard

Mastercard, Musafir partner to enable seamless travel bookings

The partnership will see new payment products introduced to offer travel benefits to both consumers and corporates

CMTrading

Gulf Business and CMTrading to host an event on trading opportunities

The event will be held on June 16, 7:30 pm, at Pullman Downtown Hotel, which will bring key speakers from the finance industry

AJman DoF FAB Photo

Ajman’s DoF, FAB and Magnati to offer digital payments through AjmanPay app

Ajman Pay will accelerate the emirate’s shift toward a cashless economy and ensure that government entities benefit from digital payment solutions

Why CEO of Dubai-based CMTrading feels trust is key to success

Ibrahim Aita, founder and CEO of CMTrading, shares the brokerage’s decade-long journey and current investment trends

DubaiPay DoF DSG Al Ansari Court

DubaiPay services now available on Al Ansari Exchange’s mobile app

Al Ansari Exchange’s customers can now easily use DubaiPay as an alternative payment option available on their mobile app

Mastercard digital payments HyperPay

HyperPay, Mastercard partner to grow digital payment rails across MENA

The collaboration will offer advanced new technologies so businesses, governments and SMEs can move from cash-based payments to a seamless ecosystem

EFG Karim Awad

EFG Hermes Holding posts net profit of EGP345m in Q1 2022

EFG Hermes Holding’s sell-side revenues grew by 61 per cent y-o-y to EGP494m supported by revenues from the investment banking and brokerage divisions

Accor ADCB Raffles The Palm Dubai

Accor, ADCB partner to launch ALL-ADCB credit card in the UAE

The ALL-ADCB Infinite and Signature credit cards offer members benefits at over 30 Accor properties in the UAE

Zoom

Zoom records revenue of $1.07bn in Q1 2023

The number of customers contributing more than $100,000 in trailing 12 months revenue increased 46 per cent year-over-year

Saudi Arabia

Saudi Arabia to use oil windfall to boost private sector

Saudi Arabia’s posted a $15.3bn budget surplus in the first quarter

IPO

Offer price for Abu Dhabi’s largest ever listing set at Dhs2.45 per share

The IPO subscription period has commenced today, May 23, and will close for retail investors on May 28, 2022

Bitcoin

Bitcoin recovers to $30,000 area after shedding weekend weakness

Bitcoin has struggled in recent weeks as the Federal Reserve hikes interest rates and inflation remains high

Prince Alwaleed

Saudi Arabia buys $1.5bn stake in Prince Alwaleed’s firm

The Public Investment Fund acquired a 16.9 per cent stake in Kingdom Holding Company

Mastercard, OPay partner to grow cashless ecosystem

OPay customers from countries such as Egypt, Nigeria, Ethiopia and the UAE will benefit from Mastercard’s virtual payment solution linked to their ewallet

Dubai Financial Market

Dubai Financial Market to launch trading of Oman Crude Oil futures from June

The contracts will be cash settled and will have a smaller contract size of 100 barrels making them accessible

Alpha Dhabi Abu Dhabi GI_1085676060-768x576-1

Alpha Dhabi to invest Dhs9.2bn in Alpha Wave Ventures II fund

Alpha Dhabi’s investment in the fund involves a capital contribution of Dhs2.6bn and undrawn capital commitment of Dhs6.6bn

ValU MAF

Majid Al Futtaim partners with valU to introduce Sha2labaz at its malls in Egypt

Sha2labaz, a redemption product by valU, will help shoppers receive cash reimbursements for purchases they make at Mall of Egypt and City Centre Almaza

SPID Houlihan Lokey Imperial Avenue

Houlihan Lokey raises around $200m for Shapoorji Pallonji for project in Downtown Dubai

Imperial Avenue, a 45-floor residential tower, is Shapoorji Pallonji’s flagship real estate project in the UAE

Mastercard retailers

Mastercard begins facial-recognition rollout with retailers

Facial recognition is just one of many technologies being trialed by retailers, banks and payments firms to eliminate cash and reduce fraud

Berkshire Hathaway

Berkshire tweaks bank play with $2.9bn bet on Citi

Berkshire’s now betting on Citigroup as new management takes over

Treasury bond

UAE lists first dirham-denominated treasury bond on Nasdaq Dubai

The inaugural issuance was 6.3 times oversubscribed

Crypto

Crypto is feeling the market heat. Here’s what you should do

The turmoil is a good time for investors to rebalance their portfolios