Paymob, a leading payments infrastructure service provider, has announced a $35 million pre-Series C funding round co-led by Mubadala and the European Bank for Reconstruction and Development (EBRD).
The value of cargo moving through a logistics corridor linking Sharjah ports with Oman rose 66.2% in the first three months of operation to hit AED1.7 billion ($463 million). This comes as part of a broader strategy to develop an integrated customs ecosystem linking seaports with land border crossings.
Saudi sovereign wealth fund PIF has announced the launch of its innovative digital platform - Tawrid Company for Financing Solutions - to provide supply-chain financing products to Saudi companies. Tawrid will play a vital role in connecting buyers, suppliers and funders through its digital platform.
SICO Wealth, a dedicated wealth and asset management unit of top investment bank SICO, has appointed Ahmed Burashid as its new Chief Executive Officer. In his new role, Burashid will lead the group’s establishment, business activities and drive its growth, drawing on the Group’s capabilities in Bahrain, Saudi Arabia, and the UAE.
Bahrain has announced the opening of the first dedicated headquarters of the Entrepreneurs’ Organisation – Bahrain (EO Bahrain), thus marking a significant milestone in the chapter’s journey and reinforcing its commitment to advancing entrepreneurship and private sector growth in the kingdom.
The Abu Dhabi Securities Exchange (ADX) Group and Al Ramz Capital announced the launch of Round 4 of the Al Ramz Investment and Trading Competition, continuing their joint efforts to strengthen financial literacy and encourage a long-term approach to investing across the UAE.
Qatar's Estithmar Holding has announced that it has completed the transfer of a 48.68% stake in Syria's Shahba Bank to its wholly owned subsidiary Masaref Holding. The stake was transferred from Banque Bemo Saudi Fransi and Ahli Trust Bank after regulatory approvals.
Growth in the non-oil private sectors of GCC economies accelerated in August, with output and new orders increasing at a faster pace and supplier delivery times improving, despite continued geopolitical uncertainty, according to top ratings agency S&P Global.
Parkin Company, the largest provider of paid public parking facilities and services in Dubai, has entered into a partnership with uPay, a UAE-based payment solution provider, to enable Parkin wallet top-ups through uPay’s extensive kiosk network across the country.
The "Financial Market Innovation Hackathon" has concluded as part of the Money20/20 Middle East conference in Riyadh.
