The Mohammed Bin Rashid Innovation Fund [MBRIF], an initiative launched by UAE Ministry of Finance to support innovation in the UAE, today announced it has provided a guarantee for a loan worth AED 5 million to Quiqup, an innovative q-commerce tech startup powered by AI and machine learning. The business is at the forefront of the next generation of mobility of goods and services in urban cities, helping to accelerate the UAE to become the fastest q-commerce economy in the world.
Future of Trade 2030: Trends and markets to watch – new research by Standard Chartered – projects that global exports will almost double from USD17.4tn to USD29.7tn over the next decade. The report reveals 13 markets that will drive much of this growth, identifies major corridors, and five trends shaping the future of global trade. Saudi Arabia will be a key driver of this global trade growth, with its exports projected to grow at an average annual rate of 7.6 per cent to reach USD354bn by 2030.
Dukhan Bank, Qatar’s leading banking player, has announced the launch of its new personal finance campaign that allows new and existing customers to benefit from a profit rate of 3.75% (at a flat 2%) per annum. Dukhan Bank customers can avail the offer for a minimum finance amount of QAR 200,000 booked for a period of 4 years and above. Moreover, customers who wish to obtain this offer can enjoy a grace period of up to 12 months. This campaign will run until 15th April 2022.
Disruption, a new book from leading business publisher LID, explores the future of banking in a market where the rules have fundamentally changed. The authors - Ignacio Garcia Alves, Philippe de Backer and Juan Gonzalez - are leading thinkers from one of the world’s top management consulting firms, Arthur D. Little, and draw on many years of experience and insight to outline the challenges that traditional banks face from new competitors and propose a model for change and survival.
In January 2022 Rain, a leading cryptocurrency company, raised USD 110 million in its Series B funding. The round was co-led by Paradigm and Kleiner Perkins with participation from numerous parties including Coinbase Ventures, Global Founders Capital, MEVP, Cadenza Ventures, JIMCO and CMT Digital. Founded in 2017 by Abdullah Almoaiqel, AJ Nelson, Joseph Dallago, and Yehia Badawy, Rain will utilise this investment to further expand licensing in other countries and regions, enhancing its technology with an advanced trading platform and continuing to grow the team as cryptocurrency adoption continues to increase globally.