A group of leading financial institutions have come together to develop a new technology platform to streamline communications within the primary market. The backers of the new DirectBooks platform include Bank of America, Barclays, BNP Paribas, Citi, Deutsche Bank, Goldman Sachs, JPMorgan, Morgan Stanley, and Wells Fargo. DirectBooks aims to bridge the communications gap between […]
UK bank NatWest has teamed up with a social mobility charity to launch a digital and innovation apprentice programme. Working with Leadership Through Sport & Business (LTSB), the bank invited applicants from communities across several London boroughs to take part in a month-long boot camp in September, where they were assessed on their decision-making and […]
Dubai ranks third among the world’s top cities that are expected to grow strongly in terms of total wealth over the next 10 years, according to a study released on Thursday. “Dubai, the top financial centre in the Middle East, is also one of the safest cities in the region and a popular destination for […]
The UAE has launched economic free zones and infrastructure for space firms, with 100 per cent ownership, to attract more space investment into the country. This is part of the National Space Strategy 2030 and Space Investment Plan, which has now been approved by the government and is in effect. The UAE Space Agency made […]
The U.S. and the U.K. have signed a first-of-its-kind agreement that will allow law enforcement agencies in the countries to access data from tech companies more quickly in criminal investigations. In a press release late Thursday, the Justice Department said the historic agreement will “dramatically speed up investigations by removing legal barriers to timely and effective […]
New research suggests a possible correlation between the price of Bitcoin and the settlement dates of CME Bitcoin Futures contracts. Bitcoin fell 75 percent of the time in the lead up to CME settlement dates. Analysts from Norwegian research firm Arcane Crypto revealed that between January 2018 and August 2019, Bitcoin fell 75 percent of the time […]
World-famous Sophia the humanoid robot may have accepted the Saudi Arabian citizenship already, but now the UAE also has a robot that has Emirati written all over it. A group of UAE University students have created Bu Saif – a robot that speaks Arabic and teaches UAE history and culture. Dressed in traditional Emirati attire, […]
Virgin Hyperloop One, the company that is developing futuristic transit systems in the UAE and India, is looking to connect Gulf countries as well as areas within Dubai, drastically reducing travel time, a senior official said on Sunday.“We have a vision to connect Gulf region which will enable travelling from Abu Dhabi to Riyadh in […]
Next year, the UAE can possibly have its first ‘robotaxi’ – or a cab without the cabbie – if a self-driving car startup gets the partnership it needs to run the business in the UAE. AutoX, a firm based in Hong Kong, is in talks with some UAE companies and groups and, if all goes […]
A group of 14 banks – including Santander, RBC and MUFG – has launched a digital platform designed to tackle international trade barriers. The Trade Club Alliance aims to identify businesses that are looking to trade goods internationally and provide them with insight on regulations and trade tariffs for the relevant countries. Members will get […]
Analysts at Wells Fargo are forecasting that up to ten percent of bank jobs in the US will be wiped out by ongoing technological progress in the next ten years. As many as 200,000 jobs will disappear as machines replace labour during a new ‘golden age of banking efficiency’, the 225-page report states. And it’s […]
At Microsoft’s Future Decoded event in London, AI was the principal topic for discussion, with financial services no exception. “Everyone’s talking about it, everyone thinks everybody else is doing it, but we don’t think we’re ready to do it ourselves!” Rishi Srivastava, digital adviser at Microsoft, said before exploring the benefits of AI in financial […]
More than 100 fintech firms have applied to take part in the UK’s Open Up 2020 Challenge, which will see them compete to unlock the power of open banking and bag a share of a £1.5 million prize fund. Run by Nesta Challenges in partnership with the official Open Banking Implementation Entity (OBIE), the competition […]
Facebook’s Libra plans continue to stumble as PayPal quits the digital currency project, with Visa and Mastercard also reconsidering their involvement. In a statement late on Friday, PayPal says it has decided to “forgo further participation in the Libra Association at this time and to continue to focus on advancing our existing mission and business […]
Facebook has been working for years on augmented reality (AR) glasses, and it recently teamed up with Ray-Ban maker Luxottica to help prepare for a possible release between 2023 and 2025, according to a report by CNBC. The glasses, code-named Orion, are being designed to eventually replace smartphones by allowing wearers to answer calls, see digital […]
