In recent years, cryptocurrency has taken over the world by a storm. Everyone either wants to learn more about it or are worried about what the further virtual currencies hold for them. Though there are critics stating that cryptocurrency will either die its own death or be killed by big establishments that would want to […]
Walgreens Boots Alliance will close another 200 Walgreens drugstores in the U.S. on top of the 200 Boots pharmacies the global retail pharmacy chain already said it would shutter in the United Kingdom, the company disclosed. The new closures, which will result in a hit to Walgreens earnings of at least $1.9 billion, is part of a global […]
Consumers in Asia Pacific are some of the most advanced when it comes to digital engagement with financial services, with seventy-three percent of consumers believing that they should be able to accomplish any financial task on a mobile device, according to new data released by Forrester. Consumers today prefer to interact with their financial services providers on digital […]
A leading voice in the UK food industry has called for a temporary pause of competition law to allow firms to work with each other in order to ensure supplies in the event of a “no-deal” Brexit. Food and Drinks Federation boss Tim Rycroft told the BBC Wednesday that leaving the European Union (EU) without […]
UAE residents will enjoy a four-day holiday for Eid Al Adha. The Dubai Roads and Transport Authority (RTA) has announced free parking for the Eid Al Adha 2019 holidays. All paid parking zones, except for multi-level parking terminals, will be free to use from Zul Hijjah 9 to 12 (August 10 to 13), the RTA […]
Mastercard has acquired the account-to-account payment business of Nordic platform Nets for €2.85 billion. The acquisition comprises the clearing and instant payment services, and e-billing software of Nets’ Corporate Services business. The deal positions Mastercard at the forefront of the move to real-time payments and acts as a bulwark against the incursion of account-to-account payments […]
Nationwide is to open a new digital innovation centre in London, creating over 750 new technology jobs.The news follows Nationwide’s announcement in September 2018 that it would spend an additional £1.3bn in technology over the next five years – totalling £4.1bn over the period. The new London space will house a Digital and Technology Innovation […]
Standard Chartered has opened its latest innovation lab and fintech incubator in Shanghai, in a bid to tap into the country’s vibrant tech ecosystem and expertise in AI and Big Data. The eXellerator in China builds on the Bank’s global network of innovation labs across Singapore, Hong Kong, London, Kenya, and San Francisco. The labs […]
Japan has a reputation as a crypto-friendly nation. Following the Coincheck hack in 2018, Japan tightened controls over the entry of new exchanges as well as existing trading platforms. In 2019, the sentiment is thawing and a number of new platforms appear set to enter the market. Japan, which has the second-largest number of crypto traders in […]
Yandex has announced that MLU B.V., its ride-sharing, and food delivery joint venture with Uber, has agreed to acquire the IP and call-centers of Russia’s largest taxi company, Vezyot. As part of the deal, Vezyot’s current shareholders will receive new shares in MLU, representing up to 3.6 percent of the company at closing, along with up to $71.5 million […]
Amazon is planning to hire 2,000 additional staff in the U.K. in 2019, bringing its total workforce in the country to more than 29,500. The Seattle-headquartered e-commerce heavyweight said in a press release on Wednesday that a wide range of roles will be created, with jobs being created across the U.K. in “head office, R&D, Amazon […]
UAE Real Estate Growth in 2019 Fidu Properties has reaffirmed that Chinese investments in the UAE’s real estate sector are set to surge in the coming months, and will grow over 70 per cent during 2019, reinforcing the growth potential on offer in the country. Chinese investments have gone up 64 per cent between 2016 […]
Open Banking in Australia Open banking initiatives are suddenly popping up all over the world from Brazil and India to Japan and New Zealand, but of all markets, Australia looks to have learned most from what has happened so far in the US and Europe. The concept of open banking is hardly new because some […]
UK banks falling behind in digital transformation efforts research from Accenture. Despite investing more than $1trn globally in new technology over the last three years, the majority of banks have yet to see any financial boost from their digital transformation programmes. This is the finding from a report issued by Accenture into banks’ IT investment. […]
Natwest Collaborates with HooYu to Introduces Selfie-powered Current Account Opening NatWest Bank joins the ranks of HSBC and Lloyds who began offering “Selfie Banking” in 2016. The bank will use HooYu’s AI-enabled technology and real-time biometrics to compare the customer’s selfie picture with the image on their government-issued ID. The goal of the collaboration is […]
