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 […]
The Americas Blockchain Summit (ABS 2019) with the theme “How Blockchain is Transforming Businesses” will be held in Panama, Rep. of Panama, 7 & 8 November, 2019 at the Wyndham Hotel. The ABS 2019 is an unprecedented event in Panama that connects global experts in the use of blockchain, technology developers, emerging startups, leaders in […]
For financial institutions (FIs) leveraging the cloud, the earliest adoption was often the high-performance computing grid to support complex modelling. Gone were the days when limited capacity of on-premises grids meant that quants or actuaries had to wait for the compute resources they needed to run their models: across workloads, the cloud allows FIs to […]
On day two of the World Conference of Banking Institutes, executive director – business development of the Abu Dhabi Global Market Steve Barnett opened sessions with a focus on sustainability in emerging markets and explored how education is a core pillar when ensuring commitment to environmental, social, and governance (ESG) initiatives. While the financial services […]
London-based GoCardless is opening for business in the US, on a mission to shake up recurring payments in the world’s biggest market. With an office in San Francisco, GoCardless has hooked up to the Automated Clearing House Clearing network, enabling merchants to pull payments directly from their customers’ bank accounts, at a lower cost than […]
Gold edged slightly higher on Monday after the United States and China imposed new tariffs on each others’ goods but a firmer dollar limited the precious metal’s upside. Washington began imposing 15% tariffs on a variety of Chinese goods on Sunday, including footwear, smartwatches, and flat-panel televisions, as Beijing began imposing new duties on U.S. crude. However, U.S. President […]
