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Muscat based-Islamic bank, Bank Nizwa, on Monday, said its participation as a collective bank for the OQ Gas Networks (OQGN) initial public offering (IPO). The aim is to collaborate with prominent entity and to make subscription to the IPO accessible to audience. This collaboration enables the bank, customers to subscribe shares in the OQGN IPO […]
AI-based fintech platform, AIZEN Global, on Thursday, said the company has entered the Indonesian electric vehicle (EV) market with the launch of an AI banking service called ‘EV-CreditConnect’ tailored for EV enthusiasts. Electric Mobility Ecosystem Association (AEML) and AC Ventures’ research revealed that Indonesia’s electric vehicle market is expected to see a growth, attaining $20 […]
ARK Invest LLC, owner of ARK Investment Management acquired Rize ETF Ltd, Europe’s ETF (exchange-traded fund) issuer, initiated by ARK’s chief executive Cathie Wood on late Tuesday. ARK Invest said the deal aims to introduce its suite of cutting-edge innovation ETFs, under the UCITS framework, also known as undertakings for collective investment in transferable securities, […]
Dubai International Financial Centre issued a report on Wednesday, titled ‘Drivers of Innovation in Financial Services’, on a collaboration with a London Stock Exchange Group and Refinitiv to reveal a five-year outlook for innovation in the financial services industry. The Dubai-based DIFC is a financial centre prevailing in Middle East, African and South Asia (MEASA). […]
Privately held finance company Behrain FinTech Bay (BFB), on Monday, said it will collaborate with Family Office, a wealth management firm in Gulf Cooperation Council (GCC) to revolutionise wealth management in the region. The company said this partnership will enable BFB to leverage its strong expertise in digital innovation to collaborate closely with Family Office to […]
Emirati state-owned Mubadala Investment Co said it has partnered with an alternative asset managing firm Blue Owl Capital on Monday. This partnership is under the terms of a $1 billion commitment made to Blue Owl’s credit platforms. This will initially focus on Blue Owl’s technology lending strategy, which provides financing solutions for a broad range […]
Dubai-based Sukoon Insurance said it acquired UAE life insurance portfolio of Chubb Tempest Reinsurance on Tuesday, based on Zawya News report. The report mentioned the acquisition includes unit-linked life insurance and production policies as part of Sukoon’s strategy to boost its position in the market. Chubb Tempest Reinsurance focuses on specialized solutions for multifaceted risks. […]
HKT’s digital commerce platform The Club said it will partner with Richard Li backed Asian financial firm MoneyHero in order to provide financial knowledge and information to The Club members. The Club said this initiative will enable its members in selection of appropriate financial products alongside earning Clubpoints. Through The Club’s platform, the company said […]
Molecular genetics diagnostic firm Mainz Biomed N.V. entered a strategic partnership with Ärztliches Labor Dr. Buhlmann with an objective to extend its strengthened position in the German market. The company specializing in the early detection of cancer said this collaboration grants Mainz Biomed provides wider access as well as the potential for further expansion into […]
Global insurance brokerage firm Arthur J. Gallagher & Co said it will acquire UK based insurance company Lifesure Group Ltd on Tuesday. Gallagher said as part of the deal, it will also acquire Lifesure’s affiliated company Barnes Commercial, an insurance broker serving small-to-medium businesses. However, the terms of the transaction were not disclosed. Paul Reid, […]
Navigator Investment Services Ltd, an integrated investment platform rebranded its label ‘Navigator’ to GROW with Singlife with an objective to invest on technology to provide tailored services on Monday. The initiative is aimed to reaffirm its commitment to provide its clients a solid investment experience as they work towards their financial goals. The company said […]
The Ministry of Economy has suspended the operations of 50 enterprises operating within the Designated Non-Financial Businesses and Professions (DNFBP) sector in Q3 2023, for a period of three months. The action was taken due to these entities’ failure to register in the UAE’s Financial Information Unit’s goAML system, in line with the provisions of […]
