Author: Arabian Media staff
Wio Bank said on Monday it has crossed Dhs50bn ($13.6bn) in customer deposits, less than three years after its launch, as digital banking adoption accelerates across the UAE. The Abu Dhabi-based digital bank said deposits have nearly doubled year-on-year, reflecting a strong shift in how individuals and businesses in the country manage their finances. The milestone underscores Wio’s growing role in the UAE’s push to become a global fintech hub. Wio’s customer base expanded 72 per cent over the past year, driven by a 93 per cent rise in personal banking customers and 42 per cent growth in business clients.…
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The UAE Ministry of Economy and Tourism, in collaboration with the New Economy Academy and Ignyte, the Dubai International Financial Centre (DIFC)-developed digital startup and SME ecosystem, has launched a major new initiative to support Emirati entrepreneurs. The Entrepreneurship Programme aims to train 10,000 Emiratis through a series of in-person and virtual courses designed to equip participants with the skills, knowledge, and practical tools to launch scalable ventures across the UAE and beyond. The initiative forms part of the national campaign “The Emirates: The Startup Capital of the World”, launched by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime…
Image credit: Majid Al Futtaim/Website Majid Al Futtaim, the prominent shopping mall, communities, retail, and leisure conglomerate in the Middle East, Africa, and Central Asia, has announced the launch of Ghaf Woods Mall, a flagship shopping and leisure destination in Dubai. Announced on October 6, the mall will be the first forest-integrated retail space in the region, offering a unique blend of nature and commerce. Read more-Sheikh Zayed road gets direct link to Mall of the Emirates: What motorists need to know The new mall will anchor the Dhs15.4bn Ghaf Woods residential community, representing a pioneering step in biophilic retail…
Image: ADGM/ For illustrative purposes Blackstone, the world’s largest alternative asset manager, and Lunate, the Abu Dhabi-based global investment management firm with more than $110bn in assets under management, have partnered to invest in logistics assets across the Gulf Cooperation Council (GCC). The two firms will establish Gulf Logistics Infrastructure Development Enterprise (GLIDE), a new platform focused on developing, acquiring, and managing Grade A logistics assets across the GCC. Blackstone, which owns more than 1.2 billion square feet of logistics assets globally, will combine its global experience with Lunate’s regional investment network and expertise. Additional strategic partners from the GCC…
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Image: Getty Images The U.S. government shutdown entered its sixth day on Monday, with President Donald Trump‘s Republicans and congressional Democrats still at an impasse and the White House threatening to ramp up pressure by ordering mass layoffs of federal workers. The Republican-led Senate was slated to vote again on dueling measures to fund federal agencies, including a Republican stopgap bill approved by the House of Representatives that would fund operations through November 21, and a Democratic alternative. Neither was expected to receive the 60 votes needed to advance. Asked on Sunday night when the government would begin laying off federal…
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Key Takeaways Index Options Basics: Index options are financial derivatives based on stock indices like the S&P 500 or the Dow Jones Industrial Average. They give investors the right to buy or sell the entire index rather than a single stock, offering a way to diversify portfolios.European-Style Exercise: Unlike single stock options that might be American-style, index options are European-style, meaning they can only be exercised at expiration. This influences how investors plan their strategies.Hedging and Speculation: Index options are versatile and can be used to hedge stock portfolios against declines or to speculate on the index’s future movements. Strategies…