Author: Arabian Media staff
Dubai Chambers has signed a Memorandum of Understanding (MoU) with Emirates Development Bank (EDB) to enhance support for startups and small and medium-sized enterprises (SMEs), providing greater access to financing and tailored banking solutions. The agreement includes funding for new and existing projects, as well as capital expenditure requirements, while also supporting the establishment of new businesses in Dubai. It further enables the opening of bank accounts for local firms and multinational companies, including SMEs, easing the setup process in the emirate. Dubai startup banking support Under the MoU, Dubai Chambers and EDB will cooperate on initiatives to strengthen competitiveness,…
Dubai has unveiled a flagship three-month accelerator programme in partnership with global innovation leader Plug and Play, designed to propel ambitious post-revenue startups into their next stage of growth. Launched by the Dubai Department of Economy and Tourism (DET) and the Chamber of Digital Economy, the initiative is now open for applications and embeds high-potential startups directly into Dubai’s corporate innovation ecosystem. Participants will gain access to top-tier corporates, expert mentors, investors, and market opportunities across the region. Plug and Play support Dubai startups The inaugural cohort will focus on trade and logistics; connectivity and digital solutions; and fintech —…
Key Takeaways While overall divorce rates are declining, the divorce rate among adults 65 and older is steadily increasing. Thirty-five percent of baby boomers said that divorce would derail or set back their retirement plans. Recovering from a gray divorce requires a clear picture of your finances and a new, individualized retirement plan. Americans are living longer, but that doesn’t mean their marriages last longer too. Divorces are becoming more common for older adults, forcing them to reimagine their futures after decades of shared financial planning. The 2025 Annual Retirement Study from the Allianz Center for the Future of Retirement…
Image: Supplied Citi has announced the rollout of its advanced Artificial Intelligence (AI) tools across its operations in the UAE and the wider Middle East and Africa (MEA), underscoring the bank’s commitment to innovation and digital transformation. “The launch of our AI tools in the UAE and in MEA is a testament to Citi’s unwavering commitment to embracing cutting-edge technology to better serve our clients and empower our employees,” said Maria Ivanova, UAE and North Africa & Levant sub-cluster and banking head. “These advancements will not only boost our overall productivity but also foster a new era of innovation and…
Alinma Bank has announced a strategic investment and partnership with Qashio, the MENA region’s leading spend management and corporate card platform, reinforcing its commitment to delivering advanced digital financial solutions that drive efficiency for corporate clients. The move officially adds Qashio to Alinma Bank’s growing fintech portfolio, which already includes Amwal Tech, Ejari, Lean Technology, NearPay, and several local VC funds. This partnership aims to enhance and expand the existing collaboration between the two entities, with a focus on building a comprehensive spend management platform tailored to SMEs and corporates. Qashio’s loyalty ecosystem further enriches the offering by providing access…
This article is an on-site version of Free Lunch newsletter. Premium subscribers can sign up here to get the newsletter delivered every Thursday and Sunday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersLast year, I praised two reports about the EU’s economic challenges by former Italian prime ministers Enrico Letta and Mario Draghi — but wrote that “Brussels is the place where good reports come to die”. I am pleased to admit that I was wrong in this case. Neither report has died, even though far too little of either has been implemented. This week’s anniversary…
Image: MBC Group Saudi Arabia’s Public Investment Fund (PIF) has completed the acquisition of a 54 per cent stake in MBC Group Company, the leading media and content producer in the Middle East and North Africa, through a private transaction with Istedamah Holding Company. Under the deal, PIF purchased 179.55 million shares for SAR7.469bn ($1.992bn), at SAR41.60 per share. MBC Group reaches approximately 150 million viewers weekly across the globe, offering a range of content including entertainment, drama and sports. MBC stake key to PIF’s focus on media sector The acquisition underscores PIF’s continued focus on the media sector as…
Tensor, an agentic AI company, will unveil the Tensor Robocar, the world’s first personally owned Level 4 autonomous vehicle, at the Dubai World Congress for Self-Driving Transport 2025, one of the UAE’s premier global innovation platforms. The event will mark the company’s first public showcase in the Middle East, underscoring a major milestone in Tensor’s mission to transform mobility. Developed over a decade of proprietary engineering, advanced AI, and ground-up autonomous design, the Tensor Robocar redefines personal transportation by combining freedom, privacy, and true ownership of AI. “When the world shifts, how will you move?” said Amy Luca, chief marketing…
Image: Meta Meta Platforms on Wednesday launched its first consumer-ready smart glasses with a built-in display, seeking to extend the momentum of its Ray-Ban line, one of the early consumer hits of the artificial intelligence era. CEO Mark Zuckerberg showed off the Meta Ray-Ban Display and a new wristband controller, receiving applause at Meta’s Connect event despite some demo problems. Meta has tasted success with its smart glasses, and Zuckerberg described them as the perfect way for humans to reach for the AI promise of “superintelligence.” “Glasses are the ideal form factor for personal superintelligence, because they let you stay…
Image credit: Getty Images Gold prices extended losses on September 18, as the dollar firmed after the US Federal Reserve cut interest rates by an expected quarter of a percentage point and adopted a measured rhetoric on further policy easing. Spot gold dipped 0.6 per cent to $3,637.41 per ounce, as of 0636 GMT, after hitting a record high of $3,707.40 on Wednesday. Read more-US Fed cuts rates for first time this year: How it will impact the GCC US gold futures for December delivery slipped 1.2 per cent to $3,671.30. “The general message from the Fed was slightly to…