How Digital Disruption is Impacting Traditional Banking in the Middle East?
Digital banks in UAE, Kuwait, and Saudi Arabia are posing significant challenges and opportunities for traditional banks in the region. While the prevalence of cash payments remains high, recent government policies, regulatory initiatives, and the outbreak of the COVID-19 pandemic are spurring rapid changes in the payments landscape. According to a survey conducted by McKinsey, 90% of payment practitioners believe that the shift toward digital payments will be permanent. Nonbank payment providers are predicted to emerge victorious by 60% of survey respondents, highlighting the importance of traditional banks prioritizing digitizing customer journeys and investing in fintech to remain relevant in this dynamic space.
Annual Investment Meeting 2023 to Explore the Role of Digital Technology in Designing Future Cities
The Annual Investment Meeting 2023 (AIM Global 2023), supported by the Ministry of Industry and Advanced Technology in partnership with the Abu Dhabi Department of Economic Development (ADDED), will explore the future of urban development and how important employing innovative solutions and digital technology is in building smarter and more sustainable cities that can withstand future challenges.
Major UK companies plan 2022 investment surge – Deloitte
Major British companies plan a surge in investment in 2022 to meet strong demand and respond to climate change against a backdrop of growing labour shortages, according to a survey from accountants Deloitte.
Italy’s Enel spins off new firm for digital grid services – report
ROME, Sept 23 (Reuters) – Europe’s biggest utility Enel (ENEI.MI) has set up a new company dedicated to digital grid services, which aims to have a revenue of 1.5 billion euros ($1.76 billion) by 2030, newspaper Il Sole 24 Ore reported on Wednesday. The spinoff, Gridspertise, will manage all activities related to digital meters and intelligent grid […]
Five9 investors may do Zoom a favor
NEW YORK, Sept 22 (Reuters Breakingviews) – Zoom Video Communications’ (ZM.O) acquisition of Five9 (FIVN.O) is unraveling. Washington watchdogs are probing the transaction and Five9 investors may not vote for the all-stock deal read more. The value of what Zoom is offering has fallen from $13.6 billion to about $10.4 billion in roughly two months and is now below Five9’s market capitalization. […]
Tencent-backed Linklogis, Sunway to jointly seek Malaysia digital bank licence-sources
Malaysian conglomerate Sunway Bhd (SWAY.KL) has teamed up with Tencent-backed Chinese fintech firm Linklogis Inc (9959.HK) and Bangkok Bank PCL (BBL.BK) to apply for a Malaysian digital bank licence, two sources with knowledge of the matter said.
Siemens raises growth target with digital drive
Siemens (SIEGn.DE) unveiled targets on Thursday to outpace the market by combining its core engineering business with digital expertise in the first strategic blueprint under new Chief Executive Roland Busch.
eCom Scotland’s investments in digital skills professionals pay off
In the light of growing demand for its products and services – taking its current turnover beyond pre-pandemic levels – the digital learning and assessment specialist, eCom Scotland is continuing growing its investment in skilled digital skills professionals.
Etsy eyes Gen-Z shoppers with $1.63 bln deal for fashion reseller Depop
Etsy Inc (ETSY.O) said on Wednesday it would buy Generation-Z focused fashion resale company Depop for $1.63 billion, seeking to attract younger shoppers and bolster its position in a booming market in vintage or used clothing.
Bitcoin recoups some losses after Musk-triggered tumble
Bitcoin popped back above $50,000 in Asian trade on Thursday, clawing back some of the 17% plunge that followed Elon Musk’s tweet that Tesla Inc (TSLA.O) would stop accepting the digital tokens as payment for its cars. The price of the world’s largest cryptocurrency dropped from around $54,819 to $45,700, its lowest since March 1, in just under two […]
