Author: Mahdeehassan

UAE-based fintech Qashio, the UAE’s leading corporate spend management platform, announced the acquisition of Saudi Arabia’s Sanad Cash for an undisclosed value. The acquisition strengthens Qashio’s expansion into Saudi Arabia, aligning with its long-term commitment to regional fintech growth and the Kingdom’s Vision 2030 digital economy goals. The deal merges Qashio’s spend management technology with Sanad Cash’s local expertise, enabling Saudi enterprises to manage corporate expenses and cards via a fully localised, compliant platform. Press release: Qashio, the UAE’s leading corporate spend management platform, today announced its acquisition of Sanad Cash, one of Saudi Arabia’s first and most established expense…

Al Ansari Exchange LLC, the UAE’s leading remittance and foreign currency exchange service provider, and a subsidiary of Al Ansari Financial Services PJSC, has announced a strategic partnership with Emirates Petroleum Company PJSC “Emarat”, a pioneer in the UAE’s energy retail sector. The partnership aims to expand the range of services offered to customers and enhance integration between key sectors in the country, contributing to improved quality of life and the delivery of practical, innovative solutions. As part of this collaboration, the two entities have launched a campaign titled “One Year of Free Fuel,” offering one lucky winner free fuel…

Al Ansari Financial Services PJSC, a leading integrated financial services provider in the UAE, has signed a Memorandum of Understanding (MoU) with the Dubai Department of Finance (DOF) to accelerate the Dubai Cashless Strategy. This collaboration aligns with the Emirate of Dubai’s ambitious goal to become a fully digitally enabled city by 2026, increasing digital payment transactions in public and private sectors to 90% and enhancing financial inclusion across the population. The signing, which took place during GITEX Global 2025 within the Dubai Government Pavilion, is a significant development in Dubai’s fintech sector. It brings together the innovation and scale…

Dubai, UAE: du, the leading telecom and digital services provider, today announced a strategic partnership with Dubai SME, a government-backed SME enabler, to empower Emirati SMEs through an integrated ecosystem of mentorship programs, grants, joint initiatives, and cutting-edge digital solutions. The announcement was made at GITEX Global 2025, where du is showcasing under the theme “AI’s not just the future. With us, it shapes your next step”. From du’s comprehensive AI platform, several applications that address SME needs are showcased at GITEX Global 2025. Agentic AI chatbots enable small businesses to provide 24/7 customer service and automate routine inquiries without requiring dedicated staff,…

Dubai, UAE – At GITEX GLOBAL 2025, EDGE and the UAE Cybersecurity Council (CSC) signed a Memorandum of Understanding (MoU) to enhance cooperation in cybersecurity and information protection. The agreement was signed by His Excellency Dr. Mohamed Al Kuwaiti, Head of the UAE Cybersecurity Council and Hamad Al Marar, Managing Director and CEO, EDGE. The MoU reflects both entities’ shared commitment to strengthening the UAE’s cyber resilience and advancing national capabilities to detect, deter, and respond to cyber threats. It establishes a framework for collaboration in research and development, information exchange, incident response, and capacity-building across key sectors, in line with the…

Abu Dhabi, UAE: EDGE entity FADA, the UAE’s pioneering space company, has concluded a one-week Space Roadshow through six Emirati schools and universities, in partnership with the UAE Space Agency and Space42. The Space Roadshow highlighted national opportunities in the space sector and inspired the UAE’s next generation of innovators. FADA engaged with students from six institutions: the Higher Colleges of Technology (HCT) – Abu Dhabi Baniyas Campus, HCT – Fujairah Campus, Khalifa University, Abu Dhabi Polytechnic (ADPoly), Kings’ School Dubai, and the International School of Choueifat – Dubai. Under the theme “Living in Space,” FADA delivered workshops and interviews on Earth…

UAE-based Tokinvest, a regulated marketplace for real-world asset (RWA) tokenisation, has closed a $3.2 million pre-seed round backed by VCs, family offices and high-net-worth investors including Triliv Holdings and Exponential Science. Founded in 2024 by Scott Thiel and Matthew Blom, Tokinvest creates virtual tokens representing rights to assets to be offered through its marketplace that connects real-world asset issuers with investors globally. The company has received the first full multi-asset issuance licence from Dubai’s Virtual Assets Regulatory Authority (VARA). The round will support platform growth, regulatory expansion and the onboarding of new asset classes. In July 2024, Tokinvest raised $500,000 in pre-Seed funding…

Abu Dhabi’s artificial intelligence investment platform MGX has participated in a $6.6 billion secondary share sale in OpenAI, marking one of the largest private transactions in the AI sector this year and setting the ChatGPT-maker’s valuation at around $500 billion, according to Reuters. The deal enables OpenAI employees and early investors to monetise part of their holdings. It does not bring in new capital for the company’s operations. The transaction was led by existing institutional investors, including Thrive Capital, SoftBank, Dragoneer, T. Rowe Price, and now MGX, Abu Dhabi’s sovereign-backed vehicle dedicated to artificial intelligence investments. OpenAI, which operates a capped-profit model,…

During the Fintech Forward Forum, SICO BSC (c), a leading regional asset manager, broker, market maker, and investment bank with physical presence in Bahrain, Saudi Arabia, and the UAE announced its appointment by FLOOSS Bahrain B.S.C. (C), Bahrain’s first digital platform providing instant, Sharia-compliant financing and licensed by the Central Bank of Bahrain (CBB) as a financing company, to act as financial advisor and lead manager for a proposed securitization sukuk issuance of up to USD 10 million subject to CBB approval This transaction reflects ongoing efforts to advance shariah compliant capital markets instruments in the kingdom Ali Marshad, SICO’s…

Abu Dhabi – PureHealth Holding PJSC (“PureHealth” or “the Group”) (ADX Symbol: PUREHEALTH), the largest healthcare group in the Middle East, today announced the successful completion of the acquisition of its 60% stake in Hellenic Healthcare Group (HHG), Greece and Cyprus’s leading private healthcare provider, for a total consideration of EUR 800 million. The transaction implies a 100% equity valuation of EUR 1.3 billion for HHG and marks a significant milestone in PureHealth’s strategy to build a globally connected, innovation-driven healthcare platform from its base in Abu Dhabi. Through the integration of HHG’s 11 hospitals and 23 diagnostic centres, PureHealth will…