GCC expects to see fresh round of M&As in banking sector
This year will see Islamic and conventional banks will shift focus to maintain their asset quality over business expansion
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UAE-based fintech Ziina secures $850,000 funding, launches payment app
The funding round for Ziina was led by San Francisco based Class 5 Global with participation from Samih Toukan’s Jabbar Internet Group
Opec Fund launches $100 million trade finance facility in Africa
Its trade finance facility aims to encourage import and export of strategic commodities and capital goods in Africa
Fliqpay launches cryptocurrency payment gateway in Africa
Its payment gateway will be launched in Nigerian Naira, Kenyan Shillings, Ghanaian Cedis and South African Rand
Scottish Power set to work on wind farms to scale up energy sector
It seeks to develop a clean energy system in central Scotland as part of a £150 million scheme
Flutterwave’s new ecommerce portal supports African merchants
Flutterwave Store will initially operate in 15 countries including Nigeria, Ghana, Kenya and South Africa
IFC expects decline in foreign direct investments in Kenya
Foreign direct investments is estimated to drop at least 40 percent in 2020 and 2021 from its 2019 baseline
Revolut hires new Singapore CEO to boost Asia business
Revolut has appointed Mr James Shanahan who was previously the COO of insurtech Singapore Life
Saudi plans to increase VAT from 5% to 15% from July onward
It will also will discontinue cost of living allowance starting next month
Emirates to raise debt to survive coronavirus crisis
The carrier said a recovery in travel was at least 18 months away