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Bahrain: Batelco Expands Into the Fintech Sector Area

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Bahrain: Batelco Expands Into the Fintech Sector Area

Bahrain’s telco Batelco has ventured into the monetary innovation (fintech) area. A report suggested the same on Saturday.

The company’s organization has thereby acquired the required licenses already. These licenses, issued from the Central Bank of Bahrain (CBB), for instance.

While the new services would be titled the Batelco Financial Services. It will furnish customers, buyers, and small businesses with possible administrations.

Some include:

  • Digital wallet creation,
  • Cards issuance,
  • Bank accounts aggregation, and
  • Bank account transactions initiation on behalf of customers and third parties.

 

This would be a major step in the innovation across the telecom companies in Baharain. Computerized/digitalized banking and fintech service administrations have gotten progressively mainstream in the GCC.

Recently, Saudi Arabia granted licenses last month to two new computerized banks. Out of which, one of them, owned by Saudi telecom giant, STC. STC being a Saudi Telecom Company.

Last week, Kuwait’s Boubyan Group declared the dispatch of Nomo bank in the UK, as rivalry expansions in the advanced Islamic financial area.

Chief Adel Al-Majed guaranteed in a Twitter post on Wednesday that Nomo will be the world’s first Islamic advanced bank, notwithstanding Zurich Capital Funds Group in April reporting the dispatch of another loan specialist marked as RIZQ/BARAKA. Which, asserted would be the main bank to give all financial administrations on the web and as indicated by Islamic law.

In the UAE, a study by the Boston Consulting Group (BCG) last October, showed that 70% of respondents said they are effectively looking for another bank, and 87 percent said they would open a record with a branchless advanced just loan specialist.

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The demand for Gold peaked in the last three years in the UAE.

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Gold rates dubai 2022

Gold is showing incredible strength even in 2022. Once again, the demand for Gold peaked. It is currently at the highest level. Data shows the market of Gold is most elevated in the last three years. Many forces are supporting gold demand this year too. 

Gold prices in the UAE rise

Gold prices in the UAE rise

Rise of Gold at the top in 2022:

This yellow metal continues to outperform. This year it is standing at three years’ highest level demand. The demand for Gold in UAE is at its peak. According to the World Gold Council, the market for Gold reached 1,147 trillion in Q4 2021. Its highest quarterly level since Q2 2019, and an upsurge of almost 50 percent year-on-year.

Annual demand, excluding OTC markets, has healed many of the Covid-19 caused losses from 2020 to reach 4,021 trillion for the entire year in 2021.

The gold bar and coin market rose 31 percent to an eight-year high of 1,180 trillion. Retail investors desired a haven against the background of growing inflation and constant economic pause caused by the coronavirus pandemic.

World Gold Council’s Data 2021-22:

The World Gold Council’s data series registered outflows of 173 trillion in 2021 from gold-backed ETFs. Some investors decreased barriers early in the year amid vaccine rollouts, while growing interest rates made maintaining Gold more expensive.

The 2,200 trillion that gold ETFs have gathered over the preceding five years indicates investors’ continuing priority on including Gold in their portfolio. 

Q4 demand surpassed its highest level since Q2 2013. A quarter where the cost of Gold was 25 percent lower than the average relative price in 2021. This underlining the power and demand of Gold in the most recent quarter.

According to the World Gold Council, growing inflation and the post-pandemic economic tension have sent demand for Gold to a two-year high.

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

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Saudi Arabia plans to host the 14th Edition of the Global Oil and Gas Conference. 

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iptc event 2022 saudi arabia

IPTC to be organize in Saudi on 2022 Feb 21 to 23. Saudi Arabia plans to organize the 14th Edition of the Global Oil and Gas Conference. 

itpc logo

iptc logo

It’s official that IPTC event or say a meeting of Oil and petroleum is in Saudi. Date is on 2022 Feb 21 to 23. The 14th Edition of the Global Oil and Gas conference in Saudi will allow Saudi to showcase why this nation is in top countries. 

Crown prince Mohammed Bin Salman is the visionary behind this event. The entire 14th Edition of the oil and gas conference will have Saudi Aramco serving as the exclusive host.

IPTC 2022:

This conference will see regional energy ministers, top industry tycoons, top govt dignities, and all will discuss views. “IPTC 2022 will show the energy sector’s stability, ecosystem evolution, and technological progress. It shows the power in one of the most difficult times of our industry,” the event’s executive committee chair, Nasir Al Naimi, said. 

“The conference will emphasize how invention and technology. It can lead the initiative to develop endurable solutions to achieve development within the limits of a circular economy,” he added.

The event shall draw over 18,000 attendees from more than 70 countries to dive over 500 various topics. 

It is a joint effort among the American Association of Petroleum Geologists. The European Association of Geoscientists and Engineers is also involve in this event. The Society of Exploration Geophysicists and Petroleum Engineers will participate in this event.

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Fir against Sundar Pichai in Mumbai India, Copyright related case.

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suneel darshan FIR on google sundar pichai

Breaking news coming from India. Tech giants like Sunder Pichai and five others are in trouble. Fir against Sundar Pichai in Mumbai, creating a buzz in the tech world. 

fir on google in India

As per the Indian local news, Fir against Sundar Pichai in Mumbai. The case is related to Copyrights. Not only Google, but it is against five other tech giant employees. 

FIR is done in Mumbai against Sundar Pichai. It is a copyright violation case. According to Mumbai Police, the case connects to uploading a film, Ek Haseena Thi Ek Deewana Tha, on YouTube without a contract or consent from the producer and director. The MUMBAI police plan to issue summons to Pichai and other officials mentioned in the FIR.

Google Spokesperson:

As per news sources, A Google spokesperson told various news agencies in India that it counts on copyright owners to notify about unauthorized uploads. It also feeds them ‘rights management tools, including YouTube’s content ID system, providing they can automatically “recognize, block, boost and even make money from uploads of their content.”

When a copyright holder notifies the company of a video that violates their copyright, “we terminate the content promptly obeying the law and remove the account of users with multiple copyright walkouts,” said the spokesperson.

The suer had provided a CD of the alleged violation to the court. The judge viewed it and discovered a prima facie case of copyright infringement.

Get all the latest UAE Market news only on Arab Market news. Your own trust-able news portal which brings all the latest news of UAE, Dubai and world business news.

 

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