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UBS is advised to consider relocating from Switzerland as a contingency plan due to potential regulatory challenges. Analyst Stefan Stalmann suggests moving the option from "Plan D" to "Plan B," with New York identified as the most favorable destination. UBS may face a need for up to $30 billion in additional equity capital, and a shift away from its Swiss base could risk losing a significant portion of its $2.1 trillion in assets under management.
The UAE is set to launch its digital dirham in the fourth quarter of 2025. This initiative marks a significant step towards modernizing the country's financial landscape and enhancing digital transactions. The rollout is anticipated to transform the way citizens and businesses engage with currency.
Presight has partnered with Microsoft to enhance its AI-Startup Accelerator, aimed at empowering AI startups in the UAE. The program provides access to advanced technology, mentorship, and funding opportunities, enabling startups to refine their products and scale globally. Microsoft will contribute technical expertise and resources through its Founders Hub, fostering innovation within the G42 ecosystem.
Oman has granted Starlink Muscat a Class 1 license to provide nationwide satellite internet, expanding its services in the Middle East. The low-Earth orbit satellites will deliver high-speed broadband, reaching remote areas and supporting key sectors like oil, gas, and tourism. Starlink plans to launch in Kuwait, Bahrain, and Jordan in 2025, while services in Saudi Arabia and the UAE await regulatory approval.
The Central Bank of the UAE has introduced a new symbol for the dirham, inspired by the letter "D" and reflecting national pride, alongside the launch of a digital dirham built on blockchain technology. This initiative aims to enhance financial stability, promote inclusion, and drive innovation in the financial sector, with the digital currency recognized as a universal payment method. The digital dirham will be accessible through licensed financial institutions, facilitating a seamless experience for both digital and traditional transactions.
Presight has partnered with Microsoft to launch the Presight AI-Startup Accelerator in the UAE, aimed at supporting promising AI startups. The program offers access to advanced technology, mentorship, and funding opportunities, helping startups refine their products and achieve market readiness. Applications for the accelerator close on April 10, 2025.
NKN Media has raised AED 35 million and plans to secure an additional AED 50 million to fuel its global expansion and develop new intellectual properties. Celebrating five years in Dubai, the company is set to launch a global tour and has a lineup of significant events in 2025, including the Ultimate Realty Awards and the debut of Majlis Premium, a startup fundraising forum. Additionally, NKN Media is expanding into inflight media and OOH sectors, aiming to enhance its presence in high-impact media segments.
Gulf banks can reduce compliance costs by over 20% by investing in AI and cloud technologies, according to Finastra. As regulatory demands increase, banks must modernize outdated systems to enhance efficiency, improve real-time risk management, and gain a competitive edge. Early adopters of these technologies will benefit from cost savings and long-term resilience.
Lumi AI, a UAE-based startup, has raised $3.7 million in seed funding to enhance its AI-driven conversational analytics platform, aimed at transforming complex supply chain data into actionable insights without requiring technical expertise. Founded in April 2023, Lumi AI addresses inefficiencies in traditional business intelligence tools, enabling users to generate customized reports through natural language queries. With a diverse customer base and strong demand across various sectors, the company plans to expand its engineering and customer success teams while developing its multi-agent analytics engine.
Global poultry trade is projected to remain robust in 2025, driven by tight protein supply and rising consumption, despite challenges from avian influenza and geopolitical tensions. While most regions experience profitable conditions, China faces economic difficulties and oversupply issues. Vaccination against avian flu is gaining traction in several countries, with successful implementations noted in France and parts of Asia and Latin America.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs considers relocation as regulatory pressures mount in switzerland
15:42 28.03.2025
UAE plans to launch digital dirham by fourth quarter of 2025
13:35 28.03.2025
presight and microsoft launch accelerator program for ai startups
12:17 28.03.2025
Oman grants Starlink license for nationwide satellite internet services
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UAE introduces new dirham symbol and launches digital currency initiative
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gulf banks poised to cut compliance costs with ai and cloud technology
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lumi ai secures 3.7 million to transform supply chain analytics with ai
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global poultry trade remains strong amid avian influenza and geopolitical tensions
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18:59 27.03.2025
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