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UAE-based PlaysOut has secured $7 million in a seed funding round led by KBW Ventures to expand its mini-game ecosystem, valuing the company at $70 million. The funding will enhance its blockchain-powered mini-game engine, targeting growth in the US, MENA, and Asia.Meanwhile, ORO Labs raised $1.5 million to transform gold into a yield-generating asset through blockchain technology, allowing users to earn yield and trade gold-backed assets. The startup aims to bridge traditional gold markets with Web3 finance, leveraging the UAE's robust gold trade environment.
UAE-based PlaysOut has secured $7 million in a seed funding round led by KBW Ventures to expand its mini-game ecosystem, valuing the company at $70 million. The funding will enhance its blockchain-powered mini-game engine, targeting growth in the US, MENA, and Asia.Meanwhile, ORO Labs raised $1.5 million to transform gold into a yield-generating asset through blockchain technology, allowing users to earn yield and trade gold-backed assets. The startup aims to bridge traditional gold markets with Web3 finance, leveraging the UAE's robust gold trade environment.
Qatar Airways' CEO Badr Al Meer announced that profits for 2024-25 are expected to surpass previous years. While specific budget details for the latest expansion project remain confidential, he emphasized that the expansion will increase operating costs but ultimately add value and enhance annual net profit.
Qatar's Hamad International Airport has successfully launched two new concourses ahead of schedule, marking a significant expansion. This development aims to enhance capacity, strengthen the Qatar Airways network, improve operational resilience, and support the nation's economic growth in alignment with the Qatar National Vision 2030.
Baker Hughes is capitalizing on the growing demand for data centers driven by generative AI, offering off-grid power solutions through its NovaLT turbines. The company anticipates significant growth in its Climate Technology Solutions, targeting $6 billion to $7 billion in orders by 2030, while aiming for 20% EBITDA margins by 2026 through improved pricing and productivity.
GCC banks are poised for strong performance in 2025, driven by robust capital strength, economic diversification, and significant project pipelines. With GDP growth projected at 3.5% and improved credit conditions following US monetary easing, the sector is set to benefit from rising credit growth and stable margins. Key markets like Saudi Arabia and the UAE are experiencing strong loan growth and deposit inflows, while Qatar's banks remain well-capitalized to support expansion.
Latigo Biotherapeutics has secured USD 150 million in Series B funding, led by Blue Owl Capital, with significant participation from the Qatar Investment Authority (QIA) and other investors. The funding will accelerate the development of Latigo's selective Nav1.8 inhibitors for non-opioid pain treatment and expand its drug pipeline. CEO Nima Farzan emphasized the urgent need for innovative non-opioid pain solutions, highlighting the potential to transform the treatment landscape.
Manchester United has announced a 5% increase in season ticket prices for the 2025-26 season, despite calls from fan groups for a freeze. While under-16 ticket prices remain unchanged, the club is introducing a new pricing structure for high-profile matches. This decision comes amid ongoing financial challenges, with cumulative losses of £410 million over the past seven years.
Forbes Middle East has unveiled its Top 40 Asset Managers for 2025, highlighting leaders who collectively managed over $439 billion in assets in 2024. Rashed Sharif of SNB Capital retains the top spot with $63.73 billion in AUM, followed by Mohammed Alardhi of Investcorp at $53 billion. Saudi Arabia dominates the list with 19 representatives, showcasing the region's growing influence in real estate, sukuk, and private equity.
Belgian authorities have raided multiple locations, including Huawei's Brussels offices, as part of a corruption investigation involving allegations of bribery, money laundering, and document forgery aimed at influencing EU lawmakers. The European Parliament has confirmed its cooperation with the probe, while Huawei has stated its commitment to compliance and transparency. This investigation has drawn comparisons to the 2022 Qatargate scandal, highlighting ongoing concerns about ethics and lobbying practices within the EU Parliament.
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UAE startup PlaysOut secures 7 million dollars to expand mini-game ecosystem
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15:28 23.03.2025
UAE startup PlaysOut secures 7 million dollars to expand mini-game ecosystem
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Qatar Airways anticipates improved profits amid terminal expansion plans
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qatar airport expansion enhances capacity and supports economic growth
03:46 20.03.2025
baker hughes expands data center solutions amid rising energy demands
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GCC banks poised for growth in 2025 amid economic reforms and projects
11:04 18.03.2025
Latigo Biotherapeutics raises 150 million dollars for non-opioid pain treatments
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04:29 18.03.2025
middle eastern asset managers shape financial landscape with significant growth and innovation
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08:31 17.03.2025
belgian authorities raid huawei in corruption investigation involving eu lawmakers
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21:01 14.03.2025
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