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Dubai-based fintech startup Fuse has secured $6.6 million in seed funding to tackle payment challenges for businesses entering the MENA region. The funding round, led by Northzone, includes contributions from Flourish Ventures and angel investors like Flutterwave CEO Olugbenga Agboola. Founded in 2023, Fuse offers a payments infrastructure platform with virtual International Bank Account Numbers (IBANs), enabling cross-border transactions without the need for a local entity. The company plans to use the funds to expand its team, obtain regional licenses, and diversify its product offerings.
Doubts are rising over the Labour government"s growth agenda, with analysts warning of potential tax increases next year if economic reforms fail to stimulate growth. Despite recent measures aimed at boosting investment, the U.K. economy showed minimal growth, prompting concerns about the sustainability of public services funding. The Chancellor faces a challenging balance between maintaining tax revenues and encouraging business investment, with future tax changes likely contingent on economic performance against forecasts.
European markets are poised to open lower as investors digest U.S. Federal Reserve Chair Jerome Powell's hawkish remarks and await new U.K. GDP data, which showed a 0.1% growth in Q3, below expectations. The U.K. inflation rate fell to 1.7%, enabling a recent interest rate cut by the Bank of England. Meanwhile, Labour's Finance Minister announced reforms aimed at stimulating growth, with warnings of potential tax increases if progress is not made.
The Australian EV market is experiencing a paradox with new electric vehicle launches coinciding with declining sales, attributed to high inflation and consumer hesitation. Despite a surge in sales for the MG4, overall BEV penetration has dropped to 6.8%, while New Zealand mirrors this trend with stable penetration rates and lingering inventory issues. As over 40 new EVs are expected by 2026, the market anticipates a pivotal shift in consumer sentiment and sales dynamics.
James Smith
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Dubai fintech startup Fuse secures 6.6 million dollars in seed funding
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electric vehicle market trends in australia and new zealand october update
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