Category: Middle East

AI, Infrastructure, Innovation, Microsoft, Middle East, Military, productivity, Progress, Security

Coreweave joins ‘hyperscaler’ group

Colin Henderson

Research: CoreWeave’s AI Infrastructure and Market Position They have particular differentiation in 3. Infrastructure Differentiation. it is designed explicitly to operate with GPU infrastructure, and seed investment from Nvidia cements this. They have been around for eight years(8) years but still have startup characteristics. Their debt profile is high and rates are astronomic. They are working with Bank of America to refinance $1.5Bn debt. Their efforts in Spain are spectacular and Spain in particular is in dire need of high tech support. The facility was inaugurated today by the Mayor of Barcelona, Jaume Collboni, and Albert Tort, Secretary of Telecommunications and … Continue reading Coreweave joins ‘hyperscaler’ group

AI, Geopolitics, Middle East

Iraqi Banks Used U.S.-Created System to Funnel Funds to Iran

Colin Henderson

New York Fed’s process to move Baghdad’s oil earnings lacked key money-laundering safeguards, resulting in illicit transfers that financed terrorist groups for years David S. CloudSept. 8, 2024 at 9:00 pm ET His three Baghdad banks wired tens of billions of dollars in that time outside the country, ostensibly for car parts, furniture and other imports. He was one of the biggest operators in an ad hoc banking system set up around two decades ago under the U.S. occupation that gave the Federal Reserve Bank of New York a key role in processing Iraq’s international transactions.  Years later, when the … Continue reading Iraqi Banks Used U.S.-Created System to Funnel Funds to Iran

Middle East

Iraqi Special Forces during an operation against ISIS fighters in the desert of Anbar, Iraq, in 2022.Credit…Thaier Al-Sudani/Reuters

Colin Henderson

By Eric Schmitt Eric Schmitt covers U.S. national security issues, including military affairs and counterterrorism. Sept. 3, 2024Updated 6:51 p.m. ET American and Iraqi commandos raided several Islamic State hide-outs in western Iraq last week, killing at least 14 ISIS fighters in one of the most sweeping counterterrorism missions in the country in recent years. Seven U.S. soldiers were injured as more than 200 troops from both countries, including backup forces, hunted down fighters in bunkers over miles of remote terrain, U.S. and Iraqi officials said, adding that the size, scope and focus of the mission underscored the terrorist organization’s resurgence in … Continue reading Iraqi Special Forces during an operation against ISIS fighters in the desert of Anbar, Iraq, in 2022.Credit…Thaier Al-Sudani/Reuters

Middle East2 Comments

Borse Dubai launches $4bn bid for OMX

Colin Henderson

The Dubai Stock Exchange has launched an effort to purchase the Nordic/ Baltic market.  This is reminiscent of the issues last year, with the UAE firm trying and being blocked from managing the American ports. Finextra: Borse Dubai launches $4bn bid for OMX Borse Dubai has launched an unsolicited $3.98 billion (SKr27.7bn) bid for OMX, trumping Nasdaq’s offer for the Nordic and Baltic market operator. Shares in OMX were suspended on Friday morning amid frenzied speculation that Borse Dubai was gearing up to launch a formal takeover bid. Borse Dubai – a holding company for the Dubai International Financial Exchange … Continue reading Borse Dubai launches $4bn bid for OMX

Middle East

Business General Gulfnews.com | Media targeting a divided audience

Colin Henderson

As much as we think we have issues with marketing in North America, its not as bad as elsewhere, and indications are that it will only become more irrelevant to follow old methods.  Within the Banking industry there generally remains a resolve to ignore the evolution that is happening, and its useful to watch reactions in other countries as a reminder.  Within the Middle East, particularly UAE, and Saudi Arabia, where internet is relatively newer, there are lessons in watching and listening. Consumers in Saudi Arabia have more devices per household that US, and even India is close, despite being … Continue reading Business

General

Gulfnews.com | Media targeting a divided audience

Middle East, Wireless2 Comments

For Low income Un-banked | Emirates Bank to Launch Global Remittance Services through SMS Technology and Salary Cards

Colin Henderson

Mobile payments around the world continue to evolve more rapidly than North American or European Banks, with a few exceptions, are adapting to. This example, form Emirates Bank in Dubai, is aimed at unbanked in the Middle East is a classic example. It is provided by a North American company. Emirates Bank Group In a pioneering effort to provide financial services to the thousands of un-banked people across UAE, Emirates Bank has signed an agreement with Infospan Inc, a California based technology company, to launch a unique global service that will enable users to send and receive money instantly around … Continue reading For Low income Un-banked | Emirates Bank to Launch Global Remittance Services through SMS Technology and Salary Cards

Middle East1 Comment

UAE online banking provides some useful examples

Colin Henderson

Some startlingly high statistics from Habib Bank AG Zurich on their online banking in UAE. The market there is interesting to watch, because they got a later start that North America and Europe, but they are generally going straight to what we might consider full multi channel solutions. UAE MONEYworks – Online Banking MW: Do you have any up to date figures on how many people in the UAE are using online banking? Or any form of online financial transaction? SP: What we can tell you is 65.22 per cent of HBZ credit customers and 55.06 per cent of the … Continue reading UAE online banking provides some useful examples

Middle East1 Comment

UAE onlinie banking provides some useful examples

Colin Henderson

Some startlingly high statistics from Habib Bank AG Zurich on their online banking in UAE.  The market there is interesting to watch, because they got a later start that North America and Europe, but they are generally going straight to what we might consider full multi channel solutions. UAE MONEYworks – Online Banking MW: Do you have any up to date figures on how many people in the UAE are using online banking? Or any form of online financial transaction? SP: What we can tell you is 65.22 per cent of HBZ credit customers and 55.06 per cent of the … Continue reading UAE onlinie banking provides some useful examples

Middle East

Dubai becomes Iran’s business hub

Colin Henderson

 Interesting perspective that the mainstream Western News has missed.  DUBAI, United Arab Emirates — “Dubai is the most Iranian of cities,” said Mohammed Reza, an Iranian expatriate who has lived in the Gulf emirate across the waters from the Islamic republic since 1998. According to the Iranian consulate in Dubai, at least 400,000 of the UAE’s 4.1 million residents are Iranian. The numbers have almost doubled since 2003. Iran’s status as an international pariah, which has increased since President Mahmoud Ahmadinejad’s election in 2005, has forced many nationals overseas. Source: Dubai becomes Iran’s business hub – Business – Middle East … Continue reading Dubai becomes Iran’s business hub

Middle East

Iran Debuts Online Banking

Colin Henderson

BankNet 360 – Iran Debuts Online Banking For the first time ever, Iran is offering online banking services. The Post Bank of Iran, based in Tehran, Iran, will offer 24-hour service to its web customers, allowing them to access financial services online as well as make internet purchases accessing funds in their Post Bank accounts. To promote and stimulate e-banking, the service will be open to one million of the best students in Iran. Mohammad Soleimani, Iran’s minister of Information and Communications Technology, said Iran’s fiber optic infrastructure is ready to develop digital communications and electronic banking. A specialized government … Continue reading Iran Debuts Online Banking