CEA International LLP Advises GMEX Group on its Investment Round Led by Burkhan’s Tempus Network

CEA International LLP Advises GMEX Group on its Investment Round Led by Burkhan’s Tempus Network

TAMPA, Fla. & LONDON – CEA International LLP (“CEAI”) acting as advisor to GMEX Group Limited (“GMEX”) in its equity financing round, announced today that lead investor terms have been secured for an undisclosed amount. The deal is expected to close during June 2022 subject to necessary approvals with participation from other strategic and institutional investors joining the investment round. CEA International LLP is the London based subsidiary of US-headquartered CEA Group (“CEA”), a leading technology investment banking and advisory firm, providing transaction advice to the world’s top entrepreneurs and…

Finbots.AI Raises USD 3 Million from Accel in Series A Round

Finbots.AI Raises USD 3 Million from Accel in Series A Round

DUBAI, United Arab Emirates – Finbots.AI, an Artificial Intelligence-envisioned firm bringing innovation to banks and financial institutions, announced it has raised a successful Series A round of USD 3 Million. This round saw the participation of a single investor – Accel. India drives all of the global development and support for Finbots.AI which has its corporate headquarters in Singapore and a regional head office in Dubai. With this fundraise, Finbots.AI will look towards accelerating product enhancement, marketing and sales, and customer support. The firm is also looking to recruit senior…

Accutar Biotechnology Receives NMPA Clearance of IND Application for AC0682 in ER-Positive Breast Cancer

Accutar Biotechnology Receives NMPA Clearance of IND Application for AC0682 in ER-Positive Breast Cancer

BROOKLYN, N.Y. & SHANGHAI–(BUSINESS WIRE/AETOSWire)– Accutar Biotechnology, Inc., a clinical stage biotechnology company focusing on artificial intelligence (AI)-empowered drug discovery, announces that the China National Medical Products Administration (NMPA) has cleared the company’s investigational new drug application (IND) for AC0682 for the treatment of patients with estrogen receptor (ER)-positive breast cancers. AC0682 is an orally bioavailable chimeric degrader molecule designed to target ERα protein with high potency and selectivity. “Breast cancer is the most common cancer among women in China. We are excited about the IND clearance of AC0682 in…

DA Reveals Near Full Consumer Confidence in the Saudi Arabian Economy

DA Reveals Near Full Consumer Confidence in the Saudi Arabian Economy

Dubai, United Arab Emirates Economic incentives, oil price improvements, and positive public news has caused overall consumer confidence in Saudi Arabia to spike to 48.4% Business sentiment has risen sharply by 3.8% and is one of the primary beneficiaries of economic confidence The GCC overall rebounded well to see net consumer confidence increase 0.7% in February to 58.1% The February report, produced and developed by D/A, utilises AI technology to measure consumer confidence amongst over 100 million Arabic data-points in the GCC The latest research by leading consumer intelligence company, D/A,…

DA’s February Report Says Concerns Around Taxation were Short-Lived as UAE Consumer Confidence Remains Net Positive

DA’s February Report Says Concerns Around Taxation were Short-Lived as UAE Consumer Confidence Remains Net Positive

Dubai, United Arab Emirates Consumer confidence in the UAE dipped to 70.9% in February, however, it is expected to rebound quickly because of long-term consumer optimism surrounding the country’s economy Short-term negativity during February, a result of the private company income tax announcement, was quickly replaced as the news cycle moved on with early indicators predicting a return to growth The GCC rebounded well to see net consumer confidence increase 0.7% in February to 58.1% The February report, produced and developed by D/A, utilises AI technology to measure consumer confidence amongst…

Veracode Announces Significant Growth Investment from TA Associates

Veracode Announces Significant Growth Investment from TA Associates

BURLINGTON, Mass.–(BUSINESS WIRE/AETOSWire)– Veracode, a leading global provider of application security solutions today announced that TA Associates (“TA”), a leading global growth private equity firm, has signed a definitive agreement to make a significant growth investment in the company. Veracode’s current majority investor, Thoma Bravo, a leading software investment firm, will retain a minority position in the business. The transaction, which values Veracode at $2.5B, is expected to be completed in Q2 2022, subject to customary closing conditions. An eight-time leader in the Gartner Magic Quadrant for Application Security Testing,…

Best’s Market Segment Report: AM Best Revises Gulf Cooperation Council Insurance Outlook to Stable

Best’s Market Segment Report: AM Best Revises Gulf Cooperation Council Insurance Outlook to Stable

LONDON–(BUSINESS WIRE/AETOSWire)– AM Best is revising its market segment outlook for the insurance markets of the Gulf Cooperation Council (GCC) region to stable from negative. Key factors contributing to the change in outlook include the economic recovery experienced across the region driven by rallying oil prices and the subsequent increased growth opportunities this brings the insurance sector, as well as the demonstrated resilience of insurers’ balance sheets. A new Best’s Market Segment Outlook, titled, “Market Segment Outlook: Gulf Cooperation Council Insurance,” notes that the resurgence in demand for oil and the resultant buoyant…

AM Best Named Rating Agency of the Year at the MENA Insurance Awards 2022

Best’s Market Segment Report: AM Best Revises Gulf Cooperation Council Insurance Outlook to Stable

LONDON–(BUSINESS WIRE/AETOSWire)– AM Best has been named Rating Agency of the Year at the MENA Insurance Awards 2022. The event was held at the Dubai International Financial Centre. The awards acknowledge outstanding achievements of insurance professionals across the Middle Eastern and North African markets. Matthew Mosher, president and CEO of AM Best Rating Services, said, “This award is a tribute to the hard work of the many employees in AM Best’s EMEA offices. It is a reflection of their knowledge and understanding of the (re)insurance industry in the Middle East and North…

D/A’s January Report Reveals a 12-month High in Consumer Confidence in the Saudi Economy and UAE’s Private Sector

D/A’s January Report Reveals a 12-month High in Consumer Confidence in the Saudi Economy and UAE’s Private Sector

Dubai, United Arab Emirates In Saudi Arabia, consumer sentiment in the economy is returning to near full confidence at 91.3% positivity as per the January Sila Consumer Sentiment Index report Tourism activity driven by enthusiasm surrounding Expo 2020 Dubai and some of the highest hotel occupancy rates in the world, supporting a 1.5% month-on-month uptick in overall UAE consumer confidence The January report, produced and developed by D/A, utilises AI technology to measure consumer confidence amongst over 100 million Arabic data-points in the GCC According to the latest research by…

Raiven Capital Arrives in Riyadh to Judge $600,000 Startup Competition at LEAP, One of the Mideast’s Largest Tech Conferences

Raiven Capital Arrives in Riyadh to Judge 0,000 Startup Competition at LEAP, One of the Mideast’s Largest Tech Conferences

RIYADH, Saudi Arabia–(BUSINESS WIRE/AETOSWire)– Raiven Capital, a global early-stage technology venture fund, arrived in Riyadh to judge a $600,000 startup competition for LEAP, a 61,000 attendee, three-day tech conference that begins today. The inaugural conference involves more than 400 speakers, 80 countries, and 1,000 startups. It is part of Saudi Vision 2030, the plan to diversify from fossil fuels and develop other sectors, especially its digital technology-based economies. A major part of this plan is to nurture its future entrepreneurial society. Ninety startups are competing in the Rocket Fuel Startup Competition, with a…