British Airways cancels Doha flights up to June 25
(Reporting by Chandini Monnappa in Bengaluru)
Reuters
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
15 minutes ago
- Khaleej Times
UAE employees can now receive salaries in digital wallets as du launches new platform
Employees in the UAE can now receive their salaries through digital wallets, as the use of this technology has grown exponentially over the past few years. On Monday, the UAE's second telecom operator, du, launched the 'Salary in the Digital Wallet' (SITW) feature, allowing the UAE workforce to receive their salaries directly into their du Pay digital wallets. Through the multilingual du Pay platform, UAE residents can transfer money globally, pay bills, recharge telco accounts, order a debit card, and make card payments. As reported by Khaleej Times, the use of digital wallets is growing in the UAE, especially among expatriates from Bangladesh, India, Pakistan, and other Asian countries for remitting money to their home countries. Currently, some of the popular digital wallets in the UAE include Apple Pay, Samsung Pay, and Google Pay, among others. To receive salaries in their digital wallets, customers will receive a unique IBAN when registering with du Pay. This will empower residents with instant access to their funds through the du Pay mobile application, along with a physical du Pay card for cashless transactions. The company said this digital wallet feature is especially beneficial for residents earning less than Dh5,000 per month, who typically have limited or no access to traditional banking services. Importantly, customers can open a zero-balance account with du Pay. According to Research and Markets, the prepaid card and digital wallet market in the UAE is projected to grow by 12.7 per cent annually, reaching a value of $8.28 billion (Dh30.4 billion) in 2025. It is expected to grow at a compound annual growth rate (CAGR) of 10.7 per cent, reaching $12.43 billion (Dh45.6 billion) by 2029, driven by increased digital adoption and government initiatives. 'The shift towards digital payment solutions is driven by a growing fintech ecosystem and enhanced payment infrastructure, while the rise of digital wallets is expected to further accelerate financial inclusion,' it said.
Zawya
24 minutes ago
- Zawya
Oman: Ooredoo launches Submarine cable landing station
Muscat - Ooredoo has announced the launch of the Salalah Data Centre and submarine cable landing station, a project set to position Oman as one of the region's most important digital hubs. Salalah is emerging as a critical node for international connectivity, linking Asia, Europe, and Africa through its proximity to multiple global subsea cable systems. The new facility is the first of its kind in southern Oman to combine a Class 3 compliance data centre with a submarine cable landing station. Built to support the next generation of cloud, AI, and edge computing services, the facility starts with space to house 125 full server racks and will grow to 500 in phases, setting a new benchmark for digital infrastructure in the country. 'The Salalah Data Centre and Landing Station is a catalyst for Oman's digital future,' said Saed Al Ghafri, Director of Infrastructure at Ooredoo. 'It reinforces our role in driving economic diversification, attracting global digital investment, and enabling the next wave of cloud and AI innovation. By creating a southern gateway for international connectivity, we are strengthening Oman's position as a regional leader in the digital economy and unlocking long-term value for businesses, communities, and the wider region.' By creating a secure southern gateway for international cables, the project adds vital network resilience, reduces latency, and opens up faster, more reliable connections. It is expected to attract global operators, hyperscalers, and cloud providers to Oman, boosting the local economy and creating new job opportunities. The facility's advanced design supports everything from enterprise IT hosting to cutting-edge digital services, giving businesses and governments across the region access to faster, more secure, and locally hosted cloud and content delivery. 2025 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Khaleej Times
an hour ago
- Khaleej Times
Kotak Mahindra gains SCA approval to launch UAE funds
Kotak Mahindra (International) Limited (KMIL), a wholly owned subsidiary of Kotak Mahindra Bank Limited, has become the first Indian financial institution to receive approval from the Securities and Commodities Authority (SCA) of the UAE to conduct investment fund management and portfolio management activities. The licence marks a historic step for both the bank and the UAE's financial sector, opening new avenues for cross-border investment flows and collaboration between the two economies. Kotak Mahindra, one of India's most prominent private sector banking and financial services groups, has a long-established reputation for innovation in wealth management and investment banking. Founded in 1985, the Kotak Group today operates across consumer banking, corporate lending, insurance, asset management, and capital markets. With more than 70,000 employees, it manages assets worth over $100 billion and serves millions of clients globally. Kotak Mahindra Bank itself is among India's most valuable banking institutions, listed on Indian stock exchanges with a market capitalisation exceeding $50 billion. Its international operations include regulated businesses in the United States, United Kingdom, Singapore, and Mauritius, and now extend more deeply into the Middle East with the SCA licence. The SCA, established in 2000, is responsible for regulating securities markets, investment funds, and financial services. The licence granted to Kotak Mahindra allows the firm to launch UAE-domiciled funds for retail investors – an important milestone since it will make India-focused investment products more accessible to the UAE's large expatriate community and local investors seeking portfolio diversification. 'This licence is a testament to our enduring commitment to the UAE and our vision of fostering globally integrated, transparent capital markets,' said Shyam Kumar, president and head of Kotak International. 'India's economic momentum continues to attract global interest, and through this licence we are excited to offer UAE investors access to India-focused investment strategies, enabling them to participate in one of the world's most dynamic and resilient markets.' Kotak Mahindra intends to launch funds aligned with its successful UCITS (Luxembourg-domiciled) and India-domiciled strategies, which have attracted strong investor participation globally. The new offerings will cater specifically to the UAE market and are expected to open for subscription in the final quarter of 2025. Analysts note that such initiatives will deepen the financial ties between India and the UAE, two economies already closely linked through trade, energy cooperation, and remittances. Industry experts also see the move as part of a broader trend of Indian financial institutions expanding internationally. As India continues to grow as one of the fastest-expanding major economies – projected by the IMF to grow at over six per cent annually through 2026 – global investors are increasingly seeking exposure to its markets. Kotak's presence in the UAE will give them a direct gateway, regulated under one of the most respected capital market authorities in the region. For the UAE, it underscores confidence in its regulatory environment and its ambition to attract international asset managers to base products locally, according to analysts. The licence adds to Kotak's global footprint, with approvals already in place in India, the US, UK, Singapore, and Mauritius.
