Latest news with #digitalplatform
Zawya
13 hours ago
- Business
- Zawya
KOICA, GOEIC sign $11mln agreement to enhance Egypt trade facilitation
Egypt - The Korea International Cooperation Agency (KOICA) and Egypt's General Organization of Export and Import Control (GOEIC) on Monday signed an $11m agreement to establish a digital platform aimed at enhancing trade facilitation in Egypt. The Record of Discussion (ROD) was signed in Cairo for the project, titled 'Establishment of the Digital Platform for risk-based inspection and tracking to facilitate trade in Egypt.' The initiative is set to run from 2025 to 2029. The signing ceremony was attended by KOICA's Deputy Country Director, Lee Myungshyn, and GOEIC's Chairperson, Essam El-Naggar. Also present were Mai Hassab El Nabbi Assal, Assistant Minister of Investment and Foreign Trade for Development Projects, International Relations, and Political Communication, and Eman Fakhry, Senior Manager of the Asian Cooperation Sector at the Ministry of Planning, Economic Development, and International Cooperation. The project aims to streamline Egypt's import cargo inspection processes and bolster the country's global trade competitiveness. Key components include the development of digital systems for cargo risk-based inspection, a laboratory information management system, and a market surveillance system. 'We believe this project will significantly enhance Egypt's trade facilitation capabilities, fostering economic growth and sustainability. Our collaboration with GOEIC marks a crucial step towards a more efficient and competitive trade environment in Egypt,' Lee Myungshyn, Deputy Country Director of KOICA Egypt Office, said. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, said that 'this project is a continuation of the coordinating efforts undertaken by the Ministry in collaboration with all concerned parties to enhance the utilization of Korean grant resources to support the Egyptian government's plans for digital transformation and promote inclusive and sustainable development.' She emphasised that through the digital platform for risk-based inspection and tracking, national efforts are supported to facilitate and develop trade flows through digital transformation. Dr. Al-Mashat also highlighted the project's importancein enhancing competitiveness by accelerating inspection and customs clearance processes, thereby reducing administrative barriers and ensuring compliance with international standards in foreign trade. Hassan El-Khatib, Minister of Investment and Foreign Trade, indicated that 'this project is part of the state's vision to govern ports, accelerate, simplify, and reduce the cost and time of conformity assessment procedures for goods at ports, aiming to decrease release times to reach global standards.' He added that this includes tightening control over the trading, importing, and exporting of low-quality goods, in line with Egypt's international commitments under the World Trade Organization's 'Trade Facilitation Agreement' regarding the implementation of integrated risk management systems in cross-border trade. Essam Al-Naggar, Chairperson of the General Authority for Export and Import Control, praised 'the support from the Korean government for implementing this project, which will contribute to establishing a modern integrated system for monitoring the import of industrial goods, including market surveillance, similar to practices in developed countries.' KOICA is a Korean government agency under the Ministry of Foreign Affairs, dedicated to implementing grant aid programmes designed to combat poverty and support sustainable socio-economic growth in developing countries worldwide. The KOICA Egypt Office, established in 1998, provides technical and technological education for youth in Egypt, supports the digitalisation of government services and systems, and carries out programmes to address gender-based violence, strengthen women's empowerment, and support vulnerable groups.
Finextra
4 days ago
- Business
- Finextra
Mena wealth platform Vault opens to the general public
Vault Wealth Limited ('Vault'), MENA's first digital private wealth platform built for the modern affluent, today announced its public launch, alongside an investment round led by Peak XV Partners (formerly Sequoia Capital India & SEA), with continued support from Outliers VC. 1 This marks Peak XV Partners' first wealthtech investment in the MENA region and a milestone in Vault's journey to deliver fiduciary-grade, technology driven private wealth solutions to the region's modern affluent. Since securing its ADGM Financial Services Regulatory Authority license in mid-2023, Vault has focused on building and refining its offering in close collaboration with a select group of HNWIs, ensuring it is purpose-built to meet their sophisticated needs. Having quietly validated product-market fit and laid a strong foundation, Vault is now expanding access to a broader segment of affluent investors across the region, specifically those with over USD 100,000 in liquid assets. The platform has already demonstrated strong momentum, with assets under management (AUM) growing by over 300% in the past 12 months and clients typically tripling their deposits within 90 days of first funding. 'Vault was built with a simple premise: that affluent investors in MENA deserve better—better access, better alignment, and better outcomes,' said Bilal Abou-Diab, Co-Founder and CEO of Vault. 'Vault is what wealth management should look like today: digital-first, fiduciary by design, and built for how people live and invest now. With Peak XV Partners' support, we're entering a new phase of growth, delivering institutional-quality wealth management to a broader base of clients across the region.' 'Vault is bringing a tech-driven, client-centric approach to wealth management for HNWIs in MENA. They're building a platform that resonates with a new generation of affluent investors in a market that's ripe for disruption. We're excited to partner with them on this journey,' said GV Ravishankar, Managing Director, Peak XV. Established Expertise for Modern Wealth Vault combines expert advisory capabilities with advanced technology to deliver a comprehensive wealth management experience. The platform caters to a diverse international client base, including professionals and entrepreneurs from the UAE, GCC, Europe, Asia, and North America. Vault provides expert financial planning and goal-based portfolio management, alongside institutional-grade global market access through Interactive Brokers. Clients benefit from optimized liquidity solutions and gain access to exclusive private market opportunities spanning private equity, venture capital, private credit, and real estate—all through a unified platform. 'Vault provides the sophisticated capabilities that affluent investors deserve, without the legacy constraints of traditional wealth managers,' said Sami Abdul Hadi, Co-Founder and COO, Vault. 'With over 250% year-on-year client growth driven primarily by referrals, our platform clearly empowers clients with both expertise and transparency in a market where both have been in short supply.' 'Vault stood out from our first conversation with Bilal and Sami. The team had clarity of vision and deeply understood the scale of the market gap. As demand for modern wealth management solutions accelerates, our conviction has only grown. Wealth management in MENA is overdue for reinvention, and Vault is building the infrastructure to lead it,' said Sarah AlSaleh, General Partner, Outliers VC. Unlocking Dormant Capital in a USD 3.5 Trillion+ Market The UAE has established itself as a significant wealth hub, with approximately 29% of the population holding over USD 100 million in financial assets. Despite this, at least 41% of investible wealth is held in cash positions—far exceeding levels in mature markets. Across the broader MENA region, the opportunity is even greater. GCC household wealth is projected to surpass USD 3.5 trillion by 2027, yet much remains underutilized due to legacy systems and fragmented offerings. Vault addresses this gap by offering a regulated, transparent alternative that meets the expectations of sophisticated global investors who have chosen MENA as their home. Regulated by ADGM's Financial Services Regulatory Authority (FSRA) and recognized as one of the UAE's top innovators by Future 100, Vault is now welcoming new clients.
Finextra
5 days ago
- Business
- Finextra
Mena wealth platform Vault goes live
Vault Wealth Limited ('Vault'), MENA's first digital private wealth platform built for the modern affluent, today announced its public launch, alongside an investment round led by Peak XV Partners (formerly Sequoia Capital India & SEA), with continued support from Outliers VC. 0 This marks Peak XV Partners' first wealthtech investment in the MENA region and a milestone in Vault's journey to deliver fiduciary-grade, technology driven private wealth solutions to the region's modern affluent. Since securing its ADGM Financial Services Regulatory Authority license in mid-2023, Vault has focused on building and refining its offering in close collaboration with a select group of HNWIs, ensuring it is purpose-built to meet their sophisticated needs. Having quietly validated product-market fit and laid a strong foundation, Vault is now expanding access to a broader segment of affluent investors across the region, specifically those with over USD 100,000 in liquid assets. The platform has already demonstrated strong momentum, with assets under management (AUM) growing by over 300% in the past 12 months and clients typically tripling their deposits within 90 days of first funding. 'Vault was built with a simple premise: that affluent investors in MENA deserve better—better access, better alignment, and better outcomes,' said Bilal Abou-Diab, Co-Founder and CEO of Vault. 'Vault is what wealth management should look like today: digital-first, fiduciary by design, and built for how people live and invest now. With Peak XV Partners' support, we're entering a new phase of growth, delivering institutional-quality wealth management to a broader base of clients across the region.' 'Vault is bringing a tech-driven, client-centric approach to wealth management for HNWIs in MENA. They're building a platform that resonates with a new generation of affluent investors in a market that's ripe for disruption. We're excited to partner with them on this journey,' said GV Ravishankar, Managing Director, Peak XV. Established Expertise for Modern Wealth Vault combines expert advisory capabilities with advanced technology to deliver a comprehensive wealth management experience. The platform caters to a diverse international client base, including professionals and entrepreneurs from the UAE, GCC, Europe, Asia, and North America. Vault provides expert financial planning and goal-based portfolio management, alongside institutional-grade global market access through Interactive Brokers. Clients benefit from optimized liquidity solutions and gain access to exclusive private market opportunities spanning private equity, venture capital, private credit, and real estate—all through a unified platform. 'Vault provides the sophisticated capabilities that affluent investors deserve, without the legacy constraints of traditional wealth managers,' said Sami Abdul Hadi, Co-Founder and COO, Vault. 'With over 250% year-on-year client growth driven primarily by referrals, our platform clearly empowers clients with both expertise and transparency in a market where both have been in short supply.' 'Vault stood out from our first conversation with Bilal and Sami. The team had clarity of vision and deeply understood the scale of the market gap. As demand for modern wealth management solutions accelerates, our conviction has only grown. Wealth management in MENA is overdue for reinvention, and Vault is building the infrastructure to lead it,' said Sarah AlSaleh, General Partner, Outliers VC. Unlocking Dormant Capital in a USD 3.5 Trillion+ Market The UAE has established itself as a significant wealth hub, with approximately 29% of the population holding over USD 100 million in financial assets. Despite this, at least 41% of investible wealth is held in cash positions—far exceeding levels in mature markets. Across the broader MENA region, the opportunity is even greater. GCC household wealth is projected to surpass USD 3.5 trillion by 2027, yet much remains underutilized due to legacy systems and fragmented offerings. Vault addresses this gap by offering a regulated, transparent alternative that meets the expectations of sophisticated global investors who have chosen MENA as their home. Regulated by ADGM's Financial Services Regulatory Authority (FSRA) and recognized as one of the UAE's top innovators by Future 100, Vault is now welcoming new clients.
The Herald
19-05-2025
- Automotive
- The Herald
WeBuyCars' core headline earnings up by 26%, half-year results show
Used car group WeBuyCars says the number of vehicles it sold increased by 13.5% to 91,392 in the six months to March. The company bought 92,339 cars from consumers, up 12.9%. Core headline earnings for the half-year stood at R508m, growing 26.4% from the previous comparable period. 'This growth trajectory can be attributed to the continuous focus on enhancing and investing in the group's innovative digital business platform.' The company said it experienced buoyant pre-owned vehicle trading conditions in the first four months of the interim period, driven by numerous factors including positivity about the favourable election outcome and the formation of a government of national unity (GNU), lower inflation levels, three consecutive 25 basis point repo rate cuts since September 2024, improving consumer confidence and an injection of cash into the economy from the two-pot retirement system. In February and March 2025, this positivity waned somewhat, however, with consumers adopting a 'wait and see' attitude after experiencing increased uncertainties on numerous fronts including: the cohesive working of the GNU, the since-aborted increases in the VAT rate, concerns after the budget debates and uncertainties relating to US trade tariffs. WeBuyCars has a goal of buying and selling 23,000 vehicles per month by the 2028 full financial year. During the six months to March, WeBuyCars added 10 new buying pods, bringing the group's national footprint to 93. Business Times
Associated Press
19-05-2025
- Business
- Associated Press
DNminer Launches Cloud Mining Services for Bitcoin and XRP Enthusiasts
DNminer Logo LOS ANGELES, May 19, 2025 (GLOBE NEWSWIRE) -- DNminer, a digital platform specializing in cryptocurrency mining, announces the launch of its cloud mining services designed for Bitcoin and XRP mining. The platform provides an easy, secure, and affordable way for individuals to participate in mining without the need for owning or maintaining physical mining equipment. As the demand for cryptocurrencies grows, many individuals are seeking ways to be part of the mining economy without the technical and financial burden of setting up their own rigs. DNminer responds to this need by offering cloud mining services that allow users to lease computing power from remote data centers. This approach significantly lowers the entry barrier, enabling anyone with an internet connection to begin earning cryptocurrency. 'Our goal is to introduce a practical and user-friendly platform for mining popular digital currencies like Bitcoin and XRP,' said a spokesperson for DNminer. 'With flexible packages and real-time performance tracking, we want to empower users to start mining with confidence.' DNminer's cloud mining solution offers several plans to accommodate different budgets and mining goals. Users can select the desired contract and duration, with no need for hardware maintenance, electricity costs, or cooling infrastructure. Once subscribed, the mining process starts automatically, and users can monitor their earnings through a streamlined dashboard interface. The platform currently supports cloud mining for Bitcoin and XRP, two of the most recognized digital currencies in the world. With data centers powered by high-performance mining hardware and enhanced security protocols, DNminer aims to provide stable performance and uptime. Security and transparency are central to DNminer's operations. All mining statistics, payouts, and performance reports are easily accessible within the user account. The platform also provides customer support to assist with any inquiries related to accounts or mining contracts. Understand the potential returns for different investment contract durations. Whether users are crypto beginners or seasoned investors looking to diversify their portfolio, DNminer presents a scalable and hassle-free solution to engage in cloud mining. To learn more or begin mining today, visit About DNminer DNminer is a cryptocurrency cloud mining platform offering secure and flexible solutions for users interested in Bitcoin and XRP mining. The platform focuses on accessibility, transparency, and delivering mining services without technical complexity. Media Contact: Tomlin DNMiner +44 7349100987 [email protected] Photos accompanying this announcement are available at
