• The GCC Financial Forum 2019
UAE Exchange and Unimoni go live on Ripple’s blockchain

UAE Exchange and Unimoni go live on Ripple’s blockchain

Finablr, a global platform for Payments and Foreign Exchange solutions, yesterday announced that its network brands UAE Exchange and Unimoni are now on RippleNet. The blockchain-based platform will be used for real-time cross-border transactions to Thailand, with plans in place to extend it to other countries.

With this, UAE Exchange and Unimoni become the first in their category in the Middle East to have adopted blockchain technology to process transactions. This service has been launched first with Siam Commercial Bank, one of the largest banks in Thailand, enabling UAE Exchange and Unimoni customers around the world to transfer money instantly to their beneficiaries in Thailand.

Commenting on the launch, Promoth Manghat, Executive Director and CEO at Finablr and Group CEO at UAE Exchange and Unimoni, said, “The adoption of blockchain opens up considerable potential to streamline remittances and provide a frictionless, fast and secure payments experience.”

Expressing delight, Navin Gupta, Managing Director, South Asia and MENA at Ripple, said, “We are excited to see this collaboration go live, allowing customers in any part of the world to send live payments to Thailand instantly and efficiently.” The Finablr network includes brands such as UAE Exchange, Unimoni, Travelex, Xpress Money, Remit2India, Ditto and Swych, and handled more than 150 million transactions in 2017.




US growth easing: Fed

US growth easing: Fed

The Federal Reserve believes US growth will “step down” this year from last year’s rapid pace amid rising global risks, including from tense trade relations, according to minutes released Wednesday. And given the grea

High-level US-China trade talks resume

High-level US-China trade talks resume

With eight days left in their trade truce, top US and Chinese officials were due yesterday to return to the daunting task of bridging a chasm between the world’s two largest economies. US President Donald Trump has repeatedly cla

Batelco Q4 profit jumps 119pc

Batelco Q4 profit jumps 119pc

Batelco (BATELCO), the regional telecommunications group with operations across 14 countries, yesterday reported a 119 per cent jump in its fourth-quarter net profit attributable to equity holders of the company to BD4.1 million or (US


Sangamam pays tribute to CRPF Martyrs

Sangamam pays tribute to CRPF Martyrs

Sangamam Irinjalakuda held the inauguration of its 2019 executive committee at Bang Saeng Thai restaurant on Thursday evening. Chief Guest was SPAC Chairman P Unnikrishnan. The meeting paid tribute to the martyrs of the Pulwama at

Holistic approach to reduce stress

Holistic approach to reduce stress

Indian Embassy in Bahrain yesterday launched a new yoga initiative aimed at bringing wellness into workplaces to help workers deal with dayto-day stress.  The new initiative, a yoga-based approach is organised by the Indian embass

All eyes on Sharm el-Sheikh

All eyes on Sharm el-Sheikh

His Majesty King Hamad bin Isa Al-Khalifa will lead Bahrain’s delegation to the first Arab-EU Summit, which kick-offs tomorrow in the presence of European and Arab leaders at Egypt’s Red Sea resort of Sharm el-Sheikh. The R

Lending a helping hand

Lending a helping hand

The supporting activities of the second edition of the Strongest Bahraini Championship were held yesterday at Bahrain International Circuit (BIC) under the patronage of HH Shaikh Khalid bin Hamad Al Khalifa. The move was part of humani

Saudi bags $10bn oil deal

Saudi bags $10bn oil deal

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud met China’s President Xi Jinping yesterday and bagged a $10-billion oil deal. Prince Mohammed arrived in Beijing on Thursday following visits to Pakistan and India. &ld

Hsieh upsets Pliskova

Hsieh upsets Pliskova

Hsieh Su-wei won the last six games to beat fourth seed Karolina Pliskova 6-4, 1-6, 7-5 yesterday in Dubai and will face a woman she has never beaten, Petra Kvitova, in the semi-finals. Second seed Kvitova, winner of the event in 2013,

Kim Kardashian sues fashion company

Kim Kardashian sues fashion company

Reality TV star Kim Kardashian West has filed a lawsuit against an online retailer for using her name and image without permission to advertise their own designs. Kim on Wednesday filed a case against Missguided USA, seeking damages in