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Dubai’s Majid Al Futtaim acquires UAE mobile wallet app Beam

Beam Wallet Founders

Dubai-based mall operator Majid Al Futtaim has acquired Beam Portal, the owner of UAE mobile wallet app Beam, it announced on Wednesday.

The acquisition grants Majid Al Futtaim ownership of Beam’s IP rights, branding, and e-wallet services across the region. Beam enables retailers to accept mobile payments and engage with customers directly through their smartphones.

The app was recently launched in Majid Al Futtaim fashion and home retail stores in the UAE, and will be expanded across all Majid Al Futtaim retail stores in 2019.

Learn more about Majid Al Futtaim acquiring Beam

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UAE and Jordan sign $100m agreement to support entrepreneurs

King Abdullah II

The UAE and Jordan have signed a $100 million agreement aimed at financing micro, small and medium-sized enterprises (SMEs) in the kingdom.

The agreement, signed at Al Husseiniya Palace by the Khalifa Fund for Enterprise Development and Jordan’s Crown Prince Foundation, is aimed to support entrepreneurship and underpin the Jordanian government’s efforts to ensure a stable and balanced economy, state news agency WAM reported.

It targets financing around 22,000 projects over five years and creating around 28,000 job opportunities for Jordanian youth.

Learn more about this agreement

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8 agreements signed between Bahrain and Shenzhen

Bahrain China Roadshow Shenzhen

This week, a senior delegation from the Kingdom of Bahrain visited Shenzhen to discuss opportunities to strengthen cooperation.

The two cities have forged a number of business links since Bahrain EDB inaugurated in June 2018 its representative office for Southern China in Shenzhen, aiming to facilitate more investments by Chinese companies in Bahrain.

“Our partnership with Shenzhen was built on common heritage as open and innovative business hubs with shared economic interests. We are very pleased to see our ties with this vibrant city continue to strengthen and believe these agreements will help us move towards a new era of collaboration,” said HE Sheikh Hisham Bin Abdulrahman Al Khalifa.

This week, Bahrain signed eight landmark agreements with Shenzhen in the areas of technology and transportation.

Discover the 8 agreements signed between Bahrain and Shenzhen

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SeedStars Palestine winning team selected!

SeedStars Ramallah 2018 is one of the main events of the Global Entrepreneurship Week Palestine.

7 best startups competed to be crowned the most promising seed-stage startup of Seedstars Ramallah 2018. The first winning startup was Inggez , who will have the opportunity to join the global Seedstars Family and take part in the regional and global Seedstars Summits that include tried and tested bootcamp and investor forum.

Discover the winning teams of SeedStars Palestine

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