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Egypt's QIZ exports are currently subject to a 10% U.S. tariff due to new trade measures. The U.S. may consider lifting these tariffs if Egypt addresses non-tariff barriers in agriculture, services, and shipping. Meanwhile, Egypt is seeking to attract manufacturing investments from China, Turkey, and Vietnam to enhance its export capabilities.
Turkish fintech firm Sipay has successfully raised $78 million in a Series B funding round. This significant investment underscores the growing interest and confidence in the fintech sector within Turkey. The funds are expected to bolster Sipay's expansion and innovation efforts.
Turkish fintech firm Sipay has successfully raised $78 million in a series B funding round, achieving a valuation of $875 million. The round was led by Elephant VC, with participation from QuantumLight, founded by Revolut co-founder Nik Storonsky. Established in 2019, Sipay offers a range of financial services, including digital wallets and embedded finance, serving 6.3 million wallet users and 25,000 merchants.
Turkish fintech company Sipay has secured $78 million in Series B funding, elevating its valuation to $875 million. Led by Elephant VC, the investment will enable Sipay to expand into emerging markets, focusing on services like cross-border remittances, which competitors like Stripe do not currently offer. With partnerships including Visa and Mastercard, Sipay aims to provide a comprehensive fintech solution tailored to local needs, positioning itself as a key player in the rapidly growing digital financial services sector in Turkey and the Middle East.
Turkey's Sipay has successfully raised $78 million to enhance its payment services, similar to those offered by Stripe, with plans to expand into emerging markets. This funding will support the company's growth and innovation in the financial technology sector.
The UAE's outstanding bonds and sukuk reached $309.4 billion in Q1 2025, marking an 8.3% increase from the previous year. Sukuk accounted for 20.2% of this total, with new issuances hitting $4.9 billion, while bond issuances stood at $24.1 billion. The UAE ranks fourth globally in sukuk market share and second in the GCC for outstanding debt, holding 30% of the region's total.
The UAE is set to achieve a $1 trillion trade target through its Comprehensive Economic Partnership Agreement (CEPA) program, having signed 26 agreements with international partners by early 2025. This initiative, launched in September 2021, aims to diversify the economy and enhance trade, with significant growth in non-oil trade with countries like India and Turkey. The UAE is also finalizing a CEPA with Japan, further expanding its global trade network and aligning with its 'We the UAE 2031' economic vision.
In 2024, Sergio Ermotti, CEO of UBS, topped the list of Europe's highest-paid bankers with a salary of 15.6 million euros, followed by Andrea Orcel of Unicredit at 13.2 million euros, marking a 32% increase. The average salary for CEOs of the top 10 European banks was 7 million euros, driven by exceptional profits from rising interest rates. Despite the substantial compensation, criticism arose regarding the high pay of bank executives, prompting Unicredit to defend Orcel's salary increase as essential for long-term commitment in a competitive market.
In 2024, UBS CEO Sergio Ermotti topped the list of Europe's highest-paid bankers with earnings of €15.6 million, followed by UniCredit's Andrea Orcel at €13.2 million, marking a 32% increase. Deutsche Bank's Christian Sewing rounded out the top three with €9.8 million. The surge in salaries is attributed to significant bank profits and rising stock prices.
Barclays has lowered its price target for Dow Inc. to $38 from $44 while maintaining an equal-weight rating. Dow specializes in manufacturing and marketing a range of products, with net sales primarily from basic plastics (50.7%), elaborate plastics (27.6%), and performance chemicals (20%). Geographically, sales are distributed across the U.S. and Canada (38.2%), Europe/Middle East/Africa/India (32.5%), Asia/Pacific (17.9%), and Latin America (11.4%).
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us may lift tariffs on egypt's exports amid trade negotiations
12:23 09.04.2025
Turkish fintech company Sipay secures 78 million dollars in series B funding
05:38 09.04.2025
Turkish fintech firm Sipay secures 78 million dollars in series B funding
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sipay secures 78 million series b funding to expand into emerging markets
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barclays lowers dow inc price target to thirty eight dollars
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12:03 01.04.2025
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