Search results for Bahrain
Crypto
UAE investors buy AI on dips, keep crypto exposure despite Middle East conflict
UAE investors have selectively bought AI and technology stocks despite rising tensions in the Middle East, showing a clear trend of rebalancing portfolios while keeping conviction in long-term growth themes. Data released by eToro showed higher allocations to software and AI infrastructure names that fell sharply in the first quarter. Crypto-related exposure also remained intact, while regulators and companies maintained operations even as security concerns and short-term risks persisted.
Finance
Woori Bank launches 18.4 trillion won emergency financial support program amid Middle East uncertainty
Woori Bank said on Tuesday it is launching an emergency management financial support program worth 18.4 trillion won to minimise financial market volatility and real-economy impacts stemming from uncertainty in the Middle East. The bank plans 18.3 trillion won for companies, including liquidity and export-import support, and about 100 billion won for individuals and financially vulnerable groups. It will also run a foreign-exchange counselling team and strengthen risk monitoring.
AI & Enterprise
Amazon AWS data centre hit by drone attack in UAE, finance and payment services disrupted
Amazon Web Services data centres in the United Arab Emirates were hit by a drone attack, knocking banking and payment systems offline on a large scale, CNBC reported on Tuesday. AWS said two data centres in the UAE and Bahrain were offline. The outage disrupted services including Careem and payment firms Alaan and Hubpay, while banks such as ADCB and Emirates NBD and software company Snowflake also faced disruptions.
