Daily E-LETTER (27.12.2022) on Business&more from Israel&Abraham Accords by 'VonNaftali'/#5

What is in: Abraham Accords As New Economic Superspace - New Israeli Funds with $245 millions - FinTech Coop between UAE and Israeli Companies

Abraham Accords on the move to become a New Economic Superspace: A new FTA to be established

The Gulf States’ largest trading partner comes as a bit of a surprise to the Gulf States too. Although the largest volume is based on energy exports, i.e. oil and gas, a new economic axis is going to be established, which will be of great relevance for the future not only of the Abraham Accords, but for the world too.

It is India that is emerging as the Gulf States’ largest trading partner. The largest democracy in the world. India’s exports to GCC countries were valued at approximately US$44 billion and imports at around US$110 billion during the year.

And India opened officially the talks for a Free Trade Agreement (FTA) with the Gulf states. Read more on VonNaftali

New Israeli Funds for Start-ups with $245 Million. The Funds invite DeepTech Start-ups – D/E

Contrary to many prophecies of doom that Israel has been falling into the abyss since the elections are completely unfounded and ill-footed. New private sector funds testify to the contrary.

According to an announcement by the Israeli Venture Capitalist ’10D’ two new funds are established with a summarized volume of $245 Million.

There is a lot of money in the market and not so many opportunities to invest in because the world economy is under severe pressure because of the warmongers Russia, Iran, and China. Read more on VonNaftali

Abraham Accords: FinTech Cooperation between UAE and Israeli Companies – D/E

Cooperations between companies within the framework of the Abraham Accords are increasing. It is hoped that the Abraham Accords will gain more traction in business and fewer politics. At the moment the Abraham Accords are more of a political platform that is of course a value as such because the Accords strives to establish a normalization between Israel and the Muslim Arab world.

NOW Money (UAE), the GCC’s first mobile banking solution focused on financial inclusion, and ThetaRay (Israel) a leading provider of AI-powered transaction monitoring technology, today announced a collaboration to implement ThetaRay’s cloud-based AML solution to monitor cross-border payments and support in the prevention of financial crimes and money laundering on the fintech’s payments platform, as the press release explains.

The new partnership is essential as the number of overbroad money transfers continues to grow, with the value of remittances from the UAE being Dh 2.88 trillion* (780 billion USD) in Q1 2022.