Capital.com’s UAE branch has joined forces with Amazon in a high-profile collaboration aimed at promoting its services in Dubai. Under the partnership, over 500,000 Amazon customers will receive a Capital.com-branded box, offering them the chance to participate in a raffle for AED 1 million (approximately $272,000).

Tarik Chebib, CEO of Capital.com Middle East, shared the initiative on LinkedIn, highlighting the unique promotional effort as a milestone for the brokerage. This partnership makes Capital.com the first financial brokerage in the region to collaborate with Amazon, further solidifying its presence in the Middle Eastern market.

NAGA Group expands access to UAE and Saudi Arabian stocks

Germany-listed NAGA Group has strengthened its presence in the Middle East by offering stocks listed on UAE and Saudi Arabian exchanges. Operating under its Abu Dhabi license, the new offerings are part of NAGA’s merger with CAPEX.com, a leading regional brokerage platform.

The merged entities boast 1.5 million registered users combined and aim to exceed 5 million users by 2025. With the expansion, the company projects $250 million in revenue over the next three years, supported by $10 million in anticipated cost savings.

EXANTE opens Dubai office to tap UAE’s growing financial market

Global fintech firm EXANTE has opened a new office in the Dubai International Financial Center (DIFC) as part of its Middle Eastern expansion. The new office enables EXANTE to serve UAE clients with access to over 50 global financial markets and a broad range of investment instruments.

EXANTE’s move underscores the UAE’s growing status as a global financial hub. The firm, regulated in jurisdictions including the UK, Hong Kong, and Cyprus, aims to leverage Dubai’s strategic position for regional growth.

CFD popularity in Singapore declines, but interest persists

Singapore’s leveraged trading market is showing signs of contraction, with retail trader numbers returning to pre-pandemic levels. However, research by Investment Trends highlights ongoing interest in contracts for differences (CFDs), with 73,000 potential investors still engaged.

A significant portion of traders—47%—are focusing on specific market events, while 41% remain drawn to leverage as a key motivator. The report points to evolving trader priorities and opportunities for firms to better align with investor needs.

Ethereum surges as crypto markets eye $4,000

Ethereum (ETH) continues to rally, rising 10% in the past week to trade at $3,635. The cryptocurrency’s momentum comes amid increased interest in risk assets following Donald Trump’s presidential election victory, which has spurred optimism for the crypto market.

Analysts are watching for ETH to break the $4,000 resistance level, with bullish technical indicators supporting the trend. Robinhood’s recent launch of Ethereum staking in Europe is also expected to drive further adoption.

24 Exchange launches U.S. platform with SEC approval

24 Exchange has entered the U.S. market after receiving SEC approval to operate a securities exchange. The platform, 24X National Exchange, will allow trading of U.S. securities for 23 hours daily, catering to retail and institutional customers globally.

The exchange’s extended hours aim to enhance access for international traders, offering greater flexibility in trading U.S. equities.

Black Friday spending trends reflect economic pressures

Black Friday 2024 has become a key economic indicator, revealing the strain inflation is placing on consumer spending. According to LendingTree, the cost of hosting Thanksgiving rose 12% this year, reflecting broader challenges in maintaining household budgets.

With the markets on pause for the Thanksgiving holiday, all eyes are on consumer spending data to gauge retail sector performance and broader economic health heading into the holiday season.