UK-founded AI transformation firm Nextgen has moved its global headquarters to the UAE, setting up Dubai as its primary base. The company, which has previously expanded into China and India, cited growing demand among regional enterprises to scale AI operations into production. Nextgen reports having over 75 specialists across five offices and more than 200 AI use cases deployed.
Kenyan digital bank Cloud9 has secured an undisclosed investment from crypto accelerator Alliance, bringing total funding to $1 million, Disrupt Africa reported. The platform operates on stablecoin rails to facilitate cross-border settlement for African merchants importing goods from hubs including China and Dubai. Cloud9 plans to use the capital to expand trade payment corridors, roll out physical and virtual cards, and grow its user base.
UAE equity markets closed marginally higher on Friday, 9 October 2026, with both Dubai and Abu Dhabi benchmarks recording slim advances in a subdued session. Dubai's DFM General Index gained 0.36% to settle at 5,819.96, while Abu Dhabi's FTSE ADX General Index inched up 0.08% to finish at 9,808.52. The modest gains completed a positive weekly finish for the UAE's two main stock exchanges.
Abu Dhabi Securities Exchange Group has appointed Alex Krunic as chief capital markets officer. Krunic will support the exchange's market development agenda, product offerings, and institutional engagement. He brings over 25 years of capital markets experience, having most recently served as CEO of Kuwait Clearing Company.
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