Britain’s investment in the financial technology industry hit a new record, with deals worth almost £18 billion $24.87bn) in the first half of this year.
The figure puts the UK second in the world behind the US, which hit $42.1bn for the same period
The spree took global investment in the burgeoning sector to $98 billon, an $11bn jump from the $87.1bn invested in the second half of 2020, and maintained the City of London's European fintech dominance.
London's FinTech ascendancy in Europe continued in the face of the UK government's failure to establish a post-Brexit deal, which gives the City equivalence to companies operating within the EU single market.
The £18bn splurge was fuelled by the London Stock Exchange's purchase of financial data provider Refinitiv for $14.8bn while investors poured funds into more than 280 of the UK's leading fintechs.
Covid-19 has spurred a race to digital in UK financial services and many of the major banks have dipped into their investment pots for digitisation
KPMG
Venture capital firms with a beady eye on start-ups were particularly prolific, doubling their FinTech investment from the last half of 2020 to $6.2bn
London is a centre financial technology and is the home of 3,018 FinTech operations, more than any other city worldwide.
The pandemic has also played a part in accelerating the City's relentless digital drive.
“Covid-19 has spurred a race to digital in UK financial services and many of the major banks have dipped into their investment pots for digitisation – a major reason we are seeing so much corporate investment," Karim Haji, Europe, Middle East, Africa and UK head of financial services at KPMG, told The Guardian.
“This timing, together with the UK’s reputation as a historic financial services sector and ongoing work to nurture FinTechs, from testing through to listing, makes the UK a magnet for investment.”
His colleague, Ian Pollari, KPMG’s global FinTech co-lead, believes investment in FinTech will become a long-term global trend.
“Large funding rounds, high valuations and successful exits underscore the thesis that digital engagement of customers that accelerated during the pandemic is here to stay,” Mr Pollari said.
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Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
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Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
Gothia Cup 2025
4,872 matches
1,942 teams
116 pitches
76 nations
26 UAE teams
15 Lebanese teams
2 Kuwaiti teams
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The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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FINAL SCORES
Fujairah 130 for 8 in 20 overs
(Sandy Sandeep 29, Hamdan Tahir 26 no, Umair Ali 2-15)
Sharjah 131 for 8 in 19.3 overs
(Kashif Daud 51, Umair Ali 20, Rohan Mustafa 2-17, Sabir Rao 2-26)
GROUPS AND FIXTURES
Group A
UAE, Italy, Japan, Spain
Group B
Egypt, Iran, Mexico, Russia
Tuesday
4.15pm: Italy v Japan
5.30pm: Spain v UAE
6.45pm: Egypt v Russia
8pm: Iran v Mexico
Blonde
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Results
5pm: Maiden (PA) Dh 80,000 (Turf) 1,400m. Winner: Al Ajeeb W’Rsan, Pat Dobbs (jockey), Jaci Wickham (trainer).
5.30pm: Maiden (PA) Dh 80,000 (T) 1,400m racing. Winner: Mujeeb, Fabrice Veron, Eric Lemartinel.
6pm: Handicap (PA) Dh 90,000 (T) 2,200m. Winner: Onward, Connor Beasley, Abdallah Al Hammadi.
6.30pm: Sheikh Zayed bin Sultan Al Nahyan Jewel Crown Prep Rated Conditions (PA) Dh 125,000 (T) 2,200m. Winner: Somoud, Richard Mullen, Jean de Roualle.
7pm: Wathba Stallions Cup Handicap (PA) Dh 70,000 (T) 1,600m. Winner: AF Arrab, Tadhg O’Shea, Ernst Oertel.
7.30pm: Handicap (TB) Dh 90,000 (T) 1,400m. Winner: Irish Freedom, Richard Mullen, Satish Seemar.
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Abu Dhabi World Pro 2019 remaining schedule:
Wednesday April 24: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-6pm
Thursday April 25: Abu Dhabi World Professional Jiu-Jitsu Championship, 11am-5pm
Friday April 26: Finals, 3-6pm
Saturday April 27: Awards ceremony, 4pm and 8pm
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
Brief scores
Barcelona 2
Pique 36', Alena 87'
Villarreal 0
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
