Banxso, a renowned financial services provider, has announced its ambitious plan to expand into the Gulf Cooperation Council (GCC) markets. This strategic move is aimed at capitalizing on the economic growth and diversification of the GCC states, including Saudi Arabia, UAE, Qatar, Kuwait, Bahrain, and Oman. The CEO of Banxso highlighted the potential of the region as a burgeoning financial hub, ripe for advanced financial services and investment platforms that Banxso offers.Banxso's expansion strategy includes establishing its primary operations in Dubai and Riyadh, two of the largest financial centers in the region. These cities were chosen for their strategic importance, robust infrastructure, and favorable business environments that support financial services innovation. The firm plans to introduce a comprehensive suite of services such as asset management, brokerage, and financial advisory tailored to the unique demands of the GCC market.As part of its localization strategy, Banxso is committed to employing a significant number of local professionals. This approach ensures that the services provided are not only compliant with local regulations but also culturally aligned with the Gulf market's needs. Banxso's commitment to local talent is expected to foster stronger relationships within the community and enhance customer service.The firm is also engaging with local regulators to ensure full compliance with financial regulations and standards. This proactive approach is intended to streamline the integration process and build trust among local investors and partners.Banxso anticipates that its operations in the Gulf will commence by 2025, following the successful setup of its offices and the completion of all necessary regulatory procedures. This expansion is seen as a pivotal move in Banxso's strategy to enhance its global footprint and leverage the growing economic opportunities in the GCC.

The UN decried on Friday the intentional destruction of complex and hard-to-obtain medical equipment in Gaza’s beleaguered hospitals and maternity wards, further deepening risks to women already giving birth in “inhumane, unimaginable conditions”.Recent United Nations-led missions to 10 Gaza hospitals found many “in ruins” and just a couple capable of providing any level of maternal health services, said Dominic Allen, the UN Population Fund (UNFPA) representative for the State of Palestine.He said that what the teams found at the Nasser hospital complex, long besieged by Israeli forces during their operations in the southern city of Khan Yunis, “breaks my heart”.Speaking to journalists in Geneva via video-link from Jerusalem, he described seeing “medical equipment purposefully broken, ultrasounds — which you will know, is a very important tool for helping ensure safe births — with cables that have been cut”. “Screens of complex medical equipment, like ultrasounds and others with the screens smashed,” he added.The World Health Organisation has described the difficulty of bringing such equipment into Gaza even before the current war erupted following Hamas’ October first week storming of Israel. Meanwhile at Al-Khair, another specialised maternity hospital in Khan Yunis, “it didn’t seem as if there was any piece of working medical equipment”, he said, lamenting that the birthing rooms “stand silent”.“They should be a place of giving life and they just have an eerie sense of death.” Only 10 of Gaza’s 36 hospitals are currently even partially functioning.And Allen said that only three of those were now capable of providing assistance to the estimated 180 women giving birth across Gaza every single day — around 15% of whom suffer complications requiring significant care.The hospitals that can provide such care are thus facing significant capacity constraints.The Emirati Hospital in the south, which is the main maternity hospital in Gaza currently, is for instance supporting up to 60 births every single day, including as many as 12 Caesarian sections, he said.Given the heavy pressure on the facility, women are discharged just hours after giving birth, “and after C-sections, it is less than a day”, Allen said, stressing “that increases risks”.The current war started after Hamas launched its unprecedented storming in the first week of October. Israel’s retaliatory offensive has killed at least 33,970 people in Gaza, mostly women and children. according to the Hamas-run territory’s health ministry.