Sustainability roundtable Century Finacial

UAE financial sector reaffirms commitment to sustainability

The round table discussion hosted by Century Financial showcased new sustainability initiatives and partnerships aimed at promoting investments

Rain Showers

UAE weather: Showers hit parts of the country

The National Center of Meteorology reported that the weather is expected to be partly cloudy to cloudy

Dubai Police Ramadan Cannon

Ramadan 2023: UAE moon-sighting committee to meet Tuesday

The sighting of the moon signifies the start and the end of Ramadan, the ninth month of the Islamic calendar

Dr Moopen’s family acquires additional 4% stake in Aster DM Healthcare

The increase of 4 per cent stake from 37.88 per cent reaffirms the family’s commitment to the business in India and GCC

RTA premium number plates auction-112

Dubai premium number plates fetch a total of Dhs38.21m

RTA offered a total of 90 premium number plates for bidding during the 112th Open Auction

Kuwait Oil Company oil spill

Kuwait Oil Company declares ‘state of emergency’ after oil spill

The company said a state of emergency has been declared but no leakage of poisonous gas was detected at the site of the oil spill

1 billion meals

Sheikh Mohammed launches 1 billion meals endowment campaign

It is an expansion of the UAE’s previous Ramadan campaigns

Yolk Brands

Yolk Brands acquires 1762

The eatery joint joins Pickl and BonBird in the group

President Mohamed talks to President Assad

UAE President receives Syria’s Bashar al-Assad

The UAE President drew attention to the need to make all available efforts to facilitate the return of Syrian refugees with dignity to their country

Al Masar Park in Abu Dhabi

Abu Dhabi unveils new park in Khalifa City

Al Masar Park has a 2.1-kilometre jogging track and features 2,841 trees, 58,000 shrubs, and ground-cover plants

SRC Alrajhi Bank Signing ceremony

Saudi’s SRC, Alrajhi Bank sign landmark refinancing deal

The deal is the largest of its kind signed in the Saudi banking industry

S&P Global, Moody’s raise Saudi Arabia rating on reform agenda

Fitch Ratings, one of the big three rating agencies, assigns Saudi Arabia the same score as S&P Global while Moody’s has it one level higher

SME story: Interview with Jamil Zablah & Wassim Merheby, co-founders of Verofax

SME story: Interview with Verofax founders Jamil Zablah & Wassim Merheby

Verofax is currently at the scale-up stage, providing marketing core competency solutions to six of the world’s top 100 global brands

Expo City Dubai Duet Villas Valley View

Sales for two Expo City Dubai residential communities now open

The Devmark Group is the exclusive sales and marketing partner for Expo City Dubai’s residential offerings

Bahrain

Why Bahrain remains a key player in GCC’s financial sector

The kingdom has built a financial services sector comprising more than 360 local, regional and global institutions

Presight AI IPO oversubcribed

Presight AI’s $496m IPO attracts $25.8bn in orders

The IPO is Abu Dhabi Securities Exchange’s second listing this year and it was oversubscribed by 136 times

SPAC

Saudi Arabia explores setting up framework for SPAC listings

Yazeed Saleh Aldemaigi, deputy of strategy and international affairs at Capital Market Authority didn’t give a time frame for when the framework could be introduced

Consumers spend more in Malls in 2022 167896190

Revealed: Here’s what consumers in the UAE spent their money on in 2022

Majid Al Futtaim’s latest ‘State of the UAE Retail Economy’ Q4 report, revealed that e-commerce sales continued their strong upward trajectory, more than doubling to $6bn in 2022 from $2.6bn in 2019

Tamara, Goldman Sachs

Goldman Sachs backs BNPL startup Tamara with $150m facility

The facility will help finance the growing demand for bringing the buy now, pay later products in the GCC while continuing its growth across new verticals

UAE FUEL PRICES - PETROL, DIESEL RATES

Shareholders of ADNOC Distribution approve $700m dividend

The company’s full-year net profit surged by 22 per cent year-on-year to Dhs2.74bn while its revenues rose by 54 per cent to Dhs32bn

UAE and South Korea trade

UAE to invest $30bn in South Korea over the next few years

The two countries agreed to enhance joint efforts to implement the MoU that was signed recently

DP World port operations

Ports operator DP World’s revenues surge to $17.1m in 2022

The logistics firm said the broadening of strategic partnerships and monetisations of its assets in 2022 strengthened its balance sheet

Al Ansari Financial Services Group CEO, Deputy Group CEO and Group CFO

Al Ansari Financial Services IPO: subscription starts, share price announced

The IPO subscription period will run until March 23 for the UAE retail offering and March 24 for the qualified investor offering

central banks of UAE and India sign MoU

Central banks of UAE, India sign agreement to boost collaboration

The MoU will enable joint experimentation with regard to CBDCs and facilitate other digital innovation initiatives between the central banks

Kuwait’s Zain Group posts $640m full-year profit

The board of directors proposed a cash dividend of 25 fils per share for H2 2022, following a semi-annual dividend of 10 fils earlier last year

Dubai's Tecom Group approves Dhs200m cash dividend for H2 2022

Dubai’s Tecom Group approves Dhs200m cash dividend for H2 2022

The group’s shareholders approved the board’s recommendation to distribute the dividend in April 2023

Mashreq’s group head of corporate & investment banking

UAE’s Mashreq finances sustainable investments worth $15.5bn

The bank is committed to developing financial solutions that help businesses scale up operations while achieving their ESG objectives

PIF unveils 3 private sector initiatives. Image by PIF

Saudi Arabia’s PIF unveils three initiatives to boost private sector growth

The strategy aligns with the fund’s aim to support the private sector in increasing its contribution to GDP by up to 65 per cent by 2030

Air Arabia

UAE’s Air Arabia to distribute 15% dividend for 2022

The dividend is equivalent to 15 fils per share

Lasting legacy, Mastercard

Mastercard launches legacy book celebrating 25 women leaders

The company is committed to creating a more equitable world for all and this project marks the company’s latest milestone