CBUAE maintains 4% GDP growth forecast for 2024, 4.5% for 2025

CBUAE maintains 4% GDP growth forecast for 2024, 4.5% for 2025

The CBUAE’s economic review concludes that the UAE’s economy is on a steady growth trajectory, with strong contributions from both the oil and non-oil sectors

Iraq's Qi and Ant International join forces to launch SuperQi app

Iraq’s Qi and Ant International join forces to launch SuperQi app

SuperQi aims to serve millions of Iraqis, offering a comprehensive suite of services that include scan-to-pay, money transfers, bill payments, loans, mobile recharge and other payment solutions

AD Ports Group refinances, upsizes revolving credit facility to $2.125bn

AD Ports Group refinances, upsizes revolving credit facility to $2.125bn

As a result of this increased demand, AD Ports Group has expanded its banking pool from nine to 18 financial institutions

DP World issues MENA region’s first $100m blue bond

DP World issues MENA region’s first $100m blue bond

The blue bond, priced at a 5.25 per cent coupon rate for a five-year term, will directly contribute to advancing two critical United Nations Sustainable Development Goals

Most GCC central banks follow Fed lead, lower key interest rates

Most GCC central banks follow Fed lead, lower key interest rates

Saudi Arabia, the region’s biggest economy, cut its repurchase agreement (repo) rate and reverse repo rate by 25 bps each to 5 per cent and 4.5 per cent, respectively

CBUAE drops interest rates by 25 basis points, reflects US Fed move Image WAM

CBUAE drops interest rates by 25 basis points, reflects US Fed move

The decision is expected to influence lending rates and liquidity conditions across the country

UAE launches new VAT refund system for online purchases by tourists

UAE launches new VAT refund system for online purchases by tourists

The new e-commerce VAT refund system builds upon the success of the FTA’s fully digital VAT refund system, which was first introduced over two years ago

UAE payments industry set to hit $27.3bn by 2028: report

UAE payments industry set to hit $27.3bn by 2028: report

The UAE’s payments sector is undergoing a rapid transformation, spurred by government initiatives, fintech innovations, and a shift from cash to digital transactions

Money20/20 Middle East to debut in Riyadh in Sept 2025

Money20/20 Middle East to debut in Riyadh in Sept 2025

Money20/20 Middle East aims to become the largest fintech event in the region, featuring a diverse lineup of keynote speakers, panel discussions and networking opportunities

UAE: Zand launches institutional-grade digital asset custody services

UAE: Zand launches institutional-grade digital asset custody service

The service is tailored for corporate and institutional clients, providing top-tier security by storing private keys in onshore UAE hardware security modules

AlpInvest, Mubadala establish new portfolio senior fund financing partnership

AlpInvest, Mubadala form new fund financing partnership

The strategic partnership will exclusively focus on portfolio senior fund financing to private equity funds, supporting growing demand for liquidity and capital solutions within private markets

Hub71 launches Angel Investor Support Package at ADFW 2024 Image HUb71 for illustrative purposes

Hub71 launches Dhs150,000 angel investor support package

Through the Angel Investor Support Package, Hub71 is positioning Abu Dhabi as a global leader in technology and innovation

crypto currency

UAE’s newest stablecoin gets nod from Central Bank

Dubbed ‘AE Coin’, the cryptocurrency is positioning itself as a stablecoin that is fully backed by reserves held within the UAE

Apple launches tap to pay in UAE image courtesy apple.com

Apple launches Tap to Pay on iPhone in the UAE

Whether you’re a retailer looking to improve the checkout experience, or a service provider aiming to simplify payments, Apple’s latest solution removes barriers to adoption

How family businesses can preserve wealth, create legacies

How family businesses can preserve wealth, create legacies

As GCC family businesses transition to second and third generations, seamless leadership changes are essential for business continuity

Delivery Hero’s Talabat to divest 15% stake via IPO

Talabat plunges over 7.5% in Dubai trading debut after $2bn IPO

The company’s shares opened at Dhs1.70, higher than the price at which Germany’s Delivery Hero sold 4.7 billion shares last month

US private credit firm Golub Capital to set up base in Abu Dhabi

US private credit firm Golub Capital to set up base in Abu Dhabi

Golub, which had more than $70bn of capital under management as of October 1, has received preliminary approval for a licence to operate out of the Abu Dhabi Global Market

UAE corporate tax_free zones

UAE set to roll out 15% tax for global corporate giants

The UAE will impose a minimum top-up tax of 15 per cent on large multinational companies operating in the country from next month

Polen Capital to open Abu Dhabi office in Middle East expansion push

Polen Capital to open Abu Dhabi office in Middle East expansion push

The $63bn assets management firm will join other global asset managers and hedge funds in setting up in the ADGM

Abu Dhabi Finance Week 2024 opens today

Abu Dhabi Finance Week 2024 opens today

The event will provide opportunities for networking, thought leadership, and collaboration on the future of finance

UAE VAT: A forward-looking tax system for a forward-looking economy

How the UAE’s VAT system is evolving and improving

By supporting the financial services sector through targeted exemptions, the UAE continues to build on its strategy of becoming a top-tier financial hub

PIF and Bpifrance Assurance Export sign $10 billion memorandum of understanding

Saudi’s PIF, Bpifrance Assurance Export sign $10bn MoU to support key projects

The partnership will unlock up to $10bn in financing for Saudi Vision 2030 projects, boosting cooperation and commercial collaboration between the two nations

DIFC unveils decarbonisation strategy Image courtesy DIFC

DIFC unveils decarbonisation strategy with ‘net zero by 2045’ goal

With its decarbonisation strategy, DIFC is aiming to boost its role as leading player in sustainable finance, setting ambitious benchmarks for decarbonisation in financial centres worldwide

Bitcoin tops $100,000 as bets on Trump fuel crypto euphoria

Bitcoin tops $100,000 as bets on Trump fuel crypto euphoria

The rally has minted millionaires, a new asset class and popularised the concept of decentralised finance

How MENA startups are powering growth through inclusion

How MENA startups are powering growth through inclusion

The MENA region must recognise this potential and work diligently to create a more inclusive funding environment

Saudi Arabia’s Almoosa plans to list 30% stake on local bourse

Saudi Arabia’s Almoosa plans to list 30% stake on local bourse

The healthcare operator is offering 13.3 million shares to investors – equivalent to 30 per cent of the company’s paid-up capital

ADGM posts 33% growth in company registrations in Q3 2023

ADGM posts 33% growth in company registrations in Q3 2024

The total number of operational entities within ADGM’s jurisdiction jumped to 2,251, a robust 31 per cent year-on-year growth

Delivery Hero’s Talabat to divest 15% stake via IPO

Delivery Hero raises size of Talabat’s IPO to $2bn

The German firm initially planned to raise $1.52bn (Dhs5.6bn) by offering a 15 per cent stake in Talabat

DFSA measures to tackle financial misconduct in 2024 Image Dubai Media Office

Here’s how DFSA cracked down on financial misconduct in 2024

The DFSA plans to continue its rigorous enforcement measures and provide clear regulatory guidance to all entities operating within the DIFC

Emirates NBD, Mashreq back syndicated loans platform LoanBook

Emirates NBD, Mashreq back syndicated loans platform LoanBook

With the backing of two of the GCC’s leading banks, LoanBook is well-positioned to continue its mission of modernising the syndicated loan market