Tony Hallside, CEO of STP Partners

SME story: How STP Partners leverages tech in its financial solutions

Tony Hallside, CEO of STP Partners, a full-service DIFC-based prime broker, discusses the firm’s innovative prime brokerage services, strategic successes, and future plans in the dynamic financial landscape

Dubai Taxi Co Image Dubai Media Office

Dubai Taxi Company revenue up 14% as it completes 23 million trips

DTC said its taxi segment benefited from higher tariffs, and an increased number of dedicated airport taxis, in the reporting period

First Abu Dhabi Bank (FAB) reports robust performance in H1 2024 GettyImages

FAB posts record H1 profit of Dhs8.4bn amid strong revenue growth

The bank’s profit before tax grew by 15 per cent year-on-year to Dhs10bn

Elon musk - Tesla

Tesla shares tank on back of dismal results

Trade analysts have rated Tesla’s stock a “hold” with a median price target of $212.50

CFI LEWIS HAMILTON

CFI brings F1 champion Lewis Hamilton aboard as global brand ambassador

This multi-year agreement with Hamilton represents a significant milestone for CFI, aligning it with one of the biggest names in motorsport

Fitch says GCC banks show strong interest in global expansion

GCC banks show robust interest in global expansion, Fitch says

Several banks in the region are reportedly considering acquisitions in Turkiye, Egypt, and India to diversify business models and enhance profitability

84% of UAE investors likely to invest in future IPO offerings. For illustrative purposes

IPO appeal: 84% of UAE investors likely to invest in future offerings

Findings from Edelman Smithfield’s UAE Investor Pulse Survey 2024, show that 67 per cent of respondents agreed that having two distinct exchanges benefits the UAE capital markets

PIF

Saudi’s PIF appoints Fahad Al Saif as new head of investment strategy

The PIF has a sprawling portfolio of investments ranging from date farms to multinational conglomerates

ADCB posts 20% rise in quarterly net profit, beats forecasts

In its Q2 2024 financial results, ADCB reported significant growth driven by increased net interest and non-interest income

Masdar Raises USD1 Billion Through Second Green Bond to Fund New Global Renewables Projects

Masdar raises $1bn through second green bond issuance

Investor demand was strong, with the order book peaking at $4.6bn, representing an oversubscription rate of 4.6 times

LSEG

LSEG platform suffers widespread downtime, trading hit

During Asian trading hours, LSEG said its news services were experiencing a global technical issue that prevented news from being published on its platform

Gold

Gold clings to record high on growing US rate-cut bets

Over the next six to 12 months, Citi expects gold to rise $2,700-$3,000 per ounce and silver to climb $38 per ounce

Shari’ah-compliant firm GII finalises investment in GEMS education. Image for illustrative purposes

Shari’ah-compliant firm GII finalises investment in GEMS education

GII, with over $4.5bn in assets under management, marks this investment as the second collaboration with Brookfield this year

‘Prioritise the fundamentals when investing', says SJP's Martin Hennecke

‘Prioritise the fundamentals when investing’, says SJP’s Martin Hennecke

St. James’s Place’s (SJP) head of Asia and Middle East Investment Advisory offers a strategic perspective on investments, the importance of diversification and the firm’s foray into Dubai

Ethiopia

UAE, Ethiopia sign currency swap agreement

Under the deal, the CBUAE and NBE will also collaborate on payment platform services and electronic switches

UAE-GULF-STOCKS-MARKET

Top stocks in Q2 2024: UAE retail investors choose AI over Big Tech

Amongst the most held stocks, Q2 saw a significant shift in the rankings, with NVIDIA rising to become the second-most popular stock on the eToro platform, behind only Tesla

Saudia-Grp-1

Saudi’s investment ministry and Saudia Group sign deal to boost investment

The agreement aims to provide a slew of benefits tailored for global companies seeking to relocate to the kingdom

How financial literacy in the GCC is fostering robust foundation

Moneywise: Transforming the GCC region through financial literacy

Empowering teenagers with the skills and knowledge of personal finance can contribute to a more financially secure future

New era of private credit growth highlights its opaque nature

New era of private credit growth highlights its opaque nature, Moody’s says

Private credit lenders have recently seen revived competition for financing from banks, which are the traditional lenders for leveraged buyouts

FAB refutes reports of $5bn Yes Bank stake as “unfounded”

‘Unfounded’: FAB dismisses reports of Yes Bank stake purchase

The UAE’s biggest lender by assets categorically denied that it is evaluating any possible offer for a stake in Yes Bank

ADGM unveils whistleblowing framework Image ADGM

ADGM’s new ‘whistleblowing’ framework to enhance market integrity

Entities within the centre are required to implement proportionate arrangements to support effective whistleblowing by May 31, 2025

Indonesia’s $2.35bn Sukuk listed on Nasdaq Dubai

Indonesia lists three sukuks worth $2.35bn on Nasdaq Dubai

The new listings bring the Southeast Asia nation’s total value of issuances listed on the exchange to $24.1bn

How financial education can empower the future workforce

How financial education can empower the region’s future workforce

Enhancing the investment acumen of the next generation will serve a grander purpose – it will support the stability and sustainability of the region’s capital markets

Saudi Arabia raises $12.35bn from Aramco’s share sale

Saudi Arabia raises $12bn from Aramco’s share sale

The government sold a 0.64 per cent stake in Aramco last month, with an additional 154 million shares available for stabilising manager Merrill Lynch

AI startup funding more than doubles in Q2, shows Crunchbase data

AI startup funding more than doubles in Q2, shows Crunchbase data

Five out of six billion-dollar funding rounds went to AI companies, Crunchbase data showed

retirement

5 strategic steps to help you achieve an early and a secure retirement

Regular saving, prudent spending, and smart investing not only boost your retirement fund but also enhance your overall financial health

Saudi Aramco returns to debt market with three-tranche dollar bond sale

Saudi Aramco returns to debt market with three-tranche dollar bond sale

GCC companies and governments have rushed to tap debt markets since the start of the year to take advantage of recent falls in global interest rate

Qatari lender QNB’s net profit rises by 7% in H1 2024

GCC’s biggest bank QNB reports 7% rise in half-year net profit

The banking group had QAR1.3tn in total assets in the six months ending June 30, a 5 per cent increase compared to the same period a year ago

Abu Dhabi: ADX lists Lunate's Chimera JP Global Sukuk ETF

Lunate’s Chimera J.P. Morgan Global Sukuk ETF lists on ADX

The ETF offers investors access to a diversified portfolio of Shariah-compliant corporate and government sukuks across several global markets

Lunate receives MoHRE, SCA initial nod to offer EoSB solutions

Lunate receives MoHRE, SCA initial nod to offer EoSB investment offerings

Lunate has become the first Abu Dhabi-based fund manager and administrator of the UAE’s voluntary alternative EoSB scheme through the newly licensed Lunate EoSB Fund