Gold set for second weekly advance as inflation, yields in focus

Bullion is holding near a two-month high even as central banks prepare to dial back stimulus

ADIB reshuffles top leadership days after new CEO takes charge

The bank’s global head of retail banking, private banking and brokerage, and chief human resources officer are leaving

Gold holds decline as bond yields climb on Fed rate-hike bets

Gold is holding above $1,800 an ounce after dropping for the first time in three years in 2021

HSBC reclaims bond crown in Mideast

Following $122bn in debt sales in 2021, governments and companies will probably front-load much of their funding needs this year

Gold steady as investors weigh policy outlook, Omicron risks

Gold is holding above $1,800 an ounce after dropping for the first time in three years in 2021

Abu Dhabi’s Taqa and EWEC price first green bond linked to solar PV plant

The $700m placement is the largest green bond issued in the region

Bitcoin’s dominance of crypto payments is starting to erode

The alternative coins’ use surged partly as more businesses have begun using stablecoins for cross-border payments

UAE Central Bank

UAE bank deposits grew 80 per cent in 10 years

The number of commercial banks operating in the UAE totalled 58 in 2020 against 51 in 2010

New ADIB Global Sukuk Fund raises more than $160m

The fund was launched in October last year

Bitcoin climbs after inflation jump revives hedging argument

The largest cryptocurrency by market value rose as much as 3.1 per cent to $44,001 on Wednesday

Mideast’s biggest bank raised provisions and remains on alert

Qatar National Bank’s 2021 net income rose to QR13.2bn from QR12bn a year ago

Apicorp and IsDB partner in $1bn infrastructure financing initiative

The joint ‘Infra Initiative’ aims to incentivise more private sector investments and mobilise funding for utility projects

Nasdaq Dubai

Nasdaq Dubai records $23.1bn sukuk and bond listings in 2021

The 30 listings undertaken in 2021 were 15.5 per cent higher than the number of listings the previous year

One of the world’s biggest wealth funds targets sustainable finance

Kuwait Investment Authority has applied the ESG standard set by an independent globally-recognised ESG benchmark provider

Abu Dhabi Fund for Development announces investment in Thailand’s tourism, hospitality sector

The properties in which the fund is investing have more than 760 rooms combined

Brazil UAE

The role of SMEs in boosting the trade relationship between Brazil and the UAE

Small businesses account for 99 per cent of all enterprises in Brazil and 95 per cent of private sector companies in the UAE

Abu Dhabi Securities Exchange partners with FTSE Russell to create new benchmark indices

The FTSE ADX General Index will replace the ADX General Index, as of January 10

Gett Images

Central Banks can shape the future of digital finance

CBDCs could serve a purpose that ordinary cash can’t, by creating a new channel for monetary policy

Hisham Khalid Tawfiq Abdulkhaliq

ADQ appoints new chairman of Abu Dhabi Securities Exchange

Hisham Khalid Tawfiq Abdulkhaliq Malak also serves as the undersecretary of the Department of Finance

Bitcoin declines to lowest level since December’s flash crash

Bitcoin has surged more than 500 per cent since the end of 2019

Saudi pension fund says returns hit 14%

The returns were due to its long-term portfolio allocation and market performance

Warba Bank nasdaq dubai

Warba Bank lists $250m sukuk on Nasdaq Dubai

The total value of the Kuwaiti bank’s sukuk on the exchange stands at $898m

UAE’s new digital bank Zand set to launch ‘imminently’ after Dubai Bank acquisition

Dubai Bank, acquired from Emirates NBD, will be relaunched as Zand

UAE looks to attract Asian firms to bolster crypto sector

The UAE has intensified its push to adopt the use of blockchain in recent years

EFG Hermes advises TPG’s Evercare Group on $72.4m IDC deal

IDC, a radiology and pathology diagnostics service provider in Pakistan, provides imaging and lab services across a national network of over 80 branches in 30 cities

Dubai World Trade Centre to become regulator for virtual assets and crypto

DWTC will be designing a comprehensive ecosystem for this sector within Dubai

Saudi food delivery company Jahez prices IPO at top of range

The company plans to sell just over two million shares to raise about SAR1.8bn.

dirhams

UAE Central Bank extends economic support measures until June 30

Prudential relief measures regarding banks’ capital buffers and liquidity and stable funding requirements will be extended by six months

Voices from the top: Josette Rizk, director of institutional clients, MEA, Invesco

Invesco’s client-centric approach has enabled its EMEA business to grow in assets under management

RAKBank appoints new CEO

Raheel Ahmed succeeds Peter England, who will retire after leading the bank for over eight years