Dubai's VARA introduces regulations for 2023_Dubai-Media-Office-twitter

Dubai’s Virtual Asset Regulatory Authority issues regulations for 2023

As the authority providing VA oversight across Dubai with the exception of DIFC, VARA facilitates VA-associated economic stability, investor protection, and jurisdictional resilience

Aramco’s venture capital arm expands investment fund to $500m

Aramco’s venture capital arm expands investment fund to $500m

Aramco has allocated $300m in additional funds to Wa’ed Ventures

Investopia

UAE’s Investopia signs partnership with Emirates Development Bank

Both entities will leverage their core competencies to drive economic growth, diversification and industrial transformation

Saudi's King Salman appoints new central bank governor

Saudi’s King Salman appoints new central bank governor

Former governor, Dr Fahd Al-Mubarak, takes on the role of adviser at the royal court

Bal Krishen Rathore

Power Letters 2023: Bal Krishen Rathore, chairman and CEO, Century Financial

Inflation and interest rate forecasts will remain crucial in 2023

UAE central bank raises base rate _ feb 2023

UAE central Bank raises base rate by 25 basis points

The central banks of Saudi Arabia and Bahrain also increased their interest rates after the US Federal Reserve raised its target interest rate

Dubai Financial Market Company posts 41.7% rise in net profit in 2022

Dubai Financial Market Company posts 41.7% rise in net profit in 2022

DFM welcomed 167,332 new investors, bringing its investor base to over one million

developer portal

Abu Dhabi Islamic Bank reports 55% rise in net profit for 2022

The lender reported revenue worth Dhs6.8bn in 2022, up 23 per cent year-on-year

DIFC-based fintech firms net $559m in funding during Jan-Sep 2022

Dubai’s DIFC unveils ‘Metaverse Platform’

The platform will address metaverse policy development and legislation on open data, digital identity and company law frameworks in the metaverse

National Bank of Kuwait reports $1.7bn in net profit for 2022

The lender’s board of directors proposed a cash dividend of 25 fils per share for the second half of 2022, bringing total cash dividends for the year to 35 fils

UAE Banks Savings Deposits in Nov 2022

UAE banks record Dhs246.6bn in saving deposits by end of Nov 2022

Saving deposits increased during the first 11 months of 2022 by 1.98 per cent, compared to about Dhs241.82bn at the end of 2021

Global Partners Property Fund I (CEIC),  a qualified investor fund based in the DIFC, raises $212m

DIFC-based build-to-rent property fund raises $212m from US, European and Dubai investors

Global Partners Property Fund I focuses on the Dubai build-to-rent housing market with two projects on the Dubai Water Canal

Dubai Investments acquires 9% stake in UK-based digital bank

Dubai Investments acquires 9% stake in UK-based digital bank

Monument Bank is focused on the overlooked ‘mass affluent’ segment in the UK

Dubai's Emirates NBD reshuffles management team

Emirates NBD’s full-year profit rises 40% to $3.53bn

The lender reported a 36 per cent growth in total income, equalling Dhs32.5bn

DGCX 2022_performance_photo courtesy DGCX

Dubai’s DGCX sees 16% rise in volume of trades in 2022, total value touches $162bn

The exchange reported a 78 per cent increase in the volume of gold contracts traded on the exchange compared to previous year

First Abu Dhabi Bank reports highest ever net profit in 2022

First Abu Dhabi Bank reports highest ever net profit in 2022

The bank’s total income stood at Dhs23.9bn, increasing 10 per cent year-on-year, compared to Dhs21.7bn recorded in 2021

Dubai Islamic Bank

2022: Dubai Islamic Bank reports highest ever net profit

The bank reported Dhs14bn in total income for 2022, registering a 20 per cent year-on-year rise

Credit Suisse

Qatar Investment Authority ups its stake in Credit Suisse

Qatar Investment Authority becomes the Swiss bank’s second largest shareholder just behind the Saudi National Bank

Venture debt funding in MENA crosses $260m in 2022

Venture debt funding in MENA crosses $260m in 2022

Fintech accounted for 61 per cent of total funding between 2018 and 2022

CEO of TAM, abdullah-yusuf.png

Saudi management consultancy TAM receives CMA approval for IPO

The consultancy will list shares on Tadawul’s Nomu-Parallel Market

UAE's FTA opens pre-registeration for corporate tax for select companies

UAE’s FTA starts pre-registration for corporate tax through EmaraTax, open to select firms

The Federal Tax Authority said the early registration is open from January to May for certain categories of companies operating in the UAE

OPEC Fund for development raises $1bn thru debut SDG bond _ photo courtesy OPEC FUND

OPEC Fund’s debut SDG bond raises $1bn

The bond proceeds will be allocated according to the specific criteria defined in the SDG Bond Framework focusing on food security, healthcare, infrastructure, education, employment, and renewable energy

Power Letters 2023: Arif Amiri, CEO, DIFC Authority

Power Letters 2023: Arif Amiri, CEO, DIFC Authority

In 2023, we will continue to focus on expanding our influence to become the largest ecosystem of financial services, technology and innovation in the region

wealth management trends - Abdulmohsin Al Omran, founder and CEO, The Family Office,

How is wealth management faring across the GCC?

Abdulmohsin Al Omran, founder and CEO, The Family Office, gives Gulf Business the lowdown

Power Letters 2023: Nasser Al Awadhi, chief executive officer, ADIB

Power Letters 2023: Nasser Al Awadhi, chief executive officer, Abu Dhabi Islamic Bank

Continuous innovation, segment focus, digital excellence and sustainable future are the core tenets of our 2025 growth strategy

Mubadala kkr tie-up

Davos 2023: Mubadala says Emirates Global Aluminium IPO may happen this year

A listing of the company this year would follow a boom for IPOs in the region that started in 2022 and fetched almost $23bn

Smartworld

UAE’s etisalat by e& named strongest Middle Eastern brand

Tech giant Amazon regained top spot from Apple to become the world’s most valuable brand

Mashreq acquires digital banking license to commence operations in Pakistan

Mashreq acquires digital banking licence to commence operations in Pakistan

The lender aims to invest in the country’s rural infrastructure, including microfinance institutions

Qatar's QNB reports 9% rise in net profit to hit $3.9bn

2022: Qatar’s QNB reports 9% rise in net profit to hit $3.9bn

The lender’s operating income increased 24 per cent to reach $9.6bn

Islamic bank assets in October 2022 CBUAE

UAE Islamic bank assets rise to Dhs607.8bn: CBUAE

The Central Bank of UAE revealed that the total Islamic bank investments touched Dhs102bn by the end of last October