Binghatti marks successful $300m sukuk issuance

Dubai’s Binghatti celebrates successful $300m sukuk issuance

The issuance marks the first real estate benchmark US dollar-denominated sukuk from the MENA region in 2024

UAE makes $35bn FDI investment in Egypt-GettyImages-520265584-e1703142282632

UAE’s mega $35bn deal marks largest FDI in Egypt’s history

The project is expected to create significant job opportunities, attract further foreign investment, and contribute to the North African country’s tourism and economic growth potential

UAE exits FATF’s ‘grey list’ amid reforms

An exit from the grey list marks a swift turnaround for the UAE, which was initially added to the list of jurisdictions under increased monitoring in March 2022

Global debt tops $313tn in 2023, says IIF

Global debt hits new record high at $313tn in 2023, says IIF

India, Argentina, China, Russia, Malaysia and South Africa registered the largest increases, signalling potential growing challenges in debt repayments

TECOM Group’s in5 startups post 25% funding growth in 2023

Funding for startups at TECOM Group’s in5 surges by 25% in 2023

in5 has incubated about 900 startups since its inception, and its tech-focused vertical is currently home to 270 active startups

Saudi Arabia mulls follow-on share offerings framework

Saudi Arabia considers regulatory framework for follow-on share offerings

The framework would be a process that is governed and regulated and a catalyst for increasing the free float of listed companies

Binghatti branded residence

Dubai-based developer Binghatti to debut US Dollar bond offering

Investor meetings are scheduled to start from February 20 and will be followed by a benchmark-sized US dollar-denominated unsecured Sukuk offering

Saudi Arabia posts 2023 budget deficit of $22bn

Saudi Arabia’s GDP has ‘nearly doubled’ since 2016

Saudi Arabia’s Minister of Investment, Khalid Al-Falih shared these milestones at the third Saudi Capital Market Forum in Riyadh on February 19

How GCC sovereign funds are accelerating growth

Why GCC wealth funds are becoming engines of regional growth

Sovereign funds in the GCC region are key to their respective governments’ national development plans and contribute to deploying national wealth in strategic sectors of interest

DIFC company registrations surge by 34% in 2023

DIFC says company registrations rose by 34% in 2023

The financial hub said 1,451 new companies commenced operations in the centre last year, the highest number of new registrations in 20 years

Why the UAE is emerging as the preferred wealth hub for HNWIs

Here’s why the UAE is attracting more high-net-worth individuals

Yves Bruggisser, equity partner and Head of Zone Middle East Pictet Wealth Management tells us that the UAE is at the heart of a networking hub that attracts innovation and ambition

Emirates NBD introduces Dhs9-prize draw for customers -GettyImages-630846210

Emirates NBD’s Dhs9m prize draw encourages savings

Three customers depositing at least Dhs500,000 into their current or savings accounts have the opportunity to win Dhs1m each

Alpha Dhabi’s annual profit surges to Dhs13.3bn

IHC’s Alpha Dhabi posts Dhs13.3bn in full-year net profit

The group’s balance sheet remains resilient with Dhs140.4bn in assets and a strong cash position of Dhs20.2bn

For illustrative purposes

WGS 2024: New Buna system to ease cross-border payments in Arab region

The platform currently links 108 out of 120 Arab banks signed up, with a target of 160 by the end of 2024

Bitcoin hits $50,000 level for first time in more than two years

Bitcoin hits $50,000 level for first time in more than two years

The cryptocurrency has risen 16.3 per cent so far this year, on Monday touching its highest since December 27, 2021

Investcorp plans 2024 listing of GCC portfolio company

Bahrain’s Investcorp plans 2024 listing of GCC portfolio company

The alternative investment firm listed Investcorp Capital on the Abu Dhabi exchange last year, defying a depressed market for IPOs

Dubai unlocks Dhs500m to fuel SME growth, here's how firms can apply Image-credit-WAM

Dubai unlocks Dhs500m to fuel SME growth, here’s how firms can apply

A dedicated specialist will conduct a comprehensive review of the applicants’ business followed by the joint steering committee’s review for inclusion in the initiative

MENA region dealmaking jumps 4% to $86bn in 2023

M&A activity in MENA region jumps 4% to $86bn in 2023

The UAE consolidated its status as the preferred destination for investors due to its business-friendly regulations and efficient legal framework

ALDAR

Aldar reports record 40% net profit on sales surge

The company attributed the growth to its highest-ever quarterly development sales of Dhs8.5bn in Q4, with full-year sales reaching a record Dhs27.9bn

Lunate, Blue Owl partner to invest in mid-size asset managers

ADQ’s Lunate partners with Blue Owl to invest in mid-size asset managers

The joint venture seeks to acquire minority stakes in private market investment managers with fee-paying AuM of less than $10bn

Savola Almarai

Saudi’s Savola to distribute 34.52% stake in Almarai to shareholders

Savola’s board has approved the rights issue and the distribution of Almarai shares

Modern Mills to list 30% stake in Riyadh IPO

Saudi Arabia’s Modern Mills to sell 30% stake in IPO on local bourse

The company appointed HSBC as the sole financial adviser, global coordinator and lead manager on the deal and Emirates NBD Capital as joint book runner and underwriter

Saudi Arabia’s NEOM expands global reach with New York office

Saudi Arabia’s NEOM expands global reach with New York office

The new office presents an opportunity for the company to explore new partnerships and investments

Regulations for VASPs GettyImages-1366240594

Virtual assets: Why VASPs should stay on the right side of the law

The UAE is ushering in a new era of regulatory oversight for virtual asset activities. We speak to Karm Legal Consultants about what this means for virtual asset service providers

GCC insurance sector growth soars: $44.4bn projection by 2028

Saudi Arabia has emerged as the largest insurance market in the GCC surpassing the UAE

IHC Announces Stellar Preliminary Financial Results for 2023 Image courtesy IHC X

IHC sees 18% revenue jump in 2023, as diversification pays off

Diversification into new sectors and strategic acquisitions fuelled growth, with preliminary net profit remaining strong at Dhs32.75bn

DFSA issues first ESG fee waiver to Emirates NBD

DFSA issues first ESG fee waiver to Emirates NBD

The waiver applies to all new and repeat issuers who make a relevant application to the financial regulator

paytm

Thousands of accounts at India’s Paytm Payments Bank set up improperly: Report

Paytm’s stock plunged 36 per cent in the two days following the RBI’s move against its bank wiping $2bn off its market value

Abu Dhabi Commercial Bank - ADCB

UAE bank ADCB Q4 net profit jumps 38%, beats forecasts

Net interest income in the fourth quarter increased by 17 per cent year-on-year to Dhs3.41bn

What is the average salary increase in the UAE in 2024?

More than one-third of companies have plans to raise wages by up to 5 per cent