ABHI to relocate headquarters to Abu Dhabi

Pakistan’s ABHI moves to Abu Dhabi in bid to deepen tech ties

The fintech platform is currently in discussions with multiple UAE banks about rolling out its solutions

Emirates NBD posts Dhs21.5bn in full-year profit

Dubai’s Emirates NBD posts 65% rise in 2023 earnings

The Dubai-based lender proposed a dividend of 120 fils per share for last year, doubling the amount paid to shareholders in 2022

Dubai Financial Services Authority registers 117 firms in 2023, reflects 25% YoY growth Image WAM

Dubai Financial Services Authority registered 117 firms in 2023, reflecting 25% growth

The regulator licenced and registered a record-breaking 117 firms during the 12 months. This reflected an increase of 25 per cent from the previous year.

Saudi Arabia’s PIF seeks to raise $5bn from bond sale

Saudi Arabia’s PIF taps debt market with $5bn three-part bond

The triple-tranche bond sale generated strong demand, with orders worth over $27bn

Nasser Al Awadhi - group CEO adib

Power Letters 2024: Nasser Al Awadhi, group CEO of ADIB

Abu Dhabi Islamic Bank is actively working on prioritising substantial investments in renewable energy, clean technology, and eco-friendly projects

Saudi Tadawul Group acquires 32.6% stake in Dubai Mercantile Exchange

Saudi Tadawul Group acquires 32.6% stake in Dubai Mercantile Exchange

The trading platform will be rebranded the Gulf Mercantile Exchange and expand in energy, metals and agricultural products as part of the deal

United Printing & Publishing rebrands to E7 Group

Abu Dhabi’s United Printing & Publishing rebrands to E7 Group

The new brand identity combines ‘Emirates’ and ‘7’ and is inspired by the UAE’s unity and future-facing strategy

Oman

Oman sets up OMR2bn fund to oversee government investments

The fund offers funding and investment solutions to various investor categories including private sector organisations, SMEs, foreign investors, and startups

ADCB obtains Saudi banking licence in regional expansion push

ADCB secures Saudi banking licence in regional expansion push

The bank will provide services for both corporate and institutional clients, including financing and working capital solutions

Saudi's Aramco allocates $4bn to expands global VC programme Image: Getty Images

Energy giant Aramco allocates $4bn to expand global VC programme

Aramco’s venture capital programme supports the development of disruptive new technologies and creates diversification opportunities for Aramco while paving the way for collaborations with innovative startups

Dubai wealth fund unveils new logo in rebranding push

Dubai wealth fund unveils new logo in rebranding push

The fund is chaired by Sheikh Hamdan bin Mohammed Al Maktoum, Crown Prince and Chairman of The Executive Council of Dubai

Brand Finance reveals list of most valuable and strong Middle East brands GettyImages-1704332489-e1700216889673

Revealed: Here are the Middle East’s most valuable brands

The ranking revealed that Saudi’s Aramco retained its status as the most ‘valuable’ Middle Eastern brand in global ranking, followed by ADNOC and stc

MBRGI and WFP Dhs43m-contributed-to-food-support-in-Gaza-GettyImages

Gaza relief: UAE’s MBRGI contributes Dhs43m in direct food aid

Mohammed bin Rashid Al Maktoum Global Initiatives has inked a new agreement with WFP to implement sustainable food projects and deliver food aid

Moustafa Gad headof investment Banking at EFG Hermes

Power Letters 2024: Moustafa Gad, head of Investment Banking of EFG Hermes, an EFG Holding Company

Looking at the landscape, 2024 promises to sustain the momentum in the GCC region, with Saudi Arabia taking centre stage, says Gad

OKX receives VASP licence from Dusai’s VARA

Crypto exchange OKX secures VASP licence from Dubai’s VARA

When operational, the licence will enable the company to provide spot services and spot-pairs services to qualified retail clients

Saudi Arabia: Middle East Healthcare to issue SAR-denominated sukuk Image: Getty Images

Saudi Arabia: Middle East Healthcare to issue SAR-denominated sukuk

The company, which is listed on Riyadh’s Tadawul exchange and manages Saudi German Hospitals, will use the proceeds for general corporate purposes

China Construction Bank’s $600m green bond listed in Dubai

China Construction Bank lists $600m green bond on Nasdaq Dubai

The total value of bonds listed on Nasdaq Dubai by the lender, comprising the issuances by Hong Kong and Dubai branches, now stands at $2.45bn

Saudi inflation eases further in December to 1.5%

Saudi inflation continues to ease in December to 1.5%

The statistics authority said rental prices increased by 9 per cent in December 2023

GII acquires SAR600m stake in Saudi hospital chain

Dubai’s GII invests SAR600m in Saudi hospital chain

Abeer operates about 50 health-care facilities including hospitals, pharmacies and clinics in Saudi Arabia and the GCC region

Bal Krishen of Century Financial - Power Letters 2-24

Power Letters 2024: Bal Krishen, chairman and CEO, Century Financial

The year ahead brings with it opportunities but uncertainties, highlighting the significance of investors staying vigilant to these evolving market trends

BlackRock acquires GIP (Photo by Andrew Burton/Getty Images)

BlackRock to buy infrastructure firm Global Infrastructure Partners for $3bn

GIP is the world’s largest independent infrastructure manager with more than $100bn in AUM and a strong reputation for driving operational improvements in its portfolio companies

Saudi Arabia’s Avalon Pharma sets IPO price range

Saudi Arabia’s Avalon Pharma sets IPO price range

The company will offer six million shares, or 30 per cent of its issued share capital, on the Saudi Exchange

QNB Group’s full-year net profit jumps 8%

QNB Group posts QAR15.5bn in full-year profit

The banking group had QAR1.23tn in total assets at the end of December, a 4 per cent increase, driven by growth in loans and advances

FAB issues $800m sukuk, marks first for the year globally

UAE: FAB issues 5-year $800m sukuk, marks first for the year globally

The order book for First Abu Dhabi Bank’s sukuk, which was 1.9 times oversubscribed, represented leading investors, including international fund managers, banks and supranationals

Oman

Oman sets up sustainable finance framework in green push

The Sultanate plans to issue sustainable finance instruments whose proceeds will be used to fund and re-finance renewable energy projects

ADIB launches b2b digital marketplace for smes Image Supplied

Abu Dhabi Islamic Bank launches b2b marketplace for SMEs

The all-in-one digital platform aims to significantly reduce the cost of doing business for SMES by providing them with a wide range of exclusive offers and discounts

US SEC gives bitcoin ETFs the green light

US SEC approves bitcoin ETFs in watershed for crypto market

The regulator approved 11 applications, including from BlackRock, despite warnings from some officials and investor advocates that the products carried risks

tokenisation

Insights: Here’s how to fight fraud with tokenisation

As financial services become more sophisticated, so do the fraudulent techniques used by scammers. But this is where tokenisation can make a difference

Saudi Arabia leads MENA venture capital market

Saudi Arabia secures $1.4bn in 2023, leads MENA VC fundraising

The kingdom’s venture capital market was boosted by the government’s focus on innovation, a dedicated unicorn project, and investments from sovereign funds

Mubadala lists dual currency bond on ADX

Abu Dhabi’s Mubadala lists $5.3bn dual currency bond on ADX

The listings include Mubadala’s debut green bond and the fund’s inaugural dirham-denominated bond