IHC announces profits for nine month period

Abu Dhabi-based IHC reports 236 per cent rise in profit for first nine months

Continued momentum in direct and indirect acquisitions were the main drivers behind the growth rate over the previous year’s quarter, with IHC’s total assets increasing to Dhs198.8bn

Finastra's Nour Sabri on baas in Saudi Arabia

Insights: How BaaS can transform consumer financing in Saudi Arabia

While securing a bank loan that suits individual needs can be time-consuming and often unsuccessful, banking as a service may be the solution

renewable energy stocks pexels-pixabay-356036-800x526-1

What you need to know about investing in renewable energy stocks

Investing in green stocks can be a great way to protect your portfolio from market volatility

Mark Napier VP Director DWTC

Insights: How food producers can leverage sustainability-linked financing

The global food production industry is increasingly turning to green financing as a way of mitigating its impact on the planet

Investcorp, Fung Capital to start $500m Greater Bay fund

The fund will mainly focus on buyouts of firms in or close to the region that spans the Chinese cities of Hong Kong and Macau

CBUAE launches new website

UAE Central Bank raises interest rate by 75 basis points

The US Federal Reserve upped its policy rate by three-quarters of a percentage point for the fourth consecutive time


Dubai’s Empower increases IPO stake size from 10% to 15%

The company’s market capitalisation at listing is expected to be between $3.56bn and $3.62bn

UAE's finance ministry amends some provisions of VAT law

UAE’s finance ministry amends some provisions of VAT law

The amendments were based on past experiences, challenges faced by various business sectors and recommendations received from relevant parties

Saudi Arabia

Saudi net reserves surge near $449bn, highest since 2020

The stockpile grew by SAR36.8bn from the previous month in the biggest increase since June

Empower reports robust growth of 41.3%

Dubai seeks to raise $362m from district cooling firm IPO

Empower will start taking investor orders for the IPO from Monday, with final pricing scheduled for November 9

Amanat buys 60% stake in HDC

UAE’s Amanat acquires 60% stake in Human Development Company for Dhs215.3m

Based in Saudia Arabia, Human Development Company provides educational, medical and rehabilitation services

Dubai’s DFSA signs MoU with Bangladesh Securities and Exchange Commission

The agreement provides a framework for facilitating cross-border collaboration between the two authorities on supervision and enforcement actions

How do you choose the right trading platform and app in Middle East?

Choosing the right broker to trade with can be a daunting task. Here, we list the most important criteria and sources to follow in order to make an informed decision

Habib Bank AG Zurich opens branch in DIFC to expand footprint

Habib Bank AG Zurich opens branch in DIFC to expand footprint

The new branch will offer clients a Swiss platform, with a focus on wealth preservation and legacy planning


Bitcoin breakout stalls with daily trading volume also tumbling

Cryptocurrencies, like other riskier investments, have been suffering in a tighter-monetary-policy environment

Dubai Financial Market Company

Dubai Financial Market Company posts 133% rise in net profit for nine-month period

The company’s total revenue reached Dhs237.8m during the first nine months of the year

Saudi finance chief says economy more resilient to global shocks

The kingdom has its lowest unemployment rate in two decades and has managed to keep inflation at 3 per cent

Emirates NBD

Emirates NBD reports 25% rise in net profit for first nine months of 2022

The lender posted total income of Dhs22.7bn, rising 31 per cent year-on-year

Credit Suisse

Credit Suisse to raise $4bn to fund a sweeping overhaul

The plan includes carving out Credit Suisse’s advisory and leveraged finance business into a separate unit renamed Credit Suisse First Boston

National Bank of Fujairah posts 155.1% rise in nine-month net profit

National Bank of Fujairah posts 155.1% rise in nine-month net profit

The lender posted an operating profit of Dhs932.5m for the first nine months of the year, marking a 25.1 per cent rise compared to the previous year

Aramco launches sustainability fund

Aramco to set up $1.5bn sustainability fund

The fund will be managed by Aramco Ventures, the venture capital arm of the oil giant

FTA to enable digital payments through Magnati

UAE Federal Tax Authority to discontinue eDirham system for tax payment

The eDirham system will be replaced with Magnati, the smart payment option from First Abu Dhabi Bank

Saudi's PIF to establish 5 companies to pursue investments

Saudi’s PIF to establish five companies to pursue investments in Bahrain, Oman, other countries

The announcement follows the launch of the Saudi Egyptian Investment Company in August

Former Abraaj COO reaches settlement with Dubai’s DFSA

Former Abraaj COO reaches settlement with Dubai’s DFSA

Waqar Siddique has withdrawn his Financial Markets Tribunal review and will not contest the regulator’s findings

First Abu Dhabi Bank reports 19% rise in nine-month net profit

The bank’s total income for the first nine months of the year stood at Dhs18bn, up 13 per cent year-on-year over the previous year

ADIB reports highest quarterly net profit for Q3 2022

ADIB reports highest quarterly net profit for Q3 2022, crossing Dhs1bn

The bank registered Dhs2.45bn in net profit for the first nine months of 2022

Saudi Stock Exchange CEO Sees Strong IPO Pipeline in Busy Year

Saudi stock exchange CEO sees strong IPO pipeline in busy year

The Middle East is having a banner year for IPOs on the back of high oil prices, investor inflows and strong demand for share sales

mashreq posts q3 2022 results

UAE’s Mashreq bank posts net profit of Dhs2.6bn for Q3 2022

The bank’s operating income increased by 24.3 per cent over the previous year to Dhs5.3bn

Mastercard BitOasis crypto-linked card

Mastercard, BitOasis to launch crypto-linked cards in MENA region

BitOasis customers will be able to link their crypto wallet balances to physical or virtual cards and make fiat payments across 90 million global locations using their BitOasis Mastercard Crypto Card

Achieving net zero will require the full might of the banking sector

Banks are already facilitating private sector engagement in net zero, and this will deepen in the coming years