QNB Group’s nine-month net profit surges by 8%

QNB Group’s nine-month net profit surges by 8%

The bank’s deposit base rose by 4 per cent between January and September to reach $226bn

birkenstock

Birkenstock set for US listing after $1.5bn IPO

Birkenstock is the fourth major company to launch a US IPO in the last four weeks

Abu Dhabi’s Masdar lists green bond on ADX

Abu Dhabi’s Masdar lists $750m green bond on ADX

The 10-year notes, which were 5.6 times oversubscribed, carry a 4.87 per cent coupon rate and will mature in July 2033

EDB advances food security with Dhs721m in funding

EDB supports food security with Dhs721m under its five-year strategy

Food security is one of the five priority sectors that the development bank supports to contribute to the country’s national development agenda

Chinese funds look to the Middle east

China equity funds look to Middle East cash as US investments wane

Big US investors such Texas Teachers’ Pension and California State Teachers’ Retirement System have cut exposure to Chinese equities

ADIA optimistic on equities, private credit after turbulent 2022

Sovereign wealth fund ADIA optimistic on equities, private credit after turbulent 2022

The fund is looking at opportunities in the private credit market, as banks become more cautious about lending due to rising financing costs

UAE approves 2024-2026 federal budget of Dhs192bn

UAE approves 2024-2026 federal budget of Dhs192bn

The budget estimates expenditures of Dhs64.1bn in 2024, up 1.6 per cent from estimates for 2023

stock markets

Israel-Palestinian crisis: Major Gulf stock markets fall

Almost all the stocks on the index were in negative territory including blue-chip developer Emaar Properties

Al Ansari approves Dhs350m interim dividend

Al Ansari’s board recommends Dhs300m interim dividend

The proposed dividend payout is in line with the company’s previously announced dividend policy of distributing Dhs600m

SNB and Mastercard launch UEFA Champions League cards

Saudi National Bank, Mastercard launch UEFA Champions League cards

The cards, the first of their kind in the kingdom, include a cashback credit card and prepaid card without annual fees

Egypt inflation

Egypt banks suspend debit card use in foreign currency

Banks in recent months have been tightening the amount of foreign currency clients can use in Egypt and on how much can they can charge to their credit cards while abroad

Taaleem’s full-year net profit surges by 41.5%

Dubai’s Taaleem records Dhs117.3m in full-year profit

The school operator added 28,490 new students for the 2022/23 academic year, a 35.9 per cent year-on-year increase in enrolments

Here’s how MoneyGram is fostering growth strategy after privatisation

Exclusive: Alex Holmes on MoneyGram’s transformation and growth journey

The global CEO and chairman explains how the company has emerged as an industry-leading digital remittance firm providing an expansive set of offerings

Sheikh Mohammed, Vice President and PM of UAE and Ruler of Dubai issues decree to form ICD board courtesy_Dubai Media Office

Dubai: Sheikh Mohammed issues new decree to form ICD board

The Investment Corporation of Dubai is the principal investment arm of the emirate’s government

Adani Enterprise Ltd Image IHC X

Abu Dhabi-based IHC increases stake in Adani Enterprises to above 5%

This development follows last week’s announcement by IHC that it had entered a definitive agreement to sell its stake in AGEL and ATL

EFG Holding’s Valu to launch in Jordan in early 2024

EFG Holding’s Valu to launch in Jordan in early 2024

The fintech firm said its expansion into Jordan is at an advanced preparation stage

National Bonds unveils ‘millionaire’ saving plan

Millionaire in 10 years: National Bonds unveils ‘My One Million’ saving plan

Companies can contribute on behalf of their employees, which is expected to enhance employee retention

Lombard Odier

Swiss bank Lombard Odier plans expansion after getting new Dubai licence

The Swiss bank is expanding its UAE presence as part of a push to tap family wealth and a growing pool of entrepreneurs

alternative investment

The UAE as the new alternative investment hub

A look at the emerging trends and challenges in risk management for alternative investment fund managers

DIB acquires minority stake in Türkiye’s T.O.M. Group

DIB acquires minority stake in Türkiye’s T.O.M. Group

The transaction will be formalised after the clearance from the Turkish competition watchdog

How cloud technology is driving innovation in GCC banking sector

How cloud technology is driving innovation in GCC banking sector

The cloud allows banks to launch new products and services quickly and easily, such as mobile apps and digital wallets

Finding the right balance Virtual assets regulation in the UAE

Finding the right balance: Virtual assets regulation in the UAE

The new CBUAE guidance related to the virtual assets sector is aimed at strengthening the supervisory and regulatory frameworks of the country’s central bank and other relevant bodies in line with global best practices

Dubai Government cuts public debt by Dhs29bn

Dubai Government reduces public debt by Dhs29bn

The emirate repaid Dhs20bn as part of its total financing from Abu Dhabi and the Central Bank of the UAE

SFD _Saudi fund for development and AIIB sign contribution agreement

Saudi’s SFD to contribute $10m towards development projects in Asia

Since 1975, SFD has funded more than 700 development projects worth $18.7bn in over 90 countries around the world

EFG Hermes concludes advisory on Lumi Rental’s $290m IPO

EFG Hermes concludes advisory on Lumi Rental’s $290m IPO

The offering marks EFG Hermes’ fifth IPO this year and is the latest in a series of transactions the investment bank has advised on in the GCC region

ADNOC, TAQA secure financing for $2.2bn water project

ADNOC, TAQA close $2.2bn financing for water project

The project is being financed by a group of nine local and international banks, through a combination of commercial and Islamic finance facilities

Saudi Arabia’s SAL Logistics IPO could fetch $678m

Saudi Arabia’s SAL Logistics seeks to raise $678m from IPO

The logistics firm set the price range at SAR98 and SAR106 per share, implying a market capitalisation on listing of as much as SAR8.5bn

ADCCI partners with three local banks

These 3 Abu Dhabi banks have partnered with ADCCI

The partnerships seek to introduce members and investors to a range of services, promotional packages, and financing assistance programmes

Egypt credit sector

Egypt: Driving financial independence

As the first licensee of consumer finance in Egypt, Contact has played a pivotal role in growing the non-bank credit sector

ADIB redeems sukuk worth $750m

ADIB redeems sukuk worth $750m

The trading of the certificates on the Irish Stock Exchange was cancelled upon redemption of the certificates