DIFC to host first edition of Future Sustainability Forum in Dubai image DIFC_WAM

DIFC to host first Future Sustainability Forum in Dubai

The inaugural forum will be held at the Ritz-Carlton DIFC on October 4-5

Emirates NBD to offer fractional bonds for individual investors -GettyImages-630846210

Emirates NBD to offer fractional bonds to individual investors

The product offering will enable accessibility for individual investors to bond markets with a minimum investment of $25,000

Commercial Bank of Dubai posts 41.5 jump in H1 profit

Commercial Bank of Dubai posts 41.5% jump in H1 profit

The bank reported an operating income of Dhs2.5bn in the first six months of 2023, up 41.9 per cent from Dhs1.7bn for the same period a year earlier

Agthia Ventures launched Image Agthia Group

Abu Dhabi-based Agthia Group launches $54m CVC fund

The fund is stage-agnostic and will invest primarily in companies with clear product-market fit that are demonstrating revenue growth

UAE’s ADIB raises $750m in AT1 perpetual Sukuk.

UAE’s ADIB raises $750m in AT1 perpetual Sukuk

The issuance was met with robust demand, attracting interest from over 240 global and regional investors with the final order exceeding $7bn

DIFC first in region to join forces with AIMA_DIFC

UAE’s DIFC partners with Alternative Investment Management Association

The association represents more than 2,100 corporate members with over $2.5tn hedge fund and private credit assets

Taaleem Holdings posts $54.5m in 9M 2023 net profit

Dubai’s Taaleem posts $54.5m profit since IPO

The school operator added 28,563 students for the 2022/23 academic year, a 36.2 per cent YoY increase in enrolments

Abu Dhabi Catalyst Partners makes a strategic investment in MEASA Partners Image creit Abu Dhabi Catalyst Partners

Abu Dhabi Catalyst Partners announces investment in MEASA Partners

Abu Dhabi Catalyst Partners is a joint venture between Mubadala Capital and Alpha Wave Global

EFG Holding’s aiBANK launches instant payments via InstaPay

EFG Holding’s aiBANK launches instant payments via InstaPay

The bank said access to InstaPay App will offer its customers a new level of convenience and flexibility in managing their finances

QNB Group’s H1 net profit jumps 8% to $2.1bn

QNB Group’s H1 2023 net profit jumps 8% to $2.1bn

The bank’s operating income jumped 14 per cent year-on-year to QAR18.5bn compared to the same period a year earlier

etisalat by e& launches payment solution 'uTap'

Etisalat by e& unveils its payment solution uTap

The payment solution allows businesses to securely collect and process payments while seamlessly integrating with their existing processes

ADCB is rebranding its wholesale banking

Here’s why ADCB is rebranding its wholesale banking

The rebranded division brings in-depth knowledge and expertise across a range of markets across the Middle East

Emirates NBD to use generative AI across operations Image credit WAM

Emirates NBD to use generative AI to transform operations

The bank aims to boost software development, collaboration and customer engagement using tools such as GitHub Copilot X, ChatGPT and MS 365 Copilot

Karim Awad, group CEO of EFG Holding on the bank’s transformation journey

Cover story: Shining the spotlight on EFG Holding’s rebranding and growth journey

Powered by a strategic rebranding, EFG Holding continues to maintain a competitive edge across frontier and emerging markets. Group CEO Karim Awad shares the details

Abu Dhabi’s ADQ, Canada’s BMO to acquire minority stakes in Sagard

ADQ, Canada’s Bank of Montreal to acquire minority stakes in Sagard

The transaction is expected to close in the third quarter, subject to regulatory approvals

shuaa

Dubai’s Shuaa bolsters investment bank with Credit Suisse hires

The latest round of hiring at Shuaa Capital comes amid a flurry of capital markets activity in the Middle East

DIFC aims to attract 50 hedge funds to Dubai photo courtesy Dubai Media Office twitter

US hedge fund Verition chooses DIFC for global expansion

Verition manages approximately $7.3bn across its strategies, with over 400 employees globally

central bank outlines measures to alleviate burden of residential property loans for UAE nationals Image courtesy CBUAE

UAE issues measures to address impact of rising interest rates on property loans for citizens

The notice was issued following approval from the Central Bank of UAE’s board of directors, with the measures coming into effect from July 1

BARAKAH

Barakah One completes refinancing of Barakah plant

The KEXIM loan facilities were refinanced through a competitive market process resulting in the selection of two banks, ADCB and FAB

Emirates NBD introduces carbon market trading -GettyImages-630846210

UAE’s Emirates NBD introduces compliant carbon market trading

The offering will help the bank’s clients to seamlessly tap global carbon credit markets to support their net zero ambitions and sustainability goals

Wio Bank, ADX partner to enable instant, digital IPO subscriptions

Wio Bank, ADX partner to enable instant, digital IPO subscriptions

The bank allows its customers to digitally create an investor number on the Abu Dhabi bourse and apply for IPO subscriptions

emaar

Emaar shares push Dubai stocks to 2015 high as economic outlook lifts mood

S&P Global Ratings recently upgraded Emaar Properties based on the strong demand seen in the UAE’s real estate sector

Abu Dhabi Global Market introduces Sustainable Finance Regulatory Framework Image ADGM

Abu Dhabi Global Market introduces regulatory framework for sustainable finance

The framework complements ADGM’s existing regulation of carbon offsets, facilitating the establishment of the world’s first regulated carbon offsets exchange and clearing house

HDFC

HDFC vaults into ranks of world’s most valuable banks

The tie-up of HDFC Bank and Housing Development Finance Corporation creates a lender that ranks fourth in equity market capitalisation

UAE national banks provide $201bn in financing by April

UAE national banks provide $201bn in financing by April

The banks increased their credit balance by Dhs2.1bn or 0.3 per cent in April 2023, up from Dhs735.2bn a month earlier

UAE banking system

UAE banks reap the benefits of an economic boom

Strong capital buffers have supported the UAE financial services sector over the years and banks are re-articulating their value proposition to thrive in the new digital environment

Qatari banks’ external debt

Qatari banks’ external debt: Is the problem over?

One of the main sources of concern for the Qatari banking system has been the build-up of external debt

Bahrain’s Al Salam Bank acquires majority stake in Algerian unit

Bahrain’s Al Salam Bank acquires majority stake in Algerian unit

The plans to further support its Algerian business to accelerate its growth and capture new pockets of opportunities within the country and the wider region

DET AND MASTERCARD DIGITAL PARTNERSHIP

Dubai Tourism, Mastercard launch digital city partnership

The digital partnership will work to accelerate growth across the tourism ecosystem

Astra Tech National Bonds Sign MOu to iffer investment solutions to Botim Image Astra Tech Botim

Botim users to benefit from Astra Tech, National Bonds saving, investment solutions

This partnership gives Astra Tech customers access to microfinance options specifically designed for individuals with low and medium incomes through Botim, supported by National Bonds’ Al Manassah Platform