JPMorgan, FAB poised to win roles on IPO of ADNOC drilling unit

ADNOC is looking to sell a minority stake in its drilling unit in a deal that could value the business at up to $10bn

Saudi Arabia names former Aramco dealmaker as economy minister

The new minister, Faisal Alibrahim, had been vice minister of economy and planning since 2018

Abu Dhabi Islamic Bank

Abu Dhabi Islamic Bank posts 125% rise in Q1 net profit

Its revenue increased 3.3 per cent to Dhs1.33bn

Abu Dhabi National Energy Company TAQA

Abu Dhabi’s TAQA completes $1.5bn dual-tranche bond sale

Net proceeds from the sale of the notes will be used to repay outstanding debt

Oman’s first quarter deficit rises to $2bn

Public revenue was OMR1.82bn at the end of March

How Middle East businesses can rise to the net-zero challenge

Banks and FI’s are in a position to play a key role in accelerating the transition to a low carbon economy

Can GCC banks withstand further shocks due to the pandemic?

GDP growth in the GCC countries will slowly recover from last year’s sharp recession

National Bank of Fujairah reports 44.3% year-on-year dip in Q1 net profit

Its total assets reached Dhs39.1bn compared to Dhs39.9bn at 2020 year-end and Dhs43.3bn as at March 31, 2020

How the loss of biodiversity requires relevance and attention

Biodiversity and climate change are deeply connected by the simple fact that our economy relies on natural capital

Saudi developer clinches $3.7bn green loan for The Red Sea Project

The financing is the first riyal-denominated credit facility to receive green financing accreditation

Abu Dhabi, OCI said to pick banks for IPO of fertilizer venture

The company could be valued at about $7bn including debt in the listing

Emirates NBD

Emirates NBD Capital records strongest ever quarter in debt capital market

Emirates NBD Capital led 24 transactions in Q1 2021 raising over $18bn

ADCB

Abu Dhabi Commercial Bank reports Dhs1.121bn in Q1 net profit, up 436 per cent y-on-y

Operating expenses of Dhs1.061bn decreased 20 per cent year-on-year and 1 per cent sequentially

First bitcoin ETF in Dubai aims to raise more than $200m

The Canadian fund is also looking to work closely with lenders in the region

Citi retail units seen fetching $6bn as sales kick off

Citigroup ultimately plans to exit retail-banking operations in Australia, Bahrain, China, India, Indonesia, South Korea, Malaysia, the Philippines, Poland, Russia, Taiwan, Thailand and Vietnam

Checkout.com leads $110m round for Saudi fintech Tamara

The company raised $6m in seed funding at the start of this year

Dina Sam'an Coinmena

The SME Story: Dina Sam’an, founder and managing director of CoinMENA

CoinMENA is a fully-regulated, onshore, and Sharia-compliant crypto assets exchange

Why regional banks must digitise their trade finance platforms right now

Automating the trade financing platform will enable banks to benefit in numerous ways, according to global IT firm Comarch

Hana Al Rostamani FAB

FAB Q1 group net profit at Dhs2.5bn; initiates share transfer to acquire Bank Audi sae Egypt

The acquisition will make FAB one of Egypt’s largest foreign banks by assets with pro-forma total assets of over $8.5bn

Dubai Islamic Bank Nasdaq Dubai sukuk

Dubai Islamic Bank lists $500m sukuk on Nasdaq Dubai

DIB is the leading UAE-based sukuk issuer by value on Nasdaq Dubai with a total value of $6.3bn listed on the exchange

HSBC facilitates first blockchain transaction for steel between UAE, India

The Contour blockchain platform enabled end-to-end digitisation of the documentation required to import flat carbon steel

UAE Central Bank extends economic-support programme until mid-2022

Banks can draw on the facility to provide new loans and financing

UAE’s Emirates Islamic Bank posts 37% rise in Q1 net profit

The bank’s operating profit dipped 12 per cent y-o-y to Dhs319m

Revealed: Top 5 most powerful Arabs in Kuwait

The highest ranked Arabs originating from Kuwait in Gulf Business’ annual Arab power list

Sharjah Islamic Bank

Sharjah Islamic Bank operating profits up 27% in Q1 2021

Net profit for the three months ended March 31, 2021, amounted to Dhs164.2m, compared to Dhs153.7m for the corresponding period last year

Four reasons why investing is for everyone

As economies remain volatile, investing smartly can help anyone achieve financial freedom, according to AIX Investment Group

Citigroup to exit retail banking in 13 markets, including Bahrain

The move is part of an ongoing review of the company’s strategy by its chief executive officer

Qatar stocks surge on plans to allow full foreign ownership

The cabinet approved a draft law that will allow overseas investors to own up to 100 per cent of listed companies

Explainer: Have workplace savings plans taken off in the GCC?

Having a pension solution ensures that the employer sets aside a defined amount on a periodic basis for end of service benefits, opines Reena Vivek, senior executive officer, Zurich Workplace Solution

Tristar pulls Dubai IPO as investors push back on valuation

Tristar’s IPO was slated to be the second listing in three years on the Dubai Financial Market