Emirates NBD

Dubai’s Emirates NBD nine-month profit rose an annual 29% to Dhs7.3bn

The bank reported a nine-month total income of Dhs17.3bn as compared to Dhs18.3bn in the previous year

Fertiglobe set to price Abu Dhabi IPO at top end of price range

ADNOC and OCI are offering 13.8 per cent of Fertiglobe in the IPO

in5 dubai

Startups at Dubai’s in5 secure investments worth Dhs1.4bn

More than 150 new companies joined in5 since 2020, bringing the total number of startups supported by the incubator to 500

Dubai-world-trade-centre-DWTC

CoinMENA partners with DWTC to set up crypto asset and blockchain hub in Dubai

The MoU was signed during the opening day of the Future Blockchain Summit at GITEX Global 2021

dubai-silicon-oasis

Dubai Silicon Oasis Authority launches Sandbox programme to support early-stage tech startups

The programme operated by the Dubai Technology Entrepreneur Campus will offer services worth over Dhs550,000

Uber, Careem said to face $100m tax bill in Saudi

The claims are reportedly related to a dispute over how to calculate value-added tax

Family offices raise bets on startups in $418bn market

Family offices made up 4.2 per cent of the roughly 23,000 venture capital deals worldwide this year through August 31

Etihad

Etihad raises $1.2bn in aviation’s first sustainability-linked ESG loan

Loan terms tied to targets to reduce CO2 emissions, increase corporate governance and promote female participation

The US replaces China as world’s biggest Bitcoin miner

At the end of August, America accounted for 35.4 per cent of the global hash rate

Saqr - Fintech surge and United Arab Bank

The disruption of financial industry with challenger banks

In an interview with Gulf Business, Saqr Ereiqat, co-founder and managing partner of Riddermark and Ahmad Abu Eideh, CEO of United Arab Bank, share their insights from the industry

Abu-Dhabi

New Dhs5bn Abu Dhabi IPO fund launched to support SMEs

The fund will invest in five to 10 private companies per year

Mashreq NEO to become UAE’s first digital bank to use facial recognition for account opening

Mashreq NEO has collaborated with the UAE’s Ministry of Interior to introduce a face biometric-based digital account opening process

Saudi Crown Prince launches National Investment Strategy

The strategy will contribute to the growth and diversification of the kingdom’s economy

Gold steadies as traders weigh elevated inflation, growth risks

Spot gold steadied at $1,755.18 an ounce at 9.40am in Singapore, after retreating 0.2 per cent on Monday

Biggest Saudi IPO since Aramco jumps 30% on trading debut

ACWA Power is now valued at $14.2bn, making it one of the biggest listed companies in Riyadh

UAE’s market regulator appoints first female CEO

Dr. Maryam Buti Al Suwaidi was previously the authority’s acting CEO

Solar Energy Masdar Armenia

Biggest Saudi IPO since Aramco set for Riyadh trading debut

Initial demand amounted to several billion dollars

Saudi exchange Tadawul is said close to IPO at $4bn value

An IPO of Tadawul has been on the cards since at least 2016

Dubai’s Emirates NBD signs $750m financing facility with Emirates Airline

Emirates NBD acted as bookrunner, mandated lead arranger and global agent for the transaction

Dubai Financial Services Authority provides regulatory framework for future of finance

The DIFC is now home to more than 3,200 companies and nearly 28,000 staff, while the DFSA regulates 521 financial services firms

Abu Dhabi UAE government

UAE markets its first federal bond to global investors

The UAE passed a law in October 2018 allowing the federal government to issue sovereign debt for the first time

Dubai’s Emirates NBD to expand presence in India with approval for two new branches

The new branches will be in Gurugram and Chennai

Oman’s first S&P upgrade in over a decade may be on the cards

Oman’s fiscal deficit may narrow to 4.2 per cent of gross domestic product in 2021

ADQ is said to take 50% stake in IHC’s Eltizam Asset Management

IHC shares have nearly quadrupled over the past year

All you need to know about Central Bank digital currencies

Central Bank digital currencies built around Bitcoin-like technologies that promote transparency offer potential for positive outcomes

Sheikh Khaled bin Mohamed inaugurates new trading floor at Abu Dhabi Securities Exchange

The new trading floor serves all stakeholders under one roof

Gold near 7-week low as yields climb, inflation worries persist

Gold is heading for its biggest monthly loss since June as more central banks start signaling a pullback in stimulus measures

Saudi Arabia may issue a green bond by 2022, ‘if not before’

The global market for debt that complies with environmental, social or governance goals (ESG) looks set to top $1 trillion this year

Saudi sovereign wealth fund acquires 25% stake in Emaar the Economic City

The transaction is in line with Public Investment Fund’s Strategy 2021-2025, which focuses on building strategic economic partnerships

Chinese regulators are serious about banning crypto this time

Authorities said crypto transactions in China are banned and they will root out mining of digital assets