DGCX 2022_performance_photo courtesy DGCX

Dubai’s DGCX sees 16% rise in volume of trades in 2022, total value touches $162bn

The exchange reported a 78 per cent increase in the volume of gold contracts traded on the exchange compared to previous year

First Abu Dhabi Bank reports highest ever net profit in 2022

First Abu Dhabi Bank reports highest ever net profit in 2022

The bank’s total income stood at Dhs23.9bn, increasing 10 per cent year-on-year, compared to Dhs21.7bn recorded in 2021

Dubai Islamic Bank

2022: Dubai Islamic Bank reports highest ever net profit

The bank reported Dhs14bn in total income for 2022, registering a 20 per cent year-on-year rise

Credit Suisse

Qatar Investment Authority ups its stake in Credit Suisse

Qatar Investment Authority becomes the Swiss bank’s second largest shareholder just behind the Saudi National Bank

Venture debt funding in MENA crosses $260m in 2022

Venture debt funding in MENA crosses $260m in 2022

Fintech accounted for 61 per cent of total funding between 2018 and 2022

CEO of TAM, abdullah-yusuf.png

Saudi management consultancy TAM receives CMA approval for IPO

The consultancy will list shares on Tadawul’s Nomu-Parallel Market

UAE's FTA opens pre-registeration for corporate tax for select companies

UAE’s FTA starts pre-registration for corporate tax through EmaraTax, open to select firms

The Federal Tax Authority said the early registration is open from January to May for certain categories of companies operating in the UAE

OPEC Fund for development raises $1bn thru debut SDG bond _ photo courtesy OPEC FUND

OPEC Fund’s debut SDG bond raises $1bn

The bond proceeds will be allocated according to the specific criteria defined in the SDG Bond Framework focusing on food security, healthcare, infrastructure, education, employment, and renewable energy

Power Letters 2023: Arif Amiri, CEO, DIFC Authority

Power Letters 2023: Arif Amiri, CEO, DIFC Authority

In 2023, we will continue to focus on expanding our influence to become the largest ecosystem of financial services, technology and innovation in the region

wealth management trends - Abdulmohsin Al Omran, founder and CEO, The Family Office,

How is wealth management faring across the GCC?

Abdulmohsin Al Omran, founder and CEO, The Family Office, gives Gulf Business the lowdown

Power Letters 2023: Nasser Al Awadhi, chief executive officer, ADIB

Power Letters 2023: Nasser Al Awadhi, chief executive officer, Abu Dhabi Islamic Bank

Continuous innovation, segment focus, digital excellence and sustainable future are the core tenets of our 2025 growth strategy

Mubadala kkr tie-up

Davos 2023: Mubadala says Emirates Global Aluminium IPO may happen this year

A listing of the company this year would follow a boom for IPOs in the region that started in 2022 and fetched almost $23bn

e& enterprise

UAE’s etisalat by e& named strongest Middle Eastern brand

Tech giant Amazon regained top spot from Apple to become the world’s most valuable brand

Mashreq acquires digital banking license to commence operations in Pakistan

Mashreq acquires digital banking licence to commence operations in Pakistan

The lender aims to invest in the country’s rural infrastructure, including microfinance institutions

Qatar's QNB reports 9% rise in net profit to hit $3.9bn

2022: Qatar’s QNB reports 9% rise in net profit to hit $3.9bn

The lender’s operating income increased 24 per cent to reach $9.6bn

CBUAE banks savings deposits

UAE Islamic bank assets rise to Dhs607.8bn: CBUAE

The Central Bank of UAE revealed that the total Islamic bank investments touched Dhs102bn by the end of last October

Tesla

Dubai Islamic Bank launches financing solution for future Tesla owners

The fully digital financing process will make it easier for Tesla customers to apply for auto financing and improve their buying experience

Central-Bank-of-the-UAE

UAE Central Bank issues new anti-money laundering guidelines

The new guidelines involve the use of digital ID systems by LFIs to address their customer due diligence obligations

UAE israel hold financial dialogue

UAE holds first ‘Financial Dialogue’ with Israel

The virtual session covered issues related to macroeconomic trends and policies, cyber-financial cooperation, and opportunities for bilateral cooperation

Emirates NBD issues Dhs 1 billion bond

Dubai’s Emirates NBD successfully issues three-year Dhs1bn bond

The issuance is the first dirham-denominated bond by a bank since the creation of a medium-term yield curve by the Ministry of Finance

cryptocurrency shows rise in Jan _ istoc-phto

Crypto tops stocks, gold in new year gain shadowed by skepticism

Some of the sharpest crypto gains lie outside of the largest token Bitcoin, with Ether and Solana showing a rise

CBUAE

Gross bank assets rose to Dhs3.58tn by end of Oct 2022, reveals Central Bank of UAE

The central bank attributed the increase in domestic credit to the increase in credit granted to the public and private sectors

DFM and DWTC to host IPO summit in Dubai

Dubai Financial Market, DWTC set to host first MENA IPO Summit – Dubai

The inaugural summit will take place from January 23-25 at The Museum of the Future

ADX - Unified GCC ESG Disclosure Metrics

Gulf exchanges announce unified ESG metrics for GCC listed companies

The metrics include 29 standards that are aligned with the World Federation of Exchanges and Sustainable Stock Exchanges Initiative

ADAA launches smart app_courtesy Abu Dhabi Media Office

Abu Dhabi Accountability Authority’s new app allows reporting of financial, administrative misconduct

The app maintains user confidentiality and privacy, while aiming to build and sustain trust in the emirate’s financial and economic systems

ADX

Arab bourses’ market cap crossed $4tn by end of 2022, says AMF

According to the Arab Monetary Fund, the market value of the Abu Dhabi Securities Exchange reached $714.6bn by the end of last year

Big tech targets bond market

Big tech targets bond market for cash to buy back sinking stocks

As an economic downturn looms, the average blue-chip company is expected to be in balance sheet repair mode

DUbao Parks and Tabby tie up

Dubai Parks and Resorts, Tabby launch new BNPL payment option using Tabby Card

Guests can now pay for their tickets to Motiongate Dubai, Bollywood Parks Dubai, Legoland Dubai Theme Park and the Legoland Water Park parks in multiple installments

Standard-Chartered

Standard Chartered faces fresh questions after report of First Abu Dhabi Bank takeover bid

While FAB said it’s no longer evaluating a possible offer, the news sent shares in the London-listed lender higher as investors weighed the prospects of any deal

Abdul Aziz Al Ghurair - UBF chairman

UAE’s Commercial Transactions Law will boost Islamic financial services: UBF

The law has 25 articles that define the concepts and financing formulas, deposits, investment accounts, Takaful insurance, investments and other transactions