Gold holds biggest gain since October as investors seek haven

Bullion’s appeal as a store of value is being burnished by risk aversion in markets and a surge in inflation worldwide

Air pollution costs wider Mideast $141bn, World Bank says

The findings will likely add to growing interest in green and sustainability-linked bonds and loans in the region

UAE’s ADQ, Alpha Dhabi, Etisalat and FAB to launch next-gen banking platform

Wio will offer customers in the UAE a fully digital banking choice with tailored products and services to meet their lifestyles and needs

UAE’s Alpha Dhabi Holding posts Dhs5.1bn in net profit for 2021

The company reported revenues of Dhs18.8bn

EFG Hermes completes advisory on Macro Group’s $83m IPO

The IPO is the first listing of a cosmeceutical company on the Egyptian Exchange

Investors are waiting for the right opportunity: UBS

UBS’ Investor Sentiment Survey found that UAE investors were concerned about the pandemic, rising healthcare costs and the global trade conflict

Bahrain’s GFH Financial Group reports net profit of $84.22m in 2021

The group’s net profit increased by 86.77 per cent over 2020, supported by diversification and an international investment portfolio

First Abu Dhabi Bank makes offer to acquire majority stake in EFG Hermes Holding

The potential acquisition would be paid for in cash

Dubai Islamic Bank prices $750m senior sukuk

The sukuk will be listed on Euronext Dublin and Nasdaq Dubai

Cover story: Investment is a level playing field, says Dubai’s AIX

The Covid-19 pandemic has effectively broadened the investment landscape, explains AIX Investment Group’s board advisor Fadi Dabbagh

Bitcoin’s recovery rally stalls as traders turn focus to $45,000

Analysts have noted that cryptocurrencies have lately been moving in tandem with other riskier assets

Dubai Financial Services Authority signs MoU with India’s IFSCA

The agreement sets a framework for mutual assistance and exchange of information in areas, including money laundering and terrorism financing

Abu Dhabi Ports surges on debut after $1.1bn share sale

In 2021, Abu Dhabi Ports handled 45 million tons of general cargo volumes

Saudi Arabia

Saudi wealth fund edges closer to green bond with Moody’s rating

Last week, Fitch Ratings gave the fund a rating of A

Abu Dhabi Islamic Bank posts 45% rise in net profit for 2021

The bank’s revenue increased 4 per cent to Dhs5.56bn

Abu Dhabi

AD Ports Group lists shares on Abu Dhabi Securities Exchange

The company will commence trading on the main exchange from February 8

CBUAE selects Accenture to develop UAE’s National Instant Payment Platform

The platform, which allows real-time payments and fund transfers round the clock, will support SMEs, larger companies and financial institutions

Green bonds still have a long way to go to dent climate crisis

Global sales of green bonds hit a record $513bn last year

Anghami Nasdaq

UAE’s Anghami, first Arab tech company to list on Nasdaq, begins trading

Anghami, with 75 million registered users, has completed its merger with Vistas Media Acquisition Company

Dubai Islamic Bank targets growth, scouts out deals

The lender reported its profit jumped 33 per cent in 2021 to Dhs4.4bn

Gold heads for weekly gain as stocks drop before US jobs data

January’s employment report due Friday is expected to be weak

The UAE is set to levy corporate tax: Here’s what analysts say

The country plans to introduce a 9 per cent federal tax on corporate earnings for the first time next year

Dubai Financial Market

Dubai Financial Market Company posts Dhs103.8m net profit for 2021, dipping 24.7% y-o-y

Total revenues in 2021 reached Dhs294.6m

Bitcoin’s January loss puts it on pace for worst month since May

Bitcoin dipped as low as $33,000 in January from a record of almost $69,000 less than three months ago

Dubai’s Emirates NBD’s net profit rises by 34 per cent to Dhs9.3bn in 2021

The bank’s total income was Dhs23.8bn, a 3 per cent rise over the previous year

National Bank of Fujairah launches new account for SMEs, startups

The solution aims to extend the benefits of digital banking solutions to entrepreneurs

Saudi Investment

Saudi wealth fund rakes in $5bn as demand for stocks booms

The Saudi benchmark index has jumped about 9 per cent this year

First Abu Dhabi Bank reports 19% rise in group net profit for 2021

Its total assets exceeded Dhs 1 trillion, marking a 9 per cent year-on-year increase

Dubai’s Emirates Islamic’s net profit grows to Dhs823m in 2021

The bank’s profits were up 271 per cent over 2020

Arif Naqvi, founder of Abraaj Capital

Dubai regulator issues Dhs497m fine on Abraaj Group founder Arif Naqvi

The DFSA alleged that Naqvi instructed and encouraged other members of Abraaj’s senior management to mislead and deceive investors and stakeholders