Egyptian fintech Sahl successfully raises $6m in Series A round

Egyptian fintech Sahl successfully raises $6m in Series A round

Sahl’s strategic vision is to dominate Egypt’s EGP2.5tn digital payments sector by capturing a significant portion of collections for utility companies, a segment worth EGP250bn annually

ACI Worldwide's Santhosh Rao showcases trends in real-time payments

ACI Worldwide’s Santhosh Rao showcases trends in real-time payments

For businesses, it’s time to rethink where real-time payments sit in the customer journey and the end-to-end payments landscape, says Santhosh Rao, SVP MEASA, ACI Worldwide

UAE banks liquid assets rise in Q1 2024_CBUAE GettyImages-927096466

UAE banking sector’s liquid assets rise to Dhs786.6bn in Q1 2024

CBUAE highlighted a quarter over quarter rise of 5.7 per cent, equivalent to Dhs42.7bn, compared to about Dhs743.95bn at the end of Q4 2023

Edmond de Rothschild

Edmond de Rothschild to open Saudi office and launch debt platform

The platform could help Saudi Arabia with its vast Vision 2030 plan

Brookfield Place is Dubai’s newest placemaking destination

Brookfield eyes $5bn for UAE-backed climate fund

The asset management firm said at least 10 per cent of the fund’s capital will be provided by Brookfield, which manages a portfolio of $925bn

Emirates NBD and Citi partner to offer 24 7 USD cross broder payments _GettyImages-910730068-1-e1690091225134

Citi, Emirates NBD to launch round-the-clock USD cross-border payments

The service, initially available in Emirates NBD’s branches in the UAE and Saudi Arabia, aims to eliminate payment flow barriers caused by different weekend schedules

UAE cabinet approves housing aid valued at Dhs1.86bn ahead of Eid-Al-Adha

UAE Cabinet approves housing aid valued at Dhs1.86bn ahead of Eid-Al-Adha

In addition to approving the housing aid, the cabinet launched the Manzili initiative, a streamlined service bundle designed to simplify the housing loan application process for programme beneficiaries

Insights: How IT solutions are enhancing factoring and supply chain finance

Insights: How IT solutions are enhancing factoring and supply chain finance

Banks should invest in robust SCF solutions that offer comprehensive features for automating end-to-end factoring processes from uploading of invoices to settlement

BlackRock acquires GIP (Photo by Andrew Burton/Getty Images)

BlackRock appoints MD for UAE, Oman and Bahrain

The global financial giant has tapped former Mubadala and Goldman Sachs executive to lead its operations in the three GCC countries

Saudi Arabia plans Aramco share sale as soon as June

Saudi Aramco shares trade higher after share offering

The world’s top oil exporter has been seeking to bring in international investment as it launches a range of projects as the Saudi government seeks to diversify its oil-based economy

QATAR VC firm Rasmal ventures launches debut fund GettyImages-520283407-e1714712344221

Qatar’s Rasmal Ventures launches $100m debut VC fund

While sector-agnostic, the fund will have a strategic focus on climate and energy tech, fintech, supply chain logistics, B2B SaaS and AI

Zand Bank, MANTRA partner to streamline real-world asset tokenisation

The digital bank and MANTRA will develop frameworks for RWA tokenisation that comply with regulations set by the Dubai’s VARA

Egypt sees progress on loan program

Egypt will have access to about $820m subject to IMF Board approval, fund says

The IMF said its Executive Board would consider the staff agreement and disbursement in the coming weeks

Mubadala increase investments

Mubadala-backed Zamp to buy Starbucks brand rights, stores in Brazil

Zamp said the deal requires approval from Brazil’s antitrust watchdog CADE and the court overseeing SouthRock’s bankruptcy

XPANSE

A sneak peek into Xpanse: World’s first forum for exponential technologies

Dr Zina Jarrahi Cinker, director general of MATTER, reveals key details about one of the biggest events of the year set to come to Abu Dhabi in November

Saudi Arabia joins China and UAE in mBridge project

Saudi Arabia joins central bank digital currency project mBridge

The initiative was unveiled in 2021 to pilot cross-border payments in digital currencies issued by central banks

Alef’s $515m IPO oversubscribed 39 times

Abu Dhabi edtech firm Alef’s IPO draws $20bn in orders

The shareholders are offering 1.4 billion shares, equivalent to 20 per cent of the company’s total issued share capital

Middle East: Assets under management surge 13%, rising to $2.3tn, according to A BCG study

Middle East: Assets under management surge 13%, rising to $2.3tn in 2023

According to the Boston Consulting Group report, globally in 2023, assets under management rose by 12 pr cent to nearly $120tn

Central Bank of UAE launches multi-CBDC platform for cross-border payments

Central Bank of UAE launches multi-CBDC platform for cross-border payments

The mBridge platform is an initiative under the CBUAE’s Financial Infrastructure Transformation programme that seeks to accelerate the digital transformation of the UAE’s financial services sector

Mashreq shores up capital with tightly priced $500m bond deal Mashreq -Image-WAM

Mashreq shores up capital with tightly priced $500m bond deal

The transaction achieved the largest price tightening by any UAE bank in the last five years for an additional tier 1 transaction

narendra modi

FII’s sell record $1.5bn in Indian equities after mixed results for Narendra modi-led BJP in 2024 elections

The Bombay Stock Exchange, which crashed 3,000 points on June 4, erased its entire 2024 gains in a single day on the back of poll results

Qatar’s QIA to buy 10% stake in China asset manager

Qatar sovereign fund agrees to buy 10% stake in China asset manager

The potential deal would make the fund the third-biggest shareholder in ChinaAMC, which manages more than $248m (RMB1.8tn) in assets

Anand Prabhudesai

How embedded solutions are transforming the insurance sector

The MENA region, especially the Middle East, is making significant strides in financial technology, with embedded finance emerging as a game-changer

Meet women in MENA financial services sector

How MENA’s financial services sector is empowering women

MENA countries have made significant progress in empowering women economically, politically, and socially, and considers women to be key partners in sustainable growth

TAX

UAE Corporate Tax deadline ends today: How to register and file

The FTA said fines would begin to apply to those who do not comply with the requirements to submit Corporate Tax registration applications before the specified deadlines

Dubai wealth fund ICD’s 2023 profit jumps 68%

Dubai wealth fund ICD posts Dhs60.8bn in full-year profit

The state investor posted a record-high net profit of Dhs60.8bn, buoyed by an increase of Dhs24.6bn from its transportation and banking businesses

Saudi Arabia reportedly sells $5bn sukuk to plug deficit

Saudi Arabia issues $5bn in dollar-denominated sukuk, says report

The kingdom is turning to the debt market to find alternative funding sources to cover an anticipated fiscal shortfall of about $21bn this year

Kuwait

Kuwait’s NBK plans to issue its debut green bonds: Report

The investor meetings for the debt sale will take place beginning from May 28 and will be followed by a US dollar denominated senior unsecured Green Notes

BIG Holding’s $146.5m IPO draws orders worth $2.5bn

BIG Holding’s $146.5m IPO draws orders worth $2.5bn

The company priced its IPO at the top of the range, selling its shares at 500 fils apiece to raise KWD45m

UAE off FATF grey list what it means for trade and investment-GettyImages-927096466

UAE is off FATF’s grey list: What that means for trade, investment

The UAE’s exit from the FATF’s grey list can be seen as a crucial step, albeit not the sole factor, for fostering robust growth in trade and investment