#finance

AD Ports Photo WAM

UAE’s AD Ports Group secures $2bn syndicated corporate facility

The multi-currency facility, equivalent to around $2bn, includes three tranches amounting to EUR600m, $620m, and Dhs2,863m with a tenure of up to 2.5 years

uae-FDI-ranking -adobe-stock

UAE ranks 18th globally in FDI confidence index

The GCC countries were high in the emerging markets ranking with Qatar ranking fourth and Saudi Arabia ranking sixth globally

IsDB - bank signs off on $403m

Islamic Development Bank approves three projects valued at $403m

The bank signed off on EUR318m ($344.5m) towards the financing of Phase I of the Electric Express Train Project in Egypt

Wio Bank new partnership

ADQ-backed Wio Bank, Paymentology partner to enhance SME banking

The digital bank offers SMEs seamless access to banking services while allowing them to move forward with innovative beyond-banking services

Central bank projection for GDP growth in 2024 GettyImages-1432592872-e1670484896463

UAE central bank projects GDP growth rising to 4.3% in 2024

In 2023, inflation is projected to decelerate to 3.2 per cent, on the back of softer price increases in all categories

Sheikh Zayed Housing Programme

Sheikh Zayed Housing Programme approves Dhs298.7m in aid

The MoEI issued the aid via 432 decisions on applications for house construction, completion, purchase, maintenance and upgrades

Arab Jordan Investment Bank & Standard Chartered agreement

Arab Jordan Investment Bank to acquire Standard Chartered’s business in Jordan

Standard Chartered’s corporate, commercial and institutional banking, and consumer, private and business banking businesses in Jordan will move to AJIB

interest rate - US Fed

Gulf central banks raise interest rate based on US Federal Reserve hike

The central banks announced interest rate hikes by 25 basis points

SRC Alrajhi Bank Signing ceremony

Saudi’s SRC, Alrajhi Bank sign landmark refinancing deal

The deal is the largest of its kind signed in the Saudi banking industry

Al Ansari Financial Services Group CEO, Deputy Group CEO and Group CFO

Al Ansari Financial Services IPO: subscription starts, share price announced

The IPO subscription period will run until March 23 for the UAE retail offering and March 24 for the qualified investor offering

central banks of UAE and India sign MoU

Central banks of UAE, India sign agreement to boost collaboration

The MoU will enable joint experimentation with regard to CBDCs and facilitate other digital innovation initiatives between the central banks

Mashreq’s group head of corporate & investment banking

UAE’s Mashreq finances sustainable investments worth $15.5bn

The bank is committed to developing financial solutions that help businesses scale up operations while achieving their ESG objectives

Nomo

Digital Islamic bank Nomo launches multi-currency accounts

First available in Kuwait, the multi-currency accounts will soon roll-out in phases to customers across the GCC

Presight AI _Cover Image_IPO

Presight AI announces start of subscription for IPO

The listing is the latest in a series of IPOs in the Gulf region as governments seek to bring more international investors into their markets

AZ valu Fund photo for illustrative purposes GettyImages-1080377280_Cairo1

Fintech platform valU, Azimut partner to launch AZ valU Fund

The fund aims to give clients access to daily redemptions without locking capital up in long-term, fixed instruments

Syed Basar Shueb, IHC CEO and Managing Director

Abu Dhabi-based IHC’s 2022 profit surges to a record $8.9bn

The conglomerate’s revenues surged by 78 per cent to Dhs50.9bn, driven by growth across all verticals and the company’s strategic acquisitions in 2022

Saudi Aramco’s record net income. Image by Aramco

Saudi Aramco profit surges to $161.1bn in 2022, raises dividend

The company’s declared a dividend of $19.5bn for the final quarter of 2022, a 4 per cent increase compared to the previous three-month period

Financial

Women can be a powerful force in the financial world and the time to get started is now

Here are a few tips on how to start building your financial future

Salik full-year revenue surged

Dubai’s Salik posts 11.8 per cent surge in full-year revenue

The road-toll operator said the number of revenue-generating trips jumped 13 per cent to 413 million trips compared to 367 million in 2021

EFG Hermes Holding group CEO Karim Awad gives keynote speech at One on One Conference in Dubai

GCC is key investment hub for regional, global investors: EFG Hermes

The 17th EFG Hermes One-on-One Conference is being held at Atlantis, The Palm in Dubai from March 6-9

FAB facilitated over $9bn in sustainable projects

UAE’s FAB facilitated over $9bn in sustainable projects in 2022

More than half of FAB’s bond issuances in 2022 were in a ‘green’ format, with the bank aiming to further grow its range of sustainable offerings

CBUAE_ UAE banks total investments in Dec 2022

UAE banks’ total investments hit Dhs528bn in 2022

The investments increased by 3.25 per cent or Dhs16.6bn on a monthly basis

emirates development bank 2022

Emirates Development Bank’s financing sees 673% YoY rise in 2022; here’s how much it gave as loans

Emirates Development Bank’s financing contributed Dhs3.5bn to the UAE’s non-oil GDP and helped create more than 12,000 industrial jobs

Edmond de Rothschild opens office in Dubai's DIFC

Edmond de Rothschild opens office in Dubai’s DIFC, aims to broaden regional presence

The UAE is already an important market for Edmond de Rothschild, and the new presence will enhance its ability to serve the clients in the region

ADNOC- Gas IPO

ADNOC Gas eyes $2bn from world’s biggest IPO this year

ADNOC is selling a 4 per cent stake in ADNOC Gas, with each of the 3.07 billion shares being offered at between Dhs2.25 and 2.43

Abu Dhabi Fund _photo courtesy WAM Wam

How Abu Dhabi Fund’s first development project in Nigeria will serve the community

The project is expected to stimulate commercial activities and improve transport links between the main cities in the country

DIFC aims to attract 50 hedge funds to Dubai photo courtesy Dubai Media Office twitter

Dubai’s DIFC in talks to attract 50 hedge funds

Dubai International Financial Centre is offering reduced licensing fees and capital requirements for hedge funds domiciling a domestic fund

ADGM signs MoU with Zand Bank

Abu Dhabi Global Market, Zand Bank join hands to support SMEs

The entities will jointly drive UAE national work placements and offer finance training, SME financing platforms, a fintech sandbox and corporate innovation programmes

Azerbaijan Banks Association - UBF sign MoU

UAE’s UBF, Azerbaijan Banks Association sign MoU to boost sectoral cooperation

The two parties will jointly organise workshops, training and awareness programmes to exchange knowledge and experience