#finance

UAE green bonds, sukuk issuance hit Dhs15bn

Insights: Why bonds are becoming investors’ favourite words

Bond investors are presented with the opportunity to lock in one of the highest yields in more than ten years

Emirates NBD posts Dhs21.5bn in full-year profit

Dubai’s Emirates NBD posts 65% rise in 2023 earnings

The Dubai-based lender proposed a dividend of 120 fils per share for last year, doubling the amount paid to shareholders in 2022

Dubai Financial Services Authority registers 117 firms in 2023, reflects 25% YoY growth Image WAM

Dubai Financial Services Authority registered 117 firms in 2023, reflecting 25% growth

The regulator licenced and registered a record-breaking 117 firms during the 12 months. This reflected an increase of 25 per cent from the previous year.

Nasser Al Awadhi - group CEO adib

Power Letters 2024: Nasser Al Awadhi, group CEO of ADIB

Abu Dhabi Islamic Bank is actively working on prioritising substantial investments in renewable energy, clean technology, and eco-friendly projects

Oman

Oman sets up OMR2bn fund to oversee government investments

The fund offers funding and investment solutions to various investor categories including private sector organisations, SMEs, foreign investors, and startups

Brand Finance reveals list of most valuable and strong Middle East brands GettyImages-1704332489-e1700216889673

Revealed: Here are the Middle East’s most valuable brands

The ranking revealed that Saudi’s Aramco retained its status as the most ‘valuable’ Middle Eastern brand in global ranking, followed by ADNOC and stc

Moustafa Gad headof investment Banking at EFG Hermes

Power Letters 2024: Moustafa Gad, head of Investment Banking of EFG Hermes, an EFG Holding Company

Looking at the landscape, 2024 promises to sustain the momentum in the GCC region, with Saudi Arabia taking centre stage, says Gad

Saudi Arabia: Middle East Healthcare to issue SAR-denominated sukuk Image: Getty Images

Saudi Arabia: Middle East Healthcare to issue SAR-denominated sukuk

The company, which is listed on Riyadh’s Tadawul exchange and manages Saudi German Hospitals, will use the proceeds for general corporate purposes

Saudi inflation eases further in December to 1.5%

Saudi inflation continues to ease in December to 1.5%

The statistics authority said rental prices increased by 9 per cent in December 2023

Bal Krishen of Century Financial - Power Letters 2-24

Power Letters 2024: Bal Krishen, chairman and CEO, Century Financial

The year ahead brings with it opportunities but uncertainties, highlighting the significance of investors staying vigilant to these evolving market trends

Ahmed Abdelaal, group CEO, Mashreq

Power Letters 2024: Ahmed Abdelaal, group CEO, Mashreq

Mashreq is more committed than ever to lead the way in digital innovation, client experience, sustainability, and inclusive growth

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

BlackRock to buy infrastructure firm Global Infrastructure Partners for $3bn

GIP is the world’s largest independent infrastructure manager with more than $100bn in AUM and a strong reputation for driving operational improvements in its portfolio companies

QNB Group’s full-year net profit jumps 8%

QNB Group posts QAR15.5bn in full-year profit

The banking group had QAR1.23tn in total assets at the end of December, a 4 per cent increase, driven by growth in loans and advances

FAB issues $800m sukuk, marks first for the year globally

UAE: FAB issues 5-year $800m sukuk, marks first for the year globally

The order book for First Abu Dhabi Bank’s sukuk, which was 1.9 times oversubscribed, represented leading investors, including international fund managers, banks and supranationals

e& enterprise signs partnership with fils image e&

Dubai: e& enterprise partners with Fils to introduce carbon offsets

This initiative aligns with e& enterprise’s commitment to promoting green business models

Saudi Exchange Tadawul launches new index to track top 50 listed companies Image tadawul

Saudi Exchange launches TASI50 Index to track top listed firms

The launch of the real-time index advances the Saudi Exchange’s goal to provide investors with enhanced benchmark opportunities to help support Saudi Vision 2030’s Financial Sector Development Program

ADX gets new chairman

Abu Dhabi: ADQ appoints new chairman of ADX, two board directors

Al Mazrouei also serves on the boards of Abu Dhabi Retirement Pensions & Benefit Fund and AafaQ Islamic Finance

Abu Dhabi’s non-oil growth surges 7.7% in Q3 2023

Abu Dhabi’s non-oil growth surges 7.7% in Q3 2023

The financial and insurance sector grew by 14.4 per cent YoY and the value-added by the industry surged to Dhs18.7bn

Dubai sets up fund to oversee government investments

Dubai sets up fund to oversee government investments

The newly established fund will hold stakes in entities including utility giant Dubai Electricity and Water Authority, toll operator Salik and Dubai Taxi Company

Archit Gupta, CEO of Cleartax with insights on tools to aid tax compliance KSA and GCC

Getting tax-ready: Navigating compliance in Saudi Arabia, GCC

Embracing tools such as VAT Filing Reconciliation and Assistance and Accounts Payable Automation becomes crucial to ensure efficient, accurate tax operations and compliance

Mashreq commits to facilitate Dhs110bn in sustainable finance by 2030

Mashreq to facilitate Dhs110bn in sustainable finance by 2030

The bank’s commitment to sustainable finance is part of its Climb2Change global initiative

DFM to launch carbon credits pilot programme at COP28 Image Dubai Media Office X

Dubai Financial Market to launch pilot carbon credits programme at COP28

DFM will commence the pilot programme for institutional investors starting from December 4-8, with the offsetting period ending on January 10, 2024

PIF-owned SRC successfully wraps up SAR3.5bn sukuk GettyImages

Saudi Real Estate Refinance Company wraps up SAR3.5bn sukuk issuance

The issuance was offered in five and seven-year dual tenors, marking the final two tranches under its SAR20bn government-guaranteed sukuk programme

UAE payments revenue to hit $19.8bn by 2027

UAE payments revenue to hit $19.8bn by 2027, says BCG

Growth in the country’s payments space is being fueled by a surge in digital transactions and technological advancements such as GenAI

UAE: Abu Dhabi Islamic Bank successfully issues $500m green senior sukuk Image Getty Images

UAE: Abu Dhabi Islamic Bank successfully issues $500m green senior sukuk

The issuance attracted interest from more than 100 global and regional investors with the final order book closing at $2.6bn

New end-of-service benefits scheme now in force

UAE: New end-of-service gratuity scheme now in force; here’s what it offers

Employees who sign up can either receive financial benefits after the end of their employment contract or continue investing in the end-of-service scheme

MENA IPOs market to gain momentum in 2024

Positive outlook for MENA IPOs going into 2024, reveals EY report

The IPO pipeline will be driven by Saudi Arabia, where 27 companies have announced their intention to list on the Tadawul

APICORP relocates to new office in Riyadh

APICORP relocates HQ to Riyadh, move aligns with new 2023-28 business strategy

The move to the new headquarters follows the approval of APICORP’s 2023-2028 business strategy, which includes a new brand identity

COP 28 meet to discuss loss and damage fund concludes successfully GettyImages-1340683804-e1644584765829

COP28: Meet to discuss implementation of Loss and Damage Fund concludes successfully

The agreed recommendations will now be socialised with national governments ahead of COP28, so the fund can be activated and capitalised

New UAE corporate tax decisions issued by MoF for free zones - for illustrative-purposes-GettyImages-124638324

UAE corporate tax: MoF issues new decisions related to free zones

The new decisions reflect the significant role of free zones in the UAE’s economic diversification strategies