ADNOC, TAQA secure financing for $2.2bn water project

ADNOC, TAQA close $2.2bn financing for water project

The project is being financed by a group of nine local and international banks, through a combination of commercial and Islamic finance facilities

UAE national banks provide Dhs745.5bn in financing by May

UAE banks provide Dhs745.5bn credit to business, industrial sectors

The central bank said the business and industrial sectors received credit financing mostly from traditional banks

Emirates Development Bank Dr Sultan Al Jaber

Emirates Development Bank approves Dhs4.4bn in loans in first nine months of 2022

Emirates Development Bank approved Dhs1.3bn towards financing mSMEs and Dhs3.1bn to fund industrial development and infrastructure projects


UAE proptech startup Huspy acquires Just Mortgages, Finance Lab

The founders and employees of both businesses will join Huspy

Dubai Islamic Bank

Dubai Islamic Bank posts 58% rise in net profit for Q1 2022

The bank’s total income reached Dhs3.01bn, recording growth of 6 per cent year-on-year compared to Dhs2.84bn achieved in Q1 2021


UAE updates terror list to include one individual and five entities

They have been linked to supporting and financing Yemen’s Houthi militia

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

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

UAE’s Emirates Development Bank, NBQ partner to facilitate SME financing

The MoU will cover credit guarantee and co-lending programmes

Mubadala-backed Dubai fintech startup loads up on debt financing

Tabby has raised more than $30m in funding from local and global investors

UAE-based startup North Ladder secures $5m Series A funding

North Ladder is a trading platform for pre-owned luxury assets and electronics

Abu Dhabi Fund for Development

ADEX inks Dhs22m deal to finance UAE’s Jenaan sugar refinery project in Egypt

Jenaan to import raw materials from Borouge to manufacture and supply irrigation systems

The SME loan journey: How can it be made easier?

Banks and financial institutions must opt for online credit process with automated elements – offered by companies such as Comarch – to ensure they meet the current market needs

Starzplay secures $25m debt financing from Abu Dhabi-based Ruya Partners

Funds to be used to expand operations and produce original content

Prince Khaled’s KBW Ventures joins $60m financing round for cell-based seafood company

Financing deal for US-based BlueNalu is largest to date in the cell-based seafood industry

UAE’s Taqa confirms financial closing for Al Dhafra solar power plant

Upon full commercial operation, the plant is expected to reduce Abu Dhabi’s CO2 emissions by more than 2.4 million metric tons per year

Saudi Arabia won’t tap debt market again in 2020, minister says

The world’s largest crude exporter is relying on more borrowing as it grapples with the impact of the twin economic shocks caused by oil market turmoil and the coronavirus pandemic

Saudi banks sign supply chain financing deal with government

The Finance Ministry has partnered with Saudi British Bank, Samba Financial Group and National Commercial Bank

Rolls-Royce preparing announcement on equity issuance

The British maker of aircraft engines said last month it intends to raise as much as GBP2.5bn

Saudi’s Marafiq gets $280m to build Jeddah sewage treatment plant

Marafiq’s shareholders include the Public Investment Fund, Saudi Arabian Oil Co. and Saudi Basic Industries Corp