UAE banks set for another year of record growth

UAE banking sector assets hit record Dhs4.1tn in 2023

Total deposits of resident and non-resident customers with UAE banks rose by 13.5 per cent YoY to reach Dhs2.5tn

How banks are leveraging the power of GenAI

GenAI is an excellent tool to improve research for faster processing of more data from a wider range of sources to support decision-making

Saudi Arabia: Image: Getty Images - ipo

Saudi among world’s fastest growing economies in 2024: Moody’s

The Gulf’s biggest economy will be among the three top fastest growing countries in the world next year, with only India and Indonesia set to expand faster

Fitch Ratings cuts Egypt’s credit score one step to B-

Fitch downgrades Egypt one notch deeper into junk territory

The country’s debt problems have come amid a bruising economic crisis that has triggered a string of currency devaluations and record inflation

israel gaza crisis global financial markets

Global market reaction to a week of the Israel-Gaza crisis

Oil and gas markets have been where the nervousness has been most evident due to fears that Israel could become bigger

UAE to offer corporate tax relief to ‘public benefit’ entities

Organisations that qualify for the exemption include entities that focus on activities such as philanthropy, community services and corporate social responsibility

S&P Global, Moody’s raise Saudi Arabia rating on reform agenda

Fitch Ratings, one of the big three rating agencies, assigns Saudi Arabia the same score as S&P Global while Moody’s has it one level higher

Emirates NBD’s H1 2022 profit rises 11% to AED 5.3 billion

Emirates NBD reports profit of Dhs5.3bn, its highest since 2019

Emirates NBD played a leading role in both the DEWA and TECOM IPOs, delivering customers a fully digital platform

Kuwait gets first Moody’s downgrade over ‘liquidity risks’

Moody’s now ranks Kuwait two steps lower than Fitch Ratings and one below S&P Global Ratings

Oman Muscat

Moody’s downgrades Oman for a second time in 2020 as oil dips

This year, Oman trimmed its budget expenditure and announced liquidity support in an effort to provide some relief from the Covid-19 shock