Banking & Finance
It succeeded, in under 6 months, in completing merger procedures
Exclusives
It succeeded, in under 6 months, in completing merger procedures
Deposits to grow driven by projected interest rate increase
The Fund aims to bring the best technology to Abu Dhabi
New era of biometric payments enhance the check-out experience
CEO Parag Agrawal: "We aren't perfect at catching spam"
Preliminary Q1 2022 revenue amounted to $9.3 million
Jadwa sold its majority stake in Al Meswak to GII
IHC provided capital through preferential allotment route
Musk believes fake users make up 20% of total users
The bank calls on its clients to use the QR code scanning option
Gulf banks reported a small number of cyberattacks in last decade
This translates into 4.255 percent of valU’s issued capital
The company announced completion of $1 billion funding for 2022
$3.45 billion, the value of the financial technology sector in 2026
Region could reap huge dividends from real-time payments
Net income increased by 15.5 percent to 48.8 billion Saudi riyals
Digital banking market will reach $30.1 billion in 2026
Higher interest rates in 2022-2023 would further support it
MENA M&A deals reach $21 billion in Q1
The money supply increased in March by 4.22 percent
Musk secures over $7 billion
Alleged embezzlement of at least $330 million in public funds
Another ¾ of a percentage point increase expected at June meeting
The fund's total assets at end-2020 were 47.1% of national GDP
Upon completion of the transaction, Borealis will be 25% by ADNOC
Earnings were driven by demand for cloud-computing services.
The merger with "Awda Misr" scheduled in next few months
The $70.7 million company will be the largest provider by market share
Fintech, developers can drive market opportunities on FusionFabric.cloud
Saudi “Al-Rajhi” and “Al-Ahly” achieve net profits exceeding $1 billion
An expected upturn for the Gulf economies due to the rise in oil prices
These companies accounted for more than a quarter of all contracts by value
“The company will maintain flexibility and continue to generate strong profits”
Law ensures equal treatment for both Saudi, foreign investments
Saudi, UAE easing business conditions
Played a leading role in the IPO of Dubai Electricity and Water Authority
Bahrain confirms firm's talks to buy Italian football giant for $1.1 billion
The new program to support SMEs through providing trade finance facilities
Services are delivered promptly 24/7, replacing long waiting hours
“S&P”: Oil prices, interest rates, pave the way for banks’ recovery, lower NPLs
The Spring Meetings examine the global economic impact of war and food security concerns
This comes ahead of negotiations for an IMF bailout
"The offer is not close to the real price of Twitter"
The decision is due to the instability in global markets and economies
Consolidation of exchange rates is complex due to weak economic conditions
GAC approves 88 percent of applications in Q1
Stake acquisition of the Commercial International Bank for $911.4 million
Egypt, Saudi collaborate to invest in Saudi's fintech sector
eLydian Lion will be run from Investcorp's Abu Dhabi office
For every increase of 100 basis points, Banks' net income to increase by 13%
The monetary authority halted opening of online bank accounts
Binance will provide its services in the Middle East and North Africa region
Lebanon to implement 8 reforms as pre-conditions to IMF Board approval
Acquisition marks GMG’s first entry into food retailing
The digital economy has its appeal but there is more
Committee on Open Markets expected to agree to reduce balance sheet at May 3 meeting
The high demand underlines the strength of Dubai's economy
$40 million to invest in Saudi technology startups
Citi Continues to Invest in Bahrain and Support Institutional Clients
"The quality of Qatari banks' assets will remain flexible"
Scaleups raised $5.4 billion
The strategy supports UAE’s industrial development, economic diversification
AED 22.3 billion total expected
Egypt tops African countries in VC transactions
Finance Ministry to repay loans exceeding 2.85 bn riyals at end April
Agreements aim to promote entrepreneurship in various fields
Agreements reflect Dussur’s appetite to invest in Saudi industrial sector
$90 billion in revenues, the highest ever
SAMA reaffirmed commitment to support finance and payments sectors
Shareholders to receive 608 pence in cash per share
Egypt announced it had requested assistance from the IMF
Several programs were signed, initiatives launched and agreements
Al Gergawi: The summit seeks to highlight opportunities, reveal future challenges
The conference continued under the slogan "We Reinvent, We Renew"
Saudi Ministry of Investment grants 4 licenses to start-ups, one VC fund
SMEs represent 94% of the total number of companies
Final price of "DEWA" on April 6 and start of trade April 12
Price range between 2.25 and 2.48 dirhams per share
The IMF praised "authorities' recent actions to expand targeted social protection
Fund will invest in companies developing new tech or improving existing ones
Egypt’s Central Bank Governor: Maintain FX liquidity, investor confidence
Souq Al Mal to implement ambitious growth plan over 2 years
The Central Bank raises interest rates for the first time since 2017
The Central Bank of Egypt is expected to raise interest rates
It announced cash dividends of 70.3 billion riyals
The US Reserve rate increase among many expected this year and next
It signaled seven rate hikes for this year to bring inflation under control
The SPAC will be merging with tech-based financial services businesses
Global central banks unveil their monetary policies this week
ECB left the option of raising interest open before the end of the year
"Goldman" warns the US economy could be in a recession next year
JP Morgan: There is a likely need to depreciate the pound
$ 217.5 billion in sector assets at end 2021, or 6.5 times the GDP
The company still plans to list in April
Digital banks will be subject to all supervision and control requirements
Banks are likely to keep reserves much larger than risk portfolios require
Saudi Arabia expects the first surplus in 8 years
Economic activity to accelerate in 2022 prompted by high and rising oil prices
ًinning the award is an incentive to continue on the path of excellence
Production and oil and gas prices contributed to strengthening the budget figures
Non-oil sector constituted 88% of the total increase in actual revenues
Norway removes Russian assets from $1.3 trillion wealth fund
Moscow plans to borrow less and use national wealth funds
Russia 2nd to US in terms of Swift users
Dedicated office and expanded regional headcount to drive growth
Banks reduce operating costs following losses
The IMF welcomes financial sector’s resilience and ongoing reforms
The corporate tax on profits will replace several fees businesses currently pay
It’s the second such increase since 2019
The total amounted to $221.7 billion, with Saudi and Kuwait leading
Two Abu Dhabi state funds and 2 private sector investors in the running
BNPL is framed as an interest-free alternative to credit card payments
Next could be the fastest rate of price increases since the 1980s
76% of Arab central banks considering issuing digital currencies
S&P Global economists expect the Fed to raise rates six times this year
PIF’s ranking rose to sixth in the world, having compiled assets worth $580 billion
The IPO is the premiere listing of Egyptian cosmeceutical players
Transaction conditional upon the completion of a comprehensive due diligence
Fitch: Even without a debt law, the government meets its financing obligations
In 2015, 20 SPACs raised $3.9 billion in funds globally
Al Saidi to “Economy Middle East”: It will boost tax revenues, transparency
Total Sukuk issuances would range between $145-150 billion in 2022
Agency predicts rate hikes from central banks in union
Stabilizing inflation among institution's main goals
ECB still buying govt bonds, corporate securities
Bahrain grants Binance preliminary approval
Digital asset management, a key to future prosperity
Mubadala strengthens its partnership with Chimera Capital
GCC investors eye UK's real estate sector
Banking & Finance
It succeeded, in under 6 months, in completing merger procedures