Banking & Finance
To grow its utilities portfolio
Exclusives
To grow its utilities portfolio
Sale expected to close in Q4 '22
Credit Suisse tries reassuring investors as financial fears rise
Company aims to expand its digital portfolio
Exchange operations continued during closure
More start-ups, institutional investors choosing to reside in region
Turkish lira fell to a record low of 18.42 per dollar
Driven by high oil prices, high interest rates, and new projects
By another half a point
Abolition of minimum contribution of UAE, GCC nationals also passed
CBUAE also looking at improving consumer protection framework in the country
Oman implemented VAT in April 2021
It’s world’s largest investment forum dedicated to frontier emerging markets
Al-Suhaimi held for 20 years senior leadership financial positions in Saudi
Distinct opportunities for GCC banks as they progress along the maturity curve
Two parties scheduled to square off in court on Oct. 17
Overall market softening heightened transactional volume of M&As
Bank said it would focus initially on SMEs
But half will not meet targeted revenue expectations
As part of the AED 9 bn T-Bonds issuance program for 2022
Cumulative credit balance amounted to AED 718.1 bn in June
Transaction attracted $1.9 bn in orders from regional, international investors
"We are committed to carry out vision programs, broaden economic base"
On interest income growth
Investments of banks in UAE rise by 4.3% on annual basis
Saudi leads the way with 70.4% growth
Through iPay mobile payment system
The service is the first of its kind in the UAE
Step to contribute to the development of the fintech sector
“IMF approved 7th, 8th reviews of fund facility for Pakistan”
Amid continued economic recovery
They are at risk of losing the confidence they built over decades
Saudi is one of Pakistan's largest donors
Profits slightly increased by 3.6% in Q2 2022
Qatar is evaluating investments in Pakistan’s main airports
The deal is expected to close in the next 6 months
Company to provide 350 world-class Jiu-Jitsu coaches across UAE
Investment banking fees in MENA amounted to $806 mln in H1
Total interest income grew by 19.5% QoQ in Q2
Driven by a steady economic recovery in retail, leisure sectors
Online payments surged 85%
Exceeding the 127 million dirhams invested
Funding will be used to support innovation in payment and shopping
Trade exchange between two countries surged by $1.2 bn in Q1
Emaar will receive the total value of the selling price in cash
The borrower may face a travel ban in the execution case
It surpassed the pandemic with no adverse effects on its financial balance sheets
10 bidders have been qualified to proceed to the next stage
The beneficiaries should be members of accredited SME funds or programmes
IMF scheduled an Aug. 29 meeting to discuss country's loan
The move comes in response to customers’ suggestions and requirements
Group operating revenues grew by 28% Y-o-Y to EGP2.1 billion
Supported by strong product demand
Reflecting strength of financial solvency, high liquidity
Busines addressing non-cash expenses, optimisation measures
Fund to be used to strengthen Bayzat's technical development team
"Deal in line with Egypt's plan to encourage FDI"
This is the second increase in discount rates in several weeks
H1 total revenue increased 121% to AED 21.93 bn
Focusing on investing in several key sectors
Driven by an increase in total operating income
As of end-June, sector loans totaled 6.3 trillion lira
The firm's total capital raised to date amounts to $275 mn
Regulations to manage risks related to money laundering
Revenue for Q2 at a record peak of AED 576 mn
It increased by 3% to 1.683 trillion riyals
Assets rose 2.9% to 3.442 trillion dirhams
AUB delivered outstanding performance and strong financial results
The Boston Group: The UAE is in a very good position
Offering reassurance to an earnings period weighed down by inflation
Profits amounted to AED 7.9 bn
Within the strategy of investing in leading firms
Company registered revenue growth of 16.4%
For failing to comply with due diligence and reporting procedures
An increase of 31 percent
On higher operating income, lower expenses
Parliament amended the original formula... Will the IMF concur?
Investments amounted to 472.7 billion dirhams
Assets totaling $115 billion
The financing is expected to be completed within days
Agility, digitization, leadership, passion are driving forces behind exchange
The deal is worth 192 million riyals
Borrowings hit $498 billion by March end
Saudi, UAE banking sectors face contrasting liquidity dynamics
In May, Saudi's PIF purchased a 16.87% stake in KHC
Bank deposits increased by 0.9 percent to AED2.006 trillion
To a record-high of SAR 2.19 billion
The Public Investment Fund is betting on the future of the automotive and transportation
The bank announced preliminary unaudited financial results for H1 2022
The transaction follows successful advisory transactions in the GCC, Egypt
Deal aims to boost trade ties with promising global markets
Twitter hopes to start the case on September 19
Twitter said it was confident the company would win the case
The takeover deal is in "serious jeopardy"
A deal that ranks among the banking sector’s biggest this year
War and oil will be reflected in banks in both rich and poor countries
Agreement to increase international investor access to the UAE’s market
The Canal's revenues are expected to increase to $13.5 bn in 2023
Move marks first international acquisition realized by the Group
It Increased cash withdrawals from ATMs of other banks to 4,000 EGP
Funds will help strengthen Egypt’s resilience to food crises
It will aim to provide liquidity to financial institutions and credit markets
Alpha Dhabi is now Aldar's single largest shareholder
The banking industry showed a resurgence with an increase in profit of 40.15%
Grace period on $100 Interest payment has expired
Bonds five times oversubscribed
GCC banks have remained stable and safe over the past 30 years
Project expected to generate more than 120,000 job opportunities
Bonds comprises a 10-year tranche and 30-year Formosa portion
Banks 300 times more likely than any other industry to be cyber targeted
Musk appeared virtually yesterday at Qatar Economic Forum
Meeting approved start of due diligence work on JV deal
Nook's assets are valued at 245 trillion pounds
Revenue from expatriate fees amounted to 6.86 billion riyals
The auction is part of the AED 9 billion T-Bonds issuance program for 2022
SAOG to offer HBMO shareholders cash and shares
Money transfers amounted to about $605 billion in 2021
Net profit reported is valued at $1.54 billion
"The Kingdom's leadership has promoted Saudi women to many positions"
El-Hilaly to Economy Middle Al Raha: “Simple and Versatile Platform”
Inflation, geopolitical tensions impacted HNWI's spending patterns
The two banks' shares rose following 1-hr trade suspension
No excuses: Only real-time savings in the millions
Potential to convert into one Sharia-compliant financial institution
S&P does not expect any liquidity issues with Turkish banks
Full integration of the bank's operations and systems in Q4 2022
Chimera's offer is about 10% higher than its Egyptian competitor’s
Increasing share of women in work in MENA could increase the GDP to $2 tn
Lagarde: Inflation risks high
The games and esports company will hold 8% of the shares
This is the lowest amount so far in 2022
As part of a cooperation agreement between the three nations' central banks
Growth attributed to several factors, including a buoyant energy market
Foreign investors rose to historical levels in Q1, with 9,383 new licenses
Total shareholders’ equity raises to SAR 3.2 billion
Continued mortgage demand in Saudi supports the industry
The deal is expected to close in Q3 2022
In an attempt to mitigate the effects of the Covid-19 pandemic
The maturity period will be 6 months, with a rate of return standing at 2%
82% of bank customers don’t favor having to physically hand over documents
106 deals worth in excess of $558 million, highest in the region
The bank said it expects disinflation to start
He adds $6.25 billion to Twitter bid
Blockchain startups raise record venture capital
MENA startups generated $297 million in investments in April 2022
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
To grow its utilities portfolio