Banking & Finance

Qatar 2025 budget revenues to reach $53.84 billion amid lower oil prices

The expected budget deficit of QAR13.2 billion will be financed through local and external debt instruments

ADGM announces plans to establish insurance association to promote industry growth

The association will enhance collaboration, standards, and practices in the insurance industry

Visa, ADGM Academy to boost UAE financial sector innovation, talent development

Partnership to focus on innovation in cybersecurity, AI and fintech through joint research, specialized training

ADFW 2024: ADGM FSRA spotlights key regulatory enhancements at Fintech Abu Dhabi

Developments include a comprehensive framework for the issuance of FRTs within ADGM

Abu Dhabi Finance Week (ADFW) 2024: ADIO, Mastercard to establish Digital Partnership Program

Mastercard to create tailored digital financial solutions for Abu Dhabi stakeholders

ADFW 2024: Emirates NBD welcomes Chainlink to Digital Asset Lab

Chainlink’s membership will play a key role in advancing the lab’s mission to create innovative solutions in digital finance

UAE named region’s best-funded startup ecosystem with $146 million raised in November

Tech startups in the MENA region secured $258 million through 46 deals last month

Central Bank of Kuwait allocates $792 million bonds, securitization

The bank specified that this issuance has a maturity period of three months and an interest rate of 4.125 percent

iPhone ‘Tap to Pay’ service launched for UAE merchants

Merchants can simply prompt customers to hold their contactless payment method near the iPhone

Samsung Pay service launched in Saudi Arabia, says SAMA

The agreement was signed at the inaugural 24 Fintech conference in Riyadh

ADFW through the years: A journey of growth and global influence

ADFW serves to reaffirm Abu Dhabi’s position as one of the Gulf Cooperation Council’s leading financial hubs

Abu Dhabi’s Hub71 secures $1.9 billion in funding for startups

The global tech hub generated revenues surpassing $1.08 billion

Abu Dhabi’s NMDC LTS signs definitive agreement to acquire 70 percent equity stake in Emdad

The acquisition, pending regulatory approvals, will allow NMDC to expand into oilfield services

Salik assigned strong investment grade credit ratings by Moody’s, Fitch

Fitch has assigned Salik an investment grade A- issuer default credit rating with a stable outlook

EDB provides $305 million in financing to UAE’s food security sector

EDB seeks to support the growth of a robust and resilient ecosystem that drives sustainable development

Saudi Arabia’s bank credit surges to record high $766.6 billion in October

Since the beginning of the year, bank credit has seen a 10 percent growth from SAR2.6 trillion at the end of January

Dubai Duty Free reports $1.94 billion in sales by end of November 2024

November 30 set a new daily sales record for the year at $8.46 million

Bitcoin price crosses $100,000 for the first time

The milestone signifies Bitcoin's growing acceptance in the financial mainstream

Gross assets of UAE banks rise to $1.19 trillion by August 2024

Gross credit at UAE banks increased by 0.5 percent to AED2.112 trillion at the end of August 2024

The economic impact of land degradation: Why $1 billion daily investments are crucial

$2.6 trillion is needed by 2030 to restore over one billion hectares of degraded land and improve drought resilience

UAE’s Federal Tax Authority urges businesses to file corporate tax returns by December 31, 2024

This will help them avoid administrative penalties for failing to comply with the legally mandated deadlines

AI infrastructure firm Nebius secures $700 million funding from Nvidia and Accel

The financing will help Nebius accelerate GPU clusters, cloud platforms, and other essential AI tools

UAE National Day: Celebrating 53 years of unity and progress through visionary leadership, groundbreaking initiatives

A comprehensive reflection on 2024’s milestones in governance, infrastructure, and global positioning

UAE National Day: Bahraini landmarks celebrate 53rd Eid Al Etihad with UAE flag colors

Bahrain’s Prince Salman congratulated UAE President on 53rd National Day