Banking & Finance

Arcapita and Dgpays consortium acquires majority stake in NEOPAY from Dubai’s Mashreq

The transaction values NEOPAY at approximately $385 million, pending regulatory approvals

UAE issues treasury bonds, Islamic sukuk worth $6.81 billion since 2022

The programs saw the issuance of treasury bonds worth $3.05 billion and Islamic sukuk worth $3.76 billion

AD Ports Group signs agreements with two UAE banks to refinance $2.25 billion debt

The two new lending facilities also extend debt maturity to 2026 and beyond

Safaricom, Mastercard to expand remittances, payment acceptance to over 636,000 merchants in Kenya

Safaricom and Mastercard are working together to foster innovation and financial inclusion within Kenya’s evolving digital landscape

US Federal Reserve, UAE Central Bank cut interest rates by 50 basis points

The Fed attributed this move to recent indicators that suggested that economic activity continued to expand at a solid pace

DP World Trade Finance, Nedbank partner to deliver working capital solutions in Africa

DP World Trade Finance implemented a supply chain finance program on its platform, with Nedbank CIB as the financer

ADGM, DMT sign MoU to transfer real estate services on Al Reem Island

The agreement clarifies roles for smooth transition of Al Reem Island Real Estate from DMT to ADGM

UAE’s National Bank of Fujairah issues Additional Tier 1 capital securities at $275 million

This initiative aims to enhance capital structure and refinance $350 million in existing AT1 securities

Kuwait Central Bank issues bonds, tawarruq worth $792 million

These issuances have a maturity period of three months, with a yield of 4.375 percent 

Saudi Maaden, Bahrain’s Alba ink non-binding deal to explore potential business merger

This collaboration aims to generate synergies that boost production, ESG performance, energy security, and shareholder value

Saudi-Egyptian investment protection deal to launch in two months, says PM Madbouly

The trade between Saudi Arabia and Egypt surpassed $33 billion during 2022 and 2023

Etihad Credit Insurance sees $381.2 million in credit coverage in Abu Dhabi in first eight months of 2024

ECI achieves 8 per cent increase in credit coverage and 24 per cent growth in insurance document issuance

World Bank, Qatar in global education partnership

The World Bank will work with Qatar and Education Above All in the development of new, innovative financial tools for education

Invest in UAE stock markets with zero transaction fees as Emirates NBD launches new initiative

Platform includes more than 11,000 global equities and 150 regional equities to trade

Qatar’s private sector credit to grow on large-scale project momentum, says Moody’s

Qatari banks will likely shift toward a longer-term funding structure in a lower interest rate environment

MENA private equity investments hit $5.9 billion in H1 2024: Report

Since 2020, private equity deal value has remained above $10 billion, supported by mega deals

Dubai to host ‘The Africa Debate’ on October 31 to boost trade, investment

The event reflects the UAE's commitment to strengthening its economic and trade relationships with African nations

Visa responds to challenges and opportunities in Saudi Arabia’s growing tourism sector

Innovating payment and tourism ecosystems key to leveraging consumers’ increasingly digital lifestyle

EFG Hermes KSA: Banking on opportunities in Saudi Vision 2030 and beyond

Since 2019, firm has successfully completed more than 14 IPOs in the Kingdom

UAE banks’ capital, reserves reach $134.8 billion by June 2024, says Central Bank

National banks comprised 86.3 percent of the total capital and reserves, amounting to $116.4 billion

OPEC fund approves $1.2 billion development funding for over 17 countries

Fund approved $392 million for Oman, which will support the Dibba-Lima-Khasab road project