Banking & Finance

Qatar Airways acquires 25 percent stake in Airlink, expanding African reach

Qatar Airways will expand its reach to 45 destinations across 15 African countries

UAE banks add 15 ATMs in Q1 2024, reaching 4,669

This growth is driven by technological advancements and changes in the financial sector, leading to greater security and efficiency

Saudi central bank reports strong growth in reserve assets, reaching $467.4 billion in Q2 2024

The quarter saw a 2.7 percent quarterly increase, adding around SAR46.724 billion to the reserve

Accelerating growth: ADGM strengthens position as global financial hub

The UAE capital’s international financial center saw its AUM grow by 226 percent in H1 2024

Behind the boom: Insights into the growth of the financial industry in MENA

The space is competitive and will breed significant innovation in the next few years

How the evolution of digital banking in the UAE is driving the sustainability agenda 

Country aims to mobilize over AED 1 trillion in sustainable financing by 2030 

DFM, SZSE partner to strengthen UAE-China capital market ties, enhance cross-border investment

This partnership will foster joint initiatives like roadshows, seminars, research collaborations, and training programs

UAE’s finance ministry handles over 35,000 requests in H1 2024, achieves 96 percent customer satisfaction

The team's high efficiency, continuous training, and access to advanced technology drive the success

Sukuk issuance: Cautiously optimistic for 2024, uncertain afterwards

Local currency-denominated sukuk issuance has dropped by 8.8 percent year-on-year, primarily due to lower issuances in Türkiye, Pakistan, UAE and Malaysia

Container volumes fuel $9.33 billion revenue for DP World in H1 2024

The port operator invested $994 million in capital expenditures during the period

Dubai Chambers, Bank of China partner to support investors, enhance bilateral trade

Agreement signing coincides with the 40th anniversary of the establishment of diplomatic relations between the UAE and China

UAE IPOs surge in Q2 2024, raising $890 million: Report

Sharia-compliant financial products are in high demand, with Sukuk issuances exceeding $10 billion in Q2

Abu Dhabi’s Etihad Cargo’s strategic expansion drives 17 percent tonnage growth in H1 2024

The company has experienced remarkable growth, especially in the East, with a 19 percent increase in tonnage

Abu Dhabi Bayanat’s smart solutions power strong H1 2024 with $74.32 million revenue

The company's gross profit for H1 2024 reached $22.86 million, translating to a gross margin of 31 percent

EFG Holding revenues surge 63 percent to $103 million in Q2 2024

The group’s net profit after tax and minority interest rose 95 percent annually to EGP791 million in Q2 of 2024

DP World Trade Finance, BBK integrate logistics and financial services to boost regional trade

Partnership seeks to drive growth, improve operational efficiency and provide comprehensive support to businesses in trade

Unlocking the true value of travel benefits: How banks can win customer loyalty

Keeping the customer at the heart of every decision and anticipating their needs will go a long way in building strong relationships with them

Favorable economic conditions to further support GCC Islamic insurers’ growth: S&P

S&P expects 2024 to be another profitable year for the GCC region's Islamic and Takaful insurers sector

DMCC, Bybit extend partnership to boost Dubai’s position as global crypto hub

Bybit supported and advised over 20 startups, helping them establish a foothold in Dubai's dynamic crypto landscape in 2023

UAE nationals receive $691.53 million in home construction tax refunds from FTA

This covers the period since the service was launched and until the end of the first half of 2024

Air Arabia reports $188.67 million net profit in H1 2024, continues network expansion and sustainability efforts

The airline achieved a turnover of $449.22 million, a 19 percent increase year-over-year

Kuwait Warba Bank’s $500 million sukuk listing on Nasdaq Dubai attracts $1.8 billion in orders

This is the fourth listing under their $2 billion trust certificate program