Banking & Finance

FAB reports 13 percent rise in profit before tax to $5.42 billion, revenues hit $8.60 billion

Total assets increased 4 percent annually to AED1.21 trillion by the end of December 2024

Oman’s broad money supply grows 11 percent to $64.5 billion

Currency issued fell 5.2 percent to OMR1.5 billion by November 2024 from OMR1.58 billion

Nissan shares plummet over 4 percent as $60 billion merger talks with Honda might be called off

Honda shares closed 8.2 percent higher, reflecting investor relief over the potential deal cancellation

AAOIFI Sharia Standard 62 to shape the future of the sukuk market

In its public hearing, the AAOIFI mentioned that it is likely to approve Standard 62 in 2025

M&A market set for a comeback in 2025 as headwinds ease, says Bain & Company

Technology disruption is the long-term shift that will result in the most strategic transformation in the M&A market in the years ahead

Oman’s Central Bank issues treasury bills worth $59.7 million

The value of the allotted Treasury bills amounted to $1.55 million, for a maturity period of 28 days

Saudi Fund for Development, Pakistan finalize $1.2 billion financing agreement for oil derivatives

Saudi Arabia's SFD has provided $6.7 billion in oil derivatives support to Pakistan since 2019

Dubai: You can now pay your government fees in easy installments with Tabby on DubaiPay

To pay, select a service, then choose Tabby on the DubaiPay page for installments

What Trump’s sovereign wealth fund means for TikTok

Trump proposed a sovereign wealth fund to address American security and user privacy concerns

UAE’s FTA corporate tax awareness initiatives attract over 15,700 participants, rising 8.7 percent in 2024

In 2024, 96 percent of FTA attendees expressed satisfaction with the informative nature of awareness events

Sustainability in UAE mega projects boosts bonds, sukuk issuances

UAE's issuance growth will stem from $35 billion Al Maktoum Airport and $8.2 billion drainage projects.

Kuwait projects $58.9 billion revenue in draft budget for 2025-26

Non-oil revenues are expected to increase by 9 percent to $9.4 billion, says finance minister

Dubai Chamber of Digital Economy supports 1210 startups in 2024, trains 1333 Emiratis in app development

21 events were held this year to support startups, nurture talent, and strengthen partnerships

Samer Abu-Ltaif appointed Microsoft president for Europe, Middle East and Africa

During his two-decade tenure at Microsoft, Samer Abu-Ltaif spearheaded several transformative initiatives

MENA startups raise $2.3 billion in 2024, UAE leads with $1.1 billion

The UAE led the MENA region's startup ecosystem with $1.1 billion raised across 207 startups

EDB becomes first local UAE bank to receive “Great Place to Work” certification

EDB has expanded its team from 135 to over 350 employees since April 2021, a remarkable 159 percent increase

Qatar Central Bank issues treasury bills worth $466.9 million

QAR500 million for 7 days (new issue), with an interest rate of 4.610 percent; QAR250 million for a duration of 28 days

Dubai’s Mashreq Bank reports 4 percent increase in net profit to $2.45 billion in 2024

The bank's net profit before tax reached $2.7 billion, marking a 12 percent rise

Powell says Fed does “not need to be in a hurry” following rate cut pause, Trump responds

After cutting the benchmark interest rate by a full percentage point last year, the Fed kept it in the current 4.25-4.50 percent range

US Federal Reserve, UAE central bank hold interest rates steady

After cutting the benchmark interest rate a full percentage point last year, the Fed kept it in the current 4.25-4.50 percent range

UAE central bank drives digital transformation, growth with key initiatives in 2024

CBUAE was among the first central banks globally to issue Islamic CDs, with outstanding balances reaching AED42 billion in 2024