Banking & Finance

Emirates NBD redefines cross border payments in partnership with Partior

Bank becomes the first regional and UAE dirham, Saudi riyal, and Indian rupee settlement bank on the platform

Saudi Aramco CEO advocates for revised energy transition plan addressing Asia’s needs

Nasser noted that Asia and the Global South are often overlooked in transition plans, impacting the world 

UAE emerges as region’s top startup hub with over 5,600 registrations in Q2 2024

UAE leads the region in the fintech startup sector, with over 550 companies currently operating in this field

FAB reports 16 percent rise in revenues to $6.51 billion in first nine months of 2024

Net profit rose 4 percent year-on-year to AED12.9 billion in the first nine months of 2024

Sharjah Islamic Bank profit before tax up 29 percent to $270.1 million for nine months ending September

The bank is diversifying its financing portfolio, with total customer financing at AED36.6 billion

Lagarde signals shift in ECB strategy with third rate cut in 2024

This marks the first consecutive rate reduction in 13 years

Central Bank of Egypt holds key interest rates steady amid inflation control, mixed economic indicators

The committee noted that this decision reflects recent global and local developments

Why financial inclusion of the youth is important for our economies

Financial products and services that could help young adults are sometimes out of reach due to governing frameworks and societal biases

Mastercard partners with noon Payments to launch passkey service in UAE

Payment passkeys use device-based biometrics to replace OTPs, making online transactions faster and safer

Emirates NBD profits grow 9 percent to record $5.17 billion in first nine months of 2024

Significant loan growth, a low-cost funding base and strong transaction volumes propel group's growth

ADQ, Bank Audi sign definitive agreement to acquire 96 percent of Odea Bank

This move would accelerate Odeabank’s growth and drive tech advancements in financial services

Gitex Global 2024: FTA, Dubai Land Department to enhance tax compliance for real estate, commercial land sales

The initiative seeks to streamline tax compliance by collecting VAT on real estate and land transactions

Mashreq expands collaboration with Oracle, to migrate to its database service

Mashreq selects Oracle Exadata Cloud@Customer to leverage cloud automation and boost scalability

Middle East sustainable bond issuances hit $16.7 billion in first nine months of 2024: S&P

Total volume of sustainable sukuk globally reached $7.1 billion in the first nine months of 2024, down 11 percent year-on-year

Expand North Star 2024 draws 65 unicorns valued at $400 billion

CEOs of unicorns noted that Dubai is an ideal gateway for launching global digital initiatives

RAK Properties collaborates with Commercial Bank of Dubai on $544.5 million financing agreement

The funding will support RAK Properties' projects, including luxury hotels and residential communities in Mina Al Arab

Gitex Global 2024: Khalifa Fund launches AI platform to enhance operational efficiency, transform public services

The platform aims to improve government solutions for better service delivery and adaptability

Dubai Cares partners with UAE Stands with Lebanon initiative to deliver urgent humanitarian relief amid the ongoing crisis

This collaboration aims to mobilize the UAE community to raise vital funds for emergency relief

GCC venture capital funding grows 30 percent amid global slowdown: Report

In 2023, overall global venture capital funding declined to $248.4 billion, the lowest since 2017

UAE driving global leadership in green finance, ESG Sukuk

The country has pledged to mobilize AED1 trillion by 2030 to fund sustainable projects

ADNOC gets all approvals to buy 50 percent plus 1 share stake in Fertiglobe

A block trade will occur on the Abu Dhabi Securities Exchange (ADX) today, October 11, 2024, settling on October 15