Banking & Finance

ADNOC Gas net income surges 21 percent in Q1 2024 at $1.18 billion

Domestic gas net income unit margin saw a 20 percent Y-o-Y improvement

UAE’s Alpha Dhabi posts $1.25 billion net profit in Q1 2024

The strong financial performance across the group during Q1 '24 was highlighted by a record revenue of $3.86 billion

Saudi Arabia’s Vision 2030 will need around $1 trillion in investments over several years: Report

Non-oil economy will continue to grow with increased government investments in Vision 2030 projects

Egypt’s Mashrou’ak program funds 211,000 projects worth $590 million: Minister

The Minister promoted investment and private sector activities in agricultural industrialization with 341 technological centers

South Korea, Asian Development Bank sign $2 billion agreement to support development projects

The cofinancing will support projects that include climate change, transportation, energy, agriculture, ICT

US Federal Reserve, UAE Central Bank keep interest rates unchanged

Interest rate cuts by the Fed, expected earlier this year, have been delayed due to stubbornly high inflation

UAE banks thriving, Al Maktoum airport expansion to reshape real estate landscape: S&P

Real estate transactions, demand and prices in Dubai witnessed a surge in recent years

UAE banks’ gross assets reach record high, exceed $1.14 trillion in February 2024: CBUAE

UAE banks' monetary base expanded 2.7 percent monthly to AED688.7 billion in February

ADIB card holders can now use Visa’s installment solution at NEOPAY locations

The payment solution is now available at multiple locations across the UAE

Dubai weather: Interest-free loans with grace period of up to 1 year announced

Eligible companies to obtain interest-free loans of a maximum of AED300,000

Abu Dhabi issues bonds worth $5 billion

The bonds comprised three tranches and have three different maturity periods

Abu Dhabi’s ADQ acquires 49 percent stake in Plenary Group to drive public infrastructure expansion

The stake includes the shares currently owned by Canadian pension fund Caisse de dépôt et placement du Québec

Hedge fund industry sees $190 billion asset growth in Q1, hits record $4.3 trillion

The industry attracted $16.6 billion in new investments, with a focus on equity and event-driven hedge fund strategies

UAE corporate tax: FTA urges registration by May 31 for select licence holders

Failure to comply with the deadlines could result in administrative penalties

UAE’s ADNIC acquires majority stake in Allianz Saudi Fransi, expands footprint in Gulf region

The acquisition will make ADNIC one of the Tier-1 listed insurers in Saudi Arabia

The World Bank: MENA can be an engine for change, partner for sustainable future

Region must tackle important structural reform agenda to ensure peace and stability

MENA’s banking and finance sector embraces the digital tide

Tech-driven transformation revolutionizes banking and finance in the Middle East

Visa’s CEMEA President Andrew Torre on getting ready for the next wave of digital disruption

Businesses need to be agile, adapt their strategies and invest in digital infrastructure