Banking & Finance

National banks in the UAE invest $1.19 billion in local stock markets in 12 months: CBUAE

By the end of May, these banks had elevated their equity investments to AED16.1 billion

Abu Dhabi’s Masdar’s $1 billion green bond issuance drew $4.6 billion in demand, oversubscribed 4.6x

In July 2024, Masdar successfully raised $1 billion through its green bond issuance under its Green Finance Framework

Italy’s Saipem secures $1 billion in two major offshore contracts with Saudi Aramco

Saipem will be responsible for the EPCI three production deck modules, 33 km of subsea pipelines, and 34 km of power cables

How remittances from the Middle East empower global economies

The Middle East and North Africa region has become a top destination for high-skill migration, resulting in substantial outward remittances

UAE corporate tax: FTA urges registration by end of September

The FTA noted that an administrative penalty will be levied on taxable persons who fail to comply

Abu Dhabi’s Yahsat approves interim dividend of $55.79 million for H1 2024

Dividends will be distributed to shareholders registered by the end of the business day on September 12

STC Bank becomes founding partner of Saudi Arabia’s 24 Fintech event

During its participation at 24 Fintech, STC Bank will showcase its offerings and services

UAE approves consolidated financial statistics for 2023 with $39.2 billion government surplus 

Last year, the country attracted a record $30.49 billion in foreign direct investment, ranking second globally

Algeria joins BRICS New Development Bank: A new era in economic collaboration

By joining the BRICS financial branch, Algeria is advancing its global financial integration

Bahrain: Multinational enterprises required to pay new 15 percent minimum tax on profits starting January 1, 2025

This new framework for MNEs is fully in line with the guidelines set by the OECD

UAE to host major global events in September: All you need to know

The DIFC will host the inaugural Dubai AI & Web3 Festival on September 11-12 at Madinat Jumeirah

Kuwait Warba Bank’s $500 million sukuk issuance on London Stock Exchange draws $1.8 billion in 3.5x demand

These five-year sukuk support projects advancing ESG goals aligned with sustainability objectives

Listed firms in GCC report $60.7 billion in net profits, 8.1 percent QoQ growth

Dubai's YoY profit growth reached 30.9 percent in Q2 2024, totaling $6.7 billion

ADFW 2024 set to begin on December 9, to host 50 events

Last year’s edition of ADFW hosted over 3,300 directors and executives from leading global financial firms

Qatar Central Bank releases $1.23 billion in T-bills, attracts $3.58 billion in bids

The bills included QAR300 million for a 7-day term (Tap Issuance) at an interest rate of 5.7815 percent

Global video game market expected to reach $257 billion by 2028: Key trends and insights

Over 25 percent of revenue invested in marketing by companies under $1 billion

UAE Islamic T-sukuk auction draws $1.72 billion in bids, oversubscribing by 5.7 times

This $299.49 million auction is part of the Islamic T-Sukuk issuance program for August 2024

Celebrating Emirati Women’s Day: Visa’s ‘She’s Next’ returns to UAE with third edition

The third edition supports women entrepreneurs in publishing, fashion, food, and more over several months

GCC listed banks post record $14.8 billion net profit in Q2 2024

Year-over-year, the growth was robust at 9.2 percent compared to Q2 2023

Saudi Arabia’s PIF signs $15 billion revolving credit facility with 23 international financial institutions

The facility has a duration of three years and is extendable for up to two additional years

Emirati Women’s Day: Celebrating the driving forces behind Abu Dhabi’s SME growth

How Emirati female entrepreneurs help shape Abu Dhabi’s diversified economy