Banking & Finance

Saudi Arabia’s PIF announces pricing of $4 billion bond offering

Offering was four times oversubscribed, with an order book of approximately $16 billion

UAE’s FTA urges natural persons to register for Corporate Tax before March 31

The FTA defines a 'natural person' as any living human being, regardless of age or residence

Oman, India sign tax protocol to boost economic relations

India-Oman trade grew to $12.388 billion in 2022-2023

Middle East families to see $1 trillion transfer of generational wealth by 2030: Report

Only 24 percent of High-Net-Worth Individuals currently have a full estate plan in place

NEOM secures $3 billion financing facility with Italy’s SACE to support key projects

Deal marks NEOM's first corporate ECA financing and the largest untied financing ever guaranteed by SACE

Fed to hold interest rates steady as Trump calls for lowering borrowing costs

The market is pricing in the possibility that the U.S. central bank will lower borrowing costs twice by the end of this year

ADGM launches all-in-one mobile app to boost connectivity across financial district

The app offers residents and visitors access to lifestyle features, cultural activities, and exclusive services

UAE digital VAT refund system achieves 34,900 applications, $789.5 million in refunds

In 2024, UAE nationals received 7,520 VAT refund applications for new residences, totaling $191.8 million

Bank of Japan raises policy interest rate to 0.5 percent, highest in 17 years

Markets are pricing in one more 25-basis-point interest rate hike for Japan by the end of this year

Saudi Arabia achieves record 178 venture capital deals in 2024, retains top rank in MENA region

E-commerce dominated with 33 percent of total funding with a value of $247 million

OPEC Fund provides $50 million loan to improve connectivity in Paraguay

Infrastructure boost will support growth in economic activity, strengthen regional trade and foster economic integration

Reem Finance joins Etihad Credit Insurance’s “Xport Xponential” Program

Partnership will provide UAE businesses with enhanced financial solutions to fuel their international trade ambitions

UAE Central Bank reports gold reserves over $6.6 billion by end of October 2024

This represents a month-on-month increase of 5.5 percent, or $348.5 million

UAE unveils limited edition silver coin to celebrate Central Bank’s 50th anniversary

The CBUAE has issued 3,000 of these commemorative coins, each weighing 60 grams

UAE 2024 sukuk market expands: $14.4 billion issued, $14-15 billion projected for 2025

This is supported by ongoing activities from both banks and corporate entities

UAE’s January Islamic Treasury Sukuk auction attracts bids worth $1.88 billion

Auction witnessed strong demand from the eight primary dealers for both tranches maturing in May 2027 and September 2029

Global ESG sukuk market to surpass $50 billion in 2025

In the GCC region, the ESG debt capital market reached $46.3 billion outstanding

Dubai’s Mashreq expands into Oman with tailored financial corporate services to support Vision 2040

The bank aims to nurture resilient entrepreneurial talent and foster a dynamic, knowledge-driven economy

Mastercard, foodpanda partner to fuel growth of Pakistan’s digital economy

Partnership seeks to accelerate digital payment adoption, enabling the growth of a cashless economy

Saudi Arabia GDP growth rate projected at 4 percent from 2025 to 2027: S&P

Vision 2030 initiatives expected to boost non-oil growth by 10 percent in the Kingdom

Sharjah Islamic Bank posts record profit of $313.1 million in 2024

Total profit from financing grew 20.6 percent, reaching AED3.7 billion in 2024

Qatar Central Bank launches first phase of Primary Dealer framework with Bloomberg

First phase focused on integrating the Bloomberg Auction System to enhance the local currency debt issuance process and workflows

UAE, Russia sign double taxation avoidance draft agreement to boost economic cooperation

This agreement seeks to establish a stable and investment-friendly tax framework and eliminate tax barriers