Banking & Finance

Abu Dhabi’s Mubadala acquires 80 percent stake in Global Medical Supply Chain, Al Ittihad Drug

Strategic acquisition enhances Mubadala's footprint in the healthcare logistics and pharmaceutical distribution sectors

Sharjah approves $11.4 billion budget for 2025, largest in emirate’s history

The budget empowers agencies to fund initiatives, provide housing for citizens, and upgrade tourism infrastructure

CBUAE forecasts real GDP growth: 4 percent in 2024, rising to 5.5 percent by 2026

Non-oil GDP growth is projected to remain robust at 4.9 percent in 2024 and 5.0 percent in 2025

Empowering the unbanked: How digital wallets and fintech are shaping the future of finance

The role of digital wallets and banks in expanding access to financial services

Nissan, Honda kick off merger discussions in new deal

The two companies expect the execution of a definitive agreement concerning the merger to take place in June 2025

450,000 businesses registered for corporate tax: UAE’s FTA

FTA director general stressed partner collaboration's importance for the authority's goals and the national economy

ADGM FSRA signs MoU with UAE Ministry of Interior to combat financial crimes

Agreement aims to facilitate the exchange of information and strengthen risk mitigation frameworks

ADFW 2024 draws over 20,000 participants, over 44 MoUs signed

Global financial firms, which collectively manage more than $42.5 trillion in assets, attended the event

DP World launches Middle East’s first $100 million blue bond to fund sustainable marine transport

Eligible initiatives include reducing maritime pollution, sustainable ports, and water quality

Global M&A deal value poised to hit $3.5 trillion in 2024: Report

This marks a 15 percent increase from the previous year and aligning with levels seen in the mid-2010s

OPEC Fund signs first loan agreement with Montenegro for $52 million to enhance climate initiatives

The loan is aimed at enhancing fiscal sustainability and facilitating the green transition in the southeastern European nation

GCC debt capital market hits $1 trillion with 40 percent as sukuk, says Fitch

ESG debt reached $48 billion outstanding, with 42 percent being sukuk

US Federal Reserve cuts interest rates by quarter point amid cooling inflation

Fed policymakers projected they will cut their benchmark rate by a quarter-point just twice in 2025

UAE payments revenue to reach $27.3 billion by 2028: Report

Despite global slowdowns, the UAE leads the GCC, fueled by digital transformation and financial investments 

ADGM to launch mobile app for an all-in-one business and lifestyle experience

In collaboration with Hub71, ADIO, Aldar Properties, The Galleria, and Numou

OPEC Fund authorizes nearly $1 billion in new development financing

These initiatives support global nations by improving infrastructure, food security, renewable energy, and economic resilience

UAE’s FTA launches VAT refund system for e-commerce retail purchases for tourists

Tourists in the UAE can apply for VAT refunds directly through e-commerce platforms registered with the authority before their purchases are shipped

Zand launches institutional-grade digital asset custody services

The service is designed for corporate and institutional clients

From dry powder to long-term value: Why AI is the future for sovereign wealth funds

With AI, investment institutions can enhance investment life cycle, drive value creation, and streamline internal operations

Integrating the digital and human workforce today for better banking tomorrow

Banks like Mashreq are adapting new technologies to meet customers’ changing preferences

ADNH Catering seeks Saudi expansion, raises stake in Compass Arabia to 50 percent

Riyadh's high-growth private healthcare sector presents compelling opportunities to increase market share

ADFW 2024: Finstreet launches first-of-its-kind international securities financial market infrastructure

With FSRA approval, Finstreet’s regulated subsidiaries are operational, accepting applications from professional investors

Mastercard brings Apple Pay to customers in Egypt

Apple Pay is available with the National Bank of Egypt, Banque Misr and Commercial International Bank