Banking & Finance

UAE named region’s best-funded startup ecosystem with $146 million raised in November

Tech startups in the MENA region secured $258 million through 46 deals last month

Central Bank of Kuwait allocates $792 million bonds, securitization

The bank specified that this issuance has a maturity period of three months and an interest rate of 4.125 percent

iPhone ‘Tap to Pay’ service launched for UAE merchants

Merchants can simply prompt customers to hold their contactless payment method near the iPhone

Samsung Pay service launched in Saudi Arabia, says SAMA

The agreement was signed at the inaugural 24 Fintech conference in Riyadh

ADFW through the years: A journey of growth and global influence

ADFW serves to reaffirm Abu Dhabi’s position as one of the Gulf Cooperation Council’s leading financial hubs

Abu Dhabi’s Hub71 secures $1.9 billion in funding for startups

The global tech hub generated revenues surpassing $1.08 billion

Abu Dhabi’s NMDC LTS signs definitive agreement to acquire 70 percent equity stake in Emdad

The acquisition, pending regulatory approvals, will allow NMDC to expand into oilfield services

Salik assigned strong investment grade credit ratings by Moody’s, Fitch

Fitch has assigned Salik an investment grade A- issuer default credit rating with a stable outlook

EDB provides $305 million in financing to UAE’s food security sector

EDB seeks to support the growth of a robust and resilient ecosystem that drives sustainable development

Saudi Arabia’s bank credit surges to record high $766.6 billion in October

Since the beginning of the year, bank credit has seen a 10 percent growth from SAR2.6 trillion at the end of January

Dubai Duty Free reports $1.94 billion in sales by end of November 2024

November 30 set a new daily sales record for the year at $8.46 million

Bitcoin price crosses $100,000 for the first time

The milestone signifies Bitcoin's growing acceptance in the financial mainstream

Gross assets of UAE banks rise to $1.19 trillion by August 2024

Gross credit at UAE banks increased by 0.5 percent to AED2.112 trillion at the end of August 2024

The economic impact of land degradation: Why $1 billion daily investments are crucial

$2.6 trillion is needed by 2030 to restore over one billion hectares of degraded land and improve drought resilience

UAE’s Federal Tax Authority urges businesses to file corporate tax returns by December 31, 2024

This will help them avoid administrative penalties for failing to comply with the legally mandated deadlines

AI infrastructure firm Nebius secures $700 million funding from Nvidia and Accel

The financing will help Nebius accelerate GPU clusters, cloud platforms, and other essential AI tools

UAE National Day: Celebrating 53 years of unity and progress through visionary leadership, groundbreaking initiatives

A comprehensive reflection on 2024’s milestones in governance, infrastructure, and global positioning

UAE National Day: Bahraini landmarks celebrate 53rd Eid Al Etihad with UAE flag colors

Bahrain’s Prince Salman congratulated UAE President on 53rd National Day

What is Islamic finance: Principles and opportunities for growth

The global Islamic finance industry is witnessing remarkable growth, with total assets reaching $3.3 trillion by the end of 2023

Abu Dhabi Business Week to feature top global innovators, influential leaders from December 4 to 6

Over 150 speakers from various sectors will share their entrepreneurial stories and insights with 8,000 attendees across ten events

EFG Hermes advises on Maarif Education’s landmark acquisition of Ibn Khaldoun Education in Saudi Arabia

This complex transaction stands as one of the most substantial investments to date in Saudi Arabia’s private K-12 education sector

Is Bitcoin a bubble? Sure, if bubbles could last for decades

Unlike classic bubbles, Bitcoin's value proposition doesn’t rely entirely on price hype

Mastercard Academy launches online course to empower people with essential financial skills

Program removes geographical barriers to financial education and promotes greater access to financial services

ECI, Free Zones Authority of Ajman sign MoU for insurance solutions, financing opportunities

ECI and Free Zones Authority of Ajman will strengthen and enhance their partnership in several insurance and risk management areas