Banking & Finance

AD Ports Group’s Q1 2025 revenue surges to $1.25 billion, net profit climbs 16 percent

Group EBITDA rises to $310.4 million, with net profit soaring to $126.3 million

UAE Islamic finance industry surpasses $285 billion, new strategy to further boost growth: Fitch

The UAE Islamic finance industry is estimated to have reached over $285 billion at the end of Q1 2025

Dubai Taxi Company posts $160.2 million in Q1 2025 revenue, up 5 percent YoY

Strategic Bolt partnership impacted short-term profits as DTC eyes long-term growth

Qatar Central Bank sees 3.58 percent rise in foreign reserves to $70.5 billion in April 2025

The official reserves include bonds, foreign treasury bills, gold, and Special Drawing Rights (SDRs)

UAE FTA offers relief from penalties for late corporate tax registration

Late submission of tax registration applications now eligible for penalty waivers within specified deadlines

UAE hosts its first-ever BRICS meeting, explores financing public-private partnerships and infrastructure

UAE aims to establish a sustainable platform for exchanging expertise between BRICS countries

Qatar’s Islamic finance assets soar to $190.6 billion in 2024, dominating 97 percent of market

Qatar's islamic banking surged to $160.9 billion, outperforming conventional banks

ADQ’s $2 billion dual-tranche bond oversubscribed more than 3.5 times

Proceeds will provide growth capital and fund projects that advance ADQ's mandate and long-term growth ambitions

Dubai emerges as a global financial hub with DFM foreign investor participation hitting 85 percent

Chinese corporations are increasingly turning to Dubai, with over $22 billion in debt on the exchange at the end of 2024

China slashes interest rates, injects $138 billion liquidity to counter U.S. trade tensions

U.S. and Chinese officials prepare for crucial talks in Switzerland to ease trade tensions 

Visa and Whish Money partner to elevate digital payment solutions across Lebanon, international markets

The collaboration enables Whish Money to integrate Visa’s advanced payment technologies for improved services

UAE Cabinet approves Strategy for Islamic Finance and Halal Industry

The strategy aims to increase the assets of UAE Islamic banks from AED986 billion to AED2.56 trillion within six years

Dubai’s du posts 19.8 percent net profit increase with Q1 revenues growing to $1.03 billion

Q1 EBITDA surged by 15.0 percent, achieving a remarkable margin of 47.4 percent.

UAE’s ADNOC raises $1.5 billion through debut sukuk

Net proceeds will support ADNOC Group for general corporate purposes and funding diversification

Alpha Dhabi Holding reports $1.2 billion adjusted EBITDA, $4.7 billion revenue growth of 23 percent

Company’s diverse portfolio has been crucial for driving revenue growth and enhancing profitability

MENA startup funding grows 300 percent to $228.4 million in April 2025

Saudi Arabia led MENA startup funding during the month, attracting $158.5 million across eight deals

ADNOC Distribution reports 16 percent net profit increase to $174 million in Q1 2025

EBITDA rose by 11 percent to $275 million, the highest first-quarter result since 2017 IPO

Visa introduces AI shopping agents powered by OpenAI, Microsoft

Visa CEO emphasized the need for secure AI-enabled payments in evolving commerce landscape

Dubai’s TECOM Group posts $185.1 million in revenues, up 21 percent YoY

Diverse asset portfolio and long-term strategy drive 23 percent YoY profit increase

Saudi Arabia’s PIF prices $1.25 billion international sukuk offering

The seven-year sukuk was more than 6.5 times oversubscribed, with orders exceeding $9 billion

Abu Dhabi’s MGX to close $2 billion investment in Binance using USD1 stablecoin

This investment is the single largest investment in a crypto company and the largest investment ever paid in stablecoin

BNY Mellon secures regional headquarters license in Saudi Arabia

New RHQ will enhance operations and services across the Middle East