Banking & Finance

UAE banking sector capital, reserves hit all-time high of $136.84 billion

Local banks took the lion's share, accounting for 86.3 percent of the total capital and reserves

Saudi Aramco achieves Q3 revenue of $111.1 billion, $27.6 billion in net profit

“Aramco delivered robust net income and generated strong free cash flow during the third quarter, despite a lower oil price environment,” Eng. Nasser said

stc Group achieves highest 9-month revenues of $15 billion, $2.98 billion in net profit

Total revenues grew 3.92 percent compared to the same period last year 

ADIB becomes first UAE bank to safely test fractional sukuk

With fractional sukuk, retail investors can invest as little as $1,000 in the sukuk market rather than a minimum of $200,000

Dardasha’s Reem Madkour wins Visa and PublisHer’s ‘She’s Next’ program in UAE

Madkour won a $50,000 grant and a three-month online mentorship from PublisHer

IMF to review Egypt’s loan program on Tuesday with GDP growth projected at 4.2 percent for FY2025

Georgieva noted that Egypt's inflation reached 37 percent in 2023 but has decreased to between 25 percent and 26 percent

ADGM launches new ‘Path to Forward’ brand identity

The new brand resonates with the financial centre’s growth, resilience, and optimism 

Alpha Dhabi records $3 billion net profit in 9 months

The Group achieved revenue of $12 billion, representing a 36 percent year-on-year increase 

Saudi Arabia’s PIF signs five deals worth $51 billion with top Japanese financial institutions

Agreements play a key role in the fund's strategy to boost financial collaboration globally and enhance cooperation in key sectors

Qatar’s Ooredoo reports $4.85 billion revenue in first nine months of 2024

EBITDA rose by 4 percent to $2.11 billion, resulting in an EBITDA margin of 44 percent

stc Group’s tali ventures leads $10 million investment in Series B funding for NorthLadder

This funding round was spearheaded by tali ventures, with additional contributions from the Dutch Founders Fund and Crescent Ventures

S&P predict robust growth in UAE Islamic finance driven by non-oil economy, $6.1 billion sukuk surge 

The agency notes a rise in foreign currency sukuk issuance, particularly in real estate and finance, to attract foreign investment 

FII8: NBK’s Shaikha Al-Bahar spotlights role of AI, fintech in driving banking growth

The future of banking will be defined not by head-to-head competition with fintech companies, but by cooperation

Visa opens new innovation center in Saudi Arabia

The new facility will act as a hub for co-designing cutting-edge payment solutions for Kingdom and GCC

Abu Dhabi’s CYVN Holdings to acquire McLaren’s automotive business from Mumtalakat

CYVN Holdings investment would bring McLaren access to additional capital and expertise particularly in the field of electric vehicles

Dubai’s du profits rise 49.7 percent to $517.2 million in nine months

During Q3, net profit surged to AED719 million, representing the highest quarterly net profit in the past three years

Sheikh Mohammed approves Dubai’s largest ever budget for 2025-2027 with $82.2 billion expected revenue

For FY 2025, estimated expenditures are set at AED86.26 billion, with anticipated revenues of AED97.66 billion

Orange Middle East and Africa, Mastercard collaborate to digitize payments for millions across Africa by 2025

Partnership to empower millions of Orange Money wallets with digital payments by 2025, boosting financial inclusion in seven countries

Sheikh Mohammed and Vietnam PM discuss enhancing bilateral cooperation, sign CEPA

CEPA facilitates UAE service providers' access to various sectors in Vietnam, including business, finance, and tourism

UAE’s foresight, regulations make it a hub for fintech, blockchain

Maintaining a leadership position in a rapidly evolving market requires immense commitment and adaptability, says Amir Tabch

ADGM appoints Sir Nicholas Patten as Court of Appeal Judge to ADGM Courts

Sir Nicholas Patten replaces the Right Honourable Sir Peter Blanchard KNZM after he recently retired as an ADGM Court of Appeal Judge 

Abu Dhabi’s NMDC Group reports $598.96 million net profit in first nine months of 2024, driven by strong project pipeline

A remarkable 68 percent increase in revenues and a 45 percent rise in net profits compared to the same period last year

Dubai Finance launches Smart Installment System and Biometric Payment System

These agreements were revealed during the recent Gitex Global 2024 event in Dubai