Banking & Finance

LEAP 2024: Saudi Arabia bolsters tech hub leadership with $888 million in deals

Investment funds and funding rounds to support innovation and tech entrepreneurship

New acceleration program for women-led startups launched in UAE

The program seeks to promote economic equality between genders

Key takeaways from the 18th EFG Hermes annual one-on-one conference opening session

Exploring the depth of FEM and the inherent potential of the region

ADGM hosts inaugural event for business community on Al Reem Island

The event aimed to connect with the business community on the island, following the tenfold expansion of its jurisdiction

Dubai’s Salik sees net profit soar to $80.31 million in Q4 2023

Fourth quarter net profit grew 15.9 percent versus the prior quarter

UAE’s ADNOC acquires 24.9 percent stake in Austria’s OMV

The transaction has increased UAE firm’s shareholdings in Borealis and Borouge

G20 FMCBG: Al Hussaini highlights UAE’s commitment to promoting financial inclusion and reducing inequalities

The minister highlighted the country's interest in strengthening economic and financial cooperation

ACWA Power net profit soars 8 percent to $443 million in 2023

The company’s board approved a dividend payment of SAR 329.0 million for 2023, payable in 2024

FAB targets $81.68 million annual revenues from China operations by 2026

FAB seeks to triple revenues and strengthened bilateral ties with China

Dubai Islamic Bank issues landmark $1 billion sustainable sukuk

An over-subscription of 2.5 times demonstrates investor trust in the lender

Mashreq closes $88 million syndicated term loan facility for joint-stock commercial bank ‘Agrobank’

This transaction holds significance as it marks the debut of a state-owned bank from Uzbekistan in the MENA region.

QIA to invest $1 billion to support local and regional entrepreneurs

Fund aims to foster a thriving VC community, generate market-level commercial returns

EDB’s contribution to industrial GDP grows 80 percent in 2023

Fueling UAE's economic growth and industrial advancement

UAE-listed banks experience 54 percent surge in profits, reaching $20.93 billion in 2023: Report

This growth was primarily driven by a 28 percent increase in net interest income

Mubadala, Goldman Sachs sign $1 bn deal to pursue Asian private credit opportunities

Abu Dhabi's sovereign wealth fund expands presence in private credit markets

Emirates NBD general assembly approves doubling of dividend

A total of AED7.58 billion will be distributed as dividends to Emirates NBD shareholders

Sheikh Mohammed: Emirates NBD continues to play a major role in the sustained growth of UAE’s banking sector

During a visit to Emirates NBD headquarters on the occasion of the bank’s 60th anniversary celebrations

From banks to finfluencers: Navigating the new investment landscape in MENA

Challenges and risks arise as social media democratizes investment information

Bankruptcy law, insolvency key focus at financial restructuring conference in Abu Dhabi

Experts take stock of the progress made on the restructuring front in the MENA economies so far.