Banking & Finance

Etihad Credit Insurance sees $381.2 million in credit coverage in Abu Dhabi in first eight months of 2024

ECI achieves 8 per cent increase in credit coverage and 24 per cent growth in insurance document issuance

World Bank, Qatar in global education partnership

The World Bank will work with Qatar and Education Above All in the development of new, innovative financial tools for education

Invest in UAE stock markets with zero transaction fees as Emirates NBD launches new initiative

Platform includes more than 11,000 global equities and 150 regional equities to trade

Qatar’s private sector credit to grow on large-scale project momentum, says Moody’s

Qatari banks will likely shift toward a longer-term funding structure in a lower interest rate environment

MENA private equity investments hit $5.9 billion in H1 2024: Report

Since 2020, private equity deal value has remained above $10 billion, supported by mega deals

Dubai to host ‘The Africa Debate’ on October 31 to boost trade, investment

The event reflects the UAE's commitment to strengthening its economic and trade relationships with African nations

Visa responds to challenges and opportunities in Saudi Arabia’s growing tourism sector

Innovating payment and tourism ecosystems key to leveraging consumers’ increasingly digital lifestyle

EFG Hermes KSA: Banking on opportunities in Saudi Vision 2030 and beyond

Since 2019, firm has successfully completed more than 14 IPOs in the Kingdom

UAE banks’ capital, reserves reach $134.8 billion by June 2024, says Central Bank

National banks comprised 86.3 percent of the total capital and reserves, amounting to $116.4 billion

OPEC fund approves $1.2 billion development funding for over 17 countries

Fund approved $392 million for Oman, which will support the Dibba-Lima-Khasab road project

Islamic banks to outpace conventional banking in GCC, says Moody’s

Non-oil economic growth in GCC countries to remain strong in 2025 due to ambitious government economic diversification plans

Gross banks’ assets surpass $1.16 trillion by end of June 2024, reports UAE Central Bank

Gross credit rose by 1.1 percent to AED2,100.9 billion by the end of June 2024

AI to contribute $100 billion to UAE’s GDP by 2030

The UAE is solidifying its status as a leading player in the global AI landscape, says Astra Tech founder

PGIM secures ADGM license, opens office in Abu Dhabi

This marks PGIM’s formal entry into the Middle East market

Abu Dhabi’s Hub71 welcomes 21 startups with $134.9 million in funding

Seven startups will join Hub71+ ClimateTech, gaining tailored resources for their sustainability missions

Saudi Aramco announces agreements with key Chinese partners

Aramco's agreement with Hengli Group enables talks for a potential 10 percent stake acquisition

Oman Central Bank issues treasury bills worth $77.93 million

The bills have a maturity period of 28 days amounted to OMR300,000, with an average acceptable price of OMR99.650 

Kuwait Central Bank issues bonds, tawarruq worth $792 million

On August 19, KCB announced a similar allocation of bonds and tawarruq for three months at the same value and return rate 

UAE: RAKBANK executes its first central bank digital currency cross-border transaction

The trade, facilitated through CBUAE’s mBridge platform, instantaneously transferred digital dirham against digital Chinese yuan

Unlocking MENA’s thriving investment opportunities at the EFG Hermes 10th Annual London Investor Conference

Leaders will convene from September 9 to 12 to discuss innovations in capital markets and regulatory developments

Microsoft and partners to generate $24 billion in Saudi Arabia over next four years, says IDC study

Microsoft’s partner ecosystem will earn roughly $8 for every $1 of revenue generated by Microsoft’s cloud services

Central Bank of Egypt forecasts easing inflation amid continued maintenance of interest rates

The MPC noted that domestic real GDP growth had moderated to 2.2 percent in the first quarter of 2024

Bank of Sharjah prices $500 million bond, attracts orders worth $1.4 billion

The bonds have a tenor of five years from the date of issuance, with a coupon of 5.25 percent per annum