Banking & Finance

Mashreq expands collaboration with Oracle, to migrate to its database service

Mashreq selects Oracle Exadata Cloud@Customer to leverage cloud automation and boost scalability

Middle East sustainable bond issuances hit $16.7 billion in first nine months of 2024: S&P

Total volume of sustainable sukuk globally reached $7.1 billion in the first nine months of 2024, down 11 percent year-on-year

Expand North Star 2024 draws 65 unicorns valued at $400 billion

CEOs of unicorns noted that Dubai is an ideal gateway for launching global digital initiatives

RAK Properties collaborates with Commercial Bank of Dubai on $544.5 million financing agreement

The funding will support RAK Properties' projects, including luxury hotels and residential communities in Mina Al Arab

Gitex Global 2024: Khalifa Fund launches AI platform to enhance operational efficiency, transform public services

The platform aims to improve government solutions for better service delivery and adaptability

Dubai Cares partners with UAE Stands with Lebanon initiative to deliver urgent humanitarian relief amid the ongoing crisis

This collaboration aims to mobilize the UAE community to raise vital funds for emergency relief

GCC venture capital funding grows 30 percent amid global slowdown: Report

In 2023, overall global venture capital funding declined to $248.4 billion, the lowest since 2017

UAE driving global leadership in green finance, ESG Sukuk

The country has pledged to mobilize AED1 trillion by 2030 to fund sustainable projects

ADNOC gets all approvals to buy 50 percent plus 1 share stake in Fertiglobe

A block trade will occur on the Abu Dhabi Securities Exchange (ADX) today, October 11, 2024, settling on October 15

ADGM Academy, Fintech Tuesdays partner to strengthen fintech innovation in UAE, MENA

Training programs will include content to support the fintech and digital community, driving upskilling and re-skilling

Dubai Islamic Bank issues $500 million additional Tier 1 Sukuk

The issuance drew a diverse investor base, including banks and fund managers from Europe, Asia, and the Middle East

Outstanding global sukuk up 8.5 percent to $900 billion in Q3 2024, says Fitch

Fitch expects rates to reach 4.5 percent at the end of 2024 and 3.5 percent at the end of 2025, boosting Q4 and 2025's issuance activity

Oman’s public state revenues rise to $20.78 billion in August 2024 on oil revenue surge

Current public revenues reached OMR2.2 billion, down from OMR2.334 billion during the same period in 2023

Qatar Central Bank launches 2024-2030 strategy with 25 key initiatives, over 200 projects

Strategy's core values include integrity, excellence, innovation, sustainability, and inclusion

Welcome to the Capital of Capital: Abu Dhabi to hold ADFW 2024

More than 300 renowned speakers to address over 18,000 participants across 50 event

Ooredoo raises $500 million through 10-year bond issue

The bond features an annual coupon rate of 4.625 percent and matures in October 2034

ADIO, HSBC partner to drive bilateral trade, investment flows between Abu Dhabi and Asia

HSBC’s 160-year heritage in Asia gives the bank the expertise and reach to help achieve Abu Dhabi’s international goals

Abu Dhabi tops Global SWF charts with $1.7 trillion in assets under sovereign wealth fund management

The top six cities manage two-thirds of sovereign wealth fund capital globally, which amounted to $12.5 trillion in October

Dubai’s Financial Audit Authority to reveal 3 new digital services at GITEX 2024

One key service is the Al Mo’ashir Dashboard, a platform that provides insights from the Authority’s auditing data 

ADIA establishes subsidiary in India’s GIFT City

The subsidiary has received regulatory approval from the IFSCA and is now operational

Emirates Development Bank’s financing hits $3.51 billion in Q3 2024

Bank allocated $1.20 billion for the development and growth of Dubai’s key sectors

Saudi Arabia’s Alinma Bank, Dell Technologies partner to advance financial services

Partnership marks a significant step forward in the Shariah-compliant bank’s digital transformation strategy