Banking & Finance

Saudi Arabia’s ZATCA urges commercial sector to submit VAT statements for January

The decision applies to those whose annual revenues from goods and services exceed $10.7 million

Oman secures $132.5 million for second phase of Sohar Freezone industrial waste treatment facility

This project will enhance the national economy while advancing sustainability and circular economy goals

AED500 banknote wins ‘Best New Banknote Issue’ for 2025 in Europe, MEA Region

The recognition was attributed to the CBUAE's implementation of the latest technical specifications and advanced security features

UAE GDP growth expected to rise from 4.5 percent to 5.6 percent, outpacing IMF’s 3.2 percent forecast: Report

Growth rate of GCC region is expected to double from 2.1 percent to 4.2 percent in 2025

King Salman approves Saudi riyal symbol, reinforcing national financial identity and rich cultural heritage

The decision strengthens the Kingdom's financial identity on local, regional, and international fronts

ADEX more than doubles nine-lender finance facility for energy trader BGN to $232.5 million

Facility incorporates an innovative Murabaha tranche to accommodate Islamic banks alongside conventional financing

Saudi Aramco to acquire 25 percent stake in Unioil Petroleum Philippines

The agreement, subject to standard conditions, supports the company's strategy to expand its global retail network

Etihad Airways reports $6.9 billion revenue, 25 percent year-on-year growth

This growth was fueled by remarkable performance in both passenger and cargo sectors

Saudi Arabia’s ACWA Power secures $693 million deal to acquire power and water assets in Kuwait, Bahrain

This deal includes a 4.6-gigawatt power generation portfolio and 1.114 million cubic meters of desalination

Saudi Arabia raises $818.8 million in February four-tranche sukuk issuance

Saudi Arabia's debt capital market is expected to surpass $500 billion in 2025

Bahrain’s $265.37 million government treasury bills oversubscribed by 113 percent

With the latest issuance, the total outstanding value of government treasury bills is BHD2.110 billion

DIFC revenues grow 37 percent to record $484 million in 2024

Center now houses 6,920 active companies, a 25 percent increase from 5,523 in 2023

e& enterprise collaborates with PayPal for enhanced digital payments solutions

Agreement enables UAE businesses to seamlessly integrate PayPal, attracting a broader international customer base

Bank of Sharjah acts as mandated lead arranger, bookrunner in $155 million loan for ‘Daewoo Engineering’

This three-year facility, arranged with regional banks, supports Daewoo’s global working capital needs

Elon Musk’s bid for OpenAI rejected: What’s next for the AI giant?

Musk's bid for OpenAI aims to prevent the organization from shifting to a profit-driven model

Dubai’s Emaar Properties posts $9.7 billion in revenue, $5.1 billion profit following record year

Property sales reached $19 billion, a 72 percent increase from $11 billion in 2023 

Abu Dhabi’s Alef Education sustains strong growth in 2024, achieves revenues of $206.6 million

The company saw a 6 percent rise in profit before tax to $133.9 million, driven by strong contracts

AD Ports Group posts net profit of $484.6 million in 2024, revenue up 48 percent to $4.7 billion

EBITDA grew 69 percent year-over-year to $1.2 billion, resulting in a 26.1 percent margin

Estithmar Holding’s revenues rise by 44 percent to $1.15 billion in FY2024

The company's net profit increases by 20 percent to $115.6 million

Nissan, Honda call off $60 billion merger talks amid increasingly volatile market environment

Honda CEO says the company wants to think about the possibility of collaborating with companies other than Nissan and Mitsubishi Motors

WGS 2025: IFC provided over $2.3 billion in financing to UAE-based multinational companies in 2024

During the last financial year, the Washington-based organization invested $56 billion in emerging markets

Egypt issues new guide to help investors understand rights, tax obligations

This initiative is designed to reassure both current and prospective investors regarding their future tax responsibilities

ADNOC L&S announces revenue of $3.55 billion in 2024, up 29 percent year-on-year

EBITDA rose by 31 percent to $1.15 billion during this period, propelled by robust performance across all business sectors