Banking & Finance

Saudi Central Bank permits 4 fintech startups to operate under Regulatory Sandbox

This highlights SAMA’s ongoing commitment to advancing the Saudi fintech sector, promoting financial inclusion and innovation

OPEC Fund loans $51.89 million to fuel Türkiye’s sustainable growth

The deal aims to support investments in renewable energy, energy efficiency, climate adaptation, climate-related equipment production, and circular economy initiatives

Abu Dhabi’s EMSTEEL delivers $2.25 billion in revenue for 2024

The company realized a solid Profit before tax of $117.6 million and Net Profit after tax of $106.7 million

Abu Dhabi’s IHC reports FY2024 revenue of $25.3 billion, 54.4 percent growth

Strong financial performance stemmed from robust contributions in Real Estate, Construction, Marine, and Dredging

DEWA announces record annual revenue of $8.43 billion for 2024

The Authority achieved EBITDA of $4.27 billion and net profit after tax of $1.97 billion

ADNOC Distribution posts record $1.05 billion EBITDA for FY 2024, up 4.8 percent year-on-year

Record performance highlights strong fuel volumes, retail growth, and contributions from Saudi Arabia and Egypt

WGS 2025: UAE launches annual federal budget yearbook 2025 “Empowering the Future of Generations to Come”

Comprehensive analysis of financial and non-financial data to enhance transparency and raise financial awareness

UAE Ministry of Finance unveils cabinet decision to introduce top-up tax for multinational enterprises

The UAE DMTT is closely aligned with the GloBE Model Rules issued by the Organisation for Economic Co-operation and Development (OECD)

IMF considers new funding for Egypt amid rising costs

Cairo currently benefits from an $8 billion IMF financing agreement expanded in 2022 for economic support

Central Bank of Oman launches 73rd issue of Government Development Bonds sized at $259.7 million

New offering has a maturity period of five years and a coupon rate of 4.60 percent per annum

Dubai’s TECOM Group posts record revenue of $653.4 million in 2024

The Group saw 14 percent YoY increase in net profit, reaching $326.7 million 

Saudi Arabia: Fiscal Sustainability Program plan completed, a milestone achievement for Vision 2030

The program boosted non-oil revenues from SAR186 billion in 2016 to SAR458 billion in 2023

FAB reports 13 percent rise in profit before tax to $5.42 billion, revenues hit $8.60 billion

Total assets increased 4 percent annually to AED1.21 trillion by the end of December 2024

Oman’s broad money supply grows 11 percent to $64.5 billion

Currency issued fell 5.2 percent to OMR1.5 billion by November 2024 from OMR1.58 billion

Nissan shares plummet over 4 percent as $60 billion merger talks with Honda might be called off

Honda shares closed 8.2 percent higher, reflecting investor relief over the potential deal cancellation

AAOIFI Sharia Standard 62 to shape the future of the sukuk market

In its public hearing, the AAOIFI mentioned that it is likely to approve Standard 62 in 2025

M&A market set for a comeback in 2025 as headwinds ease, says Bain & Company

Technology disruption is the long-term shift that will result in the most strategic transformation in the M&A market in the years ahead

Oman’s Central Bank issues treasury bills worth $59.7 million

The value of the allotted Treasury bills amounted to $1.55 million, for a maturity period of 28 days

Saudi Fund for Development, Pakistan finalize $1.2 billion financing agreement for oil derivatives

Saudi Arabia's SFD has provided $6.7 billion in oil derivatives support to Pakistan since 2019

Dubai: You can now pay your government fees in easy installments with Tabby on DubaiPay

To pay, select a service, then choose Tabby on the DubaiPay page for installments

What Trump’s sovereign wealth fund means for TikTok

Trump proposed a sovereign wealth fund to address American security and user privacy concerns