Banking & Finance

Al Etihad Payments to launch co-branded Jaywan debit, prepaid cards with Mastercard

Al Etihad Payments ties up with Mastercard to offer the co-branded cards in the UAE

Interest rate cuts boost net income at Saudi banks to $5.73 billion in Q4 2024, says Fitch

The total net profit of Saudi banks rose to SAR80 billion in 2024 from SAR70 billion in 2023

Abu Dhabi Islamic Bank shareholders approve $825 million cash dividend, 50 percent of 2024 net profit

The AGM highlighted ADIB's strong business momentum and the exceptional 2024 performance

Abu Dhabi’s Borouge annual dividend yield at 6.7 percent, offering strong investor returns

The company's 2024 financial results show resilience with $1.22 billion net earnings, a 24 percent YoY increase

National Bank of Fujairah leads in arranging $100 million syndicated financing deal

The $135.97 million financing will enable the acquisition of vital equipment and ensure project success

UAE residents can now use Jaywan co-badge card in 200 countries after Visa deal

Domestic transactions use UAESWITCH; cross-border transactions outside GCC will utilize Visa's global network, VisaNet

Expand North Star 2025 global promotional campaign kicks off in U.S.

As part of the campaign, a startup pitch competition featured 20 innovative companies

Saudi Arabia’s liquidity grows 9 percent to $778.6 billion in 2024

Demand deposits, which constitute the largest share, accounted for 49.3 percent of the total liquidity at SAR1.440 trillion

CBUAE first Central Bank in region to sign Statement of Commitment to FX Global Code

This code promotes integrity, transparency, and fairness in the wholesale foreign exchange market practices

Standard Chartered boosts investment in Futuremakers Women in Tech program across Africa, Middle East and Pakistan

Over three years, 400 women entrepreneurs will receive support to build thriving micro businesses and create jobs

Saudi Arabia’s private equity transactions hit $2.8 billion across 15 deals in 2024: Report

Growth-stage investments accounted for 67 percent of total transactions in 2024, up from 43 percent in 2023

PIF, Goldman Sachs Asset Management to partner on investments in Saudi Arabia and GCC

PIF will act as a strategic anchor investor for new private credit and public equity strategies in Saudi Arabia and the wider GCC region

Dubai’s Salik posts $626.2 million in revenue for 2024, 8.7 percent YoY increase

Revenue-generating trips reached 498.1 million for the year, up by 8 percent YoY

Saudi Arabia’s Aramco reports $106.2 billion net income for 2024

Company's board declared a base dividend of $21.1 billion for the fourth quarter of 2024, a 4.2 percent annual increase

Saxo Bank reports record-breaking 287 percent surge in profit to $146 million in 2024

Saxo Bank experienced sustained growth and reached a record of almost 1.3 million clients by the end of 2024

MENA startups raise $494 million across 58 deals in February, up 371 percent 

Startups in Saudi Arabia raised $250.3 million across 25 deals last month, leading the region in fundraising

Saudi Arabia leads GCC fixed income market growth, raising $79.5 billion through 79 issuances in 2024

UAE-based issuances ranked second, with $38.5 billion through 109 issues, representing 26 percent of the market

Türkiye’s inflation eases to 39.05 percent in February, raising rate cut bets

As inflation continues to decelerate, the central bank is widely expected to deliver another 250 basis-point cut this week

SC Ventures, Visa partner to support MENA region’s SME growth and innovation

Collaboration aims to provide SMEs with the solutions they need to support their long-term growth

Flynas, Bank AlJazira ink $132 million aircraft financing deal for 3 new Airbus A320 NEOs

More than 100 aircraft expected to be added in flynas fleet over the next five years

Jaywan, UAE’s first domestic card scheme to be activated locally and globally: CBUAE

Jaywan offers secure, efficient payments, reducing costs, supporting growth, and promoting inclusion

MENA M&A activity grows 7 percent to $92.3 billion in 2024: Report

The UAE reported the MENA region’s largest M&A deal of the year worth $12.4 billion

UAE’s February Islamic treasury sukuk auction attracts bids worth $1.93 billion

The success is reflected in the attractive market-driven prices, with a yield to maturity of 4.18 percent for the tranche maturing in August 2028

Egypt’s financial inclusion rate soars to 74.8 percent, 52 million citizens now use transaction accounts

This increase results from CBE's collaboration with banks and stakeholders for economic empowerment across society