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Private credit best asset class for firm says MubadalaPrivate credit has been the best-performing asset class for Mubadala Investment Company for three years in a row, according to the Abu Dhabi sovereign wealth fund’s deputy group chief executive officer. “We’ve been able to manage that well an More… |
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UAE banking assets climb 1.3% to $1.19trillion in OctoberThe Central Bank of the UAE (CBUAE) has revealed that the country's gross banking assets, including bankers’ acceptances, increased 1.3% from AED4.4 trillion ($1.198 trillion) at the end of September 2024 to exceed AED4.456 trillion at the end of October 2024. More… |
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Mashreq expands corporate banking footprint to OmanMashreq, one of the leading financial institutions in the MENA region, has announced its entry into Oman, seeking to strengthen its position with a range of personalised financial services tailored for the Sultanate’s evolving corporate and public sectors. More… |
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Billionaire wealth surges by $2 trillion in 2024Billionaire wealth grew by $2 trillion in 2024 alone, equivalent to roughly $5.7 billion a day, at a rate three times faster than the year before, according to a new report from Oxfam. An average of nearly four new billionaires were minted every week in 2024. More… |
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Award-winning financial platform Daleel enters UAEDaleel, a personalised financial marketplace, has announced its expansion into the UAE. Daleel, which was founded in Bahrain, has seen unprecedented success and popularity in its home fintech market, seamlessly bridging the gap between customers and fina More… |
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Invest Qatar Pavilion to debut at World Economic Forum in DavosInvest Qatar has announced the launch of the inaugural “Invest Qatar Pavilion” at the World Economic Forum Annual Meeting 2025 in Davos, Switzerland. The pavilion at the forum, from January 20 to 24, will showcase Qatar’s dynamic business eco More… |
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Saudi House pavilion to debut at WEF in DavosSaudi Arabia has announced the first Saudi House pavilion for the World Economic Forum (WEF) Annual Meeting, which takes place from January 20 to 24 in Davos, Switzerland. It will be the second time Saudi House features at the WEF Annual Meeting, and the More… |
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Qatari bank Dukhan posts record $356m net profit for FY2024Dukhan Bank, one of the leading financial institutions in Qatar, has achieved a record net profit of QAR1.34 billion ($356 million) for FY 2024, thus reflecting a 3% annual growth. Announcing the results for the year ended December 31, Dukhan Bank said its hig More… |
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Burgan Bank to acquire Bahrain's United Gulf BankBurgan Bank, a Kuwait-based conventional bank, has signed of a share purchase agreement (SPA) to acquire 100% stake in United Gulf Bank (UGB), a wholesale bank licensed and headquartered in Bahrain, from United Gulf Holding Company (UGH) for $190 million. More… |
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GCC economy will stay resilient this year: StanChartThe Gulf Cooperation Council (GCC) is expected to remain a bright spot for global growth in 2025, according to a Standard Chartered report. Despite a projected slowdown in global growth to 3.1% from 3.2%, the GCC is expected to outperform, driven by resilient More… |
