Monday 22 April 2024

Beyon Money - Medical.BH partnership to benefit customers

Beyon Money, part of the Beyon Group, has announced a partnership with Medical.BH to benefit its customers who book and pay for health services using a Beyon Money card, with up to 5% unlimited cashback.    Beyon Money Classic Card users will receive 3% cas


Africa 'needs $277bn to mitigate climate crisis'

African Development Bank Group President Akinwumi Adesina has called for more urgent action as climate change continues to wreak havoc in many African countries, saying the continent needs $277 billion per year to face the challenge.   He was speaking at a high-


Kuwait’s banking sector witnesses robust growth in 2023

Kuwait’s banking sector witnessed healthy year-on-year growth, observing notable increase across multiple identified key performance indicators such as net provision charge on loans, capital adequacy ratio, and coverage ratio on stage 3 loans, according to top tax advisory firm KPMG.


Shuaa reaches deal with noteholders for bond term amendment

Shuaa Capital,  a leading asset management and investment banking platform in the region, has reached an agreement with its noteholders to facilitate the amendment of the terms of its outstanding $150 million bond, issued by a Shuaa-affiliated SPV.   As ann


Global economic growth set to slow to 2.6pc in 2024: UNCTAD

UN Trade and Development (UNCTAD) forecasts global economic growth to slow to 2.6% in 2024, just above the 2.5% threshold commonly associated with a recession.   This marks the third consecutive year of growth below the pre-pandemic rate, which averaged 3.2% bet


MoF launches 'digital public consultation' on R&D tax relief

The UAE Ministry of Finance (MoF) has launched a digital public consultation to gather the views of stakeholders on the potential implementation of a Research & Development (R&D) Tax Incentive under the UAE Corporate Tax law.   The consultation will be o


Fortis secures $20m in Series A funding round

Dubai-based Fortis, a retail tech and fintech solutions provider tailored for SMEs, has announced the successful completion of Series A funding round, raising $20 million in investment led by Opportunity Venture (Asia).    This funding marks a significant m


Saudi investment funds' assets surge to $33bn in Q4

The assets of local and foreign investment funds in the Saudi market totalled SR122.578 billion ($33 billion) at the end of the fourth quarter (Q4) of 2023, marking a 5% growth from the previous quarter.    Consequently, these funds had achieved an estimate


ADGM wins 'Most Trusted Financial Centre Brand’ award

Abu Dhabi Global Market (ADGM) has clinched the top spot as the "Most Trusted Financial Centre Brand, Middle East” for 2024 at the distinguished Global Brand Awards.   The esteemed Global Brand Awards, an annual ceremony organised by Global Brands Mag


Adnic acquires 51% of Allianz Saudi Arabia stake

Abu Dhabi National Insurance Company (Adnic), one of the leading regional multi-line insurance providers for both corporates and individuals, has completed the strategic acquisition of a 51% stake in Allianz Saudi Fransi Cooperative Insurance Company in Saudi Arabia. The acquisition wi

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