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Mashreq's net profit soars 25% to $544.5m in Q1Dubai-based Mashreq's net profit soared to AED2 billion ($544.54 million) in the first quarter of 2024, marking a substantial 25% increase year-on-year, the bank said. It said the results are despite the new 9% corporate tax imposed from January 1, 2024. More… |
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Rawabi Holding raises $320m in record sukuk issuanceRawabi Holding Company has concluded its largest ever Saudi Riyal-denominated Sukuk issuance for SAR 1.2 billion ($320 million), further cementing its position as a dominant catalyst in Saudi financial markets. Led by strong market demand, the landmark issuance surpasses the Company&rs More… |
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Abu Dhabi issues $5bn USD-denominated bondsThe UAE emirate of Abu Dhabi has issued $5 billion USD-denominated bonds across three maturity periods, Abu Dhabi’s Department of Finance (DoF) has announced. The issuance successfully attracted strong investor demand and underpinned the emirate's co More… |
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Emirates NBD Q1 profit surges 67% to record $1.82bnEmirates NBD’s profit surged 67% to a record AED6.7 billion ($1.82 billion) in the first quarter of 2024 compared to the previous quarter and up a strong 12% y-o-y, propelled by regional growth, increased transaction volumes, a low-cost funding base and substantial impaired loan recover More… |
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Dubai FinTech Summit to take place on May 6Dubai will host the second edition of Dubai FinTech Summit from May 6-7 at Madinat Jumeirah, bringing together 8,000 decision-makers, over 300 thought leaders and more than 200 exhibitors to discuss the latest innovations and challenges, and showcase cutting-edge technologies, a report said. More… |
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IMF launches new regional office in Saudi ArabiaThe International Monetary Fund (IMF) will open a new regional office in Riyadh, Saudi Arabia (KSA) to enhance the partnership with countries in the Middle East and beyond. The new office will scale up capacity building, regional surveillance, and outrea More… |
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Saudi’s Fakeeh Care Group to float 21.47pc stake through IPOSaudi Arabia's Fakeeh Care Group, one of the largest private hospital groups in the kingdom, has said it planned to proceed with an initial public offering (IPO) through the sale of a 21.47% stake in existing and new shares. The family-owned business, with More… |
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ADGM and Hacken tie up to elevate blockchain securityAbu Dhabi Global Market (ADGM) and Hacken, a global leader in blockchain security auditing, have signed a Memorandum of Understanding (MoU) to jointly set new benchmarks for blockchain security and compliance. This partnership reflects a unique synergy b More… |
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Al Mal Capital REIT completes $49m rights issueAl Mal Capital REIT, the first REIT listed on DFM and managed by Al Mal Capital, a subsidiary of Dubai Investments, has announced the successful completion of its recent rights issue, generating AED180 million ($49 million) in fund raise. This exercise h More… |
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ADQ acquires 49pc stake in Plenary GroupADQ, an Abu Dhabi-based investment and holding company, will acquire a 49% stake in Plenary Group, a leading independent investor, developer and manager of public-private infrastructure projects headquartered in Australia. The partnership aims at expediting the expansion of public and social More… |
