Wednesday 30 November 2022

Middle East represents a rare ‘bright spot’ for M&A

In terms of dealmaking, the Middle East represents a rare ‘bright spot’ supported by government initiatives, strong GDP growth forecast and attractive risk-adjusted returns, said a report.   An overall increase in the LPCI from 6.2x to 6.6x, reflect


Region outlook ‘positive for investment banking’

The region offers a positive and transformational environment for corporate and investment banking, which accounts for about 70% of assets in the GCC amid hopes for the economy and huge private and public sector spending, said an industry expert. Philippe DeBacker, Managing Partn


SwissBorg enters the UAE to redesign the banks of the future

SwissBorg, Europe’s leading cryptocurrency wealth management app, has launched in the UAE, to offer the safest and easiest app to invest and earn interest on assets through Web 3.0.    The award-winning app’s formula for mass adoption is two-fol


China’s GBA presents great investment potential: Investcorp

China’s Greater Bay Area (GBA) boasts a significant number of innovative, growing and profitable private enterprises which together comprise what is referred to as the ‘Factory of the World’ and present great investment potential.   China is ai


Rassanah assigns Shariyah Review Bureau for funds compliance

Saudi-based Rassanah Capital, the latest investment firm having secured licence this year, has assigned Shariyah Review Bureau (SRB) to supervise its compliance requirements.   Aligning to the kingdom’s Vision 2030 and the Islamic finance strategy mapped o


Bybit offers $100m support fund for institutional clients

Bybit, the world’s third most visited crypto exchange, has announced the launch of a $100 million support fund to shore up institutional market makers during this challenging period in the crypto industry.   The fund will offer a helping hand to Bybit&rsqu


GCC banks post interest income of $18.6bn in Q3: Kamco

Net interest income for listed banks in the GCC reached a record quarterly level at $18.6 billion during the third quarter (Q3) of 2022 compared to $17.2 billion during Q2-2022, a report said. The sequential increase was broad-based and was seen across the GCC, added Kuwait-based


King Abdullah Financial District wins procurement excellence award

King Abdullah Financial District Development & Management Company (KAFD DMC) has won the Procurement Excellence programme from the Chartered Institute of Procurement & Supply (CIPS) for its prime development King Abdullah Financial District (KAFD), a major business and lifestyle desti


Bahrain's improved credit rating supports the budget: BAB

The Bahrain Association of Banks (BAB) has said that Standard & Poor's revised Bahrain's outlook from stable to positive, boosting the kingdom's financial reputation. It also lowers the cost of public debt while increasing investor confidence in the national economy. 


Wamid acquires 51% stake in DirectFN for $35.7m

Tadawul Advanced Solutions Company Wamid has signed a sale and purchase agreement with National 2 Ventures (N2V) to acquire 51% of the issued share capital in Direct Financial Network Company (DirectFN). The final acquisition price was SR133.9 million ($35.7 million).

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