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Bank ABC approves $85m dividends for FY 2024Bahrain-based Bank ABC (Arab Banking Corporation) has announced that its board has secured approval from its shareholders for distribution of $85.1 million as dividends for FY 2024. This is approximately 30% of the group’s annual profits attributed More… |
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Expat remittances from GCC hit $132bn in 2023The total remittances of workers in the Gulf Cooperation Council (GCC) countries to foreign destinations amounted to $131.5 billion by the end of 2023, according to the latest data released by the GCC Statistical Centre. The volume of workers’ remittance More… |
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Loans extended by Bahrain banks increase 4.6% in 2024The outstanding balance of total loans and credit facilities extended to resident economic sectors by banks in Bahrain increased to BD12.3 billion ($32.62 billion) at the end of December 2024, an increase of 4.6% compared to the end of 2023. This was revealed More… |
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Forbes unveils Mideast Top 40 influential money movers listForbes Middle East has unveiled its Top 40 Asset Managers list, spotlighting the region’s most influential leaders shaping the investment landscape. Collectively, they managed more than $439 billion in assets in 2024, spanning local and internation More… |
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S&P raises Saudi Arabia ratings to 'A+'S&P Global Ratings has revised its long-term foreign and local currency unsolicited sovereign credit rating on Saudi Arabia to 'A+' from 'A'. At the same time, the agency affirmed the 'A-1' short-term foreign and local currenc More… |
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Burgan gets ISO certification for risk management strategyBurgan, a Kuwait-based conventional bank, has announced that it has received — Business Continuity Management Systems (BCMS) certification, ISO 22301:2019, attesting to the bank’s forward-thinking risk management and mitigation strategies and confirming its ability to uphold its o More… |
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Investcorp Capital buys portfolio of private market investmentsInvestcorp Capital, a major investor in private markets and alternative investment opportunities, has announced that it has acquired a major interest in a diversified portfolio of assets consisting of corporate investments, real assets and credit investments (The Portfolio) from the Investcor More… |
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RAK Properties 2024 revenue soars to $381m; profit up 39pcRAK Properties, a leading developer in the northern emirate of Ras Al Khaimah, has reported a 40% year-on-year revenue growth in 2024 which soared to AED1.4 billion ($381 million), up from AED1 billion ($272 million) the previous year. The announcement came du More… |
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Umm Al Qura IPO gets solid response from retail investorsSaudi-based Umm Al Qura for Development and Construction today (March 13) announced the successful completion of the offering period for retail investors for the company’s initial public offering (IPO). Umm Al Qura is the owner, developer and operator of More… |
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Saudi bank credit rises 15% to $801.44bnThe total bank credit granted to the public and private sectors in Saudi Arabia reached its highest level at SAR3,005.9 billion ($801.44 billion) by the end of January 2025, according to the monthly statistical bulletin issued by the Saudi Central Bank (SAMA) for January 2025. &n More… |
