07/29/2022
Capital Bank achieves half-year profits of JD 60.2mln
An Increase of 40%, which is Equal to Total Profits from 2021
Alternative Investments
07/29/2022
ADNOC Distribution to acquire a 50% stake in TotalEnergies’ fuel retail, aviation and lubricants business in Egypt
$203 million investment is the largest in ADNOC Distribution’s history
07/28/2022
Saudi lender Arab National Bank reports higher H1 profit of $360m
Founded in 1979, Riyadh-based Arab National Bank is one of the ten largest in the Middle East, operating through 156 branches in the Kingdom.
07/27/2022
Saudi Arabia received $5.5bln in Chinese BRI investments in H1-2022
Iraq remained the third most important partner in the BRI for energy engagement
07/27/2022
IMF says Egypt needs progress on fiscal and structural reform
The IMF's executive board noted "Egypt's remaining vulnerability from a high public debt burden and large gross financing requirements"
07/27/2022
Saudi SAMA: Insurance companies must settle third party claims within 5 days if amount is below $534
The Central Bank updated the model form for compulsory insurance claims for third party vehicles, indicating that submission of application in the updated model would come into force from the middle of August
07/27/2022
In Dubai, residents find rent renewals offer cheaper option in H1-2022
Renting new premises turns difficult as apartment asking rates climb near 30%
07/27/2022
RAKBank reports 60% increase in Q2 net income as bad loans drop and interest income rise
Group remains focused on growth in corporate, business and retail banking segments amid continued economic growth momentum in the UAE
07/25/2022
QFC report reveals investor confidence in Qatar’s flourishing digital sector
A total of 48 countries were represented by the firms registered with the QFC from 1 January to 30 June 2022
07/25/2022
Dubai billionaire to build Africa’s tallest building in Zimbabwe
The $500mln Zim Cyber City is a mixed-use hi-tech park on the outskirts of Harare being developed by UAE-based Mulk International
07/25/2022
Markaz report forecasts positive outlook for Kuwait real estate sector after modest rebound in H1 2022
On the back of high oil prices and recovery in non-oil activity that signal sustained acceleration in national economy despite rising inflation
07/25/2022
Abu Dhabi records over AED 22.5bln total of real estate transactions in first half of 2022
Confidence among investors indicates the market's attractiveness and a sustainable growth trajectory
07/25/2022
EFG Hermes successfully concludes advisory on Orascom Development Egypt’s flagship project “O West” EGP1.5bln financing
The financing of O West will help accelerate the construction of the launched phases allowing it to commence unit deliveries in Q1 2023
07/22/2022
Luxury stores hold premium space in Middle East retail sector
The Kingdom is on top of the agenda for many brands.
07/22/2022
Kuwait sovereign wealth fund fires head of London office
Saleh al-Ateeqi’s tenure at secretive investor characterised by high staff turnover and legal battles with former employees
07/22/2022
Watch: On gold imports, UAE to bring tough rules on sourcing
Effective Jan. 2023, rules outline what related businesses need to do on gold shipments
07/22/2022
Prince Alwaleed's Kingdom Holding invests $268m in Europe's M&G
Riyadh company is focusing on investments in 'global market leaders'
07/21/2022
Saudi Arabia leads GCC with 77% growth in project contract awards in Q2
MEED previously reported that three out of the ten big projects awarded in the Kingdom were for the NEOM project.
07/21/2022
Moody’s expects Saudi economy to grow an average of 3.9% for next four years
Some of the challenges faced by Saudi Arabia include its high economic and fiscal exposure to declines in global oil demand and prices, longer-term risks stemming from the global carbon transition and challenges posed by elevated unemployment, the report
07/21/2022
National Bank of Kuwait reports net profit of KD 237.8mln for the first half of 2022
NBK continued its growth momentum buoyed by the economic recovery and normalization of business activities