Riyadh set to be epicenter for hyperloop technology
High-speed hyperloop technology will be one of the key components in Saudi Crown Prince Mohammed bin Salman’s ambitions to turn…
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Neue Privat Bank Forges Alliance in Middle East
Neue Privat Bank is teaming up with a Cypriot investment firm and is about to enter a completely new market.…
How will foreign ownership rules impact the UAE advice market?
In November 2020, the UAE passed legislation to allow foreign investors complete ownership of a business. Previously, foreign nationals…
RAKBANK reports net profit of AED 505.4 million for 2020
RAKBANK’s Total Assets declined by 7.6% during 2020 mainly due to reduced loan demand Gross Loans and Advances stood at…
FAB appoints Head of International Banking
First Abu Dhabi Bank has appointed Clarence Singam-Zhou to the newly created role of Head of International Banking, subject to…
‘Overbanked’ Qatari market could benefit from more consolidation: Fitch
Credit ratings agency Fitch has described the Qatari market as “overbanked,” and believes that lenders in the country could do…
CBUAE appoints vice governor
In line with the Central Bank of the UAE has strategic vision, we have set our sights on becoming one…
DFSA suspends licence of Red Spear Capital Limited
The Dubai Financial Services Authority has announced that it has suspended the licence of Red Spear Capital Limited (Red Spear)…
Abu Dhabi pension fund to acquire 31% stake in ADNOC property vehicle for $900mln
Abu Dhabi National Oil Company (ADNOC) said Tuesday that Abu Dhabi Pension Fund would acquire 31 percent of the energy…
Dubai investment firm has licence suspended
The Dubai Financial Services Authority (DFSA) has suspended the licence of Red Spear Capital (DIFC) for a period of 12…
Qatar’s booming deals market aids recovery of retail businesses
Qatar’s booming deals market, wherein consumers are able to purchase goods and services at discounted prices or with buy-one-get-one-free (BOGOF)…
JoPACC launches platform to facilitate safe and secure payments
New system to enable banks and other financial entities to securely share information to support customer engagement applications and deliver…