UAE banks' profits deteriorate; bad loans likely to go up
Profits of UAE’s top banks continued to deteriorate in the second quarter of the year as interest rates and credit…
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Abu Dhabi’s Etihad and El Al Israel sign MoU to cooperate on codeshare and loyalty programme
Etihad Airways, the national airline of the UAE, and El Al Israel Airlines, the national carrier of Israel, signed an…
UAE’s Fruitful Day raises over Dhs3m to fund expansion
UAE-based fresh food delivery company Fruitful Day, has raised more than Dhs3m in investments, over two consecutive rounds of financing…
Saudi Aramco targeted by climate action investor group
Climate Action 100+, a leading investor group pushing corporations to act on climate change, has added Saudi Aramco to its…
Kuwait International Bank sells $300 million sukuk: Document
Kuwait International Bank sold $300 million Tier 2 sukuk, or Islamic bonds, on Tuesday at 2.375% and received more than…
Turkey hikes rates to rescue lira
Turkey’s central bank hiked interest rates on Thursday to support its battered currency. The regulator raised its benchmark rate…
Oman Arab Bank launches debt exemption initiative for defaulting borrowers
On the occasion of the 50th National Day, Oman Arab Bank (OAB) has written off over 150 defaulting loans. This…
Online portal for UAE economic substance regulation notification
The United Arab Emirates authorities have confirmed that notifications and annual reports due under its new Economic Substance Regulations (ESRs)…
Stanhope Financial cash boost gives SMEs tier one global banking services
Stanhope Financial Group, a new fintech company has today launched as the world’s first combined tier one banking services provider…
Aldar launches Noya on Yas island
AED 940 million development open to all nationalities Sales kick off on November 22 Aldar Properties has announced the launch…
Global debt on track to exceed $277trln in 2020 – IIF
The global debt load has increased by $15 trillion in the first three quarters of 2020 and now stands above…
‘100% renewable energy’ luxury resort in Saudi Arabia will use 1,000MWh battery storage system
A tourism development in Saudi Arabia which will have its own international airport and hopes to attract over a million…