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FinTech

UAE's Network International to acquire African payments' firm DPO

July 30, 2020

Dubai headquartered-Network International has announced it will acquire African-based technology-enabled payments enabler DPO Group for $288 million.    The acquisition…

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Financial Results

Metlife Gulf releases its 2020 Claims report

July 30, 2020

MetLife Gulf recently released its latest claims report, underlining its continued support for its customers through its enhanced claims program,…

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Executive Moves

DGCX appoints Abdullah Harmoozi as Head of Outreach & Engagement

July 30, 2020

The Dubai Gold and Commodities Exchange has appointed, Abdullah Harmoozi, as Head of Outreach & Engagement. In his new role,…

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Financial Results

Goldman Sachs hikes 12-month gold price forecast to $2,300

July 30, 2020

Goldman Sachs on Tuesday raised its 12-month gold price forecast to $2,300 per troy ounce (toz), aided by expectations of…

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Hedge Funds & Alternative Investments

Apex Dubai Expands Relationship with ENBD REIT

July 29, 2020

Apex Group Ltd. has announces its appointment by ENBD REIT (CEIC) PLC (“ENBD REIT”) to provide property-level accounting and reporting…

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Coronavirus

Gulf banks are weathering the pandemic storm — for now

July 29, 2020

A shiver went through the UAE’s financial community last week when Emirates NDB, the champion of the Dubai banking business…

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Comment & Analysis

First Abu Dhabi Bank raises impairments to Dh1.06b

July 29, 2020

Abu Dhabi’s biggest lender joined its regional Gulf competitors in setting aside higher provisions to cover a spike in bad…

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Comment & Analysis

MENA fund managers to increase Saudi investments with eye to recovery: Reuters poll

July 29, 2020

Middle Eastern fund managers plan to increase investments in Saudi Arabia in the current quarter, according to a Reuters poll,…

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Comment & Analysis

Global sukuk issuances up 18% to reach $145.70bn in 2019

July 29, 2020

Global sukuk issuances rose 18 per cent to reach $145.70 billion (Dh535bn) in 2019 as the governments and private companies…

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Comment & Analysis

M&A benefits the Saudi banking sector

July 29, 2020

Last year two local banks (SABB and Alawwal bank) legally completed their historic merger. It was a transformational event for…

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Financial Results

FAB Q2 net income slides as provision charges rise

July 29, 2020

First Abu Dhabi Bank, the UAE’s largest lender by assets, reported a 25 per cent drop in its second quarter…

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FinTech

Dubai’s Department of Economic Development Launches UAE KYC Blockchain Platform

July 29, 2020

Dubai Economy (Dubai Department of Economic Development or DED) and Emirates NBD, a leading banking group in the MENAT region…

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