SABIC cuts capital expenditure after Q1 losses
Saudi Basic Industries Corporation suspended most of its capital expenditure after recording losses of SR950 million ($203.9 million) in the…
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Qalaa Holdings moves to losses in 2019
Qalaa Holdings announced turning to losses during 2019, the consolidated financial statements showed. The company incurred net losses of…
Gold is well-positioned as a hedge against inflation risk from expansionary fiscal and monetary policies
Weakening of US dollar could increase demand for gold in other currencies “Against a global backdrop characterised by risk…
Coronavirus: UAE Higher Sharia Authority approves COVID-19 parameters
The Higher Sharia Authority for financial and banking activities in the UAE held its second meeting of 2020 on April…
Thomson Reuters Enhances Strategic Partnership with Path Solutions for ONESOURCE Centralized Tax Solution
Thomson Reuters have enhanced their existing partnership to provide the GCC’s financial services sector with an opportunity to introduce automation,…
Virus may force Kuwait Finance and Bahrain’s AUB to reassess merger
One of the Middle East’s rare cross-border bank mergers may need to be reassessed after the coronavirus delayed the formation…
TISE listing is a first for ADGM funds industry
The International Stock Exchange has become home to the first fund established in the Abu Dhabi Global Market to be…
Fitch places two Egyptian banks on rating watch negative
Fitch has placed Egypt’s Commercial International Bank long-term issuer default rating, viability rating, national ratings and National Bank of Egypt's …
Al-Jadaan reveals full extent of Saudi Arabia’s pandemic challenge
Mohammed Al-Jadaan, Saudi Arabia’s finance minister, has revealed the full scale of the challenges that face the Kingdom from the…
Egyptian bank enters region through Kenya
Commercial International Bank, Egypt’s largest private sector lender by assets, is targeting more buyouts in East Africa after completing acquisition…
LOOMING RECESSION: Difficult times ahead, Okonjo-Iweala warns
A former Minister of Finance and erstwhile Managing Director of the World Bank, Dr Ngozi Okonjo-Iweala, warns of difficult times…
Saudi fiscal adjustment preferable to a devaluation
A currency devaluation would be too costly for Saudi Arabia and the better option is to adapt to the oil…