Saudi Arabia’s SABIC reports 84% surge in net profit to $564m
Petrochemical giant Saudi Basic Industries Corp. saw an 84 percent year-on-year surge in net profit to SR2.18 billion ($564 million)…
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Global ESG sukuk market shows strong growth in early 2024; Q3 slowdown expected: Fitch
The global environmental, social, and governance sukuk market saw significant growth in the first half of 2024 – rising 41…
Gross banks’ assets saw $113.8bln YoY increase in May 2024: CBUAE
Gross banks’ assets, including bankers’ acceptances, rose by over 10.8 percent year-on-year (YoY), equivalent to AED418.1 billion, reaching AED4.287 trillion,…
AESG signals focus on raising the levels of compliance with environmental sustainability with appointment of new Regional Director of Environment
Brent Ridgard, an accomplished environmental and sustainability professional with over 25 years’ experience, will lead AESG’s Environment Division in the…
Gulf Insurance Group shareholders approve new Board formation
Gulf Insurance Group has announced the formation of a new Board, which comprises the current Directors representing majority shareholder, Fairfax…
The CBUAE and Dubai Courts sign MoU
The Central Bank of the UAE and the Dubai Courts have signed a Memorandum of Understanding aimed at linking electronic…
CBD launches core banking services for virtual asset service providers
Commercial Bank of DubaiCommercial Bank of Dubai, CBD has launched dedicated accounts for Virtual Asset Service Providers (VASPs) to manage…
Qatar Central Bank maintains current interest rates
Qatar Central Bank (QCB) on Wednesday, July 31, assessed the current monetary requirements of the State of Qatar and decided…
Finastra and Tech Mahindra sign strategic partnership to accelerate digital transformation for corporate banks
Tech Mahindra has announced a strategic partnership with Finastra, a global provider of financial software applications and marketplaces, to help…
Saudi Arabia’s foreign assets rise 5.5 percent to $467.5 billion in June 2024
Saudi Arabia’s foreign reserve assets increased by 5.5 percent in June 2024, reaching SAR1.754 trillion ($467.5 billion). This compares to…
India and the UAE lead globally in adoption of AI and Gen AI
When it comes to the use of artificial intelligence (AI) in business, India and the UAE take the prize for…
Turks eye property investments abroad as domestic market loses appeal
Traditionally fond of real estate investment, Turks are turning their attention increasingly to buying property abroad in response to surging…