Dubai is bolstering its global fintech hub status. Here’s how
The success stories of Careem, Kitopi and Noon are fuelling Dubai’s startup ecosystem by enticing entrepreneurs to launch ventures of…
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Most GCC central banks raise interest rates tracking US Fed move
Central banks in the GCC have increased key interest rates after the US Federal Reserve (Fed) delivered its 10th consecutive…
Abu Dhabi’s Aldar Properties posts 22% jump in Q1 2023 profit
Abu Dhabi’s Aldar Properties posted a 22 per cent increase in Q1 2023 net profit to $228m (Dhs836m), driven by…
Qatar tech startup Snoonu raises $12mln in Qatar Development bank-led funding
Qatar’s fast-growing tech startup, Snoonu, announced the closing of its ‘Series B funding’ round with $12mn, making it the first…
Saudi’s SABIC Q1 profit plunges as sales prices, volumes fall
Saudi Basic Industries Corp has cited pressure on global sales prices as it reported a year-on-year (YoY) profit fall of…
Dubai’s TECOM Q1 net profit jumps 34%; beats estimate
Dubai business park operator TECOM Group posted a 34% rise in Q1 2023 net profit to 255 million dirhams ($69…
Dubai Islamic Bank to acquire 25% stake in Turkey digital bank
Dubai Islamic Bank, the UAE’s largest Islamic lender, said on Wednesday its board of directors has approved a proposal to…
UAE’s e& reports consolidated revenue of Dhs13bn in Q1 2023
UAE-based telecoms giant e& announced its consolidated financial results for Q1 2023, reporting consolidated revenues touched Dhs13bn. At constant…
Growth in Middle East, Central Asia to slow amid global challenges: IMF
Economic growth in the Middle East, North Africa and Central Asia regions will slow in 2023, underlining the need to…
UAE's mandatory job loss insurance scheme: 2 new employee categories added
The number of categories of employees who can subscribe to the UAE’s job loss scheme has been expanded, with the…
Wealth manager sets up shop in Dubai
Gulf Cooperation Council-based The Family Office has set up an operation in the Dubai International Financial Centre (DIFC) in the…
Bank Nizwa partners with Buna to offer seamless cross-border payments
Bank Nizwa has announced a partnership with Buna, a cross-border payment system fully owned by the Arab Monetary Fund. …