Saudi PIF aims to invest $5bn in Oman
Saudi Arabia’s Public Investment Fund is planning to invest SR18.7 billion ($5 billion) in Oman, according to a statement from…
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Final phase of pay protection plan set in Bahrain
The final phase of the Wage Protection System – under which employers have to compulsorily transfer salaries of staff into…
CBE signs protocol to link ‘Nafeza’ customs platform with banking system
This step is in line with the state's direction to implement the Advanced Cargo Information system, which aims to improve…
Medallia names New Metrics a consulting partner for Saudi market
International software provider Medallia has named New Metrics a consulting partner for the Saudi market. Founded in 2002 in…
Takaful insurance to make debut in Iran
Iran will launch limited takaful insurance services for the first time after finance minister Ehsan Khandouzi said that there is…
Egypt's sovereign fund aims to increase its investment portfolio to $1.5bn
Egypt's sovereign fund aims to increase its investment portfolio in 2022 to 23 billion Egyptian pounds ($1.5 billion) between managed,…
Moon capital Partners Master Fund cuts stake in EKH
Moon Capital Partners Master Fund Ltd has cut its stake in Egyptian Kuwaiti Holding (EKH) (EKHO) to 4.8% from 5.52%,…
UniCredit wins Turkish regulator approval to sell Yapı Kredi stake
Italy’s UniCredit won approval from Turkey’s banking regulator to sell its remaining stake in local bank Yapı Kredi to partner…
UAE's weekend change: Banks and insurance companies set to be among first to switch
The UAE’s banking and insurance sectors should be among the first to move to the new workday and weekend change…
Middle East Banks' Earnings Pressure Unlikely to Abate Before 2023
Fitch Ratings' 2022 sector outlook for Middle East (ME) banks is neutral, reflecting a modest expected economic recovery. Credit growth…
Stable capital at GCC Islamic banks in 2022: Fitch
The 2022 sector outlook for GCC Islamic banks is neutral, reflecting a modest economic recovery and higher oil prices, said…
UAE working week changes to create ‘steady influx of new wealth’
The United Arab Emirates will transition to a four-and-a-half-day working week, with Friday afternoon, Saturday and Sunday forming the new…