google

Coinbase stock rises after adding Google partnership on payment, cloud

Google will use Coinbase Prime for institutional crypto services, such as custody and reporting

Credit Suisse

Credit Suisse facing $8bn capital shortfall, Goldman says

Speculation about the Swiss lender’s health has rocked its shares this year

CEO of UAE’s digital bank Zand steps down

The bank’s board is expected to announce a new CEO shortly

UAE Federal Tax Authority to launch new integrated platform ‘EmaraTax’

UAE Federal Tax Authority to launch new integrated platform ‘EmaraTax’

EmaraTax will enhance the way that taxpayers can access the FTA’s services, pay their taxes and obtain refunds

DIFC Courts launches tejouri

Gitex Global 2022: DIFC Courts launches global digital vault ‘tejouri’

The new digital vault will enable the upload and secure storing of insurance contracts, title deeds, wills and financial certificates

Abu Dhabi Islamic Bank launches ‘small business finance’ to support SMEs

The lender aims to offer a financing solution up to Dhs1.5m to support developing needs of businesses

UAE Cabinet approves federal budget 2023-26 courtesy WAM

UAE Cabinet approves 2023-2026 federal budget, with total expenditure of Dhs252.3bn

Social development and benefits represent the largest proportion of the country’s federal budget 2023 at 39.3 per cent

IHC invests in Lulo Bank Colombia

Abu Dhabi’s IHC expands into Latin America, invests $200m in Lulo Colombia

Colombia is the fourth global market which IHC has expanded its investment activities into this year after the UK, India, and Turkey

Healthcare provider Burjeel soars in debut of scaled-down IPO

Burjeel Holdings rose 20 per cent to almost Dhs2.4 in Abu Dhabi

Gold is heading East as a falling price lures Asian buyers

Since peaking in March, gold prices have tumbled 18 per cent as the Federal Reserve’s rate hikes caused mass liquidation by financial investors

Saudi utility Marafiq seeks to raise $897m in share sale

Book-building for Marafiq’s IPO opens on Sunday and lasts until October 14, followed by a retail offering from October 26-29

Saudi Arabia's Public Investment Fund issues green bond

Saudi Arabia’s Public Investment Fund raises $3bn via inaugural green bond

The bond was more than eight times oversubscribed, with orders exceeding $24bn

Oman Insurance company rebrands itself as Sukoon

Oman Insurance unveils new corporate logo, rebrands as Sukoon

The new brandmark represents two human hands coming together, depicting a sense of security and protection for customers

Gold set for largest weekly gain since March amid mixed US data

The precious metal crossed the $1,700 mark this week

ADIB UTC partnership

ADIB joins e& enterprise blockchain platform UAE Trade Connect

ADIB will use the UAE Trade Connect platform to detect fraud and dubious transactions in the trade finance area

Binance growth rate in MENA

Binance sees 49% YTD rise in new users in MENA region 

Binance recently obtained a minimal viable product license from Dubai’s Virtual Asset Regulatory Authority to offer approved virtual asset-related services

Abu Dhabi Securities Exchange adds stock futures to derivatives market

Abu Dhabi Securities Exchange adds five single stock futures to derivatives market

From October 6, stock futures on Abu Dhabi Islamic Bank, Abu Dhabi Commercial Bank, Fertiglobe, Borouge and AD Ports will be available for trading on the derivatives market

Bitcoin rally loses momentum as expectations for Fed shift eases

Bitcoin, the largest digital coin by market value, dipped as much as 2.9 per cent on Wednesday

Mashreq, Anghami sign strategic partnership

Mashreq, Anghami announce regional strategic partnership

The partnership will see Anghami produce an exclusive podcast for Mashreq’s Brand Campaign “Rise Everyday” and offer the bank’s customers access to its content catalogue

Saudi Arabia

IMF to establish regional office in Riyadh

The fund’s managing director said that the office will ‘spearhead engagement with regional institutions and strengthen relationships with country authorities’.

ADGM launches Abu Dhabi Finance Week

Abu Dhabi Global Market, ADDED announce inaugural edition of Abu Dhabi Finance Week 2022

Abu Dhabi Finance Week, which is set to run between November 14-18, will bring together global market leaders in financial technology, asset management and capital markets

Gold extends last week’s advance with dollar surge cooling

Spot gold advanced 0.2 per cent to $1,664.09 an ounce as of 8.03am in Singapore

stock markets

IHC subsidiary International Securities launches global trading platform

Through the launch of this new trading platform, International Securities is expected to double its customer base over the next 18 months

Salik

Dubai’s Salik soars in trading debut after huge IPO order book

The Middle East has been one of the most active IPO markets in 2022

Oman

Oman seeks to deepen capital markets with eye on Gulf IPO boom

Oman and Bahrain are the only countries in the GCC not classified as emerging markets by MSCI

ADX-MSX MoU_oman

UAE’s ADX, Muscat Securities Market sign MoU to enhance cooperation

The agreement aims to enhance bilateral cooperation and information sharing in a number of areas, including advisory services, and training and development of systems

Tabby, Paymob partner

Tabby, Paymob collaborate to boost growth among retailers in Egypt

Businesses across Paymob’s network will benefit from Tabby’s ‘split into four’ interest and fee-free payment solution via Paymob’s gateway

Further Ventures to support startups

Further Ventures launches $200m fund, backed by Abu Dhabi’s ADQ  

Further will partner with entrepreneurs, as an institutional co-founder, to launch and grow new ventures from ideation to exit

ADGM's FSRA amends capital markets framework

ADGM’s FSRA amends capital markets framework to bolster investment activities

The changes, first proposed in March, received a significant and supportive response from the industry and wider stakeholders

amana_CEO_Muhammad Rasoul

Neo broker amana launches trading app, offers access to regional and global markets

The platform offers stocks, commodities, ETFs, currencies and crypto among other assets through the app