China crypto clampdown sends bitcoin closer to key $30,000 level

Bitcoin has roughly halved from a record of $65,000 in mid-April

Mubadala-backed Dubai fintech startup loads up on debt financing

Tabby has raised more than $30m in funding from local and global investors

Yahsat eyes first Abu Dhabi IPO since 2017

The satellite operator plans to list a stake of as much as 40 per cent next month

Antoun Massaad is the CEO of Cedar Rose

How businesses in the MENA region can enhance their due diligence processes

Adequate due diligence can help prevent businesses from facing potential financial and reputational losses through their association with untrustworthy entities, says Antoun Massaad, CEO of Cedar Rose

New giant Saudi pension fund aims to crack world’s top 10 ranks

Saudi Arabia has been taking steps to merge and restructure various entities as it looks to boost efficiency

UAE’s Emirates Development Bank allocates Dhs30m to finance SMEs through Beehive platform

The Beehive platform uses crowdfunding technology to connect SMEs seeking finance with investors who can support their finance request

Wealth management 2.0: How has the regional landscape evolved

Wealth management has gone through layers of disruption to morph into its current advisory form

Saudi Arabia to form entity with $29bn in equity holdings

The funds hold significant stakes in Saudi Arabian firms

Commercial Bank of Dubai Network International

Commercial Bank of Dubai partners with Network International for pre-approved business loans

CBD will offer business loans to Network’s retail and ecommerce clients against their Point of Sale machines or payment gateway proceeds

Nasdaq Dubai Indonesia Government

Indonesian government lists three sukuk valued at $3bn on Nasdaq Dubai

The total value of all sukuk listed by the Indonesian government on the exchange now stands at $19.75bn

Kuwait

Kuwait hasn’t renewed wealth fund’s board since term expired

Its board is appointed by royal decree for a four-year term and members can be reappointed

Dubai’s Damac appoints new chairman, forms committee to assess Sajwani’s offer

Hussain Sajwani resigned as its chairman last week after his investment firm offered to acquire 100 per cent of Damac

Bitcoin reaches highest level since May as chartists eye $50,000

Cryptocurrencies have been under pressure in recent weeks, with Bitcoin losing about 30 per cent since mid-April

Malabar Gold & Diamonds Nasdaq Dubai

Malabar Gold & Diamonds joins Nasdaq Dubai’s Private Market

Malabar Gold & Diamonds currently generates an annual turnover of $4.51bn through a network of over 260 outlets and 14 wholesale units

Saudi non-oil economy rebounded to 2.9% growth in first quarter

In the first quarter, Saudi Arabia’s non-oil economy grew at its fastest pace since 2019

Saudi wealth fund makes senior hires, including Goldman banker

Goldman banker Eyas AlDossari will head investment advisory within the MENA Investments Division of the fund

Saudi wealth fund PIF leads investment in $800m Middle East infrastructure fund

Aberdeen and Investcorp announced the fund two years ago with a view to channel investment into the Middle East’s health care, education and utilities industries

Bal Krishen CEO and chairman Century Financial

Cover story: Why the chairman of UAE’s Century Financial feels its all about the journey, not the destination

It’s not just the view at the top that the company’s chairman and CEO Bal Krishen enjoys, but also the journey of reaching there

Emirates Development Bank

Abu Dhabi’s Emirates Development Bank closes $750m five-year bond

This was the second USD transaction issued under EDB’s $3bn Euro Medium Term Note programme

Emirates-NBD

Emirates NBD lists $750m bond on Nasdaq Dubai

Emirates NBD the largest financial services bond issuer on Nasdaq Dubai through seven listings with a total value of $5.1bn

Saudi wealth fund appoints deputy governors to spur growth

The PIF has made several high-profile investments in recent years

ADIB partners with Visa to unveil UAE’s first biometric authentication solution for e-commerce

Once implemented, ADIB customers can authenticate their e-commerce transactions by using their mobile application biometric authentication

Saudi Aramco

Aramco starts debut sale of dollar-denominated Islamic bonds

The firm is raising cash to help finance its plans to pay out $75bn in dividends

UAE reports 2,205 Covid-19 cases, 2 deaths

The nationwide case count has risen to 587,244

UAE Central Bank unveils portal to anonymously report misconduct

The CBUAE said that anyone can voice their concerns around misconduct without any fear of reprisals

Oman is planning a second debt sale in 2021 with dollar sukuk

Oman successfully tapped the international debt market in January, raising $3.25bn

Shailesh Dash

How investing in big tech stocks can counter market volatility

Tech growth stocks continue to offer opportunities for investors due to their strong future potential, states entrepreneur and investor Shailesh Dash

Dubai-based Opontia raises $20m to acquire MENA e-commerce brands

Opontia was launched in March 2021

UAE federal bank planning second-ever sale of dollar debt

The money would go toward supporting companies in sectors considered a priority for the economy

UAE startup Pawame secures $2.5m, launches $5m Series A round for expansion in Africa

Pawame offers a portfolio of solar home systems in remote areas of Kenya on a micro-financed basis