International banks have been expanding in Saudi as the country embarks on a plan to diversify its economy beyond oil
The move was implemented as per the directives of the UAE President Sheikh Khalifa bin Zayed Al Nahyan
The insurer sold its stakes in Axa Gulf, Axa Cooperative Insurance Company and Axa Green Crescent Insurance Company to Gulf Insurance Group
The programme has helped banks avoid having to recognise credit as non-performing
The GCC governments’ measures to help corporates and individuals navigate the challenging environment have taken various forms
The new charter also formally changed the name of the central bank, from Saudi Arabian Monetary Authority to Saudi Central Bank
Over 50 per cent of all fintech businesses in the GCC now operate from DIFC
Gold suffered its second-biggest drop in seven years on the day that Pfizer announced early results showing its vaccine was 90 per cent effective
The advent of disruptive technologies may prompt futurists to predict the end of the traditional wealth management model
Few investments make a more compelling case than fintech in the current economic climate, opines entrepreneur and investor Shailesh Dash
Public Investment Fund and ADQ are weighing the purchase of Bausch Health’s Cairo-based drug unit
The awards acknowledged champions from across the region’s business spectrum
Abu Dhabi, Bahrain, Dubai and Riyadh named MENA’s top fintech ecosystems by Startup Genome
Dubai Islamic Bank is now the largest UAE-based sukuk issuer by value on Nasdaq Dubai with a total of $7.3bn listed on the exchange
The sultanate raised $500m in a tap of its bonds due in 2027 and 2032
The rule will be applicable from December 1, 2020, with businesses no longer requiring an Emirati sponsor
The world’s largest digital currency is in the midst of an exuberant rally this week
Xpressbees has a presence across more than 2,000 towns and cities in India
The sukuk will be used to help fund Acwa’s share of an $8bn acquisition of gasification and power assets at Jazan
The agreement enables Bank Hapoalim to access banking and innovation opportunities in the Middle East, Africa and South Asia through the DIFC platform
The VAT hike to 15 per cent, was implemented in July this year
Similar to wealth, wealth management has gone through layers of evolution to become a specialised investment advisory service
The agreement provides a framework for information sharing, and will facilitate the movement of startups and transfer of knowledge and talent
Aramco sold $8bn in tranches maturing in three, five, 10, 30 and 50 years
The fund intends to play a leading role in refocusing the economy toward underdeveloped industries
The TESS loan deferral programme has already benefited over 310,000 retail customers, nearly 10,000 SMEs and more than 1,500 private sector companies
The company ranked the sovereign AA- with a stable outlook
Relevant legal actions will be taken for non-compliance
A global health emergency and collapse in crude oil prices have ratcheted up the pressure to address the sector’s critical challenges: efficiency, agility and growth
The new plan, developed with US-based consultancy Mercer, will start next year