The kingdom unveiled a second $13.3bn stimulus package to protect lenders against an expected drop in profits and rise in bad loans
The programme will support and train 1,300 women entrepreneurs through a series of virtual training sessions
The latest listing raises the total value of sukuk listed in Dubai to $69.29bn
These will be perpetual contracts that are automatically rolled over at the close of the trading day if an open position still exists
This year, Oman trimmed its budget expenditure and announced liquidity support in an effort to provide some relief from the Covid-19 shock
The $232bn fund is looking at India, China and Southeast Asia for potential investments
UAE-based Finance House offers the Al Rabeh Guarantee service to support local businesses
Mubadala may also dispose of some residential buildings in the United Arab Emirates’ capital
More than 140,000 eligible customers have already benefited from the TESS liquidity facility
The investment firm could raise more than $3bn through a five-year loan
Gross domestic product is expected to shrink the most in two decades this year
The sukuk was nearly 4.5 times subscribed with a profit rate of 2.95 per cent per annum
Fabrice Francois will join Goldman’s mid-market advisory franchise, known as the cross markets group
The roll-out of the super app started in March 2020 and is expected to complete by the end of June 2020
The initiative will grant an alternative channel to customers seeking access to cash
The offering will comprise of 27,180,000 ordinary shares
The startup also plans to invest in upskilling its freelancers and SME service providers to help them garner more opportunities
It contributed 9.9 per cent to Dubai’s GDP in 2018
Naqvi is one of six former Abraaj executives who face charges stemming from the private equity’s firm’s 2018 collapse
The Covid-19 pandemic has made contactless payments more relevant than ever before. Khalid Elgibali, MENA division president at Mastercard, discusses whether adoption in the GCC grown significantly
The bank stated that 101,731,408 of its shares were purchased by 254 unique investors on May 28
At end of 2019, its assets under management (AUM) stood at Dhs853bn, compared to Dhs840bn in 2018
Kirdar founded the company in 1982 and led it for over three decades
The top five destination countries for remittances were India, Pakistan, Philippines, Egypt and the US
Globally, 235 IPOs raised $28.5bn in Q1 2020, compared to $15.1bn in Q1 2019
This marks GFH’s second sukuk listing on Nasdaq Dubai, following the listing of a $300m sukuk in February this year
Ashok Aram, who also heads the firm’s international private and commercial bank operations, is departing for personal reasons
The acquisition of a 100 million shares is worth around Dhs900m
Wahed Invest got the financing from Saudi Aramco Entrepreneurship Ventures unit as part of a $25m funding round
The investment, part of its $100m FinTech Fund to help establish and upscale fintech companies, reinforces DIFC’s commitment to drive advancements in the financial services sector