The investment will support the company’s entry into Saudi Arabia and fund further growth in the UAE
In this year’s Forbes list of the Middle East’s Top 100 Companies 2020, Saudi Arabia led the pack with 33 entries
Visa has secured exclusivity over Emirates NBD’s debit card for personal, priority, private and business banking customers, and the debit card programme for Liv.
From waiving certain fees to offering rental relief, DIFC is implementing several steps to help firms during the current Covid-19 crisis
Facebook invested $5.7bn in Jio in April for a roughly 10 per cent stake
In the past few years, the firm has structured and invested over $4bn of debt deals
The move aims to provide additional financial assistance to all businesses impacted by the pandemic
Wealth managers need to adopt sophisticated tools such as robo-advisors to stay relevant and offer the best service to their clients, says IT firm Comarch
The law will come into effect from July 1, 2020
The programme is aimed at helping banks amend and restructure loans without additional fees and support private sector employment
The government is looking to its largest-ever debt programme to keep the depletion of reserves limited to SAR120bn
A sale could happen as soon as this week and proceeds will be used for general budgetary needs, sources said
The bank’s chief operating officer, Sandeep Chouhan, has been appointed acting CEO
Reward points can be exchanged for cash which will be deposited into the customer’s Samsung Money by SoFi account
The sovereign fund has spent billions of dollars this year buying equities, including stakes in BP, Boeing, Citigroup and Facebook
Banks are trying to find ways to accommodate growing investment demands from cash-rich clients
UAE Exchange, which operates more than 100 branches across the country, stopped all transactions in March
An interest-free loan programme for military personnel which covers 20 per cent of a property will be suspended from May 31
As the pandemic forced factories all over the world to shutter and people to stay home, the global economy has plummeted and oil prices have dropped by almost half since the start of the year
Its 2019 revenues dipped 1.9 per cent to Dhs228bn
High unemployment, lack of progress in reducing carbon emissions and exacerbated inequalities are all possible side effects of the pandemic
The fall in oil prices has put a strain on the finances of Middle Eastern energy-producing countries
PIF is in need of capital as it embarks on an investment spree that has seen it build stakes in some of the world’s largest companies since the start of the coronavirus pandemic
The PIF is looking into “any opportunity” arising from the economic wreckage of the crisis, its governor said in April
Although the Covid-19 situation is straining financial institutions, banks have a major role to play in keeping economies buoyant during the current crisis and beyond
Aramco is weighing pushing out payments for the 70 per cent holding in SABIC and reducing the size of the initial installment to PIF
Its net loans stood at Dhs247bn and customer deposits at Dhs263bn as of the end of Q1 2020
Kuwait imposed a 24-hour curfew on Friday for the next 20 days to contain the spread of the pandemic
Last week, the company acquired 30 per cent of shares in National Petroleum Construction Co. it didn’t already own
The comparison website accounts for more than 75 per cent of online insurance transactions in the UAE