The fund’s assets under management grew to $595.5bn from $527.8bn in 2021 despite the $15.6bn loss
The plan will develop financial policies to promote economic growth, create a competitive business environment and strengthen international economic relations
Wellington has been managing assets for clients in the Middle East and North Africa for 29 years and decided to expand into the region to support local needs
This agreement is part of SFD’s efforts to support sustainable development in developing countries and small island developing states
The company reported a 65 per cent increase in net profit to Dhs266.03m in Q2 2023 as compared to Dhs161.54m in Q2 2022
Sukuk and bonds had a high pricing correlation of 0.95 (out of 1) on average and low average spreads between 2018 and H1 2023
The conglomerate said its revenues surged by 30.8 per cent year-on-year to Dhs28.7bn as the company sustains its growth trajectory
The country’s sovereign wealth fund said its return on investment last year touched 8.8 per cent, which allowed it to contribute substantially to support the general budget
The US is now rated AA+ by Fitch, one step below AAA, and the assessor has a stable outlook on the country
CBI reported a net profit increase from Dhs55m in H1 2022 to Dhs79m in H1 2023
Saudi Arabia’s Vision 2030 programme to transform the kingdom is a key support to the Saudi stock market
The deal will see HSBC make a $35m investment into Tradeshift in two stages and also join its board
The financial centre saw a steady growth in the number of financially regulated firms establishing their base at DIFC
IPOs in the Middle East have fetched $5.1bn so far this year, exceeding volumes seen during the same period in nine of the last 10 years
The agreement is aimed at bettering the payment-systems infrastructure, financial inclusion and regulatory framework in Egypt
The offices will overlook corporate crimes, bankruptcy, regulation of competition, financial markets, intellectual property and trademarks, and customs evasion crimes
Under Cabinet Decision No (75) of 2023, penalties will be imposed on taxable persons who do not comply with the UAE corporate tax law effective from August 1
Jio Financial Services and BlackRock signed an agreement to form Jio BlackRock, an equal joint venture
The DFM General Index posted impressive growth of 14 per cent, closing at 3,972 points while market capitalisation soared to Dhs652bn
After a strong performance last year, the GCC region is set to see more activity in its capital markets in the medium term
The bank reported strong growth numbers as its retail and corporate businesses reflected growth and diversification in business
The lender has reported a net profit as interest income surged amid continued economic momentum in the country
A total of 20 startups will be onboarded during the ninth edition of the programmen
GCC central banks normally change their interest rates in lockstep with the US Fed as Gulf countries’ currencies are pegged to the dollar
The Shariah-compliant bank’s total income reached Dhs9.3bn during the quarter, up 49 per cent from Dhs6.22bn the same period a year ago
The bank’s net profit surged by 9 per cent to reach $1.33bn (SAR5bn) in the three months to June 30
The sale of Adani Capital will help Gautam Adani cut liabilities on his conglomerate’s balance sheet as it focuses on its infrastructure development businesses
The lending group also included First Abu Dhabi Bank acting as lead arranger
Wall Street behemoths such as Bank of America, Morgan Stanley, JPMorgan Chase, and Citigroup beat analysts’ expectations in the second quarter, sparking anticipation about a similar upswing in Asia
The banking group’s operating income reached Dhs6.8bn in Q2 2023, a 37 per cent YoY increase from the same period a year earlier