The Middle East Venture Fund III will invest in early-stage and growth-stage tech companies
Saudi Arabia could issue up to $10bn, banking sources said
The funds will target annual returns of 6-7 per cent
The loan will be used to fund operational expenses and debt repayments
Atlas defaulted on loans in 2015 and its owner, M M Ramachandran, was sentenced to a three-year jail term
Riyadh started issuing domestic conventional bonds in 2015
The privately owned investment company has over $5bn of assets under management
Two winners will be selected and invited to demonstrate their solutions at the Global FinTech Hackcelerator in Singapore
The bank is carrying out a system enhancement during the end of the month
The aggregate gross consideration for the transaction amounted to $90m
The investment was made in exchange for an equity ownership in Wego
China’s inclusion in MSCI’s main indices can provide lessons for Saudi Arabia
The UAE Banks Federation is partnering with Anomali to create the Information Sharing and Analysis Center
One source said around 100 staff could be put on leave, while another said it might be as high as 200
Credit Agricole will remain a strategic shareholder in Banque Saudi Fransi
The Academy will form partnerships with business schools and universities to offer the courses
The authority also plans to introduce fees for investors when they enter and exit REITs
The organisation will select 10 finalists for its five-week start-up programme
Excise tax takes effect next month, while VAT will be implemented in January 2018
The round included $700,000 from Dubai-based venture capital firm Myrisoph Capital
Hamood Sangour al-Zadjali had run the central bank since 1991
One-bedroom apartments will be priced at about 54 bitcoins, or $250,000
The report attributed the change to the Omani government’s reduced capacity to support banks
NMC listed on the exchange in 2012 and has seen its share price rise 22 per cent over the last quarter
The size of the planned issue is not known
Emaar is considering an initial public offering of up to 30 per cent of its UAE real estate business
The regulatory incubator aims to allow fintech firms to test ideas without falling foul of financial laws
Education and healthcare will be subject to a zero rate
From mid-September, businesses will be able to register with the tax authority through the website
Here’s how brokers should deal with market volatility