The Shawwal crescent was sighted on Tuesday in the UAE, igniting a nationwide festive atmosphere for Eid Al Fitr celebrations preparations. Sheikh Mohammed bin Rashid Al Maktoum, Vice-President, Prime …
The ADX advantage: Agility’s IPO marks a milestone for global aspirations
We look at how Agility’s proposed IPO on the ADX leverages the UAE’s vision to become a leading global hub for finance and logistics. The ADX advantage: Agility’s IPO marks a milestone for global …
Multi-strategy hedge funds in Hong Kong and Singapore are booming. Here’s why they’re tapping the Middle East to get to the next level.
New launches and long-time players in Singapore and Hong Kong are looking westward as they expand.
China and Gulf states changing face of development finance in Africa
As major investors displacing the traditional Western powers, China and the GCC are precipitating a reconfiguration away from the North-South flow of development resources.
7 UAE banks make it to Forbes’ ‘most valuable’ list for Middle East
Seven banks from the UAE, with a market value of $128.7 billion, have made it to Forbes Middle East’s ‘30 Most Valuable Banks’. The First Abu Dhabi Bank..
Dubai Police arrest 494 for phone banking fraud
Dubai Police has arrested 494 people involved in 406 phone fraud cases over the past year, the force has said. Phone calls, emails, SMS and social media links were used by fraudsters to gain access to …
Biggest Gulf bank QNB first-quarter net profit rises 7%
Qatar National Bank (QNB) reported a 7% rise in first-quarter net profit, the Gulf’s biggest bank by assets said in a statement on Monday.
UAE’s Lunate and Saudi Arabia’s Olayan buy 49% stake in Dubai tower ICD Brookfield Place
Abu Dhabi-based global alternative investment management company Lunate and Saudi conglomerate Olayan Financing Company have agreed to acquire a 49 per cent stake in Dubai’s ICD Brookfield Place. Upon …
DeFi Technologies Inc. Subsidiary, Valour Inc., Launches Trading Desk in UAE to Expand ETP Listings and Presence in the Middle East
DeFi Technologies Inc. (the “Company” or “DeFi Technologies”) (CBOE CA: DEFI) (GR: R9B) (OTC: DEFTF), a financial technology company and the first and only publicly traded company that bridges the gap …
Dubai Police arrests 494 individuals involved in phone fraud targeting bank customers
The fraudsters utilised various deceptive methods, including phone calls, emails, SMS, and social media links, to trick victims and access their savings and bank accounts. Dubai Police seized …
Dubai: 494 arrested for phone fraud cases, targeting banking customers
The fraudsters used phone calls, emails, SMS, and social media links to trick victims and access their savings and bank accounts …
UAE: ADX, DFM log nine large deals worth $435mln during Ramadan
According to market data, ADX saw the execution of five large direct deals on 243.4 million shares worth $186.18mln …
First Abu Dhabi Bank eyes Turkish acquisition in overseas expansion drive
FAB, which was created through the merger of National Bank of Abu Dhabi and First Gulf Bank in 2017, has been exploring opportunities to expand overseas like its GCC peers. Saudi Arabia’s largest bank …
Hedge Funds Explore New Defi Exchange Token O2T Before Bitcoin (BTC) Halving and Ethereum (ETH) ETF
In the intricate dance of market anticipation and strategic investment, hedge funds are turning their gaze towards a burgeoning opportunity in the cryptocurrency domain: (O2T). This new DeFi exchange …
UAE, Saudi Arabia to drive regional growth despite oil cuts, conflicts
Buoyed by a stronger-than-expected non-oil GDP growth in the UAE and Saudi Arabia, the Middle East economy remains robust, despite oil cuts and geopolitical turbulence, according to economists. The …
UAE stock markets see large influx of liquidity in real estate, financial sectors
Throughout the week’s trading sessions, local stock markets in the UAE experienced a significant influx of liquidity, totaling approximately 6.5 bill …
UAE, GCC banks’ Turkish subsidiaries to benefit from macroeconomic shift
The Turkish subsidiaries of GCC banks’ net monetary losses were $2.6 billion in 2023 as compared to $.9 billion in 2022, with Turkish inflation averaging 53 per cent over the ye …