As the climate summit president continues to face criticism for his role as head of the UAE’s state oil producer, Sultan Al Jaber argued that his position will serve more as an asset than an obstacle …
UAE Ministry of Finance holds high-level closed session on Climate Finance
DUBAI – During a high-level closed session on Climate Finance at the World Government Summit 2023 (WGS2023), the Ministry of Finance (MoF) and the International Monetary Fund (IMF) discussed the …
Nigeria’s Buhari tells central bank to allocate more dollars to Emirates
Nigerian President Muhammadu Buhari has directed the central bank to increase the amount of foreign currency allocated to Dubai’s Emirates, after the airline suspended flights to and from Nigeria …
UAE central bank programme to accelerate digital transformation
The United Arab Emirates government launches programme to accelerate the digital transformation of the country’s finance sector.
World Bank most concerned in MENA about Lebanon and Tunisia
DUBAI (Reuters) – The World Bank is particularly concerned in the Middle East and North Africa region about Lebanon and Tunisia and, to a lesser extent, Egypt and Jordan, the bank’s vice president for …
No economy in the world wants money laundering, UAE economy minister
UAE Economy Minister Abdullah bin Touq Al Marri speaks to … A Division of NBCUniversal Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock …
Oman energy company OQ’s drilling unit may raise as much as $244m through IPO
Oman’s state energy company OQ could raise as much as 94 million rials ($244 million) from the initial public offering of its drilling unit, Abraj Energy Services, and has brought in Saudi Arabia’s …
UAE’s Biggest Power Firm Taqa Plans Green Bonds and M&A Deals
Sign up for our Middle East newsletter and follow us @middleeast for news on the region. The largest power producer in the United Arab Emirates plans to sell bonds …
Mashreq named UAE Market Leader by 2023 Euromoney Trade Finance Survey
Mashreq also ranks number one for services in Middle East, Africa, Egypt, Bahrain, Kuwait, Qatar, and Bangladesh The Bank earns nine accolades in total Dubai, UAE: Mashreq, one of the leading …
Oman’s OQ plans to raise up to $244 mln from oil and gas drilling unit Abraj IPO
DUBAI, Feb 14 (Reuters) – Oman’s state energy company OQ planned to raise as much as $244 million from an initial public offering (IPO) of its oil and gas drilling business Abraj Energy Services, the …
In post-IPO results, F&B giant Americana posts healthy $259.2m profit, revenue at $2.37b
Image Credit: Virendra Saklani/Gulf News Dubai: The Middle East’s biggest restaurant operator Americana helped itself to a healthy 27.1 per cent profit growth for 2022, to $259.2 million against the …
Dubai Islamic Bank raises $1bn from sustainable sukuk issuance
“We hope the success of our offering will encourage other issuers from the UAE to follow suit in this format.” Sustainable finance deals fund environment, social and governance-focused projects that …
Dubai Islamic Bank successfully prices $1bn sustainable sukuk, its second so far
Dubai Islamic Bank (DIB) has successfully priced its second sustainable sukuk – a $1bn 5.5-year senior issue with a profit rate of 4.80 per cent per annum, representing a spread of 102.4 basis points …
UAE central bank to issue CBDC, promote digital asset growth
The Central Bank of the United Arab Emirates (CBUAE … The FIT program announcement followed Dubai’s virtual asset regulatory authority releasing new guides on virtual asset activities for projects …
Dubai Islamic Bank prices $1 billion sustainable sukuk
Dubai Islamic Bank (DIB) has successfully priced its second sustainable sukuk – a landmark $1 billion 5.5-year senior issue with a profit rate of 4.80 per cent per annum, representing a spread of 102.
Empower’s 2022 net income climbs 7% on revenue boost
Shamal Holding and the Abu Dhabi Pension Fund were cornerstone investors in the IPO, with a total commitment of up to Dh335 million. Empower was established by royal decree as a joint venture in 2003 …
DEWA records higher net profits in 2022; special dividends unveiled
Dubai Electricity and Water Authority (DEWA) announced consolidated net profits worth AED 7.96 billion in 2022, an annual increase of 22% from AED 6.55 billion. The earnings per share (EPS) stood at …