ADNIC in its earnings release reported its underwriting profitability continued to be robust with a combined ratio of 87.60 per cent and a net insurance service profit of Dhs178.1m
The banking group’s net profit after tax and minority interest rose by 20 per cent to reach EGP405m
The MoU strengthens VARA’s aim to achieve full transparency and market conduct adherence across virtual asset service providers licenced to operate in Dubai
The banking group has closed senior financing transactions worth more than GBP650m over the past five years
The payments company said growth was driven by the UAE’s resilient domestic consumer spending and a strong influx of tourists
It attributed the drop in net profit to predominantly lowered remittance margins, higher costs as well as an increase in financing costs
The sovereign wealth funds from Saudi Arabia, Qatar and the UAE appear to have become go-to investors in difficult times for the global markets
The administrative sanctions are the result of findings which revealed serious regulatory misconduct
The project’s financing will reduce energy import dependency, stimulate economic activities, develop existing industries and create job opportunities for the population
Saudi Arabia dominated the region in terms of the number of listings, with four listings on the Tadawul’s main market raising $0.8bn
The agreement aims to enhance co-operation, co-ordination and information sharing between the DFSA and FIU to fulfill their respective obligations related to AML/CFT compliance
The company’s mobility solutions registered strong double-digit growth in the second quarter of the year, up 12 per cent
The rights issue was oversubscribed 7.4 times, with a total demand of Dhs4.1bn
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