Finance – Gulf Business https://gulfbusiness.com Mon, 14 Aug 2023 06:05:51 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.5 https://gulfbusiness.com/wp-content/uploads/2020/07/cropped-gb-new-fevicon-2020-1-32x32.png Finance – Gulf Business https://gulfbusiness.com 32 32 ADNIC reports net profit of Dhs204m in H1 2023 https://gulfbusiness.com/adnic-reports-net-profit-of-dh204-million-h1-2023/ https://gulfbusiness.com/adnic-reports-net-profit-of-dh204-million-h1-2023/#respond Mon, 14 Aug 2023 06:05:51 +0000 https://gulfbusiness.com/?p=264624 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

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]]> https://gulfbusiness.com/adnic-reports-net-profit-of-dh204-million-h1-2023/feed/ 0 EFG Holding’s Q2 2023 revenue jumps 51% to EGP3.1bn https://gulfbusiness.com/efg-holding-posts-egp3-1bn-in-q2-2023-revenue/ https://gulfbusiness.com/efg-holding-posts-egp3-1bn-in-q2-2023-revenue/#respond Fri, 11 Aug 2023 05:03:48 +0000 https://gulfbusiness.com/?p=264368 The banking group’s net profit after tax and minority interest rose by 20 per cent to reach EGP405m

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]]> https://gulfbusiness.com/efg-holding-posts-egp3-1bn-in-q2-2023-revenue/feed/ 0 Dubai’s VARA, DET to establish market assurance standards for virtual assets https://gulfbusiness.com/vara-det-to-set-mkt-assurance-standards-for-vas/ https://gulfbusiness.com/vara-det-to-set-mkt-assurance-standards-for-vas/#respond Fri, 11 Aug 2023 05:00:23 +0000 https://gulfbusiness.com/?p=264309 The MoU strengthens VARA's aim to achieve full transparency and market conduct adherence across virtual asset service providers licenced to operate in Dubai

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]]> https://gulfbusiness.com/vara-det-to-set-mkt-assurance-standards-for-vas/feed/ 0 ADIB finances UK real estate assets worth $128m in H1 2023 https://gulfbusiness.com/adibs-real-estate-funding-hits-128m-in-h1/ https://gulfbusiness.com/adibs-real-estate-funding-hits-128m-in-h1/#respond Fri, 11 Aug 2023 04:00:33 +0000 https://gulfbusiness.com/?p=264327 The banking group has closed senior financing transactions worth more than GBP650m over the past five years

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]]> https://gulfbusiness.com/adibs-real-estate-funding-hits-128m-in-h1/feed/ 0 Network International’s half-year revenues reach $239m https://gulfbusiness.com/network-international-posts-239m-in-h1-revenues/ https://gulfbusiness.com/network-international-posts-239m-in-h1-revenues/#respond Fri, 11 Aug 2023 03:00:59 +0000 https://gulfbusiness.com/?p=264222 The payments company said growth was driven by the UAE’s resilient domestic consumer spending and a strong influx of tourists

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]]> https://gulfbusiness.com/network-international-posts-239m-in-h1-revenues/feed/ 0 Al Ansari Financial Services reports dip in profits for H1 2023 https://gulfbusiness.com/al-ansari-financial-dip-in-profits-for-h1-2023/ https://gulfbusiness.com/al-ansari-financial-dip-in-profits-for-h1-2023/#respond Thu, 10 Aug 2023 11:31:03 +0000 https://gulfbusiness.com/?p=264229 It attributed the drop in net profit to predominantly lowered remittance margins, higher costs as well as an increase in financing costs

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]]> https://gulfbusiness.com/al-ansari-financial-dip-in-profits-for-h1-2023/feed/ 0 GCC wealth funds are new bankers to the world: Here’s why https://gulfbusiness.com/how-gcc-wealth-funds-are-new-bankers-to-the-world/ https://gulfbusiness.com/how-gcc-wealth-funds-are-new-bankers-to-the-world/#respond Thu, 10 Aug 2023 09:00:43 +0000 https://gulfbusiness.com/?p=264057 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

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]]> https://gulfbusiness.com/how-gcc-wealth-funds-are-new-bankers-to-the-world/feed/ 0 CBUAE revokes licence of money exchange firm https://gulfbusiness.com/cbuae-revokes-licence-of-dirham-exchange/ https://gulfbusiness.com/cbuae-revokes-licence-of-dirham-exchange/#respond Wed, 09 Aug 2023 12:00:20 +0000 https://gulfbusiness.com/?p=264137 The administrative sanctions are the result of findings which revealed serious regulatory misconduct

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]]> https://gulfbusiness.com/cbuae-revokes-licence-of-dirham-exchange/feed/ 0 Abu Dhabi Fund for Development finances Dhs110m energy security project in Tanzania https://gulfbusiness.com/abu-dhabis-adfd-finances-project-in-tanzania/ https://gulfbusiness.com/abu-dhabis-adfd-finances-project-in-tanzania/#respond Wed, 09 Aug 2023 09:53:32 +0000 https://gulfbusiness.com/?p=264127 The project’s financing will reduce energy import dependency, stimulate economic activities, develop existing industries and create job opportunities for the population

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]]> https://gulfbusiness.com/abu-dhabis-adfd-finances-project-in-tanzania/feed/ 0 MENA stock markets maintain IPO momentum, raises $1.8bn in Q2 2023 https://gulfbusiness.com/middle-east-ipos-raise-1-8bn-q2-2023/ https://gulfbusiness.com/middle-east-ipos-raise-1-8bn-q2-2023/#respond Tue, 08 Aug 2023 12:30:35 +0000 https://gulfbusiness.com/?p=263911 Saudi Arabia dominated the region in terms of the number of listings, with four listings on the Tadawul’s main market raising $0.8bn

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