ADIB-Egypt introduces Shariah-compliant private banking services for HNWIs
Cairo, Egypt – ADIB-Egypt has launched its exclusive portfolio of Private Banking Services, providing a Shariah-compliant banking proposition for its high-net-worth...Business
Cerberus buys HSBC France retail
The takeover was finalized for an undisclosed amount.Company News Business
Chabahar port becomes permanent member of World FZO
The World FZO is a non-governmental, non-profit entity based in Dubai in the United Arab Emirates.Chabahar is Iran's only oceanic port on the Gulf of Oman
It can from now on participate in the decisions and events of the World FZO
ADNOC L&S acquires line boats
Boats used for marine services at Abu Dhabi petroleum ports.All six vessels contracted from Sharjah-based Albwardy Damen.
ADNOC L&S says it is in the midst of strategic expansion program.
TikTok to offer in-app shopping with Shopify
The social media app will expand into e-commerce in partnership with ShopifyThe social media app will expand into e-commerce in partnership with Shopify
The news comes amid rising interest in "social commerce" that is expected to be worth some $36 billion in the US this year
Samsung announces $205 billion investment plan
The tech giant is South Korea's largest conglomerate and its overall turnover is equivalent to a fifth of the national...The tech giant is South Korea's largest conglomerate and its overall turnover is equivalent to a fifth of the national gross domestic product
Samsung Electronics, the flagship subsidiary of the Samsung Group, is the world's biggest smartphone maker
High cost of non-stop flying shakes up aviation
The global aviation industry has been booming for the last few decades now. But the unprecedented growth in jets flying...The aviation sector generates 2-3% of global carbon emissions
Industry leaders pledged to halve net CO2 emissions to 2005 levels by 2050
Bahrain’s rich own half of its total wealth
Nearly half of Bahrain’s wealth, of $69 billion, is possessed by its super-rich citizens, according to Boston Consulting Group (BCG).Ultra high-net-worth individuals (UHNWIs), who are valued at $100m or more are expected to own 44pc of overall financial wealth in the kingdom by 2025
the upper high-net-worth ($20m to $100m) and lower high-net-worth ($1m to $20m) individuals are expected to own 9pc and 15pc of financial wealth in the kingdom respectively by 2025
Kuwait looks to regulate local used-car trade market
The regulation will look to limit the maximum number of cars non-Kuwaiti residents in the country can own.Local authorities were recently alerted to people in the country with up to 50 vehicles in their names
These people were apparently trading in used cars without a proper license
Abu Dhabi Judicial Department pulls up banks over loan guarantees
Failing to take guarantees is a violation of the requirements and controls regulating the granting of loans, said the department.In many cases already filed, courts found the guarantee provided by a borrower not proportional to the value of the loan
In some other cases, banks apparently disbursed money against the borrower’s guarantee or his identification papers only
Abu Dhabi’s IHC looks at ‘few billion dollars’ deals
International Holding Co (IHC), Abu Dhabi’s largest conglomerate, is looking at acquisitions of various companies in different sectors.IHC, now the most valuable company on the Abu Dhabi bourse with a market capitalization of $72bln, is also considering a 2022 IPO
IHC is also looking at three or four targets in the food sector, as well as eyeing targets in the healthcare and leisure and retail sectors
Qatar’s Islamic lender buys 5% stake in Al Rayan
Masraf Al Rayan, Qatar’s Islamic lender, has bought an additional 5 percent stake in Al Rayan (UK) from Qatar Holding...The Islamic lender’s shareholding in Al Rayan rises to 75 percent
This represents a purchase of 5,000,000 ordinary shares of GBP1 par value
