Threat of AI-powered phishing is on the rise
"Technologies such as Generative AI presents new security challenges. The rise of automated spear phishing necessitates reevaluating our trust heuristics....Business
UAE to tighten the screws on money laundering
Taking a strong stance against money laundering, the Central Bank of the UAE (CBUAE) has issued a new guidance on...The guidance serves as a key point of reference for licensed financial institutions to ensure their compliance with anti-money laundering
The guidance, which comes into effect today, requires LFIs to demonstrate compliance with CBUAE’s requirements within one month
Boursa Kuwait suspends 10 companies from trading
The reasons behind the penalty included not declaring quarterly financials, and not paying their annual subscription fees.Boursa Kuwait listed seven reasons why the companies had been suspended from trading
Some companies have been penalized for multiple reasons
Apicorp to allot $1bn for green energy
The bank will make the investment over the next two years.Currently, green assets comprise more than 13 percent of the bank’s overall portfolio
This is equal to around $550 million in loans and direct investments
Sohar Int’l raises Tier 1 capital by $130m
The Omani bank's new rights issue has been fully subscribed.Issuance fully subscribed, drew interest from HNWIs, retail investors, corporates
“Such overwhelming participation demonstrates the robust capabilities of Sohar International in terms of attracting capital to advance its strategic agenda"
Bahrain’s value of indigenous exports rises 103%
The value of exports of national origin of Bahrain increased to BD386 million ($1.06 billion) in August 2021, compared to...Saudi Arabia ranked first among countries receiving Bahraini exports of national origin, importing BD77 million (around $205 million) from Bahrain
The United States was second with BD62 million (around $165 million) and the United Arab Emirates third with BD53 million (around $141 million)
Hedge funds in Middle East post gains, after a full dull year
Hedge funds in Middle East are abuzz with excitement, posting double digit gains in August this year, after a weak...Yields for August alone were at 2.27 percent, higher than the global average.
Year-to-date returns for funds focused on region averaged 17.64%
First commercial flight lands in Kabul after Taliban takeover
An international commercial flight touched down in the Afghan capital on Monday, the first since the Taliban retook power last...‘There was hardly anyone on the plane, around 10 people... maybe more staff than passengers’
Qatar Airways operated several charter flights out of Kabul last week
Saudi mega power plant still seeking takers
The Ras Al Khair plant produces 1.05 million cu m of desalinated water per day and generates 2.65 GW of...Saudi Arabia was planning to sell 60 percent stake in the Ras Al Khair plant and raise $2 billion
However, bidders backed out after considering several factors, including the plant’s age and its waning technology
Adnoc Drilling sets IPO share price
The initial price is set at AED2.30 (around $0.63) per share.The subscription period for the Adnoc Drilling IPO will close on September 23 for UAE retail investors
It will close on September 26 for qualified domestic and international institutional investors
What’s the impact of the Apple app store court ruling?
Apple was forced to loosen the grip it holds on its App Store payment system. The tech giant requires developers...Apple takes a commission of up to 30 percent of app purchases or transactions.
It maintains that 85 percent of the approximately 1.8 million apps at the digital shop pay nothing to the company.
