Mashreq prices Dim Sum bond

UAE bank raises offshore renminbi funding

Aldar buys Sharjah homes

Deal adds 1,100-plus rental units

SIB profit up 9%

Higher income from financing and investment drive growth.

Masar signs $82m land deal

Agreements signed with Abdulmohsin Al Rossais & Sons Group.

Borouge okays $656m dividend

The company said dividend reflects its resilience

  • New York, United States -- Silicon Valley Bank's stunning collapse has led to the freezing of tens of billions of dollars...

    The company, whose website says it is "the financial partner of the innovation economy," taken over by the US Federal Deposit Insurance Corporation to prevent further damages.

    For banks that are FDIC-insured, only $250,000 per account is guaranteed. But according to SVB's annual report, 96 percent of its total $173 billion in deposits was uninsured.

  • Riyadh, Saudi Arabia -- The Small and Medium Enterprises Bank of Saudi Arabia's National Development Fund said Sunday it has...

    The Bank's direct and indirect lending programs, financing guarantee programs and investment programs will be financed over the next three years.

    These programs support the kingdom's Vision 2030 and to raise the contribution of SMEs to the GDP to 35 percent.

  • Cairo, Egypt -- Egyptian exports to China rose by 20.8 percent to $1.7 billion in the first 11 months of...

    The trade exchange between Egypt and China increased by 2.6 percent during the first 11 months of 2022, reaching $14.9 billion.

    Fuel, mineral oils and distillate products, cotton, and fruits made up the top 10 categories of goods that Egypt shipped to China.

  • It posted $161bn profits last year on high oil prices.

    The world's second most valuable company behind Apple, said in a filing with the Saudi stock market that net income for 2022 was $161.07 billion, up from $110 billion in 2021

    Energy prices are expected to stay elevated in 2023, in part because of production cuts approved last October by the OPEC+ cartel that Riyadh co-leads with Moscow

  • The FDIC on Friday took over SVB, a major lender to the tech world, in the second-largest bank failure in...

    It is widely believed that the process of liquidating the bank's assets can drag on for a long time, with no certainty of just how much will be recovered

    As per the California Department of Financial Protection and Innovation withdrawal orders from SVB reached a breathtaking $42 billion

  • Iraq has scuttled a big smuggling operation of bringing into the country a large consignment of three million pills of...

    In recent months, Iraqi security forces have ramped up operations against such smuggling bids, with several high-profile drug seizures reported

    Iraqi police, a few weeks ago, announced a big seizure of more than six million pills of the stimulant in a major drug bust

  • ABU DHABI, UAE - etisalat by e& announced on Saturday the implementation of the Eutelsat Quantum satellite solution, becoming the...

    etisalat became the first telecommunications company in UAE to expand 5G network capabilities over a software-defined satellite.

    This deployment was a result of rigorous testing with customers for over a year to rapidly scale up the 5G mobile network deployment.

  • Officially closed and put into receivership by US authorities on Friday, SVB was at risk due to a heavy concentration...

    SVB's woes are the result of "idiosyncratic stresses and not one that we see as systemic that would affect the banking industry," said CFRA Research's Ken Leon

    A note from analysts at Morgan Stanley put it simply, saying, "We want to be very clear here ... we do not believe there is a liquidity crunch facing the banking industry."

  • Dubai, UAE--The Indonesian Investment Forum kicked off in Dubai to lure businesses and investments. The two-day event aimed to explore...

    The Dubai event will explore opportunities to lure foreign direct investment and widen markets for export products

    Bank Indonesia in collaboration with KJRI Dubai, the Indonesian Embassy in Abu Dhabi and many others hosted the event

  • The region will benefit from investment in training institutes for nursing and health professionals, Amanat Holding CEO Mohamed Hamade tells...

    The region will benefit from investment in training institutes for nursing and health professionals, Amanat Holding CEO Mohamed Hamade tells TRENDS during an interview

    Hamade also sheds light on how Amanat Holding balances profitability with social responsibility. He also hints at potential future investment plans and IPOs in the region