Kuwait leads GCC market gains amid regional tensions
Despite challenges from regional tensions and fluctuating oil prices, sectors like F&B and pharma see notable increases, showcasing the diverse...Business Markets
Gaza solidarity boycott hits global food chains
As customers in the Middle East shun international restaurants, local businesses report they have benefited from the boycott.Business Geostrategy Global
Arab Bank Group Q1 net income $166m
The net income increased by 29.4 percent compared to $128.3m for Q1 2021.The Group loan portfolio grew by 5 percent to reach $35.2 billion as of March 31, 2022 compared to $33.5 billion for Q1 2021.
Customer deposits grew by 3 percent to reach $47.3 billion compared to $45.8 billion for the same period last year.
Physical security adds to digital transformation
Cybercrime has risen to the forefront of physical security concerns. And big firms are acutely aware of the problem, says...Physical security has progressed from when it was viewed as merely a technique for responding to crime
It now plays a more significant role as a critical component in the digital transformation of business processes
CBUAE puts into circulation new AED5 and AED10 banknotes
The Central Bank of the UAE (CBUAE) has announced that the new AED5 and AED10 banknotes have entered circulation in...The CBUAE in collaboration with the UAE Banks Federation (UBF) has provided the new AED5, AED10 and AED50 notes
The new denominations have been replenished to dedicated ATMs from participating banks across the country
India seizes $725m from China’s Xiaomi over ‘illegal’ remittances
India seized $725 million from the local bank accounts of Xiaomi after a probe found the Chinese smartphone giant unlawfully...India's financial crime investigations agency began investigating the company in February and said it seized the money from the firm's local arm
Relations between New Delhi and Beijing have been at a low ebb since a deadly Himalayan border clash between soldiers from both countries in 2020
Swvl to buy Zeelo of UK
The buyout will give Swvl a foothold in developed markets.The buyout will provides Swvl, which has locations in Dubai and Cairo, with a launchpad to land and expand business operations in developed markets
The transaction is expected to be completed in May 2022
GCC stock exchanges witness a mixed week
The main Saudi index had a variable week, the Abu Dhabi exchange suffered a slight decline, while, the main index...A 1.4% drop in Al-Rajhi Bank's stock and a 1.8% drop in Saudi National Bank's stock weighed on the TASI on Tuesday, causing a 0.3% drop
On Friday, the Abu Dhabi index fell by 0.2%, with losses of 1.3% at First Abu Dhabi Bank capping off two sessions of gains
IDB lists US$ 1.6 billion Sukuk on Nasdaq Dubai
The first public Sukuk issuance from IsDB in 2022 strengthens its position as the largest supranational institution.The first public Sukuk issuance from IsDB in 2022 strengthens its position as the largest supranational institution
The Bank successfully priced the 5-year Trust Certificates at par with a profit rate of 3.213%, payable on a semi-annual basis
Abu Dhabi’s realty transactions exceed Dh11.3b in Q1 2022
The transactions included the buying, selling, and mortgages of all types of lands, buildings, and real estate.The transactions included the buying, selling, and mortgages of all types of lands, buildings, and real estate
Yas Island topped the list with AED1.2 billion in real estate transactions, followed by Al Saadiyat Island with AED673 million
Surging ecommerce boon for GCC businesses
A rising number of tech-savvy millennials, 60 percent of whom shop online, is one of the most important factors responsible...A meager $5.3 billion, or 0.4 percent of the GCC's GDP, was generated by e-commerce in 2015. By 2020, revenue had quadrupled to $21.6 billion.
According to the Kearney Global Consultancy Firm, GCC e-commerce sales are expected to surge to $52 billion annually by 2025.
Deutsche Bank offices raided in money-laundering probe
Investigators searched the offices of Germany's biggest lender Deutsche Bank on Friday, prosecutors said, with the focus on the bank's...Deutsche Bank has in recent years been closely watched by financial authorities in relation to suspicious transactions
Investigators searched Deutsche Bank's headquarters in 2019 for failing to report possibly illicit money flows
