CBB Sukuk Al Salam securities oversubscribed by 372%
Manama, Bahrain--The Central Bank of Bahrain (CBB) announced that the monthly issue of the Sukuk Al Salam Islamic securities has...Business
Sharp recovery to see Middle East box office revenue cross $800m in 2021
Box office revenue in the Middle East made the fastest recovery in the world, from $250 million in 2020 to...The revenue is expected to continue to rise, reaching $1 billion in 2022 and $1.3 billion in 2024, research has shown.
Only 261 of the 3,099 screens in the Middle East and Africa were closed due to the pandemic.
IHC to acquire Arena for $98m
A consortium will hold the Arena shares in a 70:30 ratio.Arena Events Group is a London Stock Exchange-listed events services business.
According to the terms offered, Arena shareholders will receive 21 pence in cash for each share.
UAE economy resilient, overcame many global challenges: RAK Properties CEO
The UAE was among the first countries to return to normalcy after the pandemic and is currently hosting Expo 2020...RAK Properties investments reach AED15 billion, engaged in several real estate sectors.
Expo 2020 will especially have a major impact on tourism and real estate sectors, Al Tair said.
DP World reports container volume growth of nearly 12 percent in Q3
The gross volume growth was mainly driven by Asia Pacific, India, Australia, and the MENA region.In Q3, DP World handled 19.8 million TEU, up 8.1 percent year-on-year basis.
The near-term outlook remains positive, but the company expects growth rates to be moderate in the final quarter, said CEO Ahmad Bin Sulayem.
Saudi-Swiss investment to touch $3.2bn by 2030
The Saudi-Swiss Investment Forum aims to touch $3.2bn of financing by 2030. The body, launched on 25 October in Riyadh,...Khalid Al-Falih, minister of investment, said the country’s plan is to make Saudi Arabia the most important export destination for Swiss companies
He added that kingdom’s investment strategy has several key aims it plans to reach by 2030, including doubling annual domestic investment to 9 percent of gross domestic product
IsDB lists sukuk on Nasdaq Dubai
The $1.7bn listing strengthens its position as the largest Sukuk issuer on the bourse.The listing strengthens the IsDB’s position as the largest supranational Sukuk issuer on Nasdaq Dubai with a total value of $18.8 billion
The bell-ringing ceremony was attended by Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of the Dubai Financial Market (DFM)
16 firms selected for Qatar FinTech Hub’s incubator and accelerator programs
Qatar FinTech Hub was launched by Qatar Development Bank (QDB) with the support of Qatar Central Bank (QCB) to develop...The Wave 3 of the program will run until Dec. 2021. QFTH will provide training and mentoring services.
The six mature FinTechs that have joined the Accelerator program are based in India, Sudan, Malaysia and Indonesia.
UAE credit card applicants to get pre-approved status online
The UAE’s Al Etihad Credit Bureau has joined hands with online financial aggregator Policybazaar UAE to implement real-time eligibility checks...The three-digit AECB credit score indicates how likely customers are to fulfill their payment obligations on time based on their past behavior
Maintaining a good credit history allows customers to avoid higher interest rates and credit refusals
Dar Al Arkan to develop $985m residential project in Saudi Arabia
The project will be developed on an area of 1 million sqm while fully respecting and preserving the topography and...The project will be developed on an area of 1 million sqm while fully respecting and preserving the topography and unique environmental features of Taif
It will offer premium residential units ranging from apartments, villas, and townhouses in addition to a variety of commercial facilities and amenities
Pyypl, Ripple launch on-demand liquidity service in Middle East
ODL uses XRP for instant, low-cost cross-border payments.ODL is the process of buying and selling XRP in originating and destination countries
XRP is the native cryptocurrency of products developed by Ripple’s creator Ripple Labs
