Lunate Capital launches Shariah-compliant ETF tracking Indian equities
ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid,...Business Economy Markets
Tesla suspends production in Germany
Houthi attacks in the Red Sea caused a shortage of parts.Business
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
Safari lands Saudi contracts
The contracts pertain to managing the King Fahd Causeway.Safari has been awarded all three facilities management packages by the King Fahd Causeway Authority
According to the five-year contract, Safari will provide over 500 staff to maintain and enhance the aesthetics and functionality of the causeway
Sharjah Sustainable City builds on green concept
The project, which covers 7.2 million square feet of land in Al Rahmaniyah area, builds on the concept of future...The project extends over an area of 7.2 million square feet of land in the Al Rahmaniyah area of Sharjah, supporting the urban development of the Emirate
The city is designed to cover all three elements of sustainability - social, economic, and environmental
Saudi EXIM Bank and SMBC sign MoU to streamline businesses
The Saudi Export-Import Bank and Sumitomo Mitsui Banking Corporation (SMBC) have signed an agreement under which the two will work...Saudi EXIM Bank says MoU is one of many it is pursuing to help Saudi exports grow.
The SMBC will explore securitization or letters of credit to creditworthy Saudi exporters and Japanese importers.
ADH revenue, profit up by end of Q3
Rise in net profit attributed to a slew of acquisitions.Year-on-year revenue growth 341 percent, reaching AED 11,425 million in nine months.
Healthcare sector major contributor to revenue, which reached AED 11,425 million at the end of Q3.
Abu Dhabi-based fund exceeds target of $50m in second raise
The Chimera Global Fund has surpassed its target of $50 million in its second raise, as it aims to deploy...The Abu Dhabi-based fund said it has a “robust pipeline of opportunities” in a number of sectors including financial technology, educational technology, and health technology
“The fund aims to deploy tickets of up to $5 million in 12-15 companies that span from Series A to pre-IPO stages”
