Fintech fuels growth in Islamic finance sector
Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations...
Business
ADB plans to invest US$100bn to maximize climate impact
MANILA, PHILIPPINES - Setting the scene for a low-carbon and climate-resilient Asia and the Pacific, the Asian Development Bank (ADB)...
Economy
Tax payers in Saudi Arabia asked to file returns or face action
Withholding tax is deducted from the total income of a non-resident establishment in Saudi Arabia, in return for services it...
Emirates REIT rescinds voluntary consent solicitation
A majority of Sukuk holders voted in favor of solicitation but support fell short of the required 75 percent mark
IFIN launches first-of-its-kind Islamic financing platform
IFIN platform eliminates the need for customers to visit their bank branch to secure finance and provides retailers with an opportunity...
European central bank honchos to wrestle with rising inflation
The ECB's 25-member governing council is widely expected to hold interest rates at historic lows and leave its massive bond-purchasing...
KFH awarded Best Bank in Kuwait, in Middle East
EMEA awards recognize the financial performance, banking excellence and innovative products
France probes Lebanese central bank chief’s wealth
Findings could shed light onto the origins of the 70-year-old former Merrill Lynch banker's wealth
Non-oil firms, banks play key role as UAE markets remain mixed
Banks remained in the first three positions on Dubai index in terms of market capitalization
Powell, Lagarde bicker over central bank role in climate policy
The two differed on the role of central banks in fighting global warming Lagarde, has made climate protection financing an...
Turkey’s central banker tries to calm market jitters
Turkish economy expanded by 7 percent between Jan and March but inflation more than triple the government's target of 5...
Saudi Arabia National Housing and Bank Albilad in $533 m deal for infrastructure
The deal is part of the Saudi Vision 2030 to give more ownership of homes to Saudi families  CEO Bank...
Fintech fuels growth in Islamic finance sector
Islamic banking, making up 70% of the Islamic finance market's assets, is undergoing a transformative phase, fueled by fintech innovations...
Business
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ADDED ink deal with Wio Bank to aid SMEs growth
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) and Wio Bank announced on Tuesday that would...
Business
UBS hopes to complete Credit Suisse takeover before July
Analysts polled by the Swiss financial newswire AWP expected UBS's first quarter net profit to tick in at around $1.7...
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Business
DIB Q1 profit up
Net financing and sukuk investments stood at $65.35bn.
- DIB's total income rose to AED 4.431 billion ($1.21bn) compared to AED 3.016 billion ($820m), a solid expansion of 47 percent YoY.
- Net operating revenues showed a robust 12 percent YoY to reach $750 million, while net operating profit stood at $550 million.
Business
HSBC calls for vetoing split proposal
HSBC's largest stakeholder Ping An says the split will improve business.
- HSBC argued this was the best and safest way to continue to deliver substantially more value for shareholders.
- The banking giant called on shareholders to vote against the proposal at the bank's annual general meeting on May 5.
Economy
More rate rises may be needed to tame high inflation, says ECB economist
FRANKFURT, GERMANY - More eurozone interest rate increases will be appropriate to tame high inflation if conditions remain as expected, the...
- The ECB has hiked rates by 3.5 percentage points since July last year in an unprecedented campaign of monetary tightening.
- The central bank holds its next meeting on May 4 and all eyes are on whether policymakers will implement another hike and by how much.