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Banking & Finance

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Al Rajhi Bank appoints Abdullah Al Rajhi as chairman

RIYADH, SAUDI ARABIA - Al Rajhi Bank said on Monday that it has appointed Abdullah bin Sulaiman Al Rajhi as...

Emkan named fastest-growing digital microfinance firm in Saudi Arabia

The company will add Instalment Finance, Auto Finance, SMEs Finance, credit card issuance to its offerings

Bahrain banks to offer loan repayments delay option

  The move will strengthen national efforts to overcome the economic challenges of Covid-19 The option to defer loan repayments...

Sharjah Ruler approves nearly AED52 million in debt settlements

This is the emirate’s 20th group of payments approved to the Sharjah Debt Settlement Committee The total amount processed since...

Saudia Arabia to amend administrative penalties for tax law violations

The changed laws are also expected to support tax registrants and help them fulfil their tax obligations

Foreign assets up to bn $106 bn: UAE Central Bank

Abu Dhabi’s quarterly average Financial Market Index rose by 17% in Q1 Dubai’s quarterly average Financial Market Index showed a...

Approach tax authority to redress problem, UAE tells penalized defaulters

UAE tax authorities have assured penalized tax-law violators that they can apply to have the penalty reduced or exempted To...

Cairn case: Indian state-owned banks not to withdraw overseas funds

Vested parties have orchestrated such reports, Indian Ministry of Finance said Cairn dispute relates to transfer of shares by Cairn...

Central bank digital currencies may disrupt financial systems

*Fitch Ratings says associated risks need to be managed well if CBDCs are to stay beneficial *Potential for cybersecurity threats...

Amlak posts Q1 net profit of AED 6 million

Revenues from all business activities stand at Dh62 million Rental income stands at Dh7 million Total assets stand at Dh...

DGCX looking forward to new highs in 2018

2017 was exceptional on many fronts for the region’s largest and most diversified derivatives bourse, Dubai Gold and Commodities Exchange...

Al Rajhi Bank appoints Abdullah Al Rajhi as chairman

RIYADH, SAUDI ARABIA - Al Rajhi Bank said on Monday that it has appointed Abdullah bin Sulaiman Al Rajhi as...

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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...

Large US banks post higher profits despite recent industry turmoil

JPMorgan Chase reported a rise in first-quarter profits alongside banking giants Citigroup and Wells Fargo. The first look at the...

More monetary tightening required, says top Federal Reserve official

The US should continue tightening monetary policy to bring down inflation while assessing the impact of last month's financial turmoil...

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Economic crisis, Ukraine war impact Arab currencies

The currencies of six Arab nations faced significant decline during the first quarter of 2023 amidst global economic uncertainty, while...
  • The currencies of six Arab nations faced significant decline during the first quarter of 2023 amidst global economic uncertainty, while another six experienced growth
  • Economic challenges, the strengthening US dollar, and the ongoing Russian-Ukrainian war have all played a role in the recent currency fluctuations

Switzerland to probe what led to Credit Suisse collapse

The economy committee of the National Council, the lower house of parliament, asked the government for an analysis of the...
  • The emergency takeover by UBS has sparked unease and criticism within Switzerland, where Credit Suisse was a pillar of the country's totemic banking sector.
  • Following a string of scandals, the collapse of three US regional banks in March left Credit Suisse looking shaky amid fears of contagion and shares nosedived.

Prominent firms in DIFC to tap into wealth across region

DUBAI, UAE -  Over 300 prominent wealth and asset management (WAM) firms have established themselves in Dubai International Financial Center...
  • The financial center's 300 wealth and asset management firms should help in providing a conducive environment for businesses in the region.
  • DIFC's world-class legal and regulatory framework and access to competitive markets have bolstered the depth of its asset management ecosystem.