MENA sovereign investors reach $6.1 trillion in assets
Mubadala led regional sovereign investors with $26.2 billion in investments, followed by the Public Investment Fund (PIF), Abu Dhabi Investment...
Business
Business
Sharjah Islamic Bank raises $500 million through five-year Sukuk
Sharjah Islamic Bank (SIB) has issued $500 million of five-year Sukuk, attracting orders worth $1.3 billion, or 2.6 times the...
- The five-year Sukuk attracted orders worth $1.3 billion, equivalent to 2.6 times the issue size, amid strong investor demand.
- SIB priced the issuance at 5.85% final yield, representing a 105-basis-point spread over five-year U.S. Treasuries.
Business
UAE central bank bars Bank Melli Iran branches from Iran transactions
The violations included non-compliance with requirements and obligations under UAE legislation relating to combating money laundering, the financing of terrorism...
- The prohibition covers trade finance and fund transfers involving all Bank Melli Iran branches operating in the UAE.
- The CBUAE said it would continue to strengthen its supervisory framework and take measures to safeguard the soundness and integrity of the UAE financial system.
Business
SoftBank raises $11.1 billion through bonds for OpenAI
SoftBank Group has issued dollar- and euro-denominated bonds worth a combined $11.1 billion as it seeks funding to support its...
- An offering document showed on Thursday that SoftBank issued $1 billion of 3.5-year senior dollar notes, $4.5 billion of 5.5-year notes and $4.5 billion of 7.5-year notes.
- SoftBank also issued two €500 million tranches with maturities of four and six years, yielding 7.125% and 8%, respectively.
Business
Emerson to build new automation solutions service center in Qatar
Emerson, a global automation solutions company, said on Wednesday it plans to build a new solutions service center in Qatar's...
- The facility will include region's first certified in-country flow calibration lab, along with other automation technologies.
- The 3,500-square-meter facility adds to Emerson's existing manufacturing, service and distribution locations in Saudi Arabia and the United Arab Emirates.
Business
UAE sets 5.06 percent profit rate for retail T-Sukuk
The UAE Ministry of Finance set a 5.06% annual profit rate for its second five-year Sovereign Retail T-Sukuk issuance. Subscriptions...
- Subscriptions run through September 28, with allocation September 29 and issuance, refunds and settlement scheduled for September 30.
- The sukuk will trade on Nasdaq Dubai from October 1, extending retail investors' access to secondary-market liquidity.
Business
UAE tops Arab Digital Economy Index 2026
The UAE topped the Arab Digital Economy Index 2026, with the assessment highlighting regional gains in infrastructure, digital government and...
- The index identified persistent gaps in innovation, research and development, data economies and converting digital investment into productivity.
- Saudi Arabia, Bahrain, Qatar and Oman joined the UAE in the highest-performing group, while 11 countries develop digital foundations.
Business
Maldives and Eagle Hills sign terms for $12 billion waterfront destination
The project, known as Maldives Waterfront and Marina, is planned as an integrated tourism and residential destination combining hotels and...
- Properties will be offered under Maldivian law on leasehold terms of up to 99 years, restarting after transfer.
- Maldives Infrastructure, Housing and Urban Development Minister Abdulla Muththalib described the project as the country’s largest investment programme.
Business
PIF launches digital platform Tawrid for providing supply-chain financing
The Public Investment Fund (PIF) has announced the launch of Tawrid Company for Financing Solutions, an innovative digital platform providing...
- Tawrid has obtained the Saudi Central Bank’s (SAMA) permit to operate under the regulatory “Sandbox” environment, Argaam reported.
- Tawrid has started operations and has already signed binding agreements with local banks and companies.
Business
Qatar launches platform to manage wealth fund domestic portfolio
Qatar’s new investment platform will manage the wealth fund’s domestic portfolio as Doha targets $60 billion in infrastructure and private...
- Qatar expects $38.5 billion in infrastructure projects and $22.5 billion in private real estate and hospitality investment over five years.
- The strategy comes amid disrupted LNG exports, risky Hormuz shipping and Doha’s efforts to strengthen economic resilience through diversification.
Business
Dubai’s ATM 2026 closes with record Asia-GCC travel data, tourism rebound
The 33rd edition, held under the theme "Travel 2040: Driving New Frontiers Through Innovation and Technology," saw the launch of...
- It also saw the launch of the UAE Grand Tour digital platform mapping a single route through the seven emirates.
- Emirates signed 11 memoranda of understanding during the show, while Rotana unveiled a pipeline of 40 hotels and more than 8,300 keys.
MENA sovereign investors reach $6.1 trillion in assets
Mubadala led regional sovereign investors with $26.2 billion in investments, followed by the Public Investment Fund (PIF), Abu Dhabi Investment...
Business
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Musk kicks Kanye West off Twitter for ‘incitement to violence’
West has made a series of anti-Semitic comments recently, as the one-time titan of fashion and music appears to have...
Oman sees hospitality industry revenue fall 3.5%
The National Centre for Statistics and Information says domestic guest have supported the Oman's hotels.
Proof of Covid-19 vaccination, PCR test needed to enter Expo Dubai
Expo 2020 visitors will need a coronavirus vaccination or a negative PCR test to enter, organisers in Dubai has said....
Cyberattack hits hundreds of US businesses
A US IT company urges customers to shut down their servers after the attack UN Security Council members recently warned...
Saudi Arabia to generate $150 billion in investments from its new transport policy
The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private...
Masar signs $82m land deal
Business
SoftBank raises $11.1 billion through bonds for OpenAI
SoftBank Group has issued dollar- and euro-denominated bonds worth a combined $11.1 billion as it seeks funding to support its...
Business
Emerson to build new automation solutions service center in Qatar
Emerson, a global automation solutions company, said on Wednesday it plans to build a new solutions service center in Qatar's...
Business
UAE sets 5.06 percent profit rate for retail T-Sukuk
The UAE Ministry of Finance set a 5.06% annual profit rate for its second five-year Sovereign Retail T-Sukuk issuance. Subscriptions...
Business
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Business
Maldives and Eagle Hills sign terms for $12 billion waterfront destination
The project, known as Maldives Waterfront and Marina, is planned as an integrated tourism and residential destination combining hotels and...
- Properties will be offered under Maldivian law on leasehold terms of up to 99 years, restarting after transfer.
- Maldives Infrastructure, Housing and Urban Development Minister Abdulla Muththalib described the project as the country’s largest investment programme.
Business
PIF launches digital platform Tawrid for providing supply-chain financing
The Public Investment Fund (PIF) has announced the launch of Tawrid Company for Financing Solutions, an innovative digital platform providing...
- Tawrid has obtained the Saudi Central Bank’s (SAMA) permit to operate under the regulatory “Sandbox” environment, Argaam reported.
- Tawrid has started operations and has already signed binding agreements with local banks and companies.
Business
Qatar launches platform to manage wealth fund domestic portfolio
Qatar’s new investment platform will manage the wealth fund’s domestic portfolio as Doha targets $60 billion in infrastructure and private...
- Qatar expects $38.5 billion in infrastructure projects and $22.5 billion in private real estate and hospitality investment over five years.
- The strategy comes amid disrupted LNG exports, risky Hormuz shipping and Doha’s efforts to strengthen economic resilience through diversification.