Bahrain awards Golden Licences to four projects worth $3.89 billion
The announcement was made on Sunday at Gateway Gulf 2026, a forum hosted by the Bahrain Economic Development Board (EDB)...
Business
Business
Al Rajhi Bank 9M profit up
Revenue growth lifts earnings despite higher provisions
- Al Rajhi Bank’s nine-month operating income rose 13.4% to 32.53 billion riyals, while total provisions increased 39.5% year-on-year.
- Third-quarter net profit climbed 11.7% to 7.11 billion riyals, as operating income increased 12.5% to 11.12 billion riyals.
Business
UAE launches AI-powered tourist VAT refund platform
The UAE’s Federal Tax Authority (FTA) has launched an artificial intelligence-powered platform for tourist value-added tax (VAT) refunds, allowing visitors...
- The AI-powered platform uses facial recognition and automated verification to simplify tourist VAT refunds across three UAE international airports.
- The FTA expects four million refund transactions worth AED692 million between November 2026 and October 2027, following recent enhancements.
Business
Nasdaq Dubai lists $1.55 billion in Congo sovereign bonds
Nasdaq Dubai has listed $1.55 billion in sovereign bonds issued by the Republic of the Congo, making it the first...
- Congo’s $1.55 billion secondary bond listing on Nasdaq Dubai expands its reach among Middle Eastern institutional investors and financial institutions.
- The listing comprises two 9.5% amortising notes maturing in 2035 and 2036, initially listed on the London Stock Exchange.
Opinion
Managing risk as telecom operators expand into digital finance
But now, as telecom operators expand into digital finance, service continuity and transaction reliability carry even bigger stakes, writes Donald...
- The telecom industry cannot rely on legacy approaches (or disgruntled visiting executives) to scale in the digital finance era
- Building controls that can scale in a rapidly growing digital economy is essential to sustainable success.
Business
UAE enterprises face AI governance gap as security risks mount
A new Microsoft, CPX and IDC study finds widespread AI security risks, unauthorized tool use and limited preparedness for autonomous...
- 98% of security teams have encountered AI-related risks, while 80% of CIOs expect their AI investments to deliver results within two years.
- 43% of CIOs report regular employee use of unapproved AI tools, while only 15% of CISOs have mandatory authority over AI deployments.
Business
Mashreq prices Dim Sum bond
UAE bank raises offshore renminbi funding
- Mashreq's inaugural offshore renminbi bond attracted orders of 2.3 billion yuan, more than twice the issue size, the bank said.
- The bond is expected to list in Luxembourg and Dubai, with settlement through Euroclear, Clearstream and Hong Kong's Central Moneymarkets Unit.
Business
Aldar buys Sharjah homes
Deal adds 1,100-plus rental units
- The forward purchase agreement covers more than 1,100 residential units in nine buildings, with Arada scheduled to deliver them in late 2029.
- Aljada is planned to contain about 25,000 homes and has already recorded more than 8,800 residential handovers since 2021.
Research
MENA could unlock $1 trillion value by 2030
“The opportunity for MENA is significant, and the value will come from execution,” said Wissam Yassine, partner and Middle East...
- A survey found that 89% of respondents considered AI to have high or very high potential to advance their organisations' environmental, social and governance goals.
- However, only 40% to 55% of respondents, depending on the use case, said their sustainable AI adoption had reached the pilot or scaled stage.
Business
Sharjah real estate transactions reach $12.74 billion
Sharjah recorded AED 46.8 billion ($ 12.74 billion) in real estate transactions during the first nine months of 2026, up...
- Sharjah recorded 91,560 real estate transactions, up 14%, while sales reached AED 35 billion across 216 areas during January-September.
- - Residential properties dominated sales with 19,910 units, while mortgages totalled AED 10.2 billion and 22 new projects were registered.
Business
SIB profit up 9%
Higher income from financing and investment drive growth.
- Sharjah Islamic Bank's financing and Sukuk income rose 11.7% to AED 3.2 billion, while operating income climbed 13.6%.
- Total assets reached AED 100 billion, while Islamic financing expanded 18.9% and the capital adequacy ratio improved to 19.37%.
Bahrain awards Golden Licences to four projects worth $3.89 billion
The announcement was made on Sunday at Gateway Gulf 2026, a forum hosted by the Bahrain Economic Development Board (EDB)...
Business
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Musk kicks Kanye West off Twitter for ‘incitement to violence’
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Oman sees hospitality industry revenue fall 3.5%
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Proof of Covid-19 vaccination, PCR test needed to enter Expo Dubai
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Cyberattack hits hundreds of US businesses
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Saudi Arabia to generate $150 billion in investments from its new transport policy
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UAB nine-month profit rises 6%
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du 9M profit up 10.8%
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Al Rajhi Bank 9M profit up
Business
Nasdaq Dubai lists $1.55 billion in Congo sovereign bonds
Nasdaq Dubai has listed $1.55 billion in sovereign bonds issued by the Republic of the Congo, making it the first...
Business
Managing risk as telecom operators expand into digital finance
But now, as telecom operators expand into digital finance, service continuity and transaction reliability carry even bigger stakes, writes Donald...
Opinion
UAE enterprises face AI governance gap as security risks mount
A new Microsoft, CPX and IDC study finds widespread AI security risks, unauthorized tool use and limited preparedness for autonomous...
Business
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Business
Aldar buys Sharjah homes
Deal adds 1,100-plus rental units
- The forward purchase agreement covers more than 1,100 residential units in nine buildings, with Arada scheduled to deliver them in late 2029.
- Aljada is planned to contain about 25,000 homes and has already recorded more than 8,800 residential handovers since 2021.
Research
MENA could unlock $1 trillion value by 2030
“The opportunity for MENA is significant, and the value will come from execution,” said Wissam Yassine, partner and Middle East...
- A survey found that 89% of respondents considered AI to have high or very high potential to advance their organisations' environmental, social and governance goals.
- However, only 40% to 55% of respondents, depending on the use case, said their sustainable AI adoption had reached the pilot or scaled stage.
Business
Sharjah real estate transactions reach $12.74 billion
Sharjah recorded AED 46.8 billion ($ 12.74 billion) in real estate transactions during the first nine months of 2026, up...
- Sharjah recorded 91,560 real estate transactions, up 14%, while sales reached AED 35 billion across 216 areas during January-September.
- - Residential properties dominated sales with 19,910 units, while mortgages totalled AED 10.2 billion and 22 new projects were registered.