Abu Dhabi, UAE--The UAE banking sector continued its growth momentum last year and is poised for further growth and recovery in 2024, thanks to the success of the Central Bank of the UAE's (CBUAE) strategies and policies in setting the necessary frameworks and regulations to deliver sustainable growth for the...

DUBAI, UAE – Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that under the guidance of Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum, the emirate has achieved remarkable success in expanding endowment assets and enhancing service endowments. Dubai witnessed an...

The market value of its net assets crossed US$5.66bn.

The buyout is part of its plan to boost media business.

Operating profit for 2023 was recorded at US$59 million.

Abu Dhabi, UAE - Since its launch in June 2022 through mid-February 2024, the Abu Dhabi Judicial Department's (ADJD) Auction App has generated over AED3.4 billion ($925 million) in sales. In more detail, 333 properties worth AED3,401,835,871 ($926,361,975), have been sold in addition to 1013 vehicles valued at AED78,277,025 ($21,334,933),...

ABU DHABI, UAE - The UAE insurance sector continues to exhibit robust growth, as evidenced by a 9.6 percent increase in total assets during the first nine months of 2023, reaching US$35.8 billion (AED 131.6 billion) by the end of the third quarter. This translates to an impressive US$3.1 billion...

Riyadh, Saudi Arabia -- The total value of assets held by public and private investment funds in Saudi Arabia decreased by 1 percent quarter-on-quarter (QoQ) to SAR 507.7 billion ($135.32 billion) by the end of the third quarter of 2023. The number of investment funds rose to 1,209 by the...

RIYADH, SAUDI ARABIA - Basic Chemical Industries Co.'s (BCI) subsidiary Chemical Marketing and Distribution Co. Ltd. secured a loan from the Saudi Industrial Development Fund (SIDF) to finance its project in Jubail Industrial City.  The US$100 million (SAR 376 million) loan, secured on Sunday, has a duration of seven years and three...

The company posted an operating profit of US$1bn.

Dubai, UAE--Global assets invested in exchange-traded funds (ETFs) tied to the spot price of bitcoin now total US$4.16 billion, showed data by CoinGecko, a cryptocurrency data and analysis company. According to a few media reports nearly half of that sum, or $2 billion, is invested in the seven spot bitcoin...

The bank’s revenues rose 22 percent to US$39.9 billion.

Muscat, Oman -- Foreign assets at the Central Bank of Oman (CBO) grew by 27.4 percent to RO 6.855 billion ($17.88 billion) by the end of July 2023, compared to the corresponding period in 2022 data issued by the National Centre for Statistics and Information (NCSI) show. Initial data issued...

According to the company's liquidator, Su Zhu was detained at Singapore's Changi airport while trying to leave the city-state. He was one of the co-founders of collapsed cryptocurrency hedge fund Three Arrows Capital. The company filed for bankruptcy last year when its fortunes suffered a sharp decline after a massive...

Riyadh, Saudi Arabia -- Assets held by the Saudi Central Bank (SAMA) declined by SAR 24 billion ($6.39 billion) month-on-month (MoM) to SAR 1.76 trillion in August. When compared to August 2022, SAMA’s assets fell by around SAR 229.2 billion, according to data released by SAMA, Argaam reported. SAMA’s investments...

TEHRAN, IRAN  – The foreign minister of Qatar said the procedures for the transfer of Iran’s unfrozen foreign assets to Qatari banks will be finalized within the next week. Qatari Foreign Minister Sheikh Mohammed Bin Abdulrahman al-Thani made the comments in a telephonic conversation with his Iranian counterpart Hossein Amirabdollahian...

Riyadh, Saudi Arabia -- The total assets under management (AUM) held by capital market institutions licensed by Saudi Arabia’s Capital Market Authority (CMA) rose 7 percent, or SAR 53 billion ($14 billion), quarter-on-quarter (QoQ) to SAR 823.6 billion in Q2 2023, according to the authority’s data. The total AUM held...

Washington, US - The REPO (Russian Elites, Proxies and Oligarchs) task force, set up to search and freeze Russia-related assets, estimates the overall value of sovereign Russian assets, blocked by the West, at $280 billion. “The total value of assets <…> is estimated at around $280 billion, the majority of which is held in the European Union,” the US Department of the Treasury...

TEHRAN, IRAN   – Iran President Ebrahim Raisi on Tuesday said that the country’s money is only blocked in South Korea and that all other foreign assets are at the Central Bank of Iran’s disposal. “We have already made it clear that the only blocked money was in South Korea. In...

Tehran, Iran -- Iran has expressed its readiness to finalize the provisions of a strategic document on comprehensive cooperation with Oman. In a telephonic conversation, Iranian Foreign Minister Hossein Amirabdollahian and his Omani counterpart Sayyid Badr Albusaidi exchanged views on issues of mutual interest in bilateral, regional and international arenas....

DIFC provides a platform for AB to expand its wings.

A former assistant of Riad Salameh, the governor of Lebanon's central bank, has been charged with money laundering by France. Last year, France, Germany and Luxembourg seized assets worth $130mn in a move linked to a probe into Salameh's wealth. He is accused of having amassed a fortune during his...

Abu Dhabi, UAE--Gross assets of the Sharia-compliant banks in the UAE climbed to $177 billion by the end of the first quarter of 2023, an annual increase of 7.31 percent against about $165 billion in March 2022, according to figures by the Central Bank of the UAE (CBUAE). The apex...

In its UAE Monetary, Banking, and Financial Markets Developments Report for Q1, which provides insights into the monetary and banking activities, the Central Bank of UAE said its foreign assets increased by 8.8 percent to reach $146.3 billion.

Lebanon has received an Interpol red notice requesting the arrest of central bank governor Riad Salameh after a French magistrate issued a warrant this week, a judicial official said. Salameh, 72, has been the target of a series of judicial investigations both at home and abroad on allegations including fraud,...

The move aims to foster compliance and business activity, with special exemptions for Free Zone transactions and small enterprises.

It will acquire a portfolio of towers in Europe for US$1.3bn.

Gross assets of the Islamic banks operating in the country increased to AED620.9 billion as of the end of January 2023, an annual increase of 5.6 percent, equivalent to nearly AED31.2 billion, as against nearly AED589.7 billion in January 2022, the Central Bank of UAE said.

ABU DHABI, UAE - Abu Dhabi Securities Exchange (ADX) has appointed Emirates NBD Capital as a custodian. Emirates NBD Capital obtained its custody licence from the UAE Securities and Commodities Authority (SCA). Emirates NBD Capital is the global investment banking arm of Emirates NBD, a leading banking group in the...

DUBAI, UAE -  Dubai International Financial Center (DIFC) continued to grow at a record-breaking pace in 2022 with the number of active registered companies rising 20 percent from 3,644 in 2021 to 4,377 in 2022. New companies registered in DIFC in 2022 surpassed the annual milestone of 1,000 for the...

Creating a coherent ESG policy is perhaps one of the biggest challenges for the region, which is heavily reliant on hydrocarbons, says an expert.

The boost is seen as key for its long-term growth plans.

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) announced that gross banks’ assets, including bankers’ acceptances, increased by 0.7 percent, rising from $983 billion at the end of October 2022 to $988 billion at the end of November 2022. According to figures published in CBUAE's November summary...

European investigators began questioning high-profile witnesses in Lebanon as part of a probe into central bank governor Riad Salameh's wealth, a judicial official said. The long-serving central bank chief is among top officials widely blamed for Lebanon's unprecedented economic crisis, dubbed one of the worst globally in recent modern history...

According to the Apex Bank, Islamic banks' credit climbed by 5.7 percent year-on-year to $108 billion by the end of last October.

The contribution of financial companies operating from DIFC to the financial services sector in the country exceeded 13% of the nominal GDP of Dubai during 2021, Amiri said.

Doha, Qatar-- Qatar Financial Centre (QFC) is managing assets worth $28.3 billion and has more than 1,500 local and global enterprises operating in the financial and non-financial sectors. This was disclosed by Chief Executive Officer of QFC Yousuf Mohamed Al Jaida in an interview to the media. Al Jaida said...

Seoul, South Korea-- Seoul and Washington are discussing joint planning and exercises involving US nuclear assets to counter growing threats from the nuclear-armed North, South Korean President Yoon Suk-yeol has said. In an interview with the Chosun Ilbo newspaper published Monday, Yoon said the United States' existing "nuclear umbrella" and "extended...

Cairo, Egypt--Egypt’s President Abdel Fattah El-Sisi on Thursday approved a document outlining 62 economic activities the state will withdraw from and turn over the private sector, a cabinet statement said. The document’s approval was required by the International Monetary Fund, which this month approved a 46-month, $3 billion financial support...

The banks said in two separate regulatory announcements that all assets and liabilities of HSBC Oman will be transferred to Sohar International.

It will sell 10% of its stake, amounting to 12m shares.

Riyadh, Saudi Arabia— Egypt's Sovereign Fund has accumulated assets worth $621-660 million as it seeks to double it by the same size next year. The CEO of the fund, Ayman Soliman, said that the issued capital of the fund has been fully covered at $5 billion. The fund's financing sources,...

Investment funds hold both local and foreign assets.

The growth in total bank deposits was due to the rise in resident deposits by 2.6% and non-resident deposits by 2.0%.

For the first time in more than five years, assets of Saudi Arabia's central bank have shot up to $535 billion, according to data shared by the central bank on its website.

A total of 74 listed companies listed in the Abu Dhabi Securities Exchange (ADX) accounted for 59.8 percent of total assets, valued at $771 billion at the end of June 2022.

The total premiums of insurance companies listed in local financial markets in the first half of 2022 increased by 7.64 percent year-on-year to $302 million while their net profits totaled $222 million.

Total assets of the 22 national banks rose to US$816.8 billion (AED 3.023 trillion) in the first five months of 2022, up four percent from US$31.9 billion (AED 117.3 billion), according to latest statistics released by the UAE Central Bank (CBUAE).

UAE’s central bank said Monday that gross banks’ assets, including bankers’ acceptances, rose to AED3.44 trillion ($936 billion) at the end of May 2022, an increase of 2.9 percent over AED3.34 trillion at the end of April 2022. In its report on the Monetary & Banking Developments for May 2022,...

The net foreign assets of Saudi central bank rose by SR4.0 billion ($1.07 billion) to SR1.63 trillion in April, according to the data published on the website of SAMA. The kingdom's net foreign assets increased by 0.2 percent from SR1.63 trillion in March. Over the same period, the central bank's...