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...

An Egyptian emergency court on Sunday sentenced former presidential candidate Abdelmoneim Aboul Fotouh to 15 years in prison for "spreading false news" and "incitement against state institutions", judiciary sources said.

Global environmental, social, and governance assets are expected to hit $41 trillion by the end of this year, and $50 trillion by 2025, Yasir Al-Rumayyan, governor of the Saudi sovereign fund said. The growth in assets is due to the fact that Public Investment Fund continues to enhance ESG integration...

The company will sell its business in the increasingly isolated country.

The lightning uptake of crypto assets like bitcoin had swelled a volatile sector to a valuation of roughly two trillion dollars recently. A week-long rout has wiped away tens of billions of dollars from that value and spread panic throughout the market.  Bitcoin blues Bitcoin is the premier cryptocurrency and...

The Abu Dhabi company has posted $970m profit.

Revenues stood at AED8.17 billion, a year-on-year increase of 700 percent.

The EU should confiscate and sell Russian assets it has seized and use the proceeds to rebuild war-scarred Ukraine, EU chief Charles Michel said in an interview published Thursday. He was the first high-ranking EU official to propose the confiscation of oligarchs' assets.

The bank said it continued to maintain a strong liquidity.

Total assets by the end of March grew by 8.7 percent YOY.

Abu Dhabi has allowed Binance, the world’s leading blockchain and cryptocurrency infrastructure provider, to operate as a broker-dealer in virtual assets in the emirate. Abu Dhabi Global Market (ADGM) introduced the world’s first comprehensive and robust virtual asset regulatory framework in 2018.

Incumbent brands need small-brand deals to recapture top-line growth and boost total shareholder return. While challenging to get right, these acquisitions can deliver substantial value. Success requires a clear understanding of what makes insurgent assets unique, he adds.

Nations and their companies have axed business ties with Russia over Ukraine.

The European Court of Justice ruled Wednesday in favor of the family of late Egyptian president Hosni Mubarak and confirmed the unfreezing of assets blocked over a decade ago. The European Union had decided in March last year to end sanctions it had imposed on Mubarak, his wife, two sons...

Oil platforms, pipelines, coal power plants and other fossil fuel assets could lose trillions of dollars in the battle against climate change in the coming decades, experts say. The warning was issued in a 3,000-page report by UN experts who said fossil fuel assets must be retired and replaced with...

Shareholders of Waha Capital have approved a cash dividend of 7.55 fils per share and a stock dividend of 2.45 percent. Waleed Al Mokarrab Al Muhairi, Chairman of Waha Capital, said Waha Capital continues to demonstrate strong financial and operating performance, which was reflected in the significant increase to our...

France, Germany and Luxembourg have seized properties and frozen assets worth 120 million euros ($130 million) in a major operation linked to money laundering in Lebanon, the EU's justice agency said Monday. "Five properties in Germany and France were seized as well as several bank accounts," were frozen, Eurojust said...

The value of the Egyptian pound shed 13 percent against the US dollar on Monday, registering 17.80 pounds against the greenback after a recent rise in inflation.

In the middle of a bazaar in western Afghanistan, Arezo Akrimi takes out her smartphone and, after a few taps of the screen, changes some cryptocurrency for a bundle of hard cash. Arezo, 19, is one of a hundred students in Herat receiving around $200 a month in cryptocurrency since...

Shareholders of Ithmaar Holding have approved a plan to sell a few of the company's assets to Al Salam Bank.

Dubai has promulgated a new law in order to regulate virtual assets that are becoming popular with many investors in the UAE and across the world.

The group’s net profit stood at AED216 million in 2021.

With more ESG marketing claims questioned by clients, asset and wealth management firms can no longer tout ESG without convincing evidence. The solution to this strategic challenge lies in prioritizing ESG factors for specific target clients and building an operating model that reliably quantifies the impact on those factors, they...

Amir Khan Muttaqi, a key member of the Taliban leadership, met in Doha with ambassadors from the six-nation GCC on the first full day of his latest mission.

The bank's assets reach a record AED114 billion: CEO

Emirates Islamic’s net profit jumped to AED 823 million ($224 million) for 2021 on higher non-funded income and a significant reduction in the cost of risk reflecting the strong economic recovery, the bank said. The bank, which is one of four Islamic banks in Dubai, said in a statement that...

EWEC will supply clean energy to all Aldar owned and managed assets.

The assets of Jordan's Social Security Investment Fund (SSIF), the investment arm of the Social Security Corporation (SSC), jumped by JD1.1 billion in 2021 to reach JD12.3 billion, according to Kholoud Saqqaf, the fund’s CEO. The figures mark a 10-percent growth year-on-year. In 2020, the fund’s assets stood at JD11.2...

Poland's state-owned refiner PKN Orlen announced Wednesday plans to sell oil assets to Saudi Aramco and Hungary's MOL in order to meet EU conditions for its merger with domestic rival Grupa Lotos. Saudi Aramco will buy a stake in Lotos's refinery and MOL will purchase several hundred Lotos petrol stations...

Central Bank will acquire the Societe Generale Bank Jordan.

To avoid giving the Taliban access to Afghanistan's reserves, Washington froze an estimated $10 billion held by the central bank abroad after the Taliban seized power on August 15.

Gulf Capital, a UAE-based financial institution, has added Abu Dhabi and Dubai to the list of potential markets for the initial public offerings for one of its assets in 2022.

The company said losses due to IPO-related issues and payments.

The Capital Market Authority (CMA) of Saudi Arabia allowed the financial market institutions to accept the subscriptions of non-Saudis in the real estate funds that invests in assets within the boundaries of Makkah and Madinah.

The firm expects the assets to reach $500m within three years.

The bank suffered a net loss of KD 7.9 mn in first nine months of 2020.

Higher non-funded income, reduction in the cost of risk push profits up.

Abu Dhabi-based virtual asset trading platform has traded in Bitcoin, Ethereum, Litecoin, etc.

The UAE banking sector has posted a moderate yearly growth of 0.6 percent with total assets reaching US$873.6 billion, or AED3.2 trn, by the end of second quarter of 2021.

Saudi Central Bank’s (SAMA) net foreign assets suffered a $4.4 billion drop in July, SAMA data showed on Sunday.

Besides wooing $74 billion investments, the oil giant has helped the country gain the top position in the Middle East on Kearney's FDI index in 2021 after rising four spots globally.

This is a turnaround from H1 2020, when net loss was $1.29m.

Economic recovery in the region helps the bank post $386 million profit in the June quarter.

Aramco official says sales to continue irrespective of market conditions The company calls sales a strategy meant to create value and efficiency Saudi Aramco is planning to raise tens of billions of dollars by selling more assets in the coming years, a report said. The largest oil company in the...

The steady growth in liquidity is a new sign of the gradual economic recovery Liquid assets accounted for 15.9 percent of the total assets by the end of the reference quarter Liquid assets held by UAE-based banks increased 2.6 percent to Dh486.58 billion ($132.48 billion) in first quarter (Q1'21) from...