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Amanat FY 2023 revenue $195m
The company's revenue grew by 40 percent year-on-year.
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UAE, Tanzania sign pact to avoid double taxation
UAE and Tanzania have signed an agreement for avoiding double taxation and preventing tax evasion. -
UAE takes part in financial group meeting in Indonesia
The UAE recently participated in the fifth International Financial Architecture (IFA) Working Group meeting within the G20 Finance Track for 2022, which was held in a hybrid format. -
Raydan to cut capital by 53%
The food company will reduce the capital to $42.13 million. -
UAE stocks post gain of US$2.72bn in market cap
The UAE financial markets on Wednesday posted gains of over US$2.72 billion (AED10.billion) in market cap driven by upbeat sentiments at the realty, banking, telecom sectors and cash inflows by institutions and individuals. -
Policies, infra make Dubai hub for talent, innovation
For decades, the emirate has been a global player with a plethora of capital, talent, corporate tax incentives and ground-breaking technologies, says the latest BCG report. -
QAMCO profit rises by 112%
The company's net profit rose to $164 million in H1 of 2022. -
There’s light at the end of the tunnel for tech stocks
However, there are numerous economic sectors where tech penetration remains in its infancy, such as in logistics, e-commerce and supply chains, which retain enormous growth potential irrespective of recession risks, and in many cases can be accelerated by cost concerns, Deschamps adds. -
Saudi VC investments post 244% jump to $584m in H1
Venture capital investments in Saudi Arabia have posted a staggering 244 percent increase to $584 million in the first half of 2022. -
Investments in Saudi startups grow by 244 percent in H1 2022
Investments in Saudi startups grew by 244 percent to a record high of SAR 2.19 billion ($584 million) in the first half of 2022 compared to the same period in 2021. In fact, the investments in the first half of 2022 surpassed the total investments in 2021, according to a... -
Indian rupee slides to new low against dollar, touches 80
The Indian rupee fell to more than 80 per US dollar for the first time on record Tuesday, as the greenback extended its rally and foreign capital outflows intensified. -
SVC to invest in Venture Debt Fund
The fund will offer venture debt tools to startups and SMEs. -
Saudi telco to raise capital by 150%
Bonus shares to be granted by capitalizing $7.9 bn from retained earnings. -
ADQ of Abu Dhabi and Jordan set up venture capital fund
ADQ of Abu Dhabi and Jordan have set up a $100 million technology venture capital fund (the Fund) to bolster tech companies in the kingdom's digital economy. ADQ is reinforcing its commitment to investing in advancing core sectors of the Jordanian economy and enhancing the global technology ecosystem. The Fund... -
Central Bank of Iraq increases its capital to $3.42 billion
The Central Bank of Iraq has announced an increase in its capital to 5 trillion dinars ($3.42 billion) Iraqi media reports said recently that the bank decided to its capital from 3 trillion dinars to 5 trillion dinars. "This increase comes to enhance the results of its balanced policies with... -
Alpha Dhabi to invest $2.5 bn in Chimera
The fund will target investments in tech-enabled businesses. -
GCC IPOs raise $4.8bn in 2022, outpacing Europe
May Nasrallah, founder of deNovo, tells TRENDS the new listings on GCC bourses have spawned a new chapter in regional listings, ending years of drought. -
First commercial flight in six years leaves Yemen’s capital
The first commercial flight in nearly six years took off from Yemen's rebel-held capital on Monday, a major step forward in a peace process that has provided rare relief from conflict. The Yemenia plane carrying 126 passengers, including hospital patients needing treatment abroad and their relatives, took off from Sanaa... -
Saudi Re endorses capital hike
The hike to SR1.336bn will be used to fund expansion plans. -
A $40m fund set up in KSA
Al Moammar and Saudi Fransi Capital sets up a private fund. -
Emirates Development Bank to facilitate $8.16 bn in lending by 2025
Emirates Development Bank (EDB) has said it will facilitate direct and indirect lending totaling AED30 billion ($8.16 billion) by 2025, which is expected to support more than 13,500 companies. At its first Board meeting of 2022, the bank said the record growth over the past 12 months demonstrated the success... -
Saudi private equity, capital growth doubled in five years : Al Quwaiz
Private equity and capital growth in Saudi Arabia has reached SR12 billion ($3.2 billion), Mohammad Al-Quwaiz, chairman of the board of the Capital Market Authority said. He noted that the growth has doubled in the last five years. Al-Quwaiz was speaking at the Global Entrepreneurship Congress 2022 in Riyadh. He... -
ADQ and Turkey Wealth Fund set up a venture capital fund
ADQ of Abu Dhabi has partnered with Turkey Wealth Fund to launch Turkey Technology Fund that will invest in venture capital funds and high-growth potential companies in Turkey. -
Amiantit appoints new CEO
Feras Bin Ghassab Al-Harbi has held several leadership positions. -
Do structural reforms attract FDI?
As regional bourses aim to compete with developed markets, questions are also being raised over the state of reforms, the future of regulation in the region. -
The board of Al Rajhi Bank favors capital hike to $10.7bn
Al Rajhi Bank has recommended a sixty percent increase in the bank’s capital to $10.7 billion. -
Council of Arab Ministers declares Muscat Arab Digital Capital for 2022
Oman's capital Muscat will be the Arab Digital Capital for 2022, the Council of Arab Ministers for Communications and Information has announced following a decision at the 25thsession of the Arab minister's council. The event was hosted via videoconferencing by the Arab League’s technical secretariat general of Arab Ministers of... -
Saudi Arabia launches its first women’s football league
The league is a part of the federation’s 2017 program to support women's football. -
Egypt questions new desert capital and its costs
Egypt President Abdel Fattah al-Sisi is building a new capital, whose construction costs are already under a microscope. -
Iraqi security forces clash with pro-Iran protesters
Hundreds of supporters of pro-Iran groups clashed with security forces in Iraq's capital on Friday, expressing their fury over last month's election result, AFP journalists and a security source said. -
560 foreign firms operate in Al Wusta governorate of Oman: Official
As many as 560 foreign companies are operating in the Omani governorate of Al Wusta and their capital investments by the end of September 2021 reached Omani Riyal 1.3 billion ($3.37 billion), an official said. Abdoon Mohammed Al Harsoosi, Director of Commerce, Industry and Investment Promotion inaaaa Al Wusta, said... -
East Pipes Integrated plans IPO
The Saudi Arabia-based company gets approval to float 6.3 million shares. -
Kuwait Touristic to raise capital to $996m to boost tourism
Kuwait is looking to revitalize its tourism industry, and in this regard Kuwait Touristic Enterprises plans to increase its capital to $996 million. -
Wataniya Insurance to raise $53.3m through a rights issue
Wataniya Insurance Company’s board of directors has recommended to increase the company’s capital through a $53.3 million rights issue, according to a bourse filing. -
Shuaa Capital CEO now owns 30 percent of the firm
The CEO of the UAE-based Shuaa Capital has bought 57, 966, 523 shares in the financial firm, taking his personal stake close to 30 percent in the company. -
Emaar EC eyes $3bn capital hike
Its board of directors has okayed a 33% hike in its capital. -
Mubadala Capital closes fund after raising $1.6 billion
The Fund III is focused on direct investments in North America and Europe in media, sports and entertainment, consumer and food services, financial and Industrial services. Mubadala manages $9 billion of assets in third-party managed funds across its private equity, public equities and venture capital. -
SVC provides 75 startups with nearly $250m
Saudi Venture Capital Company (SVC) has funded nearly 75 startups since its birth in 2018, providing them with about $250 million. -
DIB ups foreign ownership limit to 40 percent
Group CEO says the bank geared towards benefitting from the re-opening of the Dubai economy post Covid-19 pandemic. -
Emirates NBD’s first half profit rises 17% to Dh4.8 billion
Total income of the Dubai’s largest bank has jumped 9 percent over the preceding half year due to a marked increase in transactions and stable Net Interest Margins. -
Dubai’s Shuaa plans SPACs worth $600 million
Shuaa Capital plans to set up three blank-check companies of around $200 million each. -
DP World acquires US logistics firm sycreon for $1.2b
Deal expected to close in the second half of 2021 World says it continues to make progress on its capital recycling programs Dubai Ports World has announced the acquisition of 100 percent of syncreon, a US-based supply chains provider, for an enterprise value of $1.2 billion. The deal is expected... -
Saudi Arabia’s Bank Aljazira taps into debt market
Saudi Arabia’s Bank Aljazira will issue US-denominated capital certificates that could reach up to $500 million, the Saudi bank said in a bourse filing. The sale, conducted through a Cayman Islands-registered vehicle, will only be available to pre-selected investors in a private placement, and the certificates are redeemable after five... -
STV takes part in 30 percent of all Saudi start-up funding rounds
The company also took part in 20 percent startup funding in the Middle East -
Riyadh to become advertising capital of the Middle East: Sorrell
The WPP, the company Sorrell founded in 1985 has become the biggest advertising and communications group in the world The advertising marketing industry has shifted from Beirut to Dubai, and now to Riyadh Sir Martin Sorrell, the noted adman who founded the largest agency in the world, has forecast Riyadh... -
SFD signs a $10m export financing agreement with the National Bank of Iraq
SFD has signed an export financing agreement with the National Bank of Iraq to provide credit facilities to help importers in Iraq The National Bank of Iraq a subsidiary of the Capital Bank Group Iraqi importers who seek to import Saudi products and services are getting a $10-million leg-up...