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...

TUNIS, TUNISIA -  A goalkeeper at a top-flight Tunisian football club has reached Italy as a clandestine migrant, his club said Friday, as the dire economy pushes thousands into making similar journeys. "Due to the financial crisis facing the club, and difficult living conditions (in Tunisia), the goalkeeper of Avenir Sportif...

Total operating income rose 11% in 2022 compared to 2021.

Dubai, UAE---The Central Bank of UAE Sunday launched Financial Infrastructure Transformation Program (FIT program) to accelerate the digital transformation in the financial services sector. In a statement, the bank said the FIT is a step towards enabling the CBUAE to be among the top central banks globally. The program aims...

Firm confirmed its 2023 outlook amid strong aviation demand.

ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Egyptian Banking Institute (EBI) which is under the Central Bank of Egypt, discussed ways to promote cooperation in the field of training and building human capital capabilities relevant to the financial sector. This came during a meeting...

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...

MONTREAL, CANADA -  UAE Minister of Climate Change and the Environment  Mariam bint Mohammed Almheiri participated in the High-Level Segment (HLS), the second part of the 15th UN Biodiversity Conference (COP15), that took place in Montreal, Canada. The HLS, which took place from December 15-17, 2022, aimed to enable participating...

Firm fined due to gaps in anti-money laundering controls.

The UAE's Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan has said that the Gulf country is determined to forge a world where prosperity is commonplace.

The United States will provide Jordan with over US$845 million in annual financial support, officials in Amman said as the country remains heavily dependent on foreign aid. Prime Minister Bisher al-Khasawneh was present at the signing ceremony for the allocation of annual financial support of $845.1 million, a Jordanian government...

Firm's adjusted net profit grew to $16.5 million in Jan-Sep 2022.

No financial terms were disclosed of the proposed deal.

Struggling to bring down the runaway inflation, the Bank of England is expected to hike its key interest rate on Thursday by the biggest amount since 1989. The BoE is expected to lift borrowing costs by 0.75 percentage points to three percent, according to market consensus, which would be the...

Firm said it was paying the government a nine-digit sum.

Following the US withdrawal from Afghanistan, many experts believe that Washington is shifting its attention and resources to the "priority theatre" of the Indo-Pacific. But as the world recovers from the Covid-19 pandemic, the GCC countries are expected to play a more significant role in the ongoing Asianization of the global...

The Gulf countries rely heavily on assistance from Asia, particularly China, to modernise their economies and diversify away from oil.

UAE Minister of State for Financial Affairs Mohamed bin Hadi Al Hussaini met with India's Minister of Finance Nirmala Sitharaman on the sidelines of the G20 meetings in Washington.

Abu Dhabi, UAE - OneConnect Financial Technology launched Saturday its regional operations in Abu Dhabi Global Market, local media reports said. A Technology-as-a-Service provider for financial institutions, it will support fintech ecosystem and enhance digital transformation of UAE's financial services. ADGM and OneConnect worked on creating the ADGM Digital Lab,...

Riyadh, Saudi Arabia - Saudi bank loans granted to public and private sectors grew 15 percent  by the end of August to SAR 2.359 trillion ($630 billion), compared to SAR 2.049 trillion ($550 billion) a year earlier, according to the Saudi Central Bank (SAMA). Private-sector lending also increased by 15...

Dubai, UAE— Salik, Dubai toll operator, has listed on Dubai Financial Market under the name of "SALIK", after the offering was oversubscribed by 49 times. It is the third public offering and listing on the DFM in 2022 to date, as part of the accelerated steps to implement Dubai’s strategy...

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.

The Sharjah Chamber of Commerce and Industry (SCCI) has hosted a webinar in cooperation with Al Etihad Credit Bureau (AECP) to discuss the importance of AECP credit report and score for SME businesses.

At least 61 migrants drowned when a boat they boarded in Lebanon sank off Syria's coast, a Lebanese minister said, the deadliest such shipwreck from Lebanon in recent years.

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.

Faced with a winter without the energy supplies from Russia, Sweden has turned to Nordic and Baltic energy companies promising them liquidity guarantees worth billions of dollars. It is an attempt to prevent a crisis sparked by Europe’s energy crunch, leading Swedish PM to say that it was facing the...

As the world economy struggles to recover from the after-effects of the pandemic, financial markets are more volatile than ever.

The Central Bank of the UAE (CBUAE) has announced the launch of a new corporate website with various interactive digital services in promoting financial stability and meeting the aspirations of the consumers.

The Abu Dhabi Securities Exchange was the leading Arab financial market in terms of performance last week, as its index surged by 3.6 percent, and its market value by 3.03 percent, according to the Arab Monetary Fund.

H1 2022 net profit increased by 232 percent

Saudi’s Ministry of Finance and the National Center for Debt Management has partnered with Al-Ahly Financial Company to develop and launch savings bonds for individuals, and motivate them to save. This also includes discussing strategic partnerships with the private sector. The entities signed a deal regarding this, which is aimed...

According to a report by the UAE's Ministry of Economy, during the past decade from 2012 to 2021, FDIs in the country increased by 116 percent, amounting to $20.667 billion in 2021 compared to $9.566 billion in 2012.

Financial sanctions covers banks’ failures to achieve appropriate compliance regarding required due diligence and reporting procedures and standards. All banks operating in the UAE were allowed ample time by the CBUAE to implement the CRS.

The profit saw an increase of 3 percent over H1 2021.

A Joint Operations Center for Saudi Banks tasked with following up and monitoring cases of financial fraud that bank customers may be exposed to has been inaugurated by Saudi Central Bank Governor (SAMA) Dr. Fahd bin Abdullah Al-Mubarak. The center brings together all Saudi banks under one roof to improve...

European stock markets rebounded on Wednesday, recovering some ground following sharp losses the previous session on fears of a global recession. Oil prices recovered slightly, but WTI remained under $100 per barrel. The euro hit a fresh 20-year low point under $1.02 -- the European single currency fast closing in...

Europe's stocks recovered somewhat Monday as investors tentatively regained some optimism following the heavy losses in the financial markets last week on fears that rising interest rates could spark recession. London stocks won 1.1 percent at midday, while Frankfurt and Paris gained 0.5 percent and 1.0 percent respectively in afternoon...

The fund will offer venture debt tools to startups and SMEs.

Rise in prices has sharply accelerated since Russia's invasion of Ukraine in February, leading central banks to tighten their key rates sharply.

Lebanon's crumbling electricity sector has cost the country more than $40 billion since the end of its 1975-1990 civil war.

British economic output declined for the second month in a row in April, weighed down by rocketing prices that are causing a cost-of-living crisis for millions of Britons.

The profit result was "200 percent above its highest annual historical profit".

Iran and Venezuela signed a 20-year deal on cooperation between the two allies subject to US sanctions during a visit Saturday to the Islamic republic by Venezuelan President Nicolas Maduro.

The Emirates Development Bank (EDB) has teamed up with the Hamriyah Free Zone in Sharjah and the Sharjah Airport International Free Zone (SAIF) to provide financial support to small and medium-sized enterprises (SMEs) and startups operating in the free zones.

Russia said Wednesday that it will start paying its foreign debt in rubles after the United States ended an exemption allowing Moscow to make the payments in dollars held in Russia. The US Treasury announced Tuesday it was closing the escape clause to the drastic financial sanctions imposed on Moscow...

Russia's invasion of Ukraine has put financial markets under renewed stress by driving up prices and impeding growth, the European Central Bank said in a report. The war has "increased financial stability risks through its impact on virtually all aspects of economic activity", ECB vice-president Luis de Guindos said in...

Labor incomes have not yet recovered for the majority of workers. In 2021, three in five workers lived in countries where labor incomes had not returned to the level seen in Q4 2019. The gender gap in hours worked also grew during the pandemic.

Iraq's financial reserves are expected to reach $40 billion in case the current fiscal year ends without enacting a budget law, according to Mazhar Muhammad Salih, advisor to Iraq's Prime Minister Mustafa al-Kadhimi. Local media reports quoted Salih as saying that "it is not possible to pass any law by...

Acquisition of Planet Pharmacies and growth in segment ops led to growth.

Lebanese expatriates in 48 countries including France and the United Arab Emirates voted Sunday ahead of the May 15 parliamentary elections, state media reported.