Americana Restaurants posts profit.
The annual net profit in 2022 was US$470 million.
Inequality widens in Britain as financial sector salaries increase
Salaries in Britain's financial sector have surged in recent months, widening inequality amid the nation's cost-of-living crisis, a study showed Wednesday. Average monthly pay in the industry jumped 31 percent in February from December 2019, propelled by high-earners, the Institute for Fiscal studies (IFS) said in a report. The performance,...EDB reaffirms its commitment to financial inclusion in the UAE
The Emirates Development Bank (EDB) has restated its commitment to financial inclusion in the UAE with a range of financial solutions and services that enhance the profitability of the country’s SMEs and startups. On the occasion of Arab Day for Financial Inclusion, which is celebrated on April 27 of each...UNRWA may end services to refugees due to funding crunch
United Nations Relief and Works Agency for Palestine Refugees (UNRWA) is facing a financial implosion for the last 10 years, which could cause an interruption or end of services to five million refugees.Fintech giant Stripe allows Twitter stars earn cryptocurrency
Online payments giant Stripe on Friday said it will start letting Twitter stars get paid in a dollar-pegged form of cryptocurrency in the latest endorsement of digital money.Al Seer Marine signs VLGC deal
Al Seer Marine and BGN International sign the $134 million financial transaction.UN says Lebanon child vaccination rates drop 30%
Child vaccination rates in Lebanon have dropped by more than 30 percent, compounding a health crisis marked by drug shortages and an exodus of trained professionals, the United Nations said Wednesday.SAMA starts consumer microfinance licenses in kingdom
The Saudi Central Bank, or SAMA, has launched licenses for consumer microfinance operations in the Kingdom. This follows the bank’s announcement of the third license for a consumer microfinance company in the Kingdom, Sulfah. Microfinance targets individuals and small businesses, including self-employed people, who may otherwise lack access to banking...UAE, UK hold technical workshops on illicit finance threats and risks
UAE and UK authorities met for a series of technical workshops in March 2022 in both Abu Dhabi and London to share information on issues of mutual concern and enable participants to better understand illicit finance risks, threats, and typologies. The workshops were held under the UAE-UK Partnership to Tackle...France donates $5.5m to Jordan for a development project
The Jordan Education for Employment (JEFE) organization and the French Development Agency on Saturday signed a grant agreement worth 5 million euros to launch the "Ilhamy" (my inspiration) project.DFM, DME to jointly explore financial products opportunities
The Dubai Financial Market (DFM) and Dubai Mercantile Exchange (DME) will jointly explore financial products opportunities following the signing of an agreement, which will cater to DFM’s large and diversified investor base of over 852,000 investors. As the first initiative under this agreement, the two exchanges are planning to create...Palestinian National Authority urges EU to resume financial support
Palestinian National Authority has urged the European Union to overcome technical and other obstacles and resume financial support for the Palestinian Authority in light of the decline in international aid during the past years. This was discussed at a meeting between European Union’s Commissioner for Neighborhood Policy and Enlargement Oliver...Chinese companies threatened with delisting on Wall Street
Five Chinese companies have been ordered to comply with audit requirements by the US Securities and Exchange Commission (SEC) or face delisting from Wall Street. The initial group of companies named on a list published by the SEC on Thursday, could soon be followed by all Chinese companies listed in...Masdar City, Mashreq Bank to provide financial services to SMEs, start-ups
Masdar City and Mashreq Bank have signed a Memorandum of Understanding (MoU) to provide financial services to Small and Medium-sized Enterprises (SMEs) and start-ups based in the city. This will include easy access to NeoBiz, the bank's first digital banking platform designed specifically for start-ups and SMEs. The MoU was...Spain’s former king Juan Carlos to stay in UAE: Royal family
Spain's former king Juan Carlos said he will stay in Abu Dhabi despite the closure of investigations into his financial dealings that led to his self-imposed exile in the UAE, the Spanish royal family announced on Monday. "For now, I prefer for personal reasons which concern nobody but myself, to...Toolkit launched to help business fight illegal wildlife trade funding
The government of the UAE has worked with the UK government to launch a toolkit to support financial institutions in tackling illicit financial flows in Illegal Wildlife Trade (IWT). Ahmed Ali Al Sayegh, UAE Minister of State, has partnered with UK Minister Lord Tariq Ahmad of Wimbledon to launch the...Former Nissan boss refuses to fade away into oblivion
From his shock detention to an audacious escape from Japan hidden in an audio-equipment box, the rollercoaster saga of former Nissan boss Carlos Ghosn has grabbed headlines worldwide.TAQA to recommend $600m dividend
The company has already paid $500m in quarterly dividends.Dubai International Financial Center launches AI, UAE’s first coding license
Companies holding the license will be able to work within a stimulating environment at the DIFC Innovation Hub.GFH of Bahrain to list on Tadawul
Bahrain-based Islamic investment bank GFH Financial Group intends to list on the Saudi stock exchange, Tadawul, and Abu Dhabi Securities Exchange, ADX, according to media reports.Humanity vs Technology
Artificial intelligence and machine learning are stirring as much of a concern about job security as they are steering efficient outcome strategies.Tibbiyah closes IPO at $22 million
Fully owned by Al Faisaliah Group, Tibbiyah is a leading healthcare provider in Saudi Arabia and the region.Kamco Invest net profit $34m
Total revenue nearly doubles to reach $99.5m in 2021.UAE to allow cooperative associations to trade in markets
The UAE has announced that it will allow cooperative associations to trade their shares in financial markets, according to media reports.Venture capital invests $548m in Saudi start-ups
The investment spans several sectors including e-commerce, financial technology, education and transportationDubai International Financial Centre records best performance in 17 years
Dubai International Financial Centre (DIFC) has reported its best annual performance to date, recording its highest ever annual revenue and operating profit besides the highest ever company registrations. DIFC said it achieved its 2024 Strategy growth targets three years ahead of schedule during the first half of 2021. The Centre...East Pipes to list on TASI
The offer comprised a total of 6.3 million shares.Milaha 2021 profit $199m
The company's profit in 2020 was $16.20 million.Dana Gas posts $317m profit
The company's revenue rose 30 percent to $452 million in 2021.Qatar Industrial Co. posts net profit of $38m in 2021
Qatar Industrial Manufacturing Co. has reported a net profit of $38m for 2021 in comparison to net profit of $23m for the same period of the previous year.Students struggle as Lebanon crisis cripples university sector
University expenses are now beyond the reach of most Lebanese students, with their country in the throes of a financial, political and health crisis that has ravaged its economy.Abu Dhabi Global Market to begin Monday-Friday workweek from Jan 1
Abu Dhabi Global Market (ADGM) has announced that it will commence a Monday to Friday working week from 1 January 2022, with Saturday and Sunday as the universal weekend. ADGM said in a statement that the new working week brings the emirate's business community and financial sector closer to global...Emirates Health Services to upgrade executive regulations
The Emirates Health Services (EHS) is looking to upgrade executive and financial regulations and ways to develop the capabilities of health cadres and proactive and integrated health services.Iraq, Turkey discuss financial and banking relations
Governor of Central Bank of Iraq called on his Turkish counterpart, to "provide facilities to Iraqi banks in a way that facilitates the settlement of the trade balance between the two countries.”UAE enters into cooperation with Indonesian sovereign fund
The United Arab Emirates and Indonesia’s State Wealth Fund has signed a new agreement to allow funds from the former to invest in a variety of high-yielding financial products, according to media reports.UAE Central Bank to do away with Covid stimulus measures
The Central Bank of the United Arab Emirates has decided to gradually do away with all the stimulus measures introduced in the wake of the outbreak of the Covid infection in the country.Saudi telecom firm stc gets higher rating from Moody’s for ‘strong financial metrics’
Moody’s, the bond credit rating firm, has upgraded the Baseline Credit Assessment (BCA) of Saudi Arabia’s stc, saying it has maintained “very strong financial metrics.No end to Lebanese woes as new govt. hikes gasoline price
If the Lebanese were expecting a measure of relief from the new Mikati government, they were badly disappointed. The government hiked the price of gasoline, cutting a subsidy that Prime Minister has said the country cannot afford.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.Saudi banks net profit up to $2.94bn in Q2
In a sign of economic rebound in Saudi Arabia, banks in the kingdom are reporting better than expected financial results for the second quarter, after a slump in business during the Covid pandemic.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.Saudi Central Bank has a plan to create 200,000 jobs
If the Saudi Central Bank’s (SAMA) plan to increase the number of locals working in the financial sector succeeds, it could end up creating nearly 200,000 jobs for Saudi citizens.Qatari investor in Deutsche Bank feels European banks should merge
*Sheikh Hamad feels it is the only way to take on US and Chinese globally *He is one of the German lender’s largest shareholders Qatari investor in Deutsche Bank AG, Sheikh Hamad bin Jassim bin Jabor Al Thani, has appealed to European financial services to merge in order to take...