The bank is bucking the trend of Additional Tier 1 bond issued There have been relatively few senior bond sales from banks this year in the Middle East Although there have been very few senior bond sales from banks in the Middle East, with the focus being mainly on Additional...

Saudi Arabia looks to dominate the dates industry It wants to establish itself as the primary source of dates for the world Saudi Arabia aims to expand and establish itself as the world’s first source for dates, and to achieve the preeminence in the dates industry its National Center for...

The funding round was led by US investor Rubix The latest capital infusion will help the firm improve its operations Online learning may not be an ideal tool to impart education, but it sure is finding investors to fund the space. Jordanian online learning management platform Edunation has raised $3...

Floward, founded in 2017, offers same-day delivery for fresh-cut flowers The firm also announced an expansion to the UK late last year A small online flower and gift delivery firm, Floward, has attracted quite a bit of attention in the financial circles of the Middle East by raising nearly $28...

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...

Under the deal, Beehive will provide $8.16 million as loans to qualified businesses Beehive uses crowdfunding to connect small businesses to retail investors Emirates Development Bank (EDB) has signed a deal with a Dubai-based peer-to-peer platform to give small to medium-sized enterprises (SMEs) more funding options. Under the deal, Dubai’s...

Annual growth in eCommerce market expected to grow by more than 6 percent Currently, only 15 to 20 percent of orders are collected at a physical location operated by courier companies Online buying has been growing in Saudi Arabia in recent years at such speed that it is now estimated...

Minimo VFX  CEO Felix Balbas said that his company would open a regional headquarters in Riyadh The studio will enter into a joint partnership with a local company Minimo VFX, the Spanish film studio, is going to make an investment of $250 million in Saudi Arabia through a joint venture...

    The loan will be used for lending to small enterprises The lending is expected to drive the country's path to recovery   The OPEC Fund for International Development (OFID) has granted a $10 million private sector loan agreement with the Bank of Maldives, state news agency WAM reported....

New partnership would help create more jobs for Saudis in the Kingdom’s pharmaceuticals sector The partnership is in keeping with Saudi vision to diversify its economy away from oil Saudi Chemical Company Holding (SCCH) and GlaxoSmithKline have entered into a partnership to make pharmaceutical products in Saudi Arabia. SCCH unit...

Qatari bank will pick up fifteen percent stake for $128 million Banks generally try to keep a majority stake in a rival lender because a minority stake is seen as punitive for capital under Basel III Qatar’s Commercial Bank disclosed on Thursday it has made an offer to buy an...

  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...

ADNOC has announced it will offer up approximately 375 million shares of ADNOC Distribution The shares are being offered at AED4.36 apiece   The Abu Dhabi National Oil Company announced on Wednesday that it would offer up approximately 375 million shares. ADNOC, along with its subsidiaries, currently holds around 80...

The aim of the mission is to take a complete picture of Mars’ lower and upper atmospheres The Hope will study the Martian atmosphere, the relationship between the upper layer and lower layer The Emirates Mars Mission (EMM), the first such exploration undertaken by an Arab nation, today said the...

The company will use its existing cash balance to buy back shares over the next 12 months It also quashes allegations of manipulating operating or financial data on the Yalla app   Social media platform Yalla’s parent company Yalla Group Limited announced on Friday, May 21, that it would buy...