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Dubai-based Sukoon Insurance said it acquired UAE life insurance portfolio of Chubb Tempest Reinsurance on Tuesday, based on Zawya News report. The report mentioned the acquisition includes unit-linked life insurance and production policies as part of Sukoon’s strategy to boost its position in the market. Chubb Tempest Reinsurance focuses on specialized solutions for multifaceted risks. […]
HKT’s digital commerce platform The Club said it will partner with Richard Li backed Asian financial firm MoneyHero in order to provide financial knowledge and information to The Club members. The Club said this initiative will enable its members in selection of appropriate financial products alongside earning Clubpoints. Through The Club’s platform, the company said […]
Molecular genetics diagnostic firm Mainz Biomed N.V. entered a strategic partnership with Ärztliches Labor Dr. Buhlmann with an objective to extend its strengthened position in the German market. The company specializing in the early detection of cancer said this collaboration grants Mainz Biomed provides wider access as well as the potential for further expansion into […]
Global insurance brokerage firm Arthur J. Gallagher & Co said it will acquire UK based insurance company Lifesure Group Ltd on Tuesday. Gallagher said as part of the deal, it will also acquire Lifesure’s affiliated company Barnes Commercial, an insurance broker serving small-to-medium businesses. However, the terms of the transaction were not disclosed. Paul Reid, […]
Navigator Investment Services Ltd, an integrated investment platform rebranded its label ‘Navigator’ to GROW with Singlife with an objective to invest on technology to provide tailored services on Monday. The initiative is aimed to reaffirm its commitment to provide its clients a solid investment experience as they work towards their financial goals. The company said […]
The Ministry of Economy has suspended the operations of 50 enterprises operating within the Designated Non-Financial Businesses and Professions (DNFBP) sector in Q3 2023, for a period of three months. The action was taken due to these entities’ failure to register in the UAE’s Financial Information Unit’s goAML system, in line with the provisions of […]
Emirates Development Bank, the key financial engine of UAE’s economic development and industrial advancement, has inked a Memorandum of Understanding (MoU) to create supply chain finance and working capital solutions for SMEs in collaboration with Trade Capital Partners (TCP). In alignment with government priorities, EDB continues to deliver on its mission of fostering a healthy, […]
Aligning with Qatar’s financial sector and fintech strategy, the Qatar Central Bank (QCB) aims to regulate and develop the financial sector in the country. The apex bank has issued instructions to the insurance policy comparison sites with the aim of licensing and regulating their operations in the country. The bank has further announced that companies […]
UAE-based Al Ansari Financial Services on Monday said that, it has sent a formal proposal to acquire majority stake in one of Oman’s prominent exchange companies. But, it has not disclosed the name of the Omani company or the terms of the potential deal. The company said, it received an initial approval subject to meeting […]
Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, on Sunday launched Ministry of Finance’s strategic plan 2023-2026 for UAE. Sheikh Maktoum called it a roadmap to improve the government’s performance through financial empowerment, leadership and development. The four-year strategy of the finance ministry is […]
Arab Monetary Fund extends $615.8 million loan to support reforms in the financial and banking sector in Egypt. The sum extended within the framework of the structural adjustment facility in the financial and banking sector is equivalent to the amount of Arab accounting Dinar 153.475 million. The loan supports a reform program aiming at enhancing […]
On Monday, M&T Bank Corp. surpassed Wall Street expectations for the first quarter’s earnings as a result of the U.S. Federal Reserve’s accelerated rate hikes to manage excessive inflation. Heavyweights in U.S. banking have also benefited from greater interest payments in the first quarter, avoiding a crisis brought on by the failure of two local […]
