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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 […]
Uber-owned ride-hailing firm Careem announced a spinout on Monday with significant support from both its parent business and a new source. With a $400 million investment, the tech holding company e&, formerly Etisalat, based in Abu Dhabi, United Arab Emirates, has entered into a legally binding deal with Uber Technologies to purchase a 50.03% majority […]
The operating earnings of the Dubai Integrated Economic Zones Authority (DIEZ) increased by 42% in 2022. In comparison to 2021, its overall sales increased by 29% last year. By providing a cutting-edge multimedia ecology, a global network, and comprehensive solutions, the DIEZ seeks to reinforce Dubai’s status as a top global hub. The increased financial […]
The private sector will receive investments totaling SR192.4 billion ($51 billion) through Saudi Arabia’s Shareek programme. The investments, which were unveiled in the presence of Crown Prince, Prime Minister, and Chairman of the Big Businesses Investment Committee Mohammed bin Salman bin Abdulaziz, are the first stage of Shareek’s anticipated SR5tn ($1.3tn) initiative. The Shareek programme […]
Edge, an AE defense and technology business, wrapped up fruitful participation at IDEX 2023 by signing new contracts totalling $5 billion (AED18.6 billion). During IDEX 2023, Edge unveiled 14 new products, 11 of which were ground-breaking autonomous and unmanned technologies and solutions. AED4 billion of the AED18.6 billion in contracts were for overseas exports, and […]
The 4th Annual Business Tabloid Awards, conducted at Atlantis The Palm, Dubai, UAE, on the 19th of January, 2023 witnessed a wonderful gathering of global award winners from the best organizations of the world. One of the esteemed participants, Vantage Markets bagged the Best CFD Broker 2022 award. Business Tabloid was proud and honored to […]
The 4th Annual Business Tabloid Awards, conducted at Atlantis The Palm, Dubai, UAE, on the 19th of January, 2023 witnessed a wonderful gathering of global award winners from the best organizations of the world. One of the esteemed participants, GCC Exchange bagged the Fastest Growing Remittance Service Provider 2022 award. Business Tabloid was proud and […]
