Tag: Saudi Arabia
Emirates NBD’s Q1 2024 profit surges 67% to AED 6.7 billion
The group’s asset base surpassed AED 900 billion as retail lending had its strongest-ever quarter and corporate lending closed landmark deals
ADNIC completes acquisition of 51% stake in Allianz Saudi Arabia
The acquisition will make ADNIC one of the Tier-1 listed insurers in Saudia Arabia
UAE’s ADCB secures banking licence from Saudi Central Bank
The bank will provide a comprehensive range of services for corporate and institutional clients, including financing and working capital solutions
Oman’s Sohar International secures Saudi banking licence
The bank’s expansion is poised to catalyse job creation, facilitate knowledge exchange, and promote skill development
Gulf International Bank raises SAR 1.5 billion from debut Tier 2 Sukuk
The bank’s Sukuk programme is aligned with its strategic objectives to facilitate balance sheet growth
Saudi Awwal Bank, Mastercard partner to offer secure digital transactions
The bank will leverage Mastercard’s advanced AI-based cybersecurity technology to prevent payment fraud
Islamic funds’ assets under management fall on rate rises
The decline was driven by investor outflow mainly due to rising interest rates and financial market volatility.
Saudi Arabia reportedly suspends talks to acquire Egypt’s United Bank
Saudi Arabia has reportedly shelved a plan by its sovereign wealth fund to acquire the United Bank of Egypt as talks with Egyptian authorities...
UAE’s ADNOC Distribution completes acquisition of 50% stake in TotalEnergies Egypt
UAE’s ADNOC Distribution said Wednesday that it has completed the acquisition of a 50% stake in TotalEnergies Marketing Egypt for approximately $186 million (EGP...
Saudi Arabia’s Hassana to invest $2.4 billion in DP World’s UAE assets
Dubai’s DP World said Wednesday that Saudi Arabia’s Hassana Investment Company (Hassana) has agreed to invest $2.4 billion in the global ports operator’s three...