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Finance
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Dubai crypto investors cautiously optimistic as confidence recovers from FTX fiasco
Cryptocurrency investors in Dubai are cautiously optimistic for the year ahead as their confidence, hit by the collapse of FTX, continues to recover ... Features -
Dubai’s BitOasis and Mastercard sign deal for crypto-linked cards
BitOasis, a Middle East-focused cryptocurrency exchange based in the United Arab Emirates, said on Tuesday it had signed an agreement with Mastercard ... Technology -
Saudi PIF starts selling debut green bonds
Saudi Arabia’s Public Investment Fund has begun taking orders for its debut bond sale, a bank document showed on Wednesday, in what will be the first ... Banking & Finance -
UAE ‘top 10 banks’ report significant rebound in profit
The United Arab Emirates top 10 banks reported a significant rebound in their profits in the second quarter of 2022, compared to the same period one ... Business -
Visa and Al Rajhi Bank push to empower female entrepreneurs in Saudi Arabia
Digital payments giant Visa and Saudi Islamic bank Al Rajhi Bank are pushing to empower women in Saudi Arabia by offering financial support to female ... Banking & Finance -
Around one in three UAE online shoppers struggle to identify fraud, scams: Survey
Around one in three online shoppers in the United Arab Emirates still struggle to identify fraud and scams, according to a survey conducted by the ... Gulf -
World Bank accuses Lebanese politicians of cruelty over deposit promises
The World Bank has said that assertions by Lebanese politicians that deposits kept in the country’s collapsed banking sector are sacred are “cruel” ... Banking & Finance -
Credit Suisse CEO resigns amid plunging revenues, Q2 net loss
Credit Suisse said Wednesday that CEO Thomas Gottstein is resigning after two-and-a-half years in the job, as he announced “disappointing” results, ... Banking & Finance -
Stormy waters ahead for Germany amid Russia, Ukraine war: Financial regulator
Germany’s financial sector is facing an uncertain future amid the energy dispute with Russia, the head of the country’s financial regulator BaFin said ... World News -
Saudi finance minister: Kingdom supports humanitarian efforts in Muslim countries
Saudi Arabia has always shown interest in humanitarian and development efforts in Muslim countries, offering its support on a bilateral level and ... Banking & Finance -
MENA region supporting financial inclusion for persons with disabilities through tech
The Middle East and North Africa region has been supporting major digital inclusion efforts to make financial inclusion for persons with disabilities ... Middle East -
Saudi Arabia’s FSDP launches ‘Global Award for Islamic Finance’
Saudi Arabia’s Financial Sector Development Program (FSDP) launched a ‘Global Award for Islamic Finance,’ the official Saudi Press Agency reported on ... Banking & Finance -
Russia freezes trading in up to 14 pct of US-listed shares on SPB Exchange
SPB Exchange, Russia’s second-largest bourse, said on Monday it will transfer up to 14 percent of US-listed shares that its clients possess to a ... Banking & Finance -
SAUDIA, American Express launch new miles redemption partnership at ATM 2022
Saudi Arabia’s national airlines SAUDIA and American Express Saudi Arabia launched a new miles redemption partnership at the Arabian Travel Market in ... Aviation & Transport -
Explainer: Does the cryptocurrency crash pose a threat to the financial system?
On Tuesday, bitcoin fell briefly below $30,000 for the first time in 10 months, while cryptocurrencies overall have lost nearly $800 billion in market ... Features -
Transport giant Maersk lost over $700 million from Russia in Q1 2022
AP Moller Maersk A/S said it lost more than $700 million in the first quarter from the war in Ukraine as the transport giant counts the cost of ... Aviation & Transport -
UAE finance ministry to issue first tranche of federal treasuries
The United Arab Emirates’ finance ministry said on Thursday it will issue on May 9 the first tranche of federal treasury bonds, as part of a plan to ... Gulf -
UAE top lender FAB posts record profit helped by stake sale
First Abu Dhabi Bank (FAB), the United Arab Emirates’ biggest lender, reported on Thursday its highest ever quarterly net profit, helped by the sale ... Banking & Finance -
Saudi al-Rajhi Bank reports 24 percent rise in Q1 profit
Al-Rajhi Bank, Saudi Arabia’s second-biggest lender, reported a nearly 24 percent rise in quarterly earnings, fueled by a jump in net financing for ... Banking & Finance -
Retiring early still an unreachable prospect for many in UAE, poll finds
Retiring early remains out of reach for many residents in the United Arab Emirates, a new poll has found, highlighting the need for financial ... World News -
Russia says will go to court if declared in ‘default’ by West: Minister
Moscow will start legal proceedings if it is declared in default by the West, finance minister Anton Siluanov said Monday, after Russia was declared ... World News -
Cryptocurrency platform Binance granted In-Principle Approval to operate in Abu Dhabi
Abu Dhabi’s financial free zone has granted cryptocurrency platform Binance In-Principle Approval (IPA) to operate as a broker in virtual assets, ... Gulf -
Saudi lender Tamweel Aloula announces highest-ever annual profit
Saudi Arabian lender Tamweel Aloula has achieved the highest annual profit in its history, with a $13.3 million (50 million riyals) before zakat ... Banking & Finance -
Russian cybercriminals may be evading Ukraine war sanctions through crypto: Expert
Since Russia’s invasion of Ukraine, blockchain data platform Chainalysis tracked just over $62 million worth of cryptocurrency sent from Russian-based ... Features -
South Korea appoints IMF official as new central bank chief
South Korea on Wednesday nominated veteran International Monetary Fund official Rhee Chang-yong as its new central bank chief, a pick who is widely ... World News -
Moscow stock exchange begins gradual reopening with bonds trading
Trading in federal government bonds restarted Monday on the Moscow Stock Exchange as part of a phased re-opening after a nearly month-long suspension ... Financial Markets -
National Bank of Pakistan fined $55 mln by US regulators
National Bank of Pakistan (NBP) said on Friday it had reached an agreement with US regulators to pay $55 million in fines imposed on its New York ... Banking & Finance -
Nissan hikes annual net profit forecast, shifts focus to EVs
Nissan on Tuesday hiked its annual net profit forecast again on strong interim results, aiming to weather the global chip shortage as it shifts focus ... Banking & Finance -
Riyad Bank plans sustainability-linked AT1 sukuk
Riyad Bank, which is 43 percent indirectly owned by the Saudi government, has hired banks for a planned issuance of US dollar-denominated Additional ... Banking & Finance -
Crypto, digital payments among top 2022 trends for GCC financial services sector
Global management consultancy Oliver Wyman predicts that some of the top trends that are set to shape the Middle East’s financial services sector ... Banking & Finance