Saudi Arabia’s Public Investment Fund (PIF)-backed companies have announced significant increases in their dividend payouts, reflecting the robust financial health and strategic growth of these...
Saudi Arabia Approves MoU with Iraq on Money Laundering
In a significant move to combat financial crimes, Saudi Arabia has approved a Memorandum of Understanding (MoU) with Iraq aimed at tackling money laundering and...
Egypt’s FRA Grants First SME Funding Licence in NBFC Sector
In a landmark decision, Egypt’s Financial Regulatory Authority (FRA) has granted the first-ever licence for small and medium enterprise (SME) funding to a company operating...
Saudi’s SRC and BlackRock to Develop Real Estate Finance Market Products
The Saudi Real Estate Refinance Company (SRC), a subsidiary of the Public Investment Fund, has signed a memorandum of understanding (MoU) with the US-based BlackRock...
Pakistan Seeks Additional $1.5 Billion Loan from Saudi Arabia to Secure IMF Bailout
Pakistan is seeking an additional $1.5 billion loan from Saudi Arabia to secure a crucial bailout package from the International Monetary Fund (IMF). This request...
Saudi Tadawul Witnesses 22 Private Deals Worth $104.26 Million on Thursday
In a notable day of trading, the Saudi Stock Exchange (Tadawul) saw the execution of 22 private deals totaling $104.26 million on Thursday. These transactions,...
Elon Musk’s X Attracts High-Profile Investors: Binance, Jack Dorsey, Andreessen Horowitz, and More
Elon Musk’s ambitious rebranding of Twitter into X has drawn significant attention and investment from some of the most influential figures and firms in the...
TAQA-JERA JV Reaches Financial Closure on Saudi Industrial Steam and Power Plant
The Abu Dhabi National Energy Company (TAQA) and Japan’s JERA Co. have successfully reached financial closure for their new industrial steam and electricity cogeneration plant...
Financial Academy to Host Debt Markets and Financial Derivatives 2024 Forum in Riyadh
The Financial Academy is set to host the “Debt Markets and Financial Derivatives 2024” Forum in Riyadh on September 8, 2024. This highly anticipated event,...
Telecom Egypt Plans to Raise $150 Million to Restructure Debt
Telecom Egypt, the state-controlled telecom operator, has announced plans to raise $150 million to restructure its existing debts and extend their terms. This move comes...
Amman Stock Exchange Closes Down 0.32%, Index Hits 2,403 Points
The Amman Stock Exchange (ASE) experienced a slight decline in its trading session on Monday, closing down by 0.32% and settling at 2,403 points. This...
More Mergers Among Islamic Insurers in Saudi Arabia and UAE Expected
The Islamic insurance sector in Saudi Arabia and the UAE is poised for significant consolidation as smaller and mid-size players continue to report weak earnings....
ADIB Egypt Records Higher Profits in H1-24; Assets Hit $4.27 Billion
Abu Dhabi Islamic Bank (ADIB) Egypt has reported a significant increase in its consolidated net profits for the first half of 2024. The bank’s net...
Kuwait Fund Supports Saudi-Iraq Interconnection Project
In a significant boost to regional energy cooperation, the Kuwait Fund for Arab Economic Development (KFAED) has announced its support for the Gulf Electricity Interconnection...
Egypt’s Qardy Secures Funding Round to Expand in MENA
Egypt-based fintech Qardy has successfully secured a seven-figure pre-seed funding round to expand its operations across the MENA region. This significant investment, led by White...
Egypt’s EGX Indices Show Positive Performance on Tuesday
On Tuesday, Egypt’s stock market indices demonstrated a robust performance, reflecting investor confidence and economic resilience. The EGX30 main index rose by 1.33% to 28,210.41...