Business & Money | Friday 5 April, 2024 4:49 am

EDB boosts industrial GDP impact, reaching AED10.4 billion in total funding since 2021

Emirates Development Bank (EDB), the key financial engine of economic development and industrial advancement in the UAE, has unveiled a record increase in total financing since the launch of EDB’s strategy in 2021 to AED10.4 billion, bringing its cumulative contribution to the nation’s...

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Business & Money | Friday 5 April, 2024 4:30 am

Gulf consortium acquires 65% of Aster DM Healthcare’s GCC unit

Aster DM Healthcare Limited announced the separation of its business in the GCC and India into two independent entities.   Under the separation plan, a consortium led by Abu Dhabi Investment Council-backed private equity firm Fajr Capital acquired a 65% stake in Aster’s GCC arm....

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Business & Money | Friday 5 April, 2024 4:25 am

5 investors, local firm fined SAR 44.9M on capital market violations

Five investors were convicted of violating the Capital Market Law and fined SAR 3.5 million. Four investors and a local company were ordered to pay SAR 41.4 million due to the illicit gains achieved in their investment portfolios, in addition to another portfolio.   The Appeal...

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Business & Money | Friday 5 April, 2024 1:07 am

Riyad Bank says Riyad Capital IPO ‘under assessment’

Riyad Bank’s board of directors approved on April 3 to start assessment and preparation of a possible initial public offering (IPO) of its subsidiary, Riyad Capital for listing on the Saudi Exchange (Tadawul), according to a statement to Tadawul.   Riyad Bank and Riyad Capital ...

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Business & Money | Friday 5 April, 2024 12:04 am

Saudi Electricity redeems $1.5B sukuk due on April 8

Saudi Electricity Co. (SEC) fully redeemed its $1.5 billion international sukuk due on April 8, 2024, listed on Irish Stock Exchange (Euronext Dublin), issued on April 8, 2014.   In a statement to Tadawul, the company said 7,500 sukuk were redeemed at a par value of...

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Business & Money | Thursday 4 April, 2024 12:17 pm

Capital.com opens new regional head office in UAE under #NextGenFDI initiative

Capital.com, the high-growth global trading platform and fintech group whose trading volumes surpassed USD$1 trillion in 2023, has announced that it is joining the UAE’s #NextGenFDI initiative for digitally-enabled businesses as it opens a new subsidiary, Capital Com MENA Securities Trading LLC...

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Business & Money | Thursday 4 April, 2024 12:16 pm

UAE AML/CFT Partnership Forum Digital Work Group publishes white paper on technologies in anti-financial crime

Hamid AlZaabi, Director-General of the Executive Office of Anti-Money Laundering and Counter Terrorism Financing (EO AML/CTF), was presented with the first copy of the white paper "Current views on technologies in anti-financial crime" during the EO AML/CTF Ramadan event, published by the UAE...

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Business & Money | Thursday 4 April, 2024 12:11 pm

Masdar to host World Future Energy Summit on 16th April

Abu Dhabi Future Energy Company PJSC – Masdar, the UAE’s clean energy powerhouse, is gearing up to host the World Future Energy Summit (WFES). Taking place from 16th to 18th April at Abu Dhabi National Exhibition Centre (ADNEC), WFES is the world’s leading business event for future...

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Business & Money | Thursday 4 April, 2024 11:44 am

Moody's upgrades ADIB’s Baseline Credit Assessment

Abu Dhabi Islamic Bank (ADIB) received an upgrade to its Baseline Credit Assessment (BCA) from Moody's as the ratings agency affirmed ADIB’s credit ratings, indicating continued stability and improvement in the bank's financial health. The upgrade in ADIB's BCA is attributed to the bank's...

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Business & Money | Thursday 4 April, 2024 11:21 am

STC Bank launches in Beta supported by SAMA

Today stc pay was given formal approval from the Saudi Central Bank (SAMA) to move to the next phase of its transformation journey into STC Bank. This beta launch is limited to preselected customers and is a preparation for a full public launch later in the year. This step is supported by SAMA,...

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