Monday 25 May 2020
 
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Saudi economy is solid, can deal with deficit: Al-Jadaan

The Minister of Finance and Acting Minister of Economy and Planning, Mohammed bin Abdullah Al Jadaan has said the Kingdom of Saudi Arabia has faced this (Covid-19) crisis from a position of strength.   He said this during an interview on "Al-Arabiya" t

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UAE banks invest over $4.5 billion in April

The UAE’s banking system invested a total of AED16.6 billion ($4.51 billion) in April, reflecting a high level of baking activity, a media report said. Emirati banks are utilising their excess liquidity in investment instruments that will improve their profits, increasing t

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SABB completes 1st Phase with “Wethaq”

The Saudi British Bank (SABB) has completed the first phase of automating bank guarantees through “Wethaq” digital platform,recently launched by The Saudi Company for Exchanging Digital Information (Tabadul), a wholly-owned subsidiary of the Public Investment Fund (PIF). 

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Impact of COVID-19 on Global Startup Ecosystems

Global venture capital funding has dropped by 20% since the onset of the crisis in December 2019, says a study. The drop, however, is far from evenly distributed.   China, the first country hit by the coronavirus crisis, had a drop of over 50 % in funding relati

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Saudi Arabia grants 348 foreign investor licenses in Q1

The Ministry of Investment of Saudi Arabia (MISA) has reported 348 new international companies were granted licenses to operate in the Saudi market in the first quarter (Q1) of 2020 in its latest Investment Highlights report. This marks a 19 per cent increase compared to the same

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ICD net profit jumps 17pc to $6.81bn in 2019

Investment Corporation of Dubai (ICD) the principal investment arm of the state government with major interests in finance, real estate, construction, utilities, energy, transportation, industrial and leisure sectors, has reported a net profit of of Dh25 billion ($6.81 billion) for FY 2019, u

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Saudi Re strengthens board with key appointments

Saudi Reinsurance Company (Saudi Re) has appointed two seasoned reinsurance professionals - Dr Peter Hugger and Mr Marc Maipoux - to its board of directors for a three-year term starting 2020.    Dr Hugger has diversified experience in the reinsurance marke

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ADQ launches AED1.1bn venture fund

ADQ, one of the region’s largest holding companies with a diverse portfolio of major enterprises spanning key sectors of Abu Dhabi’s non-oil economy, has launched Alpha Wave Incubation (AWI) Fund, a new AED1.1 billion ($299.48 million) venture fund located at Abu Dhabi Global Mark

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Abu Dhabi ADQ launches new $299m venture fund at ADGM

ADQ, one of the region’s largest holding companies with a diverse portfolio of major enterprises spanning key sectors of Abu Dhabi’s non-oil economy, has launched Alpha Wave Incubation (AWI), a new Dh1.1 billion ($299 million) venture fund located at Abu Dhabi Global Market (ADGM)

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UAE banks provide $24.43bn loans to SMEs

Emirati banks provided a total of AED93.4 billion ($25.43 billion) loans to small and medium-sized enterprises (SMEs) in the first quarter of 2020, an increase of AED3.9 billion or 4.3 percent compared to AED89.5 billion in the fourth quarter of 2019, a report said.  

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