Friday 29 March 2024
 
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Visa’s services business infused with AI-powered products

Visa, a leader in digital payments, has announced the continued expansion of its global value-added services business with the addition of three new AI-powered risk and fraud prevention solutions.    The new products, part of the end-to-end Visa Protect sui

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Mena Capital Market Summit to take place from May 1: DFM

The second Capital Market Summit, from May 1 to 2, will explore the growth of IPOs in the region, discuss insights from global stock exchanges, growth capital opportunities, evolution of virtual assets and AI's impact on financial markets.   Following the su

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Dewa shareholders approve $840m in dividend payout

Dubai Electricity and Water Authority’s (Dewa) shareholders have, in the general assembly held on March 28, 2024, approved the payment of total dividend of AED3.1 billion ($840 million) with a record date of April 8, 2024.   The meeting, chaired by Matar H

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DFM announces return of MENA Capital Market Summit in May

Following the success of the inaugural MENA IPO Summit last year, Dubai Financial Market (DFM) is set to return in May with a bigger and more promising edition of its flagship event, ‘The Capital Market Summit’, the region’s only IPO-focused event, a report said. Sche

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FDI inflow to Saudi Arabia jumps 16% to $3.47bn in Q4 2023

The net flow of Foreign Direct Investment (FDI) into Saudi Arabia amounted to over SAR13 billion ($3.47 billion) in Q4 of 2024, an increase of 16% from SAR11 billion in Q3 of the same year. Total FDI into the kingdom's economy during Q4 of 2023 totalled about SAR19 billion, an incr

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GCC bank US dollar debt issuance to increase strongly: Fitch

Gulf Cooperation Council (GCC) banks’ US dollar debt issuance is on track for its strongest quarter ever in Q1 2024, with issuance already exceeding the full-year 2023 total, Fitch Ratings says.   Annual issuance in 2024 and 2025 could exceed the 2020 reco

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Abu Dhabi development fund's global spending tops $59bn

Abu Dhabi Fund for Development (ADFD) achieved remarkable results in 2023, with its operational activities witnessing a significant increase with cumulative spending surpassing AED216 billion ($59 billion). These funds played a crucial role in supporting the economic and social development in

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Bahrain tops MENA in financial freedom third year in a row

Bahrain has ranked first in the Middle East and North Africa (MENA) in trade, investment, and financial freedom for the third consecutive year according to the 2024 Index of Economic Freedom, an annual guide published by The Heritage Foundation, Washington's leading think tank. Wit

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Agility sets $2.6bn interim in-kind dividend & $83m cash payout

Agility Public Warehousing Company has approved an interim cash dividend distribution of KD25.5 million ($83 million), equivalent to 10 fls per share and an in-kind dividend of KD800 million ($2.6 billion).    The in-kind dividend represents shares forming

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Investcorp appoints new Chief Financial Officer

Investcorp, a leading alternative investment firm, has appointed Abbas Rizvi as its Group Chief Financial Officer (CFO), effective April 1.    This appointment follows Investcorp' s current CFO Jan Erik Back’s decision to retire. &nbs

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