Thursday 23 September 2021

DIFC issues key amendments to Employment Law

Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East and Africa region, has announced that HH Sheikh Mohammed bin Rashid Al Maktoum, in his capacity as the Ruler of Dubai, has made amendments to the Employment Law.   


Emirates NBD, Emirates Islamic to unveil ‘Future Banking’

Emirates NBD Group and the Official Islamic Banking Partner (Emirates Islamic) of Expo 2020 Dubai, is set to unveil its pioneering vision for the future of global banking at Expo 2020 Dubai.    Supporting Expo 2020 Dubai’s theme “Connecting Mind


Ejabiah awards core banking system contract to Path Solutions

The newly established financing company in Saudi Arabia, Positive Facilities Co Ltd (Ejabiah), has signed an agreement with Path Solutions for the implementation of its interest-free core banking platform.   Ejabiah will be offering a unique and much needed zero


Apicorp launches its inaugural green bond framework

The Arab Petroleum Investments Corporation (Apicorp), a multilateral development financial institution focused on the energy sector in the Mena region, has launched its inaugural Green Bond Framework. The Framework will serve as a means to raise Green Bonds/Sukuk which reinforce


Adnoc Drilling IPO size of offering increased

The Abu Dhabi National Oil Company (Adnoc) has increased the number of ordinary shares offered in the Initial Public Offering (IPO) of Adnoc Drilling from 1,200,000,000 ordinary shares to 1,760,000,000 ordinary shares. The hike equates to 11 percent of Adnoc Drilling’s tota


Avana expands into Saudi Arabia with new services

Avana Companies, a leading ESG lending and investment platform, has announced its expansion into Saudi Arabia, providing financial services to businesses and individuals through its subsidiary Ezdaher. Under the Ezdaher brand, Avana will provide its new small business lending pla


Dubai economic growth seen at 3.1pc in 2021: DED

Dubai is expected to record an economic growth of 3.1% this year, while it is projected to accelerate to 3.4% in 2022, spurred by the hosting of Expo 2020, said the Department of Economic Development (DED) said in its latest economic outlook. Sheikh Hamdan bin Mohammed bin Rashid


Bahrain tops GCC rankings in 2021 Economic Freedom index

Bahrain has topped the GCC rankings in the latest annual Economic Freedom of the World index compiled by the Fraser Institute.    As per the list prepared on the basis of 2019 data, the kingdom ranks higher taking the 65th place ahead of the UAE (67th), Qat


Quara Finance renews its financing deal with ‘Jarir Bookstore’

Quara Finance, a leading Saudi company providing Sharia-compliant financial services, has renewed its financing service agreement with Jarir bookstore for the third consecutive year.    The partnership will continue to offer easy and convenient monthly inst


Covid-induced business measures ‘back long-term growth’

Strategic business measures introduced to deal with the Covid-19 pandemic should be retained even beyond the crisis, said a senior corporate banking executive in the UAE. “Greater experience in crisis management, higher flexibility in terms of remote working and improved wo

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