Sunday 14 August 2022

Saudi Insurance Symposium aims to be transformative

The sixth Saudi Insurance Symposium will be a transformative one, a game-changing engagement that lays the groundwork for the creation of new and lasting opportunities.   Expected to attract more than 1,000 regional insurance experts, as well as a selection of l


EDB approves $653m in finance during H1; up 418%

Emirates Development Bank (EDB) mobilised AED2.4 billion  ($653 million) in loans to the UAE’s industrial sector in the first half (H1) of 2022, marking a 418 percent increase compared to the AED464 million approved from the launch of the Bank’s new strategy in 2021.


KFH-Bahrain offers education financing to ASU students

Kuwait Finance House-Bahrain (KFH-Bahrain) has signed a Memorandum of Understanding with Applied Science University (ASU) to provide education financing to current and future students.   The signing ceremony was held at KFH-Bahrain's headquarters at the Bahr


Saudi PIF sets up unit to invest in Egypt

Saudi Arabia's Public Investment Fund (PIF) has launched the Saudi Egyptian Investment Company (SEIC) to invest in promising sectors throughout Egypt, one of the world’s emerging markets.   SEIC will invest in priority sectors including but not limited


ME's top 30 banks' assets total $2.5 trillion, says Forbes

Middle East’s top 30 banks a total market value of $586.6 billion and total assets worth $2.5 trillion as of June 28, says a Forbes Middle East, unveiling its ranking of the region’s top 30 banks for 2022.   Saudi Arabia dominates the top banks ranki


Global current account balances widen amid war, pandemic

The lingering pandemic and Russia’s invasion of Ukraine are dealing a setback to the global economy, impacting current account balances of countries, says an IMF report.   The crises are affecting trade, commodity prices, and financial flows, all of which


24 MENA IPOs raise $13.5 billion in H1 2022; huge jump in value

The MENA region witnessed a 500% year-on-year increase in the number of companies listing during H1 2022 with 24 IPOs raising proceeds of $13.5 billion – an increase of 2,952% in value when compared to the same period in 2021, said a report.


Hikma’s diversified business delivers resilient H1

Hikma Pharmaceuticals, a multinational pharmaceutical company, delivering a resilient first-half performance and scored double digit profit growth in its Injectables and Branded businesses has helped to offset a decline in Generics.    The company now expec


India’s Beams FinTech Fund looks towards Middle East

Beams Fintech Fund, India’s first dedicated Growth Capital Fintech Fund, looks to expand globally and sees UAE well positioned to be the international hub and silk route to the rest of the Gulf, north and eastern African regions.    As one of the bigg


NBB launches new ‘Double Points’ campaign

The National Bank of Bahrain (NBB) has launched the Double Points campaign for all credit and prepaid cardholders.    The campaign offers NBB customers who use their cards internationally the opportunity to double their points. The campaign, which began in

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