Thursday 28 March 2024
 
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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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ADIB leads closure of $235m syndicated transaction

Abu Dhabi Islamic Bank (ADIB) has announced the successful closure of a sharia compliant syndicated transaction worth AED865 million ($235 million) for BGN and Al Seer Marine to finance new and energy-efficient gas carriers.    This financing marks the seco

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Private equity activity surges in KSA, hits $4bn in 2023

Saudi Arabia has witnessed a remarkable surge in private equity (PE) activity over the past five years, reaching a pinnacle of $4 billion in 2023, the ‘2019-2023 Saudi Arabia Private Equity Report’ revealed.    According to the report published

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IFSB appoints Dr Ghiath Shabsigh as new Secretary-General

The Islamic Financial Services Board (IFSB), an international standard-setting organisation for the global Islamic financial services industry, has appointed Dr Ghiath Shabsigh as its fourth Secretary-General, effective April 1, 2024. Dr Shabsigh succeeds Dr Bello Lawal Danbatta, whose tenure

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Emirates Islamic marks 20 years of outstanding progress

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, remains committed to advancing Dubai’s status as the global capital of the Islamic economy.   Celebrating its 20th anniversary, the Islamic banking arm of the Emirates NBD Grou

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Mubadala invests in India’s Avanse Financial Services

Mubadala Investment Company, the Abu Dhabi-based investment company, announced today that it is investing in Avanse Financial Services, India’s new age, technologically advanced, education-focused non-banking financial company (NBFC).    Mubadala led

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Tamkeen and BIBF partner to empower Bahrainis

Bahrain’s Labour Fund Tamkeen has announced its support for Bahrainis wishing to enrol in the Chartered Institute of Personnel and Development (CIPD) programme at the Bahrain Institute of Banking & Finance (BIBF).    The initiative aims to qualify

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