Tuesday 5 March 2024
 
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DHF Capital expands to Bahrain

DHF Capital, a securitisation firm with a presence in Europe and the Middle East, has announced its expansion into Bahrain, reflecting the company’s commitment to growth and seizing opportunities in new markets.    With the GCC’s GDP growth proj

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Investcorp invests in Saudi Arabia's Salla

Investcorp, a leading global alternative investment firm today announced it has led a $130 million pre-IPO investment round in Salla, a leading SaaS E-Commerce enablement platform in Saudi Arabia.    The investment was made alongside Sanabil Investment, a w

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S&P sees growth plunge for GCC non-oil sector, rebound for O&G

S&P Global Ratings expects Gulf Cooperation Council (GCC) oil, gas, and chemicals companies' earnings to rebound in 2024 even as the non-oil sector earnings growth take a plunge from 15% last year to 7% in 2024.   “We forecast aver

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GCC infrastructure firms to hold up against 2024 refinancing needs: S&P

Most corporate and infrastructure firms in the GCC region benefit from broadly supportive credit conditions in their domestic markets. This is despite soft global economic growth, high interest rates, and considerable geopolitical risks in the Middle East, according to top ratings agency S&am

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Bank of Sharjah plays key role in issuance of $750m dollar bond

Bank of Sharjah, a leading commercial bank in the UAE, has acted as a joint lead manager and bookrunner in the successful issuance of a $750 million 12-year US dollar-denominated 144A/Reg S senior unsecured sustainable bond for Sharjah government alongside other international and regional ban

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Gulf Air seals strategic partnership with Singapore Gulf Bank

Gulf Air, the national carrier of the Kingdom of Bahrain, has announced a strategic partnership with Singapore Gulf Bank (SGB) in Bahrain, a new digital banking arm by Singapore’s Whampoa Group, based in the kingdom.    The collaboration is aimed at e

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Ruya to launch its first community banking centre in Ajman

Ruya, a modern digital-native Islamic community bank, is set to launch its first community banking centre and head office in the Marsa area of Ajman, UAE, a report said. It aims to blend innovative technology with the core principles of Islamic finance, catering to the needs of both in

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Ajman Bank in deal with KPMG to develop ESG framework

Ajman Bank has signed a memorandum of understanding (MoU) with KPMG ESG Services, marking a significant milestone in its commitment to environmental, social, and governance (ESG) principles, a report said. The partnership aims to develop Ajman Bank’s inaugural ESG Framework, a ro

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DTC posts FY 2023 net profit growth of 54pc YoY to $94m

Dubai Taxi Company (DTC), a leading provider of comprehensive mobility solutions in Dubai, has seen its FY 2023 net profit jump 54% to AED345.3 million ($94 million) year-on-year, with free cash flow of AED129 million.   DTC delivered a strong performance during

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Citi announces Head of Banking and Executive Vice Chair

Citi has announced that Viswas (Vis) Raghavan will join Citi as Head of Banking and Executive Vice Chair of Citi, reporting to CEO Jane Fraser.   Vis will lead one of Citi’s five core businesses, with responsibility for Investment, Corporate and Commercial

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