Fintech Galaxy has announced that it has received In-Principle Approval (IPA) from the Central Bank of the United Arab Emirates (CBUAE) to operate as an Open Finance provider in the UAE.
US President Donald Trump has threatened to impose sweeping economic punishment on any country that provides a “lifeline” to Iran, escalating pressure on Tehran as the confrontation over the strategically vital Strait of Hormuz enters a critical phase and diplomatic efforts to end the nearly six-month-old war appear increasingly uncertain.
The National Debt Management Center (NDMC) has announced the closure of the August issuance under the Saudi Arabian Government SAR-denominated Sukuk Program. The sukuk issuance was divided into five tranches with total amount allocated set at SAR9.518 billion ($2.5 billion).
Saudi Arabia’s real gross domestic product contracted 4.8% year-on-year in the second quarter of 2026, said a report, as a 24.7% decline in oil activity outweighed growth in non-oil activities and government output. Non-oil activity grew 0.6% in the quarter, while government activity rose 0.9%.
Oraseya Capital, the investment arm of Dubai Integrated Economic Zones Authority (DIEZ), has signed a memorandum of understanding (MoU) with NQubator, an innovation platform for early-stage tech venture creation, to establish a strategic framework supporting the identification, development, and investment readiness of early-stage technology startups in the UAE.
The UAE has said that all trade, commercial exchanges, and financial transactions with Iran have been halted until further notice in light of regional escalations that undermine regional and international peace and security.
SAB Invest, a key unit of Saudi Awwal Bank (SAB), has announced the launch of an open-ended, shariah-compliant public fund designed to provide investors with access to a portfolio of global companies set to benefit from long-term structural growth trends supporting Saudi Vision 2030 goals.
Saudi Arabia's Public Investment Fund (PIF) said in 2025 its revenue rose 9% year-on-year to $120 billion, while net profit more than doubled to $17 billion, supported by stronger contributions from maturing portfolio companies.
The UAE banking system’s total assets increased by 17.1 percent to AED5.3 trillion at the end of 2025, while the loan portfolio expanded by 17.8 percent, primarily driven by increased domestic lending, particularly across the retail and private corporate segments.
Emirates NBD, a leading banking group in the Middle East, North Africa, Türkiye and South Asia (MENATSA) region, has marked a significant milestone in its sustainable finance journey by pioneering the UAE’s first dedicated Transition Finance Framework to support corporate and institutional customers in their transformation to more sustainable business models.
