The UAE banks' gross assets improved by 1.1% from AED5,570.1 billion ($1516.71 billion) at the end of April 2026 to AED5,633.1 billion at the end of May 2026, said a UAE Central Bank report.
Dubai's economy continued its strong growth trajectory in 2025, with gross domestic product (GDP) at current market prices rising to an estimated AED972 billion ($264.67 billion) from AED890 billion in 2024, according to preliminary estimates released as the Dubai Data and Statistics Establishment (DDSE) launched the Dubai Economic Survey 2026.
Liquidity-management instrument availability for Islamic banks has expanded across many core markets over the past decade, supporting funding needs, according to Fitch Ratings. However, gaps remain relative to conventional banks, more so in countries where Islamic banks remain niche.
Jada Fund of Funds, a wholly owned subsidiary of the Public Investment Fund, established to develop Saudi Arabia’s private capital ecosystem, has announced its strategic commitment to Growth Catalyst Fund I, a Saudi-based private equity fund with a targeted fund size of SAR750 million ($ 200 million), focused on scaling high-potential mid-market companies across the Kingdom.
BlueFive Capital, a global investment platform with $15 billion in assets under management, has appointed Marwan Elaraby as its new President for Mena region. An industry veteran, he brings three decades of experience in the Middle East market as a lawyer, investment banker and private equity investor.
Dubai has stepped up efforts to attract global wealth and investment by partnering with Julius Baer (Middle East), as the emirate advances its D33 economic agenda. The Swiss wealth manager will help international investors, business owners and family offices set up offices in the emirate.
In a major move, Blackstone, the world’s largest alternative asset manager, is set to open its office in Kuwait during the third quarter of 2026, as it expands its presence in the region. The New York-based group plans to open additional offices across the GCC over the coming year.
GCC states have achieved advanced IMD World Competitiveness global rankings across key indicators including - economic performance, government efficiency, business competitiveness and infrastructure - underscoring the impact of reforms aimed at boosting growth and attracting investment.
The UAE and Canada have announced that the duo has concluded negotiations on a Comprehensive Economic Partnership Agreement (CEPA) in a move aimed at boosting trade and investment in key sectors including aerospace, clean energy, aviation and critical minerals.
The United States has imposed fresh tariffs ranging from 10% to 12.5% on imports from 60 major trading partners, including several Middle Eastern countries, after concluding that they had failed to take sufficient action to prevent goods produced with forced labour from entering their markets.
