Tarabut, the largest regulated open banking platform in the Mena region, has announced the acquisition of Servable, a Bahrain-founded full-stack AI engineering company purpose-built for regulated industries. The move is aimed at building the region’s most advanced regulated financial infrastructure.
Gold and silver prices tumbled on Friday as investors around the world took profits after a historic rally that sent precious metals to record highs, a retreat accelerated by a rebound in the US dollar and shifting expectations around American monetary policy.
Abu Dhabi's Supreme Council for Financial and Economic Affairs (SCFEA) has issued a resolution to consolidate the assets and investments of L’IMAD Holding Company, and the Abu Dhabi Developmental Holding Group (ADQ) under the umbrella of L’IMAD.
Abu Dhabi Commercial Bank (ADCB) recorded a net profit after tax of AED11.445 billion ($3.12 billion) in FY2025, marking 22 percent year-on-year growth, while Q4 net profit reached AED3.342 billion.
Lunate, a partner-led and independent global investment firm with $115 billion in assets under management, has appointed Mohamed Hassan Alsuwaidi, Founding Managing Director & Group Chief Executive Officer of ADQ, as Executive Chairman and Managing Partner, following his successful tenure at ADQ.
Saudi Arabia has launched a new National Privatization Strategy to significantly expand the role of public-private partnerships (PPPs) in delivering and operating large-scale projects and advancing economic diversification in line with Saudi Vision 2030.
The Gulf Cooperation Council (GCC) corporates sector reflects steady earnings due to ongoing government-led capex in infrastructure and energy. However, tighter fiscal flexibility and lower oil-price assumptions will temper budgets and activity, according to top ratings agency Fitch.
The Central Bank of the UAE (CBUAE) and the Central Bank of Bahrain (CBB) have decided to maintain their overnight deposit rate unchanged.
Emirates NBD Capital, the investment banking arm of Emirates NBD, has received regulatory approval for a Category I Merchant Banking licence from SEBI, India’s market regulator, becoming the first Middle Eastern investment bank to secure Category I licensure.
The UAE-headquartered Al Habtoor Group, one of the region’s largest conglomerates in the region, has taken the decision to proceed with the closure of its operations in Lebanon in light of the prevailing conditions in the country, and following a comprehensive internal review.
