In 2023, the UAE banking sector witnessed significant growth, with total assets surging to a record Dh4.1 trillion, marking an 11% increase year-on-year. Despite global challenges, the Central Bank of the UAE’s (CBUAE) strategic initiatives have propelled the sector towards further expansion and recovery in 2024. During the last quarter of 2023, total assets saw […]

In a significant move, Borse Dubai Ltd. has announced intentions to divest a portion of its stake in Nasdaq Inc. through a secondary share offering, aiming to raise approximately $1.6 billion. The plan entails selling 26.96 million shares of Nasdaq’s common stock at $59 per share, which would reduce Borse Dubai’s stake to around 10.8%. […]

Pakistan’s central bank, in its latest policy meeting on Monday, opted to maintain its key interest rate at 22%, marking the sixth consecutive meeting without change. The decision reflects ongoing efforts to balance inflationary pressures with economic stability. Analysts had widely anticipated this decision, acknowledging the necessity of a cautious approach amidst lingering inflation risks. […]

Samsung Electronics has inked a significant deal with the US government, sealing a $6 billion investment aimed at expanding its semiconductor operations within the United States. This strategic move, set to be unveiled by the end of March, is part of the 2022 Chips and Science Act, designed to bolster America’s semiconductor industry. The Korean […]

Saudi Arabia is poised for a significant move in its financial strategy, as it looks to enlist top Wall Street banks for a secondary share sale in Aramco, according to a recent report by Bloomberg. In this endeavor, JPMorgan Chase & Co. is being considered as a key underwriter for the offering, alongside contenders Bank […]

Parkin Company PJSC has reacted swiftly to the remarkable surge in retail investor interest in the UAE, announcing an adjustment to its initial public offering (IPO) allocation. The Securities and Exchange Authority (SCA) has approved an increase in shares offered to retail investors, reflecting the unprecedented demand. Originally set at 74,970,000 ordinary shares, the UAE […]

A high-profile delegation from Germany, comprising 16 influential leaders from various sectors including agricultural technology, insuretech, logistics, renewable energy, manufacturing, infrastructure, and artificial intelligence, is currently in Doha. Led by Gordon Pelz, Vice Chairman of the German Association of SMEs, the delegation’s visit is aimed at exploring investment prospects and enhancing economic cooperation between Qatar […]

In a notable downturn, Japanese stocks experienced a significant decline today, with the Nikkei index plummeting as much as three percent. This decline was fueled by a strengthening yen against the dollar and a substantial sell-off in semiconductor stocks. During afternoon trading, the Nikkei index reached a low of 38,496.66 before recovering slightly to close […]

Over 120 member states of the World Trade Organization (WTO) have signed the Investment Facilitation for Development (IFD) Agreement, aiming to streamline investment processes in developing and least-developed countries.  Despite initial reservations, the pact received broad support, with 75 percent of WTO members endorsing it. The agreement, unveiled just before the 13th ministerial conference in […]

Japan’s Nikkei 225 index witnessed a historic surge on Thursday, breaching the coveted 39,000 milestone, driven by a combination of robust corporate earnings and investor-friendly reforms. The index’s remarkable ascent, rising nearly 2% to reach 39,029, marks a significant milestone, surpassing its previous peak achieved in 1989. This surge is part of a broader trend […]