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Banking & Finance

MSX raises $32 billion in five years as Roundtable reveals Oman’s capital market growth

Held in the presence of Abdulsalam bin Mohammed al Murshidi, President of the Oman Investment Authority, and Mohammed bin Mahfouz al Ardhi, Chairman of...

Kuwait’s new legislation regarding public borrowing allows debt issuance up to 50 years, capped at KD30 billion

The law, announced by the Ministry of Finance, permits the issuance of financial instruments with maturities of up to 50 years and sets a...

Markets steady after Nasdaq’s biggest drop in two years

Europe’s Stoxx 600 index remained flat in early trading, while Asia-Pacific stocks pared earlier losses, recovering from a 1.75% drop to trade just 0.5%...

From chaos to glory: This is the story of Georges Elhedery, the new CEO at HSBC

Georges Elhedery, Co-CEO of Global Banking & Markets at HSBC, starts his mornings with a brisk run through London's iconic landmarks, culminating at HSBC's...

Truecaller and HDFC ERGO launch Fraud Insurance in India to combat digital scams

Truecaller has joined forces with HDFC ERGO to introduce Fraud Insurance to combat digital communication fraud in India.

Dubai offers interest-free loans for property repair amid weather damage

In response to the recent adverse weather conditions in the UAE, Dubai's Mohammed Bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME) has rolled out a generous initiative.

New law issued to tax foreign banks in Dubai by 20% annually

Dubai issues a law mandating 20% annual tax on foreign banks operating in the emirate.

Maisarah Islamic Banking Services rebrands to ‘Dhofar Islamic’

The rebranding is more than just a change in name; but it is about redefining the value proposition to its valued customers.

Expat remittances in Saudi Arabia hit decade low, despite surge in population

According to a recent Saudi report, the flow of remittances from foreign workers in Saudi Arabia witnessed a significant decline in 2023, marking the second consecutive year of downturn.

LuLu Group considers $1 billion IPO, eyes dual listing in Riyadh and Abu Dhabi

LuLu Group International, a major player in the Middle East's hypermarket sector, is gearing up for a potential initial public offering (IPO) that could shake up the region's financial landscape.

HSBC fined £57.4m by Bank of England for “Serious Failings” in customer deposit protection

HSBC has been slapped with a hefty £57.4 million fine by the Bank of England over what regulators have deemed "serious failings" related to protecting customer deposits.

Don't miss

National Life and General Insurance Company: Delivering value beyond insurance to customers

Oman’s largest insurer NLGIC is on course to become a regional multi-line, multi-country giant delivering value beyond insurance to the customers.

AI central to UAE’s economic diversification, says COP28 President-Designate

AI will contribute to the UAE’s net zero strategic initiative by 2050 and help unlock advances in climate progress, says H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology.

Economic growth in GCC to more than halve in 2023: World Bank report

However, the GCC growth will still outperform the wider Middle East and North Africa region, forecast to grow by 3% in 2023, down from 5.8% growth in 2022.

KitchenomiKs aims to transform on-demand food economy in Oman

KitchenomiKs cooks up dainty on-demand delicacies, tossing in emerging technologies, yummy multi-brand choices and seamless delivery.

Real estate sector in GCC experiencing ‘profound transformation’: Expert

The real estate sector in the GCC region is...
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