Sunday 24 September 2017

Global FinTech leaders to take centre-stage at Abu Dhabi summit

Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, has brought together a dynamic line-up of global FinTech leaders, innovators, financial regulators and trend-setters at the upcoming FinTech Abu Dhabi in October.   This will also b


IFC to invest $150m in Egypt agriculture sector

The International Finance Corporation (IFC) has agreed to pump $150 million in direct investments in Egypt’s agriculture sector in partnership with the country’s private sector, a senior Egyptian government official said. The investments aim at developing the country&


Qatar Insurance Company unit's IPO 'a big draw'

OQIC, a premier insurer in Oman, is offering 25 million offer shares at an offer price of 160 baisa per offer share, (comprising a nominal value of Bzs 100 per offer share, premium of Bzs 58 per offer share and offer expenses of Bzs 2 per offer share). Following the IPO, the comp


Saudi to introduce bankruptcy law early next year

Saudi Arabia is set to introduce a bankruptcy law early next year as part of efforts to attract foreign investment and encourage private sector activity, said a report, citing Saudi-owned broadcaster Al Arabiya reported citing the kingdom's Trade and Investment Mminister Majid Al-Qasabi.&


Global economic growth to forecast to hit 3.5pc

The global economy started 2017 strong with real GDP growth gaining momentum and rising to 3.6 per cent in Q1 2017 and  the previous uncertainty surrounding the global growth forecast receded since May 2017, says a Euromonitor International  report.  


ADGM partners with Japan body for fintech

The Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM) and Financial Services Agency of Japan (FSA) have completes a framework for co-operation to promote innovation in financial services in Japan and ADGM.   This co-operation framework recognis


UAE offers $7.5bn in grants in H1; up 78pc

Domestic and international grants provided by the UAE rose 73.8 per cent to Dh 27.7 billion ($7.5 billion) during H1 2017, from a total of Dh 15.9 billion in 2016, according to the UAE Ministry of Finance. ''Grants provided by the UAE in the first six months of the year a


KHC closes Banque Saudi Fransi stake deal

Kingdom Holding Company, an investment firm owned by Saudi billionaire Prince Alwaleed bin Talal, said it has  completed the acquisition of 16.2 per cent stake in Banque Saudi Fransi for SR29.5 ($7.8) per share; a deal worth SR5.8 billion ($1.5 billion). The Saudi group had


Saudi to launch $2.6bn entertainment investment firm

Saudi Arabia’s Public Investment Fund (PIF) is in the process of developing a new company with an initial capitalization of SR10 billion ($2.66 billion) to act as its investment arm in the kingdom’s growing entertainment sector. The company will play an active investm


InfoFort launches VAT compliance solutions for GCC

InfoFort, an Aramex company and a leading information management solution provider in the Middle East and Africa, has launched VAT Compliance and Automation Solution for the GCC markets. The GCC-wide value-added tax (VAT) implementation that comes into effect in 2018, impacts how

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