Tuesday 19 March 2024
 
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Moove secures $100m Series B round; plans expansion

Moove, a global mobility fintech, has announced that it has raised $100 million in a Series B funding round, to expand its global mobility business and increase vehicle supply.    Moove will use the funds to extend its operations to 16 markets by the end of

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Stellantis increases stake in eVTOL firm Archer Aviation

Stellantis NV and Archer Aviation today announced that Stellantis recently completed a series of open market purchases of ~8.3 million shares of Archer’s stock.   This signals Stellantis’ continued confidence in Archer’s plans to bring electric

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ADIB named Best Bank for sustainability linked sukuk

Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has been recognised as the Best Bank in the Middle East for Sustainability Linked Bonds/ sukuk at the Global Finance 2024 Sustainable Finance Awards.    The award recognises the recent issuance

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NMC, Dubai Islamic Bank reach out-of-court settlement

NMC Healthcare group (NMC), one of the largest integrated private healthcare providers in the United Arab Emirates, and Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, have announced the amicable resolution and signing of an out-of-court settlement of all litigation, current an

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Investment app users in the UAE 'may reach 1m by 2028'

Investment app users in the UAE may exceed 1 million in 2028, while the number of app downloads may reach 47 million, say analysts of UnaFinancial.   According to data.ai, the number of downloads of investment applications increased from 67,300 in 2021 to 532,53

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DIFC forges ahead with Sustainable Finance Catalyst

Dubai International Financial Centre (DIFC) is driving actionable commitment towards climate change by implementing pledges made by finance industry stakeholders at COP28 UAE in December last year.    The Centre reaffirmed its dedication to support the fina

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Abu Dhabi Chamber and ADGM boost partnership

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed a Collaboration Agreement with the Registration Authority (RA) of Abu Dhabi Global Market (ADGM) to support the business and investment environment in Abu Dhabi.    This agreement will furthe

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Top 10 Saudi banks’ performance stays robust: report

The performance of the top 10 banks in Saudi Arabia is largely robust and positive and operating income grew by 9.5 percent reflecting the effect of higher Non-Interest Income (NII), said a new study.    The year also saw NIMs improving by 3.5 percent with

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Arabian Drilling posts all-time record revenue of $930m in 2023

Arabian Drilling, a leading national onshore and offshore drilling contractor in Saudi Arabia, has posted an all-time high record revenue of SR987 million and SR3.48 billion ($930 million), for the Q4 2023 and full-year 2023 respectively.   The

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du wins licences to offer digital financial services

Emirates Integrated Telecommunications Company (EITC -du) today announced that it has received licences from the Central Bank of the UAE to offer new digital financial services.    This decision positions EITC at the forefront of the evolving fintech landsc

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