Friday 25 September 2020

Banking recovery will stretch to 2023 and beyond

S&P Global Ratings expects the world's largest banking sectors, including more than half of G20s, to recover to pre-Covid-19 levels until 2023, or beyond.   Covid-19 and the oil price shock of 2020 are taking a heavy toll on global banks. S&P Global


Abu Dhabi-Saudi non-oil trade tops $134bn in 10 years

The value of non-oil trade in goods between the Emirate of Abu Dhabi and Saudi Arabia amounted to AED493.8 billion ($134.4 billion) over the past 10 years, a media report said. Last year saw AED55.3 billion of total trade exchanges, a growth of 83.9 percent over 2010 when the tot


UAE announces details new Economic Substance Regulations

The UAE Ministry of Finance (MoF) has announced details of the Cabinet Resolution No 57 of 2020 concerning Economic Substance Regulations.    The resolution was issued in consultation with the Organisation for Economic Cooperation and Development (OECD) and


Apex National in tie-up with Israel medical centre

Abu Dhabi-based Apex National Investment, a major investment company, and the Sheba Medical Center, the largest hospital facility in Israel, have signed an agreement to collaborate on healthcare technology and innovative solutions. The agreement was virtually signed by Apex Natio


DIEDC reviews developments of strategic initiatives

The Dubai Islamic Economy Development Centre (DIEDC) recently held its third virtual board meeting of 2020 and reviewed the progress of strategic initiatives made in 2020. Chaired by Sultan bin Saeed Al Mansouri, the meeting convened all the members of the Centre’s board


Mastercard launches Fintech Express

Mastercard has launched Fintech Express in the Middle East and Africa, a program designed to facilitate emerging fintechs’ launch and expansion as well as support digital payment innovators. Leveraging the power of partnerships and Mastercard’s expertise, technology,


Barings, Mubadala form financing solutions partnership

Barings, one of the world’s leading financial services firms, has formed the Barings Mubadala Enterprise (BME) – an evergreen origination platform seeking to provide financing solutions to European middle-market businesses -- in strategic partnership with Abu Dhabi's Mubadala.


Mubadala signs strategic agreement with top Russian bank

Mubadala Investment Company (Mubadala), an Abu Dhabi-based sovereign investor, said it has signed a strategic agreement with Sberbank, Russia’s largest bank and a leading global financial institution in Eastern and Central Europe, in bid to explore opportunities of mutual benefits.


Region’s first investor fellowship launched

startAD, the Abu Dhabi-based global accelerator powered by its partner Tamkeen, VentureSouq, King Abdullah University of Science and Technology (KAUST), Sharjah Entrepreneurship Center (Sheraa) and Hub71 have partnered to launch the region’s first Conscious Investor Fellowship (CIF).


HSBC shares fall to lowest level since 1995

Share price of HSBC,a  leading itnernational bank, fell to its lowest level since 1995 amid allegations of money laundering, a BBC report said.   In 2013 and 2014 the bank allowed frau

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