Saturday 2 December 2023

Saudi inflation eases slightly to 1.6pc in October

Saudi Arabia experienced a decrease in inflation to 1.6% compared to the preceding month, as per the latest data from the General Authority for Statistics (GASTAT).    The rise in the consumer price index (CPI) during this period was predominantly driven by


Net zero asset manager HYCAP Group expands to UAE

HYCAP Group, the UK-based net zero asset management company with clean hydrogen at its core, has opened an office in Abu Dhabi Global Market (ADGM) to support its strategic expansion to the region.    At a private event during Abu Dhabi Finance Week, HYCAP


SEE Institute unveils 2030 net zero emissions building

SEE Institute, located in The Sustainable City, Dubai, has unveiled its revolutionary 2030 net zero emissions building, a 5,000-sq-m facility that features an innovative design that prioritises demand-side management through a combination of passive and active design elements.


Multiple new hedge funds being set up in DIFC

Dubai International Financial Centre (DIFC), a leading global financial hub in the region, has confirmed that  unprecedented numbers of hedge funds continue to set up in the Centre, boosting Dubai’s reputation as the region’s top location for the industry.  


Beltone 9M operating zooms 271pc to record $30.96m

Beltone Financial Holding, has seen its nine-month (9M) operating revenue zoom 271% to record EGP957 million ($30.96 million) and net profit soar 161% to EGP86 million.   In 9M 2023, the company witnessed remarkable transformation and restructuring that led to a


Islamic banking to hit $4trn boosted by fintechs

Islamic banking is undergoing a historic transformation propelled by groundbreaking fintech advancements. In the last four years, assets in Islamic banking have surged from $1.8 trillion to $2.8 trillion, with a projected leap to an astounding $4 trillion by 2026, primarily driven by t


DIFC set to become region's hedge funds hub

Dubai International Financial Centre (DIFC), a leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, has confirmed that an unprecedented number of hedge funds continue to be set up in the centre, boosting Dubai’s reputation as the region’s top loca


Investcorp Capital posts 44% rise in net profit

Investcorp Capital, an investor in private markets and provider of capital financing services in the alternative investments space, on Tuesday announced its financial results for Q1 FY24 (ending 30 September 2023), with the company delivering positive growth underpinned by stro


Bapco Energies completes amend and extend of $2.2bn facility

Bapco Energies, the integrated energy company leading the energy transition in Bahrain, announced on Tuesday the successful closing of its $2.2 billion dual-tranche sustainability-linked term facility.  The transaction incorporates an additional $300 million green shoe optio


GCC lending sees marginal impact of higher interest rates

The GCC banking sector witnessed the initial impact of higher lending rates during Q3-2023 as credit facilities reported by listed banks in three out of six countries in the region declined as compared to Q2-2023, says Kamco Invest.    Nevertheless, aggrega

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