Mubadala Capital (MC), through a special purpose vehicle controlled by MC, and Pierre et Vacances have entered into a Tender Offer Agreement which sets the terms and conditions of the proposed acquisition by MC of all of Pierre et Vacances outstanding securities through an all-cash voluntary tender offer.
National Bank of Bahrain (NBB) has been named Best Retail Bank in Bahrain by Euromoney Awards for Excellence, acknowledging its progress in delivering customer-centric and secure retail banking solutions in the Kingdom.
The UAE's non-oil foreign trade surged by 13% during the first half to hit nearly AED2 trillion ($527.5 billion), driven by a surge in exports, said a report. The country’s non-oil exports jumped 24% from a year to hit AED452.8 billion ($123.3 billion), accounting for 23.4% of total non-oil trade.
The UAE economy has shown remarkable resilience to the conflict in the Middle East, supported by strong buffers, timely and well-targeted policy response including by the government and the CBUAE Financial Institution Resilience Package, and the rerouting of oil and other trade flows, an International Monetary Fund (IMF) mission has said.
First Abu Dhabi Bank (FAB), the UAE’s global bank, has reinforced its position as the highest-rated banking group in the MENA region and among the highest-rated globally, with AA- or equivalent ratings and stable outlooks following the latest affirmations by Moody’s, S&P Global Ratings and Fitch Ratings, the bank said.
The Association of Chartered Certified Accountants and the Union of Arab Securities Authorities held their first joint regional initiative, bringing together representatives from 11 Arab securities and capital market regulators to discuss emerging fraud risks and ways to strengthen governance and financial market resilience.
Bahrain Bourse has announced that it has sealed a strategic partnership with IDX, a global leader in corporate and investor relations websites, to strengthen the digital investor relations capabilities of listed companies at the kingdom’s stock exchange by offering advanced IR solutions.
Saudi-based Cenomi Centers has announced that the developer of its Westfield Riyadh project had secured SAR2.7 billion ($720 million) in finance from Riyad Bank which it will use to fund the lifestyle development's remaining construction costs, including a VIP lounge, a luxury retail wing and tenant fit-out support.
The Abu Dhabi Securities Exchange (ADX) Group and the Botswana Stock Exchange (BSE) have signed an agreement for the BSE to become the first African exchange to join the Tabadul hub, a cross-border trading and market connectivity platform.
Sav, the region’s rapidly growing consumer fintech platform, and Visa, a world leader in digital payments, have signed an exclusive five-year, multimillion-dollar strategic partnership that will see Visa become Sav's exclusive card network across the UAE and Saudi Arabia.
