Business & Money | Tuesday 30 April, 2024 7:23 am

ICIEC, JSCB Agrobank, and Standard Chartered Collaborate to Strengthen Uzbek Economy with €150 Million Islamic Financing Initiative

In a landmark move to support the burgeoning Uzbek economy, the Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), a Shariah- based multilateral insurer and member of the Islamic Development Bank (IsDB) Group, has entered into a significant cooperation...

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Business & Money | Tuesday 30 April, 2024 1:39 am

Emirates Islamic becomes first Islamic bank in the region to introduce Fractional Sukuk for investors

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has launched Fractional Sukuk, an innovative new product catering to investors. The exclusive offering grants customers access to international Sukuk markets with a minimum investment as low as USD 25,000. The...

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Business & Money | Monday 29 April, 2024 11:06 am

Azizi Developments and Kettle Collective partner for Azizi Venice

Azizi Developments, a leading private developer in the UAE, has announced its partnership with UK-based design studio Kettle Collective for the concept design of twelve buildings in its approximately AED 30 billion mixed-use development, Azizi Venice, located in Dubai South. Founded in...

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Business & Money | Monday 29 April, 2024 10:21 am

Automechanika Riyadh opens tomorrow

Automechanika Riyadh, Saudi Arabia’s leading trade show for the automotive aftermarket, opens tomorrow for its sixth edition. From 30 April to 2 May 2024 at the Riyadh International Convention and Exhibition Centre (RICEC), the event will feature over 340 exhibitors from 26 countries and is...

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Business & Money | Monday 29 April, 2024 10:17 am

Al Rajhi Bank’s financing portfolio grows, NPL coverage hits 175%, says Chairman

Mr. Abdullah bin Sulaiman Al Rajhi, Chairman of the Board of Directors of Al Rajhi Bank, announced today that Al Rajhi Bank has achieved its highest quarterly profits since its founding, with a net income reaching 4,405 million riyals for the first quarter of 2024. This represents an increase of...

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Business & Money | Monday 29 April, 2024 10:10 am

DIFC delivers record 23 percent YoY growth in underwriting volumes, reaching annual $2.6 bn in gross written premiums

Dubai International Financial Centre (DIFC), the leading global financial hub in the Middle East, Africa and South Asia (MEASA) region, has consolidated its position as the principal hub for the (re)insurance industry, with the highest gross written premiums (GWP) recorded in its 20-year history at ...

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Business & Money | Monday 29 April, 2024 10:04 am

AIM Congress 2024: 450+ Dialogue sessions to be hosted with 330+ global partners

The AIM Investment Summit 2024 announced the organisation of over 450 dialogue sessions, featuring 900 speakers and experts from around the globe, in collaboration with 330+ local, international, and global partners. Twenty-four of these partners serve as supporting sponsors of the main conference, ...

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Business & Money | Monday 29 April, 2024 9:59 am

Response Plus Holding to distribute AED20 million in dividends to shareholders

The Board of Directors of Response Plus Holding PJSC (ADX: RPM), has announced the distribution of AED20 million in dividends to shareholders for the fiscal year ending on December 31, 2023. The announcement was ratified during the Annual General Assembly held on April 26 at the RPM...

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Business & Money | Monday 29 April, 2024 9:44 am

NEOM seals SAR 10B credit facility deal

NEOM announced it obtained fresh credit facilities worth SAR 10 billion ($2.67 billion), Reuters reported. The credit facility, which is based on the Murabaha structure, aims to support the stages of work progress in the main projects namely The Line, Oxagon, Trojena and Sindalah, Saudi Press...

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Business & Money | Monday 29 April, 2024 9:41 am

MESC secures SAR 100M credit facility from Al Rajhi Bank

Middle East Specialized Cables Co. (MESC) secured a Shariah-compliant credit facility worth SAR 100 million with Al Rajhi Bank on April 28, according to a statement to Tadawul. The facility, which runs for one calendar year, will go for financing the company's working capital, it...

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