Banking & Finance


Dubai Islamic Slumps As NMC Exposure Risks Wiping 45% Of Profit

Middle East Business News - Published date: .

Dubai-based bank had about $425m of exposure at the end of March, while NMC owed its subsidiary Noor Bank about $116m Read more

Saudi-backed Augmented-reality Start-up To Explore A Sale

Middle East Business News - Published date: .

Saudi Arabia's sovereign wealth fund PIF among Magic Leap's big name investors Read more

Video: India Is Promised $1 Billion To Fight Covid-19 Pandemic As Deaths Rise

Middle East Business News - Published date: .

The World Bank has pledged one billion dollars to India to help tackle the coronavirus pandemic there. The city of Mumba... Read more

Dubai Islamic Bank, Noor Bank Exposure To NMC At $541m

Middle East Business News - Published date: .

Abu Dhabi Commercial Bank has requested NMC be placed in administration Read more

Abu Dhabi Commercial Bank Requests NMC Be Placed In Administration

Middle East Business News - Published date: .

Embattled NMC has said such a move would endanger lives during coronavirus pandemic Read more

Dubai Chamber Donates $2.7m To Coronavirus Solidarity Fund

Middle East Business News - Published date: .

Chamber has already received a 'considerable number' of pledges from multinationals and family businesses in the emirate Read more

NMC Health Executive Chairman Calls For Patience From Creditors

Middle East Business News - Published date: .

NMC board has appointed PwC to advise on liquidity and operational matters Read more

NMC Convertible Bondholders Tap PJT Ahead Of Debt Restructuring

Middle East Business News - Published date: .

PJT is advising a group of investors in NMC Health's $360 million of convertible bonds due 2025 Read more

NMC Convertible Bondholders Tap PJT Ahead Of Debt Restructuring

Middle East Business News - Published date: .

PJT is advising a group of investors in NMC Health's $360 million of convertible bonds due 2025 Read more

Inaugural $9.5m Emirates Loto Draw Rescheduled For April

Middle East Business News - Published date: .

First jackpot draw was due to take place on Saturday, tickets will be carried forward Read more

Lulu Exchange App Sees Surge In Downloads

Middle East Business News - Published date: .

LuLu Money has over 350,000 downloads to date, 15,000 of which were in the last 10 days Read more

Coronavirus: Bahrain Orders All Bank Notes To Be Disinfected

Middle East Business News - Published date: .

Central Bank of Bahrain has issued directive to all money changers in the kingdom Read more

Covid-19: Saudi Delivery App Raises Funds As Virus Lockdown Boosts Demand

Middle East Business News - Published date: .

Nana raised $18 million from investors including venture capital fund STV and Middle East Venture Partners Read more

Gulf Sovereign Wealth Funds Could Shed $300bn Amid Covid-19 Chaos

Middle East Business News - Published date: .

Hedge funds and private-equity firms on Wall Street could lose a substantial piece of business as Gulf funds channel wea... Read more

UAE Central Bank Orders ATMs To Be Replenished With New Banknotes

Middle East Business News - Published date: .

Banks also asked to sanitising all ATMs on a regular basis and provide disposable latex gloves Read more

Abu Dhabi Banks Announce 17 Incentives To Help Amid Coronavirus Outbreak

Middle East Business News - Published date: .

The move is designed to provide for the immediate needs of people and SMEs impacted by the coronavirus Read more

Abu Dhabi Increases ADDH's Portfolio, Rebrands As ADQ

Middle East Business News - Published date: .

Additional companies added to the renamed ADQ's portfolio include Abu Dhabi Securities Exchange (ADX) and Image Nation Read more

SoftBank Said To Have Held Talks With Mubadala, Elliott Management On Going Private

Middle East Business News - Published date: .

SoftBank instead decided to move ahead with a plan to sell assets to pay down debt and boost a share buyback Read more

Dubai-based World Investments Invests $258m In Australian Xinja Bank

Middle East Business News - Published date: .

World Investments already has significant equity holdings in banks across Europe and the Middle East Read more

UAE's Amanat Posts 40% Hike In Net Profit Despite Bahrain Hospital Losses

Middle East Business News - Published date: .

Amanat CEO says Royal Hospital for Women & Children is expected to become profitable in late 2020 Read more