Saudi Aramco sells $12bn bonds out of record $100bn demandState-owned Aramco’s bond issue is split into maturities ranging from three to 30 years
Emirates Islamic becomes world’s first Islamic bank to launch banking via WhatsApp The bank’s customers will now able to conduct daily banking activities via WhatsApp in a seamless and hassle-free manner
INTERVIEW- Russia’s largest bank in talks with top GCC funds and banks- deputy chairman Sberbank is expanding Islamic finance offerings and will decide by the end of 2019 on whether to open a GCC branch
In a joint statement issued earlier this morning, Uber has said that it will acquire its Dubai-based rival Careem for $3.1bn.Uber will pay $1.4bn in cash and the remaining in convertible notes for Careem which can then be converted into Uber shares. This is Uber’s priciest acquisition ever. The deal is expected to close in the first quarter of 2020 subject to regulatory approvals from the 15 countries where Careem operates.
Emlak Bank, Turkey’s sixth and newest Islamic bank, has opened its headquarters in Istanbul and is aiming for fifteen branches in seven regions by the end of the year, reported state news agency Anadolu.
Financial services and investment firm SHUAA Capital has confirmed it is in merger talks with Abu Dhabi Financial Group (ADFG).The company’s shares jumped 15 per cent to Dhs0.715 on the DFM when the news broke that discussions are underway regarding the possibility of creating a larger financial listed group.
DUBAI, March 24 (Reuters) – Qatari Islamic lender Masraf Al Rayan has hired banks ahead of a potential sale of U.S. dollar-denominated sukuk, or Islamic bonds, sources familiar with the matter said.
Saudi Arabia’s inclusion in major emerging markets stock indices from Monday is likely to suck in around $20bn in passive inflows, but unease after Jamal Khashoggi’s murder and sluggish reforms could lead some active foreign investors to steer clear.Saudi Arabia will be the biggest recent addition to the global indices, the largest of which is the MSCI Emerging Markets Index, which it joins from May. MSCI will give the kingdom a weight of 2.7 per cent, between Russia and Mexico.
Islamic banking assets in Qatar were valued at $97bn by the end of 2017, which constituted nearly 81% of the total Islamic finance assets, said QFC Authority chief executive officer Yousuf Mohamed al-Jaida. In the past five years, the growth of Islamic banking industry assets in Qatar has outpaced that of the conventional banking industry, he said at an event here on Monday.
Standard Chartered gets approval to open unit in Saudi Arabia. Saudi currently has 27 banks operating in the kingdom, 15 of which are foreign banks
Abu Dhabi National Oil Company (ADNOC) has sealed a $4bn midstream pipeline infrastructure deal with U.S. investment firms KKR and BlackRock, the government-owned company said on Sunday. ADNOC has been expanding through strategic partnerships since 2017. Last month it won a combined $5.8bn investment from Italy’s Eni and Austria’s OMV for a stake in its refining business to establish a new trading operation owned by the three partners.
LONDON – Investment banks have warned M&A teams in Britain they cannot pitch business to clients in the European Union if there is a no-deal Brexit without an EU “chaperone” sitting in on their meeting, sources familiar with the matter told Reuters.
Adopt AI or lose competitive edge, warns Oracle chief Speaking at Oracle OpenWorld, regional senior vice president Andrew Sutherland also praised Dubai’s “forward thinking” approach to technology