Arabian Post Staff Higher interest rates and OPEC oil production cuts will constrain near-term growth prospects for the major Gulf Cooperation Council (GCC) economies, but non-oil growth and, consequently, credit growth in the UAE and Saudi Arabia remain robust, S&P said in the latest report on the GCC banks. Despite a slight deterioration in asset quality indicators and an increase in the cost of risk, it expects […]
Arabian Post Staff Sukoon, formerly Oman Insurance, has acquired the UAE Life insurance portfolio of Chubb Tempest Life Reinsurance Ltd. An agreement to this effect was signed on August 24th, but the financial terms of the transaction were not disclosed. Chubb Tempest Life Reinsurance Ltd, is a private company incorporated in Bermuda, with UAE branch offices in Dubai and Sharjah. The transfer which covers unit-linked life insurance […]
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Arabian Post Staff AFAQ and BUNA systems have helped improve payments in the GCC region, Khaled Al Basias, Director Financial Sector Development, Saudi Central Bank, stressed while speaking at the Global Fintech Fest 2023. AFAQ system was created in 2020 to link all the GCC countries’ RTGS payments and central banks for foreign exchange transactions. Over 50 financial institutions are now part of it. The BUNA system […]
Arabian Post Staff Lack of access to family planning and contraception methods is a significant barrier to achieving gender equality, as outlined in the UN Sustainable Development Goals. It not only affects women’s health but also hinders their socio-economic empowerment. When women can’t control their reproductive rights, they often face challenges in pursuing education, entering the workforce, and contributing to the economy. This lack of access also […]
Arabian Post Staff Dubai International Financial Centre (DIFC) has enacted amendments to the Data Protection Regulations. The amendments enhance the current data protection framework, keeping the Centre at the forefront of data protection in the region. The amendments to the Data Protection Regulations address the means for better, safer and more ethical management of personal data processing and operations. The updated regulations provide clarity on: Personal Data […]
Arabian Post Staff Abu Dhabi Commercial Bank has announced that it has successfully priced a USD 650 million green bond, the proceeds of which will be used to finance eligible green assets as outlined in ADCB’s Green Bond Framework. The green bond is in line with ADCB’s climate strategy and reflects the Bank’s commitment to supporting customers in the transition to a net zero economy. Proceeds will […]
Arabian Post Staff Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a financing agreement with the National Bank of Egypt (NBE), reinforcing trade and economic relations between the UAE and Egypt. This landmark collaboration solidifies the longstanding bond between the two nations and showcases their commitment to mutual prosperity and growth. Under the terms of the agreement, a […]
Arabian Post Staff Alkhair Capital Dubai, a financial services company offering a comprehensive range of Shari’ah-compliant investment solutions, has launched Alkhair Capital Healthcare Sector Fund, the Islamic healthcare liquidity Fund domiciled in Dubai International Financial Centre (DIFC) with a target size of USD 100 million. The Shari’ah-compliant Fund, designed with an open-ended structure, is poised to invest in enterprises harnessing cutting-edge Artificial Intelligence (AI) to bolster healthcare […]
Arabian Post Staff Dirham has proven to be one of the most resilient currencies, retaining its value since the pandemic, with a 0.01% increase post Covid, and a 45% increase in GDP, according to new research from the experts at City Index. City Index analysed countries with the highest GDP and local currency strength against the USD to highlight which currencies have shown the largest growth following […]
By Nitya Chakraborty As the leaders of the INDIA alliance prepare for their third meeting in Mumbai on August 31 and September 1 to take forward the decisions taken at the last conclave in Bengaluru on July 17 and 18, one issue that should figure most prominently in their minds is how to project the […]
The post Economy – Mainly Acute Joblessness Must Get The Prime Focus In India Campaign first appeared on Latest India news, analysis and reports on IPA Newspack.
By James M Dorsey Saudi Arabia’s stunning sports acquisition blitz, alongside Qatari and Emirati European club purchases, may reshape the beautiful game, just not in ways Crown Prince Mohammed bin Salman and other Gulf rulers like Qatari Emir Tamim bin Hamad Al Thani envisioned. The Gulf’s impact on European and world soccer could be determined […]
The post A Global Challenge Emerging To Shifting Of Global Sports Capital To Arabian Sands first appeared on Latest India news, analysis and reports on IPA Newspack.
By K Raveendran The reported move by the Narendra Modi government to create a new post of Chief Investigation Officer of India (CIO) on the lines of Chief of Defence Staff (CDO) and the National Security Advisor (NSA) is a blatant attempt to circumvent the Supreme Court as a collateral target and institutionalise the use […]
The post Move To Bring CBI, ED Under One Supervision In PMO A Blatant Bid For Abuse Of Power first appeared on Latest India news, analysis and reports on IPA Newspack.
Arabian Post Staff Shariah-compliant Islamic Coin has announced it is working with Republic Crypto, the web3 advisory group within global digital finance. The collaboration includes white-glove support to promote Islamic Coin’s go-to-market strategy, along with advisory services focused on tokenomics, DAO governance, and long-term economic utility value. Republic Crypto will also help engage with potential strategic partners, exchanges, and market makers. Fine-tuning the Islamic Coin value proposition, […]
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Arabian Post Staff As part of NASA’s 2021 astronaut candidate class training programme, Emirati astronauts Nora AlMatrooshi and Mohammad AlMulla are on track with their extensive training regimen, with both conducting spacewalk training at NASA’s Neutral Buoyancy Laboratory (NBL) at the Johnson Space Center in Houston, Texas. Following the recent series of demanding exercises including survival training at Alabama’s Fort Novosel and a detailed orientation at the Marshall Space […]
Arabian Post Staff Dubai’s real estate market is poised for continued growth as the emirate celebrates a resurgent first half of 2023, with a substantial influx of 8.55 million international overnight visitors. This milestone not only propels Dubai beyond pre-pandemic tourism levels but also underscores its rapid recovery as the fastest-growing global destination. With a boastful 20% Year-on-Year (YoY) increase in visits, Dubai’s tourism success translates into […]
Arabian Post Staff Immigration services provider Envoy Global announced the acquisition of UAE immigration services firm Sesam Immigration. The announcement is the latest expansion by Envoy of its global footprint in strategic markets around the world. Sesam specializes in immigration services to local and international corporations operating in the UAE. The firm has existed for over two decades and has a suite of services, including immigration and […]
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Arabian Post Staff Japan National Tourism Organization (JNTO) announce remarkable resurgence of inbound tourism to Japan, with the Gulf Cooperation Council (GCC) countries leading the way. Alongside countries like Singapore, Vietnam, the United States, and Mexico, the GCC region has shown a strong recovery in visitor numbers, reaffirming Japan’s enduring appeal as a preferred travel destination. The first half of this year saw 13,537 GCC nationals visiting […]
Arabian Post Staff A new study has revealed the United Arab Emirates as ranking the top slot on the list of countries with the highest average temperature with 28.17°C. The study has been carried out by experts at UK company Utility Bidder, who also researched the years where the UK saw the biggest change in temperatures. The study also explores the areas of the UK which have experienced the biggest […]
Arabian Post Staff COP28 UAE Presidency has called on governments to demonstrate leadership by signing the first-ever Leaders Declaration on Food Systems, Agriculture and Climate Action during the Food Systems Summit in Rome. The Declaration will invite national governments to align their national food systems and agriculture strategies, with their Nationally Determined Contributions (NDCs), National Adaptation Plans (NAPs), and National Biodiversity Strategies and Action Plans (NBSAPs). It […]
Arabian Post Staff The Dubai International Financial Centre (DIFC) Courts reported a surge in the overall value of claims registered with the authority in the first six months of this year. In addition, the substantial uptake of additional ancillary services, such as Wills registration, further elevates Dubai’s common law jurisdiction as the region’s leading forum for international dispute resolution. The value of cases across all Divisions recorded […]
Arabian Post Staff Nasdaq Dubai welcomes the listing of a USD 300 million Sukuk by real estate developer Sobha Realty. The Islamic issuance listing introduces a new dimension to the GCC sub-investment grade Sukuk market by becoming the first of its kind to include a call feature. The Sukuk, which has a tenor of five years, offers investors an attractive annual profit rate of 8.75%, which is […]
Arabian Post Staff Dubai real estate developer Emaar Properties received credit rating upgrades from Fitch Ratings, Moody’s, and S&P Global, reflecting its strong financial performance and improved leverage ratios. Fitch Ratings has upgraded Emaar Properties Long-Term Issuer Default Rating to ‘BBB’ from ‘BBB-, with a Stable Outlook. Moody’s has similarly upgraded Emaar Properties PJSC’s long-term issuer rating to Baa2 from Baa3 with a Stable Outlook. S&P Global has […]
Arabian Post Staff The Abu Dhabi Department of Education and Knowledge (ADEK), the Ministry of Education in India, and the Indian Institute of Technology Delhi (IIT-Delhi) – India’s leading technical education and research institution – have signed a Memorandum of Understanding (MoU) to establish the first international campus of IIT-Delhi, with the formation of the new IIT-Delhi Abu Dhabi. Complementing the ongoing UAE-India Comprehensive Economic Partnership Agreement […]
Arabian Post Staff Issuance of sukuk denominated in foreign currency was up about 9% in the first half of 2023, thanks to Saudi Arabia and a few new issuers, and further issuance is anticipated this year, since some Gulf issuers are already prepared, just waiting for the best launch window, S&P said in a report. The agency forecasts that global issuance will total $160 billion-$170 billion this […]
