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Cash or Digital? Central Banks Explore Evolving Currency Landscape

The jingle of coins and the rustle of bills may become a relic of the past as central banks around the world delve into the potential of central bank digital currencies (CBDCs). Driven by the burgeoning digital economy and the growing popularity of cashless transactions, these government-backed digital tokens aim to streamline payments and enhance financial inclusion. But will CBDCs completely dethrone physical cash? The rise of […]

Bangladesh Seeks Chinese Backing For BRICS Membership Bid

Saudi Debt Market Surges as Sukuk Issuance Reaches New High

The Saudi Arabian debt market experienced significant growth in 2023, with the value of outstanding sukuk (Islamic bonds) reaching a record high of 18. 3% of the country’s gross domestic product (GDP), according to a recent report. This surge highlights the increasing popularity of sukuk as a financing tool for both government and corporate entities in the kingdom. The report attributes this growth to several factors. Firstly, […]

IMF Extends Lifeline to Ukraine with $2. 2 Billion Disbursement

The International Monetary Fund (IMF) has authorized a much-needed disbursement of $2. 2 billion to Ukraine. This financial aid package aims to bolster the war-torn nation’s economy, which has been severely impacted by the ongoing conflict with Russia. The IMF’s approval comes as Ukraine grapples with a multitude of economic challenges. The war has disrupted critical supply chains, crippled industrial production, and displaced millions of Ukrainians from […]

Anatomy Of The Building Fire Tragedy In Kuwait

Markaz Solidifies Position as Global Real Estate Leader

Kuwait Financial Centre Markaz, a prominent figure in the MENA region’s asset management and investment banking scene, has solidified its position as a leader in global real estate investment. The company boasts a history of accomplishment, having executed over 95 projects valued at more than USD 2. 3 billion across various markets and property types in the US and Europe. Markaz’s commitment to delivering exceptional value to […]

New data reveals slow progress on deforestation in Southeast Asia

SINGAPORE – Media OutReach Newswire – 28 June 2024 – New data from the Accountability Framework initiative (AFi) and CDP shows that achievement of deforestation- and conversion-free supply chains is possible, but still uncommon around the world. The AFi and CDP examined hundreds of company disclosures and revealed their findings in Time for Transparency. The report provides the first clear and quantitative look at the extent to […]

Phillip Nova Unveils the Guide to AUD/USD Trading: Market Dynamics, Technical Patterns, and Key Indicators

SINGAPORE – Media OutReach Newswire – 28 June 2024 – In the competitive realm of Forex trading, Phillip MetaTrader 5 introduces zero spreads and zero commission on the AUD/USD currency pair, aiming to redefine the trading experience. Delve into the intricacies of the AUD/USD pair, influenced by economic indicators, technical trends, and global events. This article provides valuable insights into its volatility drivers and effective strategies for […]

Bangladesh Seeks China’s Backing for BRICS Membership Bid

By Tajul Islam On June 25, Liu Jianchao, the visiting Minister of the International Relations of the Communist Party of China (CPC)’s Central Committee reaffirmed China’s commitment to fostering extensive cooperation with Bangladesh. During a courtesy call on Bangladesh President Mohammed Shahabuddin at the Bangabhaban, Liu emphasized China’s dedication to bolstering development ties and assured that China would continue to support Bangladesh’s growth in various sectors. The relationship between […]

EFT Solutions announces FY2023/24 annual results, Net Profit increased by over 60% YoY

Proposed a final dividend of HK2.0 cents per share Highlights: Revenue generated from provision of system support and software solution services increased by 26.9% to approximately HK$87.7 million. Gross profit increased by 32.9% to approximately HK$62.2 million. Net profit increased by 61.8% to approximately HK$31.2 million. Earnings per share was HK6.51 cents. The Board recommended the payment of final dividend of HK2.0 cents per share. HONG KONG […]

Space: Ideation Hub within the OctaTrader app

OctaTrader’s Ideation Centre KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 28 June 2024 – Octa‘s mission as a global broker is to make trading more accessible and understandable. Catering to the most popular demands of the traders’ community, the Octa team has enhanced its proprietary trading platform, OctaTrader, by adding Space, a new toolkit in the OctaTrader ecosystem. Space is a customisable analytics hub built into […]

Dubai’s Al Mal Capital REIT Expands Portfolio with Kent College Acquisition

Al Mal Capital REIT (AMCREIT), the first real estate investment trust (REIT) on the Dubai Financial Market (DFM), has bolstered its educational sector holdings through the acquisition of Carnation Education LLC. Carnation Education holds the freehold land and buildings of Kent College Dubai, a well-established K-12 institution. This strategic move expands AMCREIT’s portfolio diversification and strengthens its presence across multiple emirates. The company now boasts assets in […]

Former Shuaa Shareholder and Auditors Remain Accountable for 2023 Discrepancies

Dubai-listed Shuaa Capital, a leading investment and financial services company in the region, is likely to hold its former largest shareholder and its auditors accountable for discrepancies identified in the company’s 2023 financial statements. The news comes after Shuaa disclosed significant errors in its 2023 financial reporting, prompting an investigation by the company’s board of directors. The investigation revealed that certain accounting practices by the former majority […]

Masdar Vies for Brookfield’s Spanish Renewables Portfolio

Arabian Post Staff -Dubai Masdar, a clean energy company from the United Arab Emirates, has emerged as a contender in the race to acquire Saeta Yield, the Spanish renewables unit of Brookfield, a Canadian asset manager. The news comes from a report published by Spanish newspaper Cinco Dias on Friday, citing unnamed financial sources. According to the report, Saeta Yield is estimated to be valued at €1. […]

Saint-Gobain Strengthens Global Presence with Fosroc Acquisition

French building materials giant Saint-Gobain has solidified its position in the international construction chemicals market by acquiring Dubai-based Fosroc for a cool $1. 03 billion. The all-cash deal, announced on June 27, 2024, is expected to close in the first half of 2025, following regulatory approvals. This acquisition marks a significant stride for Saint-Gobain’s ambitious growth strategy, particularly in high-growth regions. Benoit Bazin, Chairman and CEO of […]

Unleash the Future of ESG: The World Green Organisations’s “ESG Xchange 2024: ESG for Climate Actions International Summit”

HONG KONG SAR – Media OutReach Newswire – 28 June 2024 – The escalating global climate crisis and frequent extreme weather events demand urgent action. Hong Kong must play a significant role in addressing climate change, as highlighted by last year’s heavy rainstorm. The World Green Organisation’s (WGO) “ESG Xchange 2024: ESG for Climate Actions International Summit” will focus on ESG standards, carbon neutrality, and sustainability. The […]

DBS and Mashreq Strike Deal for Swift Cross-Border Payments

Arabian Post Staff -Dubai Singapore’s DBS Bank and Dubai-based Mashreq Bank have announced a collaboration to revolutionize cross-border payments for Mashreq’s retail customers. This partnership will enable near-instant, same-day international money transfers to select markets across Asia Pacific, Europe, and the Americas. The initiative leverages DBS’s established cross-border payment solution, DBS Globesend. This platform facilitates cost-effective and transparent international transactions in up to 132 currencies across 190 […]

HONMA Golf Announces Annual Results for FY2023/24 Sustained Net Profit Growth and Robust Cash Flow

HONG KONG SAR – Media OutReach Newswire – 28 June 2024 – HONMA Golf Limited (“HONMA”; together with its subsidiaries, the “Group”; HKEX stock code: 6858), one of the most prestigious golf brands worldwide, announces its consolidated annual results for the year ended 31 March 2024 (the “Period”). Financial Highlights Due to negative impact from global economic uncertainty and retail sentiments, the Group’s revenue decreased by 11.1% […]

Abu Dhabi National Oil Company Flexes Financial Muscle in Global Energy Market

Arabian Post Staff -Dubai For decades, Abu Dhabi National Oil Company (Adnoc) embodied the image of a traditional state-controlled oil producer, content to focus on its vast reserves. However, that perception is undergoing a dramatic transformation. Armed with a $150 billion war chest, Adnoc is rapidly emerging as a major player in the global energy market, actively pursuing strategic acquisitions. This week, Adnoc sent shockwaves through the […]

Nan Fung Group Introduces HID-enabled Employee Badge in Apple Wallet for Employees and Tenants of its Flagship Building AIRSIDE

Transforming the employee experience in a modern workplace and accelerating the adoption of digital access infrastructure in Asia’s commercial real estate HONG KONG SAR – Media OutReach Newswire – 28 June 2024 – Nan Fung Group (Nan Fung), a privately-held conglomerate with global interests in real estate development, has partnered with HID, a worldwide leader in trusted identity solutions, to introduce a new employee badge in Apple […]

Saudi Arabia Lights Up the Future with Trio of Mega-Solar Projects

Saudi Arabia is taking a significant leap towards its renewable energy goals with the signing of Power Purchase Agreements (PPAs) for three colossal solar photovoltaic (PV) projects. ACWA Power, a leading developer and operator of power plants, joined forces with Badeel, a subsidiary of the Public Investment Fund (PIF), and SAPCO, a subsidiary of Saudi Aramco, to ink these landmark deals with the Saudi Power Procurement Company […]

Turkish Parliament Tightens Cryptocurrency Reins

The Turkish Parliament (TBMM) has enacted a new law establishing a stricter regulatory framework for cryptocurrency assets. The legislation aims to combat illegal activities within the crypto space while providing a more controlled environment for investors. A key provision of the bill targets unauthorized crypto service providers. Individuals and legal entities operating without the requisite authorization face imprisonment ranging from 3 to 5 years. This stipulation seeks […]

Tradewind Finance Pays Tribute to Customers on MSME Day

HONG KONG SAR – Media OutReach Newswire – 27 June 2024 – This MSME Day, Tradewind Finance, a global trade finance provider, is celebrating the thousands of SME customers it has served over the years with reliable capital to grow and thrive. Dubbed the “backbone” of economies, micro, small and medium-sized enterprises (MSMEs) make up 90% of businesses globally and account for over 70% of jobs worldwide, […]

Central Bank Unveils Open Finance Framework to Bolster UAE’s Financial Tech Ambitions

The Central Bank of the United Arab Emirates (CBUAE) has announced the implementation of a groundbreaking Open Finance Regulation. This framework aims to solidify the foundation for secure and efficient open finance services, fostering innovation and propelling the UAE to the forefront of the financial technology (FinTech) landscape. Unveiled on April 15, 2024, the regulation outlines a comprehensive approach to governing the licensing, supervision, and operation of […]