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Saudi inflation falls to 1.6pc in MarchInflation in Saudi Arabia decreased to 1.6% in March 2024 compared to the previous month, reports the kingdom’s General Authority for Statistics (GASTAT). The decline was mainly driven by Food & Beverages, which fell to 0.7% m-o-m in March, sai More… |
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Presight snaps up 51pc stake in Abu Dhabi tech venture AIQPresight AI Holding (Presight), an Abu Dhabi-listed company, has announced that it has reached an agreement with AIQ, a disruptive advanced technology pioneer, for a major stake in the company. AIQ is a joint-venture between global energy leader Adnoc an More… |
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London set to host second Global Wealth ConferenceThe Sovereign Wealth Fund Institute (SWFI) has announced the return of the Global Wealth Conference (GWC) to London for its second consecutive year from May 28 to 30, 2024. Building upon the resounding success of the inaugural event, GWC 2024 will once a More… |
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Fintech firms in KSA ‘double, bring in $1bn in investments’Fintech companies in Saudi Arabia have more than doubled by the end of 2023 compared to 2022 end bringing in investments worth SR4 billion ($1 billion) into fintech startups from several local, regional and global investors. In its latest industry report More… |
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DFM Q1 pre-tax net profit soars 171pc to $26.03mDubai Financial Market (DFM) has seen its first-quarter (Q1) 2024 net profit before tax soar 171% to AED95.6 million ($26.03 million), as its trading value reached over AED25 billion for the period. DFM’s Q1 net profit for Q1 2023 was AED35.3 million and its trading volume for the perio More… |
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Saudi banks funding profiles changing: S&PSaudi banks' funding profiles are changing amid a rapid expansion in lending, notably driven by new mortgages and underpinned by a state-backed push to increase home ownership, S&P Global Ratings said in a report. "Your Three Minutes In Banking: S More… |
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Spinneys $375m IPO increases shares in retail trancheSpinneys 1961 Holding, an operator of premium grocery retail supermarkets, has announced that following high levels of demand it will increase the number of shares allocated to the UAE Retail Offering of its $375 million IPO. The public offering to subscribers More… |
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Mezzan Holding shareholders set cash dividends at 20pcShareholders of Mezzan Holding have approved the Board of Directors’ recommendation to distribute cash dividends of 20% of the nominal value of the share (20 fils per share) for the fiscal year ended on December 31, 2023. At the Annual General Meeting, s More… |
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Confidence among finance professionals ‘hits highest level’Accountants and finance professionals are more confident on the global economy than they have been since Q2 2023. The latest ACCA (the Association of Chartered Certified Accountants) and IMA (Institute of Management Accountants) Global Economic Condition More… |
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Smasco announces IPO, to float 30% of issued share capitalSaudi Manpower Solutions Company (Smasco) plans to proceed with an initial public offering (IPO) offering 120 million (30%) of its total issued share capital and listing its ordinary shares on the Main Market of the Saudi Exchange. The Capital Market Authority More… |
