Finance Archives | Gulf Business

UAE’s Majid Al Futtaim issues $500m green sukuk

Kudakwashe Muzoriwa — Fri, 26 May 2023 02:52:31 +0000

The conglomerate will use the proceeds from its fourth green sukuk issuance to refinance an older $800m bond commitment due in May 2024

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Sovereign wealth fund QIA joins SoftBank, BlackRock in private credit push

Bloomberg — Thu, 25 May 2023 22:00:56 +0000

Sovereign wealth funds like the QIA have been increasingly looking at private credit, providing evidence of the market’s rapid growth

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ADNOC Logistics gets $125bn in orders for $769m IPO

Bloomberg — Thu, 25 May 2023 13:14:57 +0000

ADNOC sold 1.41 billion shares in its maritime logistics unit at Dhs2.01 a share, valuing the company at $4.05bn

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EFG Hermes Holding rebrands as EFG Holding

Neesha Salian — Thu, 25 May 2023 11:36:10 +0000

The change in the brand name will not impact the current management structure and reporting lines, day-to-day operations, or the level of support and cross-selling that will continue between the group’s three verticals

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Introducing TaxGPT, the AI-powered UAE corporate tax assistant

Neesha Salian — Thu, 25 May 2023 10:06:30 +0000

Virtuzone has launched TaxGPT to help UAE-based businesses get answers related to the upcoming corporate tax regime based on information from the UAE's MOF and FTA

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UAE’s FAB launches supply chain finance in Saudi Arabia

Kudakwashe Muzoriwa — Wed, 24 May 2023 12:08:36 +0000

The programme allows companies to monetise their receivables at competitive rates and get instant payments, without needing to borrow funds

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EFG Hermes reports 157% rise in net profit to EGP885m in Q1 2023

Neesha Salian — Wed, 24 May 2023 07:47:34 +0000

The group recorded a 129 per cent year-on-year rise in revenue to EGP4.5bn in Q1 2023

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Abu Dhabi development fund sees financing, investments cross Dhs189.7bn in 2022

Neesha Salian — Tue, 23 May 2023 10:20:40 +0000

According to its annual report, Abu Dhabi Fund for Development's investments benefitted 104 nations last year

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CBUAE removes board of directors of insurance company

Divsha Bhat — Tue, 23 May 2023 09:31:09 +0000

It is replaced it with a temporary committee of experts for six months

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UAE corporate tax: MoF issues 3 new ministerial decisions

Neesha Salian — Tue, 23 May 2023 08:03:09 +0000

According to the ministry, the three new decisions aim to enhance the flexibility of UAE's corporate tax regime and ensure a supportive business environment for all sectors

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