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Mary Sophia
Assistant Business Editor


AGTB is a digital bank licensed by the Financial Services Regulatory Authority of the Abu Dhabi Global Market. Photo: Abu Dhabi Awards
Gulf Islamic Investments fully acquires digital lender ATGB from Mubadala

The companies involved in the transaction did not disclose the value of the deal

June 01, 2022, 10:32 AM
ICD owns stakes in Emirates airline and Dubai's biggest bank, Emirates NBD. Reuters
Investment Corporation of Dubai revenue climbs 24% in 2021

Turnover rose to $46bn in 2021, driven by rallying oil prices and underpinned by a recovery in other sectors

May 31, 2022, 11:29 AM
The UAB leadership change comes at a time when UAE lenders are reporting an improvement in profitability. Photo: United Arab Bank
United Arab Bank names new chief executive

Lender appoints Shirish Bhide, who has previously held several senior roles at First Abu Dhabi Bank

May 30, 2022, 12:53 PM
Tamer AlMasri, co-founder of Jobedu. Novojax acquisition of Jobedu comes as NFTs soar in popularity Photo: Novajax
US Web3 company Novajax acquires Jordan streetwear brand Jobedu

The deal complements Novajax's efforts to bridge the gap between digital and physical worlds by tapping into blockchain

May 30, 2022, 10:54 AM
Aramex is the first UAE onshore company listed on the DFM to permit the full ownership of its free-floating shares by foreign investors. Pawan Singh / The National
Aramex raises foreign ownership limit to 100%

Move, which is effective from today, gives investors a chance to buy the company's stock as it embarks on next stage of growth

May 30, 2022, 8:44 AM
The ADX and the Abu Dhabi Department of Economic Development developed the UAE's first Spac regulatory framework. Photo: ADX
UAE's first Spac begins trading on ADX

ADC will look to acquire businesses in the UAE or the broader Mena region

May 27, 2022, 9:31 AM
Sri Lanka needs $4 billion over the next eight months to pay for imports as it faces a severe shortage of foreign currency required to buy essentials such as fuel and medicine. AP Photo
IMF says Sri Lanka needs to restore debt sustainability to secure fund's support

The island nation is battling its worst economic crisis since its independence in 1948

May 26, 2022, 3:20 PM
The Financial Harbour district in Manama. Bahrain is pushing to cut spending and achieve a balanced budget by 2024. AFP
Higher oil prices can support Bahrain's economic reforms, IMF says

Fund commends the kingdom's post-pandemic policy response and says authorities are 'committed to reforms'

May 26, 2022, 9:39 AM
Hardeep Singh Puri, oil and petroleum minister of India, said that transition to greener technologies will happen but it should not be rushed. Victor Besa / The National
Crude at $110 per barrel is 'not sustainable', Indian minister says

India is speeding up its plan to blend ethanol with petrol to help cut down crude imports in the long term

May 24, 2022, 3:55 PM
Drake & Scull faced mounting losses after a fall in oil prices in 2014 led to a decline in new projects and the company struggled to recoup receivables. Rich-Joseph Facun / The National
Drake & Scull swings to first-quarter loss amid restructuring

Contractor is focusing on court approval to carry out its reorganisation plan

May 24, 2022, 9:25 AM
Sheikh Khaled bin Mohamed at the signing of strategic energy partnership between Adnoc, BP and Masdar. Photo: Adnoc
Adnoc and Masdar deepen clean hydrogen pact with BP

The three companies are developing the H2Teesside blue hydrogen project in the UK

May 24, 2022, 6:08 AM
The UAE's tourism sector growth was largely due to the support and directives of the UAE’s leadership. Reuters
UAE's tourism sector growth in first quarter outpaced pre-Covid levels

Revenues of hotels in the country reached $2.9bn in the three-month period as visitor numbers picked up

May 19, 2022, 11:14 AM
Apicorp is a Saudi Arabia-based multilateral lender that is owned by the 10 members of the Organisation of Arab Petroleum Exporting Countries. Photo: Apicorp
Apicorp appoints new chief executive amid sustainable finance push

Former chief of Emirates NBD Capital KSA Khalid Al Ruwaigh replaces Ahmed Attiga, who served as the company's chief executive for five years

May 16, 2022, 11:21 AM
Mamo founders Asim Janjua and Imad Gharazeddine. Photo: Mamo
How three ex-Google executives are building Middle East's Venmo

Mamo, a peer-to-peer payment app, aims to expand to Saudi Arabia by 2023 and has set sights on Pakistan and Turkey

May 16, 2022, 4:30 AM
Saudi Arabia's revenue jumped 36 per cent to reach 278bn riyals while spending rose 4 per cent to 220bn riyals. SPA
Saudi Arabia posts $15.3bn budget surplus in first quarter amid oil rally

Oil revenue surged 58 per cent to $49bn as crude prices increased during the period

May 15, 2022, 6:29 PM