| Saudi Arabia’s private equity market sees $4bn in transactions Saudi Arabia’s private equity sector has been on an upswing for the past five years, culminating in transactions worth $4 billion in 2023, according to MAGNiTT. |
| Dubai sees 550% annual rise in global SMEs attracted to the emirate Asian and Australian businesses helped fuel a 550 percent annual rise in small and medium enterprises setting up in Dubai in 2023, according to a report. |
| Closing Bell: Saudi main index closes in green at 12,607 Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 22.44 points, or 0.18 percent, to close at 12,607.98. |
| Gulf Bank expands ‘Ayadi’ service to branches and ITMs Gulf Bank is spreading the joy of Eid Al-Fitr with its customers and the public, by extending its “Ayadi” service to most of its branches and ITMs across Kuwait. The “Ayadi” service is now available at most of Gulf Bank branches, totaling over 50 in number. |
| Saudi Arabia’s non-oil exports up 0.8%, latest official figures show Saudi Arabia’s non-oil exports increased 0.8 percent in January compared to the same month in 2023, official data showed. |
| Closing Bell: TASI slips for 3rd consecutive day as market turnover hits $2.65bn Saudi Arabia’s Tadawul All Share Index slipped for the third consecutive day on Tuesday, losing 71.40 points to close at 12,585.54. |
| UAE’s treasury sukuk auction hits $2.13bn: Finance Ministry The UAE’s treasury sukuk auction received bids totaling 7.83 billion dirhams ($2.13 billion), signaling a promising trajectory for the country’s financial landscape. |
| UAE sees region’s highest bank branch revenues: top Roland Berger executive UAE bank branches are witnessing the highest revenues in the region, amounting to $18.6 million per branch, according to a top executive at Roland Berger. |
| Boubyan Bank’s AGM approves distribution of 8% in cash dividends, 6% in bonus shares Chairman of Boubyan Bank Abdulaziz Abdullah Dakheel Al-Shaya, stated: “Boubyan Bank has successfully concluded its 5-year strategy ‘Boubyan 2023’, launched in 2019 that aimed at complete and positive transformation of its business operations. |
| Saudi business registrations rise 12% to 1.12m, minister says Saudi Arabia’s business registrations saw a notable increase of 12 percent from 2019 to 2023, reaching a total of over 1.12 million commercial records, a top official said. |
| Saudi Arabia’s non-oil exports up 0.8%, latest official figures show Saudi Arabia’s non-oil exports increased 0.8 percent in January compared to the same month in 2023, official data showed. |
| Closing Bell: TASI sheds points to close at 12,657 points Saudi Arabia’s Tadawul All Share Index closed at 12,656.94 points on Monday, marking a decrease of 139.15 points or 1.09 percent. |
| Abu Dhabi’s Mubadala hires banks for debut 10-year sukuk, document says Abu Dhabi sovereign wealth fund Mubadala Investment Co. has picked banks for its debut 10-year sukuk, a document seen by Reuters on Monday showed. |
| UAE’s abroad investments performing well despite economic headwinds: top official The UAE has strengthened its position in the global economy, with its overseas investments proving resilient amid economic fluctuations, said a senior official. |
| Saudi Real Estate Fund boosts homeownership with $257m for Sakani program Homeownership in Saudi Arabia is set to increase as the Real Estate Development Fund deposited SR963 million ($256.7 million) into the accounts of Sakani beneficiaries for March. |
| Kuwait’s trade surplus with Japan rises 53.4% in February Kuwait’s trade surplus with Japan surged 53.4 percent year-on-year in February to $652 million, driven by energy products, as exports outpaced imports significantly. |
| Saudi Arabia’s point-of-sale transactions grow 11% to reach $14.35bn in January Point-of-sale payments in Saudi Arabia recorded an 11 percent annual increase in January to reach SR53.8 billion ($14.35 billion), the latest data issued by the Saudi Central Bank showed. |
| Closing Bell: Saudi main index slips to close at 12,796 Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 39.56 points, or 0.31 percent, to close at 12,796.09. |
| Saudi MSMEs see 20% growth in credit offerings Credit facilities provided to micro, small, and medium enterprises in Saudi Arabia saw a 20 percent rise in 2023 compared to the preceding year, marking the highest growth rate for 3 years. |
| Saudi media giant SRMG hits record high share price of $89.27 on Sunday The share price of Saudi Research and Media Group surged by 9.96 percent on Sunday, reaching a historic high of SR335.60 ($89.48) since its debut on Tadawul. |
| UAE travel tech sets high ambitions for Saudi expansion The burgeoning expatriate community and digital surge in Saudi Arabia have beckoned UAE-based travel tech startup Tumodo to expand its horizons. |
| UAE’s industrial exports surge by 60% to $50bn in 3 years: minister The UAE’s industrial exports surged by 60 percent over the past three years, amounting to a projected 187 billion dirhams ($50.9 billion), according to a minister. |
| Early-stage startups across the MENA region secure funding rounds Startups throughout the Middle East and North Africa region are experiencing a surge in funding, significantly energizing the entrepreneurial ecosystem. |
| Saudi deals prompt Pakistani IT firms to eye $3.5bn in exports Major deals with Saudi firms have left Pakistan’s information technology exporters hopeful of hitting the $3.5 billion trade milestone in 2024. |
| Saudi Arabia boosts its maritime connectivity with India Saudi Arabia’s King Abdulaziz Port has strengthened connections to India’s nautical hubs thanks to increased cooperation between two Gulf maritime bodies. |
| Saudi deals prompt Pakistani IT firms to eye $3.5bn in exports Major deals with Saudi firms have left Pakistan’s information technology exporters hopeful of hitting the $3.5 billion trade milestone in 2024. |
| Saudi Arabia’s main index rises to close at 12,835 Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 96.32 points, or 0.76 percent, to close at 12,835.65. |
| Almost all Saudi airports achieve 100% complaint resolution in February: GACA Ten out of the 11 airports in Saudi Arabia that received passengers’ complaints in February resolved them on time, according to the General Authority of Civil Aviation. |
| UAE Islamic banks assets hit $191bn: CBUAE UAE Islamic banks saw their asset values rise to 703 billion dirhams ($191.4 billion) by the end of 2023 in what was an 11 percent annual increase, official data showed. |
| The Arab Energy Fund reports highest-ever net income of $225m The Arab Energy Fund’s net income reached an all-time high of $225 million in 2023, marking a 51 percent increase driven by asset growth and a favorable interest environment. |
| Closing Bell: Saudi main index slips to close at 12,739 Saudi Arabia’s Tadawul All Share Index dipped on Wednesday, losing 64.67 points, or 0.51 percent, to close at 12,739.33. |
| UAE Central Bank follows US Fed move, holds interest rates The Federal Reserve held interest rates steady on Wednesday, but policymakers indicated they still expect to reduce them by three-quarters of a percentage point by the end of 2024 despite stodgier expected progress towards the US central bank’s 2 per cent inflation target. |
| UAE’s industrial exports surge by 60% to $50bn in 3 years: minister The UAE’s industrial exports surged by 60 percent over the past three years, amounting to a projected 187 billion dirhams ($50.9 billion), according to a minister. |
| Qatar’s credit rating upgraded to ‘AA’ amidst strong economic outlook: Fitch Qatar’s long-term foreign currency issuer default rating has been upgraded to ‘AA’ with a stable outlook by Fitch Ratings, driven by the country strengthening its external balance sheet. |
| Saudi PIF ranked 2nd among GCC’s sovereign wealth funds with $925bn in assets Saudi Arabia’s Public Investment Fund has soared in an annual global ranking of sovereign wealth organizations, thanks to a 55 percent increase in assets under management. |
| Saudi EXIM exceeds annual credit facilities target by 33% The total value of credit facilities implemented by the Saudi Export-Import Bank in 2023 reached SR16.5 billion ($4.39 billion), exceeding the annual target by 33 percent. |
| Saudi Arabia offers $182m incentive package for mining investors Investors eyeing opportunities in Saudi Arabia’s mining sector stand to gain from a new incentive package totaling nearly SR685 million ($182 million) in financial facilitation. |
| Closing Bell: TASI up for 3rd consecutive day to close at 12,804 Saudi Arabia’s Tadawul All Share Index edged up for the third consecutive day, as it gained 31.54 points to close at 12,804. |
| Dubai annual inflation eases to 3.36% Annual inflation in Dubai experienced a modest decrease in February, marking a deceleration to 3.36 percent from January’s rate of 3.6 percent, according to official data. |
| Saudi Cabinet hails economic progress after non-oil activity boost Saudi ministers hailed the country’s economic progress after last week’s announcement that non-oil activity made up half of the Kingdom’s gross domestic product in 2023. |
| Saudi Arabia closes its March sukuk issuance at $1.18bn Saudi Arabia concluded its riyal-denominated sukuk issuance above the $1 billion mark for the fourth consecutive month in March, government data showed. |
| Closing Bell: TASI ends session in green, nears $3bn in trade volume Saudi Arabia’s Tadawul All Share Index wrapped up Monday’s trading session at 12,772.46 points, witnessing an increase of 10.03 points, or 0.08 percent. |
| Saudi Arabia banking sector witnessed robust growth in 2023: A&M report Top Saudi banks demonstrated strong performances in 2023, with operating income growing by 9.5 percent, driven by non-interest revenue, according to professional services firm Alvarez & Marsal. |
| Saudi Arabia’s crude production rose to 8.96 mbpd in January: JODI Saudi Arabia’s crude production increased by 12,000 barrels per day in January to 8.96 million bpd, representing a monthly rise of 0.22 percent, a study showed. |
| Saudi Arabia’s mining sector records 138% growth in exploitation licenses Saudi Arabia’s mining sector is on an impressive upswing, recording a 138 percent increase in the issuance of exploitation licenses since the implementation of the new Mining Investment Law in 2021. |
| Closing bell: Saudi main index edges up to close at 12,762 Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 39.90 points, or 0.27 percent, to close at 12,762.43. |
| Fitch affirms Kuwait’s AA- rating with stable outlook Kuwait’s foreign and local currency sovereign credit ratings have been affirmed at AA- with a stable outlook by Fitch Ratings, driven by strong fiscal and external balance sheets. |
| Saudi residential mortgage loans jump to 11-month high in January Banks in Saudi Arabia granted residential mortgage loans worth SR7.54 billion ($2 billion) to individuals in January 2024, marking an 11-month high according to the data issued by the Kingdom’s central bank. |
| Standard Chartered Bank aims to boost Saudi-China economic ties with strategic expansion Saudi Arabia offers significant growth potential for foreign banks operating in the Kingdom to meet the increasing demand from Chinese clients, according to a senior banker. |
| Oman’s general inflation index holds steady at 105.3 in February Oman’s general inflation index remained stable at 105.3 in February compared to the same period in 2023, according to the latest official data. |