Finance

Saudi ACWA Power expands portfolio with $693m acquisitions in Bahrain, Kuwait

the financial - 21 February, 2025

RIYADH: Saudi utility giant ACWA Power has strengthened its portfolio by acquiring a $693 million stake in power generation and water desalination companies in...

India may hike GST on cigarettes, tobacco products after compensation cess ends: Report

the financial - 21 February, 2025

Currently, cigarettes and tobacco products attract a 28 percent GST, in addition to a compensation cess and other levies, taking the total indirect tax...

HP Telecom India, Swasth Foodtech IPOs open for subscription today

the financial - 21 February, 2025

On February 28, HP Telecom India will make its debut on the NSE Emerge, while the trading in Swasth Foodtech shares will commence on...

Finance

Dubai equity benchmark set to rise 20% this year

the financial - 9 December, 2024

This year is turning out to be yet another magnificent one for Dubai stocks. The DFM index, which rallied by 22 per cent in...

Banking

Alif Capital strikes deal to acquire 25% stake in UAE-based lifestyle products supplier Sunex Group

the financial - 8 December, 2024

The stake acquisition marks Aliph’s entry into the lifestyle sector Alif Capital, the first female-founded private equity fund in the Middle East, announced the acquisition...

Finance

Saudi Arabia approves FY2025 budget, forecasts $27bn deficit amid expansionary spending

the financial - 27 November, 2024

RIYADH: Saudi Arabia on Tuesday approved the state budget for fiscal year 2025 with revenues projected at SR1.18 trillion ($315.73 billion) and expenditure at...

Finance

Dubai regulator imposes $2.5mn in fines in financial services crackdown

the financial - 27 November, 2024

The DFSA finalised eight enforcement actions and issued 24 alerts in 2024 Dubai’s financial regulator has imposed fines totalling more than $2.5 million this year...

Finance

2024 U.S. election and its impact on financial markets, UAE, and the Middle East

the financial - 1 November, 2024

As November 5, approaches, the world is watching the U.S. Presidential election closely. This fiercely contested race between Former President Donald Trump and Vice...

Finance

Saudi B2B Fintech Mala Secures $7 Million Seed Funding

the financial - 28 October, 2024

Mala, a Saudi-based B2B platform, has successfully closed a $7 million (26.25 million Saudi Riyals) pre-seed funding round. The investment was led by VentureSouq, with...

Finance

IMF predicts slightly slower global growth in 2024 and 2025

the financial - 25 October, 2024

Global growth is expected to ease slightly to 3.2 percent this year and remain at that level in 2025, the IMF announced Tuesday, while...

Finance

TASI records lowest volume of trading in a month, falling to 11,883 points

the financial - 21 October, 2024

RIYADH — Tadawul All Share Index (TASI), the Saudi main stock index, ended the first session of the week on Sunday down 24.5 points (0.2...

Finance

Volume of investments accounts for SR18 billion in KAEC

the financial - 21 October, 2024

JEDDAH — Makkah Deputy Emir Prince Saud bin Mishaal received Fahad Al-Saif, chairman of Emaar, The Economic City, the main developer of King Abdullah Economic...