First Abu Dhabi Bank PJSC has kicked off the sale of a stake in its payments business Magnati, in a potential deal that could value the unit at about $1 billion, people familiar with the matter said.
Known as the HSBC Global Equity Climate Change Fund, the fund offers eligible investors exposure to renewable energy, clean transport, sustainable water management and climate change adaptation.
This benchmark examines and compares how strategy consulting firms are organizing their knowledge and research functions internally, and where they’ve chosen to locate them globally.
The Central Bank of Bahrain (CBB) yesterday issued a circular directing financial institutions to comply with the requirements for the second phase of the framework by end-June 2022. This includes guidelines and standards related to: Sharing open data (publicly available data such as ATM and branch locator); Domestic standing orders; International standing orders; International future dated payments; and Bulk/batch payments.
The Saudi British Bank (SABB) has been named “The Leading Bank in Financing Sustainable Projects in the Middle East” for the year 2021 by Global Finance as part of its annual Excellence Awards, which honor the best financial institutions worldwide.
Leading European banks are booking around €20bn (£17bn) a year – equivalent to 14% of their total profits – in tax havens, with Barclays, HSBC and NatWest Group among those enjoying the lowest tax rates, according to a new report.
Islamic fintechs are set to drive the next major disruption in the financial sector in the Middle East and other regions, as globally mobile millennial and Gen-Z Muslims are increasingly turning to the new age ventures for their financial transactions.
An open-banking platform has successfully tested a new software interface in Bahrain’s regulatory sandbox in a bid to boost the region’s financial ecosystem.
Payments moving between the UK and the European Economic Area (EEA) will be hit with a 1.29% fee, a rise from the usual 0.5% currently paid.PayPal has placed blame for the decision on rising operating costs and increased interchange fees between the UK and EEA.
The price range for the initial public offering (IPO) of Arabian Internet and Communications Services Company (solutions by STC) has been set at SAR 136 – 151 per share, according to a bourse disclosure on Sunday. The IPO includes 24 million ordinary shares, which represent 20% of the solution by STC's capital. The participating entities will be offered a minimum number of shares as 50,000, while the maximum number of shares will be 5.99 million.
Dubai-based courier Aramex has completed the transfer of shares in Information Fort (InfoFort), a records and information management provider in the Middle East, North Africa and Turkey regions, to Iron Mountain Inc.
According to a poll of over 550 global investors by Deutsche Bank, an equity correction sometime before the end of the year is “an overwhelming consensus now”, with 58% forecasting a drop of 5% to 10%. One in 10 expect a steeper tumble, while just less than third predict markets will avoid stumbling in the next few months.
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