Eid holidays, the Dubai 100, UAE petrol prices, Royal Baby named, Palm Jebel Ali investments and more top news stories this week
Banking & Finance
Dubai
Andersen Global expands Middle East footprint with Dubai’s Ideal Capital partnership
The collaboration will extend Andersen Global’s reach in the Middle East, catering to growing demand for seamless transaction advisory solutions
blockchain technology
Hong Kong’s SFC greenlights first-ever tokenised money market ETFs
Bosera and HashKey announce the world’s first tokenised money market ETFs, set to transform financial markets with blockchain technology
Dubai
Continental Group reports 26% insurance premium growth in 2024, expanding total active insurance coverage to $6.9bn
Continental Group’s role in ensuring financial stability was underscored by the processing of $7.4 million in claims in 2024
Commercial Bank of Dubai
Commercial Bank of Dubai backs Siemens Energy with AED 550mn facility to drive UAE energy projects
The facility will enable Siemens’s UAE unit to execute its expanding pipeline of projects and drive future growth
CBUAE
UAE Central Bank imposes AED2.6mn in sanctions on financial institutions
The UAE Central Bank emphasised that the sanctions align with global initiatives aimed at promoting tax system integrity and transparency, and combating tax evasion
Saudi Arabia
Bupa Arabia launches Saudi Arabia’s first ‘no-pre-approval’ health insurance model
The company also announced plans to significantly expand the ‘no-pre-approvals network’ in 2025, with the addition of 15 to 20 hospitals across various regions of the Kingdom
Abu Dhabi Commercial Bank
ADCB upgraded to ‘A+’ by S&P, among MENA’s top 3 highest-rated banks
The upgrade is driven by the ADCB’s strong financial position and high asset quality
Abu Dhabi Investment Authority
GCC royal private offices manage close to $500 billion in assets: Report
Sovereign wealth fund tracker Global SWF has identified 35 RPOs in the GCC, with the UAE home to a vast majority of these offices
M&A
Middle East M&A market resilient in 2024 as AI, renewables and infrastructure deals stand out
Middle East M&A market outperforms global average as 475 deals made and AI, renewables and infrastructure sectors impress
Al Fardan Exchange
UAE announces Eid holiday; Dubai Metro station renamed; $1m real estate saving guide; New free zone rules – 10 things you missed this week
UAE Eid holiday dates, Dubai Metro station renamed, real estate analysis, free zone rules updated and more top news stories this week
DIFC
Dubai rated as a top 5 FinTech city and climbs financial centre rankings
Dubai emerging as one of the most important financial centres in the world in respected ranking
end-of-service benefits
Lunate partners with BNY, SS&C to support UAE’s Ghaf Benefits end-of-service scheme
BNY will provide custody services for international securities across multiple markets, while SS&C will be responsible for managing the platform’s technological infrastructure
Abu Dhabi
Abu Dhabi’s ADQ to partner ECP in $25bn investment in the US energy infrastructure
The 50-50 partnership will focus on developing new power generation to serve the growing electricity needs of data and industrial centres
cross-border payments
Hubpay launches innovative payroll solution to simplify global payments for UAE businesses
Hubpay Payroll aims to streamline cross-border payroll management, offering competitive FX rates and facilitating seamless mass payments for international teams
