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Press Dossier   By Date  21/03/2024
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.
IMF set to open regional HQ in Riyadh after Saudi Cabinet approval
The path is now clear for the International Monetary Fund to establish its regional headquarters in Riyadh, following the final approval from the Saudi Cabinet.
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.
Saudi Arabia’s Jeddah Islamic Port to get $46m integrated logistics zone
Jeddah will soon get an integrated logistics zone, as the Saudi Ports Authority and MEDLOG have signed an agreement for the project.
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.
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