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Hinduja-backed group set to take over Reliance Capital for $1.17bnIndusInd International Holdings Limited (IIHL), a company backed by Indian business congomerate Hinduja Group, has cleared the last hurdle for the $1.17 billion acquisition of Anil Ambani’s Reliance Capital (RCAP) with Department for Promotion of Industry and Internal Trade (DPIIT) givi More… |
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DIFC amends Application Law and Real Property LegislationDubai International Financial Centre (DIFC) has enacted amendments to DIFC Law on the Application of Civil and Commercial Laws in DIFC (Application Law). The amendments provide statutory certainty to the source of DIFC Law and how it may be interpreted.& More… |
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Mastercard ties up with Fundbot to accelerate paymentsMastercard and Fundbot, a UAE-based fintech firm specialising in supply chain financing, have announced a collaboration to accelerate business-to-business (B2B) payment flows across all industries. The two companies will launch a streamlined payments platform that seamlessly links buyers and More… |
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Nvidia beats expectations again, reports 94pc revenue growthNvidia, a key player in the AI-driven revolution, has once again surpassed expectations, delivering a staggering 94% revenue growth for the quarter and exceeding consensus by nearly $2 billion. Profit for the quarter reached $19.3 billion—a strikin More… |
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Deloitte extends Anaplan alliance to GCC marketsDeloitte has announced the rollover of its Anaplan offerings to the GCC market. The Deloitte collaboration with the pioneering cloud-based scenario planning and analysis software provider will present solutions that help streamline business planning in t More… |
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Royal Group launches Comera PayComera Financial Holding, from the Royal Group of companies in Abu Dhabi, has launched Comera Pay, an all-inclusive suite of digital payment services in the UAE. Comera Pay brings effortless payment solutions to individuals and businesses through a singl More… |
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Lulu Retail Q3 net soars 126pc; 9M net surges 73.3pcLulu Retail, the largest and fastest growing pan GCC full line retailer, has seen its net profit from continuing operations soar 126% to $35.1 million driven by improved operating profit and better cost management. For the nine-month (9M) period, net profit from continuing operations improved More… |
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Kuwait’s banking sector posts ‘solid credit growth’ in OctoberKuwait’s banking sector experienced solid credit growth in October driven by household credit, said National Bank of Kuwait’s Economic Research Department. Domestic credit increased by a solid 0.4% in October, driving up YTD growth to 2.9% (3 More… |
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7X enhances financial security with Etihad Credit Bureau collaboration7X, a trade, transport, and logistics investment group, has signed a memorandum of understanding (MoU) with Etihad Credit Bureau. The partnership grants 7X access to the bureau’s advanced credit data platform to evaluate the financial stability of its business partners. The agree More… |
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Kuwaiti bank NIC announces 3.2pc stake sale in Kuwait bourseThe National Investment Company, Kuwait’s market leading investment bank, has this morning announced the successful sale of a 3.2% stake in Boursa Kuwait, the national stock exchange operator, to leading international and regional institutional investors for $43 million. &n More… |
