by Jibran Munaf | July 12, 2024 | Banking, Central Banks, News
The UAE’s banking sector continues to show robust growth, with gross bank assets, including bankers’ acceptances, rising by 1.0 percent to AED 4,296.5 billion ($1.17 trillion) at the end of April 2024, up from AED 4,254.5 billion at the end of March 2024,...
by Vasu Jit Kalia | July 12, 2024 | Central Banks
The balance sheet of the Central Bank of the UAE (CBUAE) hit a record AED789.82 billion by the end of April 2024, for the first time of its history, a YoY growth of 25 percent from approximately AED631.63 billion in April 2023, as per a CBUAE report released today. On...
by Jibran Munaf | July 8, 2024 | Banking, Banking Regulations, Central Banks
The bond trade that some of Wall Street’s biggest banks say will dominate the rest of 2024 is gaining steam before a crucial inflation reading that will help seal the wager’s fate. The bet — that the US yield curve will normalize toward a steeper slope — is suddenly...
by Jibran Munaf | July 2, 2024 | Investment Banking, News
Saudi Arabia’s Public Investment Fund (PIF) announced a significant financial turnaround, reporting a profit of 138.1 billion riyals ($36.81 billion) for 2023, following a loss of $15.6 billion the previous year. Total revenues for the PIF more than doubled,...
by Jibran Munaf | July 1, 2024 | Mergers & Acquisitions, News
BlackRock, the world’s largest asset management company, has announced an agreement to acquire UK-based data firm Preqin for 2.55 billion pounds ($3.23 billion) in cash. This strategic move aims to bolster BlackRock’s presence in the private markets data...
by Jibran Munaf | June 27, 2024 | Mergers & Acquisitions, News
France’s Saint-Gobain has entered into an agreement to buy Dubai-based construction chemicals company FOSROC for around 960 million euros ($1.03 billion) to drive its international expansion, the company announced on Thursday. The transaction, which will be...
