Arabian Post Staff Issuance of sukuk denominated in foreign currency was up about 9% in the first half of 2023, thanks to Saudi Arabia and a few new issuers, and further issuance is anticipated this year, since some Gulf issuers are already prepared, just...

Arabian Post Staff Dubai has marked the conclusion of the Dubai Esports and Games Festival (DEF 2023) and is celebrating record visitor numbers, with more than 26,000 people visiting the five day festival. The Vox Gaming Theatre engaged gamers during the...

Arabian Post Staff United Arab Emirates is the fourth largest recipient of greenfield projects in the world, according to the 2023 United Nations World Investment Report, which has just been released. The United States remained the largest host for announ...

Arabian Post Staff IndiGo, India’s largest airline by market share, has placed a firm order for 500 A320 Family aircraft, setting the record for the biggest single purchase agreement in the history of commercial aviation. The latest agreement takes the to...

Arabian Post Staff Flynas, the Saudi air carrier and a leading low-cost airline in the Middle East, has firmed up an order with Airbus for 30 new A320neo Family aircraft, taking the airline’s total order with Airbus to 120 A320neo aircraft, including 10 A...

Arabian Post Staff The UAE has emerged as the leading wealth hub in the Middle East, according to Henley & Partners, a global leader in residence and citizenship by investment. A net inflow of approximately 4,500 millionaires is expected in the UAE in...

Arabian Post Staff Saudi Entertainment Ventures (SEVEN), a wholly owned subsidiary of the Public Investment Fund (PIF), has signed a three-year official partnership agreement with the leading football champion, Al Hilal Saudi Club. Starting from the 2023/...

Arabian Post Staff May saw a remarkable 40% increase in Dubai property sales transactions, totaling 11,621 and exceeding AED 33 billion in sales value, up 85% from May 2022 and 40% in comparison to April, according to a report by Allsopp & Allsopp. Se...

Arabian Post Staff A Free Trade Agreement (FTA) between China and GCC could be a game changer to boost the region and galvanise Middle Eastern economic transformation, according to a former Lebanese minister. Although the deal is yet to be signed, there i...

Arabian Post Staff UAE ranks three places ahead of Singapore in terms of least complex jurisdictions to set up and operate a business in the global business complexity index, published by TMF Group, a leading provider of compliance and administrative serv...

Matein Khalid My muse is the Kingdom tonight - not the kingdom of heaven but the Kingdom of Saudi Arabia. Prince Abdulaziz reinforced Saudi Arabia's role as the swing producer of OPEC+ at Vienna with a voluntary 1MBD output cut and his energy diplomacy ga...

Mahin Gupta The recent security breach of Atomic Wallet, a popular non-custodial decentralized hot wallet, has resulted in the loss of user assets exceeding $35 million. The hack targeted a range of user wallets within Atomic Wallet, affecting various cry...

Arabian Post Staff MAF Sukuk Ltd, a special purpose vehicle (SPV) issuer incorporated in the Cayman Islands, announced the successful issuance of $500 million trust certificates. The transaction was successfully completed on 1 June 2023 with Citigroup, HS...

Arabian Post Staff UAE banks are in a comfortable net external asset position and their loan to deposit ratios are among the strongest in the region, S&P said in a report on GCC banking. Banks have been accumulating local deposits over the past 15 mon...

By Saifur Rahman Investment Corporation of Dubai (ICD), an investment arm of Dubai Government whose portfolio includes Emirates Airline and Group, FlyDubai, Emirates NBD Bank, Dubai Islamic Bank, Commercial Bank of Dubai, Ithra, Dubai Duty Free and other...