Bank of Baroda has reached a $600 million settlement pertaining to the high-profile case involving NMC Health, a major player in the UAE healthcare sector that faced a significant collapse. The agreement concludes a protracted legal dispute that has captivated stakeholders in the region, reflecting the bank’s strategic decision to mitigate further risks and potential...
In the second quarter of 2023, Saudi Arabia solidified its position as the busiest market for projects in the Gulf region, witnessing a remarkable surge in contract awards totaling $30 billion. This figure represents an extraordinary quarterly increase of 160.4%, underscoring the Kingdom’s aggressive economic initiatives and commitment to infrastructure development. The sharp rise in...
Keyper, a digital platform aimed at revolutionizing rental payments and real estate services in the UAE, has successfully raised $11 million in a Series A funding round. This financing was led by prominent investors including Speedinvest, Mashreq’s NeoVentures, MEVP, the Dubai Future District Fund, Property Finder, and several other notable entities in the region. The...
The global green hydrogen market is expected to show remarkable growth, with projections estimating the market will be worth approximately USD 188.9 billion by 2035. This growth trajectory represents a compound annual growth rate (CAGR) of 31.2% between 2026 and 2035, highlighting the increasing demand for sustainable energy solutions. According to a recent report by...
As the repercussions of the ongoing conflict involving Iran continue to permeate through the Gulf region, companies in several countries such as Saudi Arabia, Oman, the United Arab Emirates, and Qatar are preparing to report their financial results. Analysts predict a mixed bag of outcomes as businesses grapple with a multitude of challenges stemming from...
As the second quarter draws to a close, corporate earnings reports from Gulf nations are anticipated to highlight the varied impacts of the ongoing conflict with Iran. Analysts expect that this turbulent geopolitical landscape will manifest in significant discrepancies across different sectors. Notably, financial institutions and real estate businesses are likely to experience pressure, while...
The global green hydrogen market is projected to witness significant growth, with estimates indicating it could reach approximately USD 188.9 billion by the year 2035. This growth represents an impressive compound annual growth rate (CAGR) of 31.2% from 2026 to 2035, according to a recent report by Custom Market Insights. The market was valued at...
The United Arab Emirates has achieved a remarkable milestone by attracting a historical $48.3 billion in foreign direct investment (FDI) in the past year. This figure represents the fourth consecutive year of growth in FDI flows, further solidifying the UAE’s status as a leading investment hub. According to the latest UNCTAD World Investment Report, the...
A recent collaboration between Safeheron and UPay.com has set the stage for the potential use of stablecoins in real estate transactions in the UAE, specifically for paying rents. The partnership was formalized in Abu Dhabi and signals a notable shift towards integrating cryptocurrency into everyday financial practices. According to industry executives, the framework for this...
Gulf companies are preparing to disclose the stark and uneven effects of the ongoing conflict with Iran, shedding light on how the situation has altered their operational landscapes and financial standings. With tensions in the region escalating, businesses from the UAE and neighboring countries are grappling with increased volatility, which is prompting them to reevaluate...