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Press Dossier   By Date  05/05/2024
Saudi financial robo-advisory firm Abyan Capital secures $18m in funding
Financial robo-advisory firm Abyan Capital has secured $18 million in funding in further evidence of the growing confidence in the Kingdom’s artificial intelligence sector.
Islamic finance industry projected to grow in 2024-2025
The Islamic finance industry is projected to grow globally in 2024-2025 with total assets likely to witness single-digit growth driven by economic diversification efforts, a report said.
Alvarez & Marsal opens regional headquarters in Riyadh
Underscoring international confidence in the Saudi economy, global consulting firm Alvarez & Marsal has become yet another company to have opened its regional headquarters in Riyadh.
Abu Dhabi’s ADQ lists debut $2.5bn bonds on London Stock Exchange
The smallest of three Abu Dhabi sovereign wealth funds ADQ has listed a dual tranche $2.5 billion bond on the London Stock Exchange, the fund said in a statement.
GCC central banks hold interest rates steady for 6th time following Fed’s move
Gulf Cooperation Council central banks have held interest rates steady for the sixth time as the US Federal Reserve keeps its benchmark level between 5.25 percent and 5.50 percent.
UAE banks’ aggregate capital, reserves exceed $136bn
UAE-based banks’ aggregate capital and reserves reached 501.5 billion dirhams ($136 billion) at the end of February, up 14.4 percent year-on-year, according to new data.
Saudi authorities arrest 19,662 illegals in one week
Saudi authorities arrested 19,662 people in one week for breaching residency, work and border security regulations, the Saudi Press Agency reported on Saturday.
King Salman issues royal decree to appoint investigative lieutenants at Public Prosecution
King Salman issued a royal decree on Saturday to appoint 261 investigative lieutenants at the Ministry of Justice’s Public Prosecution, Saudi Press Agency reported.
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