Riyad Bank is powering through 2025 with profits on the rise and balance sheets swelling. The Saudi lender posted a 9.98% year-on-year increase in net earnings, reaching SAR 7.77 billion ($2.07 billion) in the first nine months of the year, up from SAR 7.06 billion a year earlier. Earnings per share nudged higher to SAR …
Riyad Bank Rides Growth Wave, Nine-Month Profits Cross $2 Billion Mark Read More »
In a move set to redefine the UAE’s mobility landscape, Multiply Group’s subsidiary, Emirates Driving Company (EDC), has completed the acquisition of a 22.5% stake in Mwasalat Holding — with an open road ahead to raise that share to a commanding 50.6%. The deal isn’t just a financial play; it’s a deliberate pivot toward shaping …
The International Monetary Fund painted an unexpectedly upbeat picture for the Middle East, North Africa, and Pakistan, projecting that regional economies will expand by 3.2% in 2025 and accelerate further to 3.7% in 2026 — a marked rise from last year’s 2.1% pace. Oil exporters, buoyed by increased production after the rollback of OPEC+ cuts, …
MENA and Pakistan Economies Defy Headwinds, Poised for 3.2% Growth in 2025: IMF Outlook Read More »
Dubai-based Islamic insurer Salama is taking bold steps to reset its financial footing. The Takaful provider, listed on the Dubai Financial Market, plans to raise up to 175 million dirhams ($48 million) through a Mandatory Convertible Sukuk issuance, following a shareholder-approved capital reduction. The restructuring aims to clear accumulated losses and cancel treasury shares, reinforcing …
Salama Charts a New Course with $48 Million Convertible Sukuk After Capital Shake-Up Read More »
Abu Dhabi’s sovereign-backed investment arm, Mamoura Diversified Global Holding (MDGH), has successfully priced a AED 1 billion ($272 million) five-year Reg S bond, offering investors a 4.20% coupon. The final pricing came in tighter than initial guidance of 4.45%, reflecting strong market interest. Investor demand was robust, with orderbooks exceeding AED 4.7 billion, even before …
Abu Dhabi’s Mamoura Secures AED 1 Billion Bond Amid Surging Investor Appetite Read More »
A federal judge has thrown out a defamation lawsuit filed by two IRS agents against veteran Washington attorney Abbe Lowell, reinforcing the protections afforded to lawyers advocating for their clients. The case, initiated last year by IRS agents Gary Shapley and Joseph Ziegler, claimed Lowell defamed them in letters to Congress and media outlets regarding …
DC Legal Heavyweight Wins Dismissal in High-Profile IRS Defamation Case Read More »
Tesla’s record-shattering $1 trillion pay proposal for CEO Elon Musk is hitting turbulence as influential proxy adviser ISS has urged shareholders to vote it down, calling it an “extraordinarily high” package that could limit the board’s flexibility for years to come. This marks the second consecutive year ISS has recommended against Musk’s compensation plan. Its …
Tesla’s $1 Trillion Pay Plan for Musk Faces Investor Backlash Read More »
CHICAGO — Federal immigration officers enforcing the Trump administration’s crackdown in Chicago are now required to wear body cameras, following a ruling by U.S. District Judge Sara Ellis. The judge cited concerns that officers were failing to follow a previous court order meant to regulate their interactions with protesters. Under Ellis’s order, officers equipped with …
Chicago Judge Mandates Body Cameras for Federal Immigration Agents Amid Protests Read More »
The gears of the U.S. federal judiciary are grinding to a slow halt. Starting Monday, courts across the country will begin furloughing staff and scaling back non-essential functions after their emergency reserves ran dry amid the ongoing government shutdown. For the first time in nearly three decades, thousands of judicial employees may be sent home …
Federal Courts Brace for Pay Freeze as Shutdown Drains Funds Read More »
In a move that reignited debate over presidential clemency, Donald Trump has commuted the prison sentence of former U.S. Representative George Santos — the scandal-scarred lawmaker whose brief political career was defined by deception and downfall. Santos, once a rising Republican from New York, had been serving an 87-month sentence for fraud and identity theft …
Trump Frees George Santos, Calling His Seven-Year Sentence “Unfair” Read More »
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