Bloomberg Steinhoff International Holdings NV said two deals with entities related to its former chairman and biggest shareholder Christo Wiese didn’t follow proper disclosure processes, dragging the South African billionaire deeper into an accounting crisis. The agreements were made in the two months leading up to the emergence of financial irregularities that have wiped more than 90 percent off the ...

Abu Dhabi / Emirates Business The current MENA fintech market is estimated at $2 billion (AED7.35 billion) and expected to witness an annual growth of $125 million (AED459 million) until 2022, according to Mena Research Partners (MRP), a leading research company in the region. Increasingly compelling business models of fintech are expected to drive the market growth further. Going forward, ...

ABU DHABI / WAM The UAE has been named the world’s largest donor of development assistance in proportion to its gross national income for the fifth year running, according to the Development Assistance Committee of the Organisation of Economic Cooperation and Development. The UAE exceeded the United Nations’ target of 0.7 percent official development assistance in proportion to its GNI ...