Abu Dhabi / WAM Emirates Development Bank (EDB) on Sunday announced that it has signed an agreement with Beehive, the UAE’s first Peer-to-Peer (P2P) platform, to expand funding options for the small and medium-sized enterprises (SMEs). The announcement follows EDB’s strategic pledge to support SMEs, startups and large corporates across five priority sectors including manufacturing, healthcare, infrastructure, food security and ...

Dubai / WAM The interest rates charged by the Emirates Inter-Bank Offered Rate (EIBOR) jumped across all terms post the Central Bank of the UAE increased on Thursday its base rate applicable to the overnight deposit facility (ODF) by 5 basis points to 15 bps, replicating the US Federal Reserve’s move on Wednesday, according to the CBUAE’s figures. The one-year ...

Bloomberg Saudi Arabia gave a first glimpse of the ambition behind the merger of two of its pension and insurance funds with a plan to rival the world’s largest investors of its kind. The new entity will boast assets of over $250 billion, according to the chief executive officer of Hassana Investment Co, the investment management arm of the kingdom’s ...