AGP Executive Report
Last update: 9 hours agoBanking: Abu Dhabi Islamic Bank added 200,000 customers and secured an open-finance licence as nine-month profit reached AED6.4 billion. Ajman Bank reported a 12% rise in nine-month revenue to Dh1.35 billion, alongside improved asset quality. Investment: Scatec and investment banks closed US$650 million in financing for an Egyptian solar-and-storage project. Egypt is also working with the World Bank on a strategy to steer foreign investment into priority sectors, while Kuwait expects US$16 billion in investment inflows this year. Technology Deals: Intel agreed to acquire Israeli quantum-computing firm Classiq for a reported US$2.3 billion, and Snowflake plans to invest US$300 million in Saudi Arabia to expand its AI operations. Markets: Oil prices retreated as diplomacy with Iran eased supply concerns, but renewed attacks and shipping risks continue to cloud the outlook.
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