It is reported that the UAE and Saudi Central Banks are preparing to test a crypto initiative that will create a new digital currency for use in cross-border payments. The Arab Monetary Fund (AMF) and Financial Stability Institute jointly organized on …
( read original story …)
UAE expat remittances hit $33bn in nine months
Expats remittances from the UAE amounted to $33 billion (AED121.1bn) during the first nine months of the year, according to a report by the UAE Central Bank. The figure represented a 2 percent growth on the corresponding period in 2016, up AED118.6 billion …
( read original story …)
WiFi UAE Continues to Extend Complimentary WiFi Service to More People in the UAE
Times Square Center and Dubai Marina Walk in Dubai, Al Hamra Mall in Ras Al Khaimah and Fujairah Hospital. The service offers users two types of Internet connection; WiFi UAE, a free WiFi service, and WiFi UAE Premium, an affordable paid service that …
( read original story …)
UAE, Saudi, Bahrain raise interest rates by 0.25%
The UAE Central Bank announced that effective from today (Dec 14), it will raise interest rates applied to the issuance of its Certificates of Deposits in line with the increase in interest rates on US Dollar, following the Federal Reserve Board’s …
( read original story …)
T10 Cricket League to be started in Sharjah today
The matches will be played by white ball instead of pink. SHARJAH (Dunya News) – After the great success of Twenty20 format, now T10 Cricket League is all set to be started at Sharjah Stadium from today (Thursday). The four-day tournament that will …
( read original story …)
That $450-million Da Vinci? You can see it at Louvre Abu Dhabi
The painting depicts “Christ as Savior of the World, facing the viewer, and dressed in flowing robes of lapis and crimson,” the Abu Dhabi Department of Culture and Tourism said in a recent news release. He holds a “crystal orb” in one hand and …
( read original story …)
UAE, UK keen to explore Islamic finance synergies
The Dubai International Financial Centre (DIFC) and the Dubai Islamic Economy Development Centre (DIEDC) received a delegation on Wednesday from the United Kingdom, led by Alderman Charles Bowman, the new Lord Mayor of the City of London, as part of a …
( read original story …)
Dubai Islamic Bank Wins Four Prestigious Accolades at Islamic Business and Finance Awards 2017
Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE, picked up four major awards at the Islamic Business and Finance Awards 2017, a prestigious industry event that endorses and recognizes those institutions and individuals that have championed …
( read original story …)
Dubai billionaire joins Spielberg in backing VR start-up
Dreamscape Immersive, which is developing virtual-reality arcades for shopping malls, said Wednesday the Series B financing included AMC Entertainment Holdings, Viacom’s Nickelodeon, Dubai billionaire Majid Al Futtaim, VRSense Solutions and Image Nation …
( read original story …)
Conference on Sustainable Building Materials to discuss construction using 3D technology
of Dubai Municipality from 13th to 14th December 2017, will discuss sustainable applications and construction using 3D technology. Khaled Sharif Al Awadhi, Assistant Director General for Environment, Health and Safety Control Sector, said that the …
( read original story …)
Call for UAE students to enter the Global Student Entrepreneur Awards
Global Student Entrepreneur Awards (GSEA) is a global competition for students who have started and are operating a business while attending college or university. UAE entrants will compete against their peers from around the world in hopes of qualifying …
( read original story …)
The challenges of finding a local UAE sponsor
When it comes to setting up in the UAE as a foreign businessperson, there are basically two options: you can start a business in a free zone or launch a mainland company. While there are opportunities in both, there is a wealth of lesser-known advantages …
( read original story …)
MIDEAST STOCKS-Corporate news weakens Dubai and Saudi, Qatar jumps after budget
DUBAI, Dec 13 (Reuters) – Corporate news pulled down stock markets in Saudi Arabia and Dubai on Wednesday, while Abu Dhabi was supported by a strong new listing and Qatar surged after the release of the government’s 2018 budget. The Dubai index dropped 1 …
( read original story …)
UAE central bank says non-oil growth to reach 3% this year
he non-oil part of the United Arab Emirates economy is expected to grow 3 per cent this year, accelerating from 2.7 per cent last year, the central bank said. “The recent improvement in oil prices has shed a positive sentiment on the economic activity in …
( read original story …)
Aldar Properties Supports Region’s Hotel Investor Summit as GIOHIS Returns to Abu Dhabi
Aldar Properties PJSC (Aldar), Abu Dhabi’s leading listed property development, investment and management company, will once again support the Gulf and Indian Ocean Hotel Investors’ Summit (GIOHIS) as Founding Patron when it returns to Abu Dhabi for …
( read original story …)
UAE, Saudi working on digital currency for cross-border deals
On Wednesday, however, Mansouri said the central banks wanted to understand blockchain technology better. He told reporters that the UAE-Saudi digital currency would be used among banks, not by individual consumers, and would make transactions more efficient.
( read original story …)
UAE oil giant looks to build regional ‘credibility’ with IPO
Carey also told reporters the group would look to expand its fuel stations into Dubai and Saudi Arabia next year … shortly after the bell versus an IPO price of 2.50 dirhams per share. ADNOC’s fuel-distribution IPO is set to become the first of many …
( read original story …)