JPMorgan expects more consolidation among Gulf companies this year in sectors such as banking, real estate and hospitality, but it sees no liquidity crunch in the region, despite the twin blow of the …
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First Abu Dhabi has $73.2 mln exposure to fallen agri-trader Phoenix
DUBAI, May 13 (Reuters) – First Abu Dhabi Bank FAB.AD (FAB), the United Arab Emirates’ largest lender, on Wednesday said it has $73.2 million of exposure to agri-trader Phoenix Commodities and related …
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$4.5bln credit facilities to industrial, business sectors by UAE banks in three months
ABU DHABI – UAE banks provided AED16.5 billion in loans in Q1-2020 to the industrial and business sectors, bringing to circa AED818.8 .1 bn the total credit facilities obtained by the two sectors …
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Built for a global economy, Dubai now threatened by virus
Dubai built a city of skyscrapers and artificial archipelagos on the promise of globalization, creating itself as a vital hub for the free movement of trade, people and money worldwide — all things …
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UAE businesses seek VAT waiver for a year to stimulate demand
VAT relief will stimulate demand for consumer goods in the country. This website uses cookies to improve your online experience. They were placed on your computer when you launched this website. You …
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Nirav Modi used 13 companies in UAE to round trip millions: Prosecution in UK
Indian fugitive diamantaire Nirav Modi used 13 companies in the UAE and six in Hong Kong for the purpose of round tripping money, the prosecution told a London court on the first day of the five-day …
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Abu Dhabi per capita income substantially higher than its peers: Moody’s
Moody’s estimated Abu Dhabi ran a modest budget deficit of 0.3 per cent of GDP in 2019. This website uses cookies to improve your online experience. They were placed on your computer when you launched …
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Four new ADNOC on the go fuel stations have opened in Abu Dhabi
Abu Dhabi now has four more ADNOC fuel stations. There’s nothing more frustrating that turning your engine and seeing the fuel gauge glowing orange. You meant to top up on the way home but you forgot, …
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Ramadan 2020: Abu Dhabi workers to be given meals by Ma’an scheme
The ‘Together We Are Good’ programme will provide nutritious food to workers across 35 complexes, as well as blankets, tissues and caravans to be used …
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Dubai Chamber Demonstrates UAE’s Successful E-Commerce Performance Amid The COVID-19 Crisis
The UAE’s e-commerce sector has been comparatively more successful than more than 30 other economies despite the challenges presented by the COVID-19 pandemic, according to a recent analysis conducted …
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Blockchain Bites: Will Crypto See Any of the CBDC Action?
Distributed’s Future of Fiat Workshop, central bank executives sent smoke signals regarding CBDC pilot programs. Harvesh Seegolam, of the Bank of Mauritius, the world’s youngest central bank governor, …
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UAE can face challenges in post-Covid-19 phase
Governments will focus on adopting modern agricultural technologies and utilising renewable natural resources in food production.
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Dubai ‘sells’ lights on world’s tallest building to raise money for coronavirus relief
Burj Khalifa, has become a glowing charity donation box, raising money for food for United Arab Emirates residents …
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Watch: Mother and daughter, 5, reunited in Sharjah after 60 days apart
Sharjah : A five-year-old Syrian girl was reunited with her mother at Sharjah airport when a special flight from Syria landed in UAE. The girl, named Shaam, was stuck in Syria due to COVID-19 travel …
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Telegram Gives Up On Its Blockchain, Crypto Project
TON was the next big cryptocurrency project attached to one of the biggest messaging apps in the world — Telegram — run by Pavel Durov, the expat Russian holed up somewhere between the Caribbean and …
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SCAD Releases Abu Dhabi Statistical Yearbook 2020
In 2019 non-oil activities accounted for 59.2% of Abu Dhabi’s nominal GDP and the emirate’s real GDP grew by 1.5% YoY …
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Abu Dhabi’s Mubadala sells $4 bln in three-tranche bonds
Abu Dhabi’s state fund Mubadala sold $4 billion in three-tranche bonds on Tuesday, attracting orders worth nearly six times that amount, a document from one of the banks leading the issuance showed.
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