With the UAE dirham pegged to the greenback, the weakening US dollar is leading to an increase in foreign property buyers in the Emirates, according to analysts.
UAE central bank signs MoU with Dubai Police to combat financial crimes
The Central Bank of the United Arab Emirates UAE and the Dubai Police have signed a memorandum of understanding MoU to facilitate …
Dubai transport authority invites banks to pitch for IPO of taxi business – sources
Dubai’s Roads and Transport Authority (RTA) has invited investment banks to pitch for roles in the planned initial public offering of its taxi business, two sources with knowledge of the matter told …
Private banking heats up in the Middle East
Wealth management had a tough 2022. Assets under management fell across the board, undermined by global uncertainty. But one region is not struggling. More wealth than ever is being formed in the …
Abu Dhabi Commercial Bank second-quarter profit jumps 23% amid growth momentum
Abu Dhabi Commercial Bank, the third-largest UAE lender by assets, reported an annual 23 per cent jump in its second-quarter profit as net interest and Islamic financing income surged amid continued …
Turkey’s finance chief heralds $50.7 billion deals with UAE as Erdogan tours Gulf nations
Turkish Finance Minister Mehmet Simsek says Turkey and the United Arab Emirates have signed deals worth $50.7 billion, as President Recep Tayyip Erdogan rounds off a three-country tour of the Gulf.
EDB contributed $953m to UAE’s GDP and supported creation of 12,000 jobs in 2022
Emirates Development Bank, the state-owned lender focused on financing the UAE’s priority sectors, contributed more than Dh3.5 billion ($953 million) to the country’s gross domestic product in 2022 …
Dubai records over $544mln in realty transactions Wednesday
DUBAI: Dubai real estate market recorded 577 sales transactions worth AED1.7 billion, in addition to 111 mortgage deals of AED5239.83 million, and 29 gift deals amounting to AED112.75 million on …
Fluent Finance opens Abu Dhabi office to advance trade finance
Fluent Finance said its new UAE entity will focus on deposit token infrastructure to promote cost-effective and borderless trade finance.
UAE firm to take over KPT’s cargo terminal too
ISLAMABAD: After the transfer of container terminal, the government has decided in principle to hand over the bulk and general cargo terminal at Karachi Port’s East Wharf to Abu Dhabi Ports through a …
Corporate tax in UAE: 5 key questions answered
CT will help the UAE economy to be more integrated with the Global economy. It will help improve the image of the UAE economy as it will no longer be seen as no-tax jurisdiction. At the same time, the …
UPDATE 1-Turkey’s Erdogan signs $50 billion in deals during UAE visit
UAE companies have since announced several investments in Turkey. Last month, Turkish Vice President Cevdet Yilmaz and Finance Minister Mehmet Simsek traveled to the UAE to discuss “economic …
Dubai records over AED2 bn in realty transactions Wednesday
DUBAI, 19th July, 2023 (WAM) — Dubai real estate market recorded 577 sales transactions worth AED1.7 billion, in addition to 111 mortgage deals of AED5239.83 million, and 29 gift deals amounting to …
UAE, Turkey sign deals worth $50 billion, strategic ties hit new highs between two countries
The UAE and Turkey have bolstered strategic cooperation by announcing deals worth more than $50 billion.
UAE Ministry of Finance launches Digital Public Consultation
The Ministry of Finance (MoF) today announced the launch of a digital public consultation on its website as part of the UAE Corporate Tax’s Free Zone regulations. The consultation will be open from …
UAE President and Turkish President reinforce bilateral ties
The Presidents of the UAE and Türkiye met today in Abu Dhabi to further reinforce the strong ties between the two countries.The meeting between His Highness Sheikh Mohamed bin Zayed and Recep Tayyip …
UAE and Turkey sign agreements worth over $50 billion to boost strategic partnership
The two presidents witnessed the announcement of a joint accord on the establishment of a high-level strategic council between the UAE and Turkey, further cementing ties between the two nations.