This comes as IMF raised the Emirates’ 2024 growth forecast earlier in May on the back of strong economic growth …
UAE bank to deduct funds from customers’ accounts that were not debited during system upgrade
Dubai Islamic Bank (DIB) has sent out an email to its customers that it will deduct money that was processed during the system upgrade earlier this year but was not debited from the customers’ …
Lulu IPO: Can investors outside UAE subscribe? Process explained
The Abu Dhabi-headquartered pan-GCC retailer will sell 25 per cent of its shares with a nominal value of Dh0.051 each …
Dubai unveils Ignyte to empower 100,000 start-ups
Dubai has launched a new digital platform to accelerate the growth of more than 100,000 start-ups and entrepreneurs, the Dubai Government Media Office announced on Tuesday. Ignyte, launched by Sheikh …
Dubai to give 100,000 startups a $100m boost with Ignyte digital platform: Sheikh Hamdan
Dubai International Financial Centre will curate more than $100m of perks for startups and entrepreneurs with the launch of a new digital platform for businesses. Sheikh Hamdan bin Mohammed bin Rashid …
UAE retailer Lulu sees ‘strong demand’ for its IPO share sale
The company will sell over 2.582 billion shares through a three-tranche IPO which will start on October 28 and close on November 5 …
Ripple’s managing director of ME Reece Merrick keen to launch RLUSD stablecoin in UAE
Speaking to Reece Merrick, Managing Director, Middle East and Africa, about the recent announcement and Ripple’s presence …
Finance House to inject AED 300mn into Abu Dhabi’s ADX for market liquidity
Finance House and Finance House Securities have signed an agreement with the Abu Dhabi Securities Exchange (ADX), aimed at boosting liquidity and market stability. Under the agreement, Finance House …
ADIB named Best SME Bank in UAE by Global Finance Awards
ABU DHABI: Abu Dhabi Islamic Bank (ADIB) announced it has been recognised as the Best Bank for Small and Medium Enterprises (SMEs) in the UAE by the 2025 Global Finance Awards. This accolade …
Dubai real estate sector logs record 18,038 transactions in September with 73% for off-plan properties; sales range from $34,000 to $75m
The Dubai real estate market recorded an all-time high of 18,038 transactions in September, with almost three quarters (73 per cent) for properties under construction having been sold off-plan, …
UAE-based retailer Lulu CEO on the firm’s IPO announcement
Saifee Rupawala, UAE supermarket Lulu CEO, speaks to CNBC’s Dan Murphy about the firm which is expected to start trading on the Abu Dhabi Securities Exchange.
Dubai insurer Takaful Emarat reduces capital by $33mln
Dubai-based Islamic insurer Takaful Emarat has reduced its share capital by more than AED 124.3 million ($33.8 million). The company activated the capital reduction on the Dubai Financial Market (DFM) …
UAE-Based PiP World Pockets US$10 Million in Seed Funding
UAE-based Web3 gaming and edtech platform PiP World has bagged US$10 million in seed funding from global fintech firm Exinity. The investment will support PiP World’s goal of improving financial …
UAE: Lulu IPO set to maintain trend of heavy oversubscription, say analysts
This could be the UAE’s largest IPO this year due to the robust growth of the retail sector, and a strong dividend policy among other factors …
UAE: Ministry of Finance holds Annual Forum on Preparation of Financial Statements
The Ministry of Finance (MoF) convened the “Annual Forum on the Preparation of Financial Statements for Federal Entities for the Fiscal Year 2024” in Dubai, as part of its commitment to enhancing …
Ajman Bank delivers all-time record high profit of Dhs313m
Sheikh Ammar Bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Board of Ajman Bank, chaired the bank’s board meeting, …
Lulu Retail kicks off one of UAE’s biggest IPOs this year
By Ahmed Tolba, Hadeel Al Sayegh and Federico Maccioni CAIRO/DUBAI (Reuters) -Lulu Retail Holdings, which runs one of the Middle East’s biggest hypermarket chains, kicked off an initial public …