The UAE Central Bank has imposed financial sanctions on six banks in the country for not fully complying with the country’s reporting procedures. The directives, in line with the Organisation for …
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UAE Central Bank announces more sanctions
The Emirates is seeking to improve its record on financial transparency after being implicated in money laundering and sanctions evasion controversies.
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UAE, other GCC central banks follow Fed move to hike interest rates by 0.75%
CBUAE maintained interest rate applicable to borrowing short-term liquidity from the regulator through all standing credit facilities at 50bps above the base rate …
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UAE bank ADCB quarterly net profit up 12%
Abu Dhabi Commercial Bank (ADCB) , the UAE’s third-biggest lender, reported on Thursday a 12% rise in second-quarter net profit, supported by rising rates and higher non-interest income.
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Time to remit? Pakistani rupee at an all-time low against US dollar, UAE dirham – but not for long
Pakistan currency hovers at 236 against the US dollar, at 64.3 against the UAE dirham Dubai: If UAE expats were looking to remit more Pakistani rupees back home, the time is ideal as the current …
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UAE Central Bank imposes financial sanctions on 6 banks
The Central Bank of the UAE (CBUAE) on Thursday said it imposed financial sanctions on six banks operating in the UAE for failures to achieve appropriate levels of compliance regarding required due …
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UAE central bank sanctions six banks for non-compliance on tax evasion-related requirement
The provision refers to banks implementing the Common Reporting Standard (CRS), which is a reporting requirement to help fight against tax evasion. UAE central bank sanctions six banks for …
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Central Bank of UAE imposes sanctions on six banks for compliance failure
Sammy Dallal The Central Bank of the UAE rolled out a number of initiatives to regulate the country’s financial sector in recent months. Sammy Dallal / The National . The Cen …
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ADNOC joint venture Borouge hits $3.46b in H1-22 revenues – and shareholders eye $975m in dividends
Dubai: Abu Dhabi’s ADNOC JV Borouge has seen first-half 2022 revenues hit $3.46 billion from a 16.4 per cent increase, helped by steadily improving prices for petrochemical products. In fact, Borouge …
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UAE Salary Guide for Year 2022
Businesses in the UAE are stepping up their hiring efforts to replace talent lost during the pandemic.According to the recruitment firm Robert Half’s 2022 Salary Guide, firms in the UAE to reconsider …
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UAE central bank hikes base rates by 0.75%
CBUAE maintained interest rate applicable to borrowing short-term liquidity from the regulator through all standing credit facilities at 50bps above the base rate …
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Central Bank of UAE raises interest rate after Fed’s aggressive rise
The Fed on Wednesday increased the policy rate by 75 basis points (bps) after a larger-than-expected three-quarters percentage point in June. This is the Fed’s fourth interest rate increase in four …
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Central Bank of UAE raises interest rate after Fed’s bazooka rate rise
The Fed on Wednesday increased the policy rate by 75 basis points (bps) after a larger-than-expected three-quarters percentage point in June. This is the Fed’s fourth interest rate increase in four …
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Mohammed swears in 4 new Dubai International Financial Centre Courts judges
Speaking on the occasion, Sheikh Mohammed highlighted the importance of constantly enhancing the DIFC’s judicial framework in order to further raise the confidence of the local and global business …
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UK High Court wades into Dubai trade finance fraud case
The UK High Court has sided with the Dubai Islamic Bank in the latest episode of a long-running trade finance fraud saga, ruling against a British man who had been seeking an immediate release from …
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Govt to Sell its Stakes in 5 Energy Companies to UAE for $2 Billion
The Federal Cabinet has approved selling its stakes in five energy companies to UAE for $2 billion on a government-to-government (G2G) basis, sources told …
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Dubai Islamic Bank’s first-half profit surges to over $735mln
Dubai Islamic Bank announced on Wednesday a significant surge of 45 per cent to Dh2.7 billion in first-half profitability compared to Dh1.86 billion in the same period last year. The strong …
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