The UAE’s Ministry of Finance has recently introduced a modification to the tax laws, allowing specific firms to waive the mandatory Corporate Tax fee. As per the latest decision announced by the UAE …
Two banks team up to launch credit guarantee scheme for UAE-based SMEs
Under the partnership agreement, Emirates Development Bank will guarantee 50% of the finance facility extended to eligible SMEs by the listed lender, which is the 11th commercial bank to join EDB’s sc …
Time to buy? Gold prices drop further in Dubai
Gold prices edged lower in Dubai and globally on Monday morning for a second consecutive session, as investor focus shifted to central bank meetings for clarity on their rate-hike strategies that may …
UAE to offer corporate tax relief to ‘public benefit’ entities
The UAE said entities that qualify for the exemption include entities that focus on activities such as philanthropy and community services …
UAE conventional bank assets hit $830bn
UAE Central Bank announces annual growth in financial sector UAE conventional bank assets hit $830bn CBUAE, Central Bank of the UAE, UAE, UAE banking sector Banking & Finance …
Dubai’s real estate sector records transactions worth Dhs157b in Q1
Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai and Deputy Prime Minister and Minister of Finance of the UAE, …
UAE trade deal gauged by finance policy officials
The Cambodia-United Arab Emirates Comprehensive Economic Partnership Agreement (CAM-UAE CEPA) – largely expected to be signed later this year – will provide a major impetus for the Kingdom’s export …
Emirates Development Bank, Emirates Islamic partner to support SMEs
EDB has signed credit guarantee scheme agreements with 11 UAE lenders including Abu Dhabi Commercial Bank and First Abu Dhabi Bank …
Dubai International Financial Centre, Mastercard partner to drive digital transformation in UAE
The collaboration would provide fintech startups and established companies access to Mastercard’s network and expertise and DIFC’s financial ecosystem.
UAE property developer DAMAC sells $400 mln Islamic bond
Dubai-based real estate developer DAMAC on Tuesday sold a three-year $400 million Islamic bond, or sukuk, amid a strong rebound in the emirate’s real estate sector.
UAE and South Africa look to boost trade and investment opportunities
The UAE and South Africa held high level meetings on Wednesday to enhance bilateral trade and investment opportunities. The two sides also explored avenues to promote development in key sectors such …
Dubai Islamic Bank posts 12% surge in quarterly profit on higher revenue
Dubai Islamic Bank’s balance sheet expanded by 1.3 per cent YTD to Dhs292bn while customer deposits settled at Dhs198bn …
This International Bank Appointed the First Emirati Woman CEO
Citibank, N.A. UAE Onshore Branch in the United Arab Emirates announced the appointment of Shamsa Al-Falasi as Chief Executive Officer. Shamsa will also take on the responsibilities of Chief Administr …
How soon will UAE’s private businesses sign up for an IPO?
Laws of the land and investors are ready for more listing actions from its private sector First quarter IPO action has been solid, but the UAE capital markets could still do with more private …
UAE: Number of Emiratis working in private sector grows by 11% in first three months of 2023
The ‘remarkable’ growth was hailed by MoHRE, who predict that the trend is expected to continue for the rest of the year …
Dubai waives Dh146m in housing loan repayments for low-income citizens
Dubai will waive Dh146 million in outstanding housing loan repayments for 426 low-income citizens. Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, said the gesture was made in an effort to boost …
Dubai Islamic Bank’s profit jumps 11% on strong fee income
Dubai Islamic Bank, the UAE’s biggest Sharia-compliant lender by assets, reported an 11 per cent increase in its first-quarter profit on higher fee income. Net profit attributable to owners of the …