Dubai’s benchmark stock index extended its gain to a second straight session, rising 0.6% to 5,093, its highest in 10 years and three months. Emirates NBD, Dubai’s largest lender, rose 0.8 and Gulf …
Lulu Retail strengthens footprint in the UAE with opening of new Yas Acres Express Store on Yas Island, Abu Dhabi
The new store provides an extensive range of high-quality products and services, making it the go-to destination for quick and efficient grocery runs …
SA woman stuck in Dubai gets over R114,000 in donations to pay off loan after bank offers a discount
A South African woman stuck in the United Arab Emirates (UAE) due to an unpaid loan, has reached her target and managed to raise over R114,000 to pay off her loan.Initially, Bongile Ntombela said she …
UAE-based Allo.xyz secures $100 million Bitcoin-backed credit facility for its RWA platform
UAE-based Allo.xyz, a platform for real-world asset (RWA) tokenization and lending, has secured a $100 million Bitcoin-backed credit facility. The project was also recently accepted into Qatar’s …
UAE Ministry of Finance makes major amendments to Ministerial Decisions
Announcements relate to Tax Groups and Participation and Foreign Permanent Establishment Exemptions and aim to enhance compliance …
UAE corporate tax: FTA urges businesses to register before December 31 deadline to avoid penalties
The FTA noted that Cabinet Decision No. 75 of 2023 imposes Administrative Penalties on Taxable Persons who fail to register within the specified timelines …
The Board of Directors of the UAE Banks Federation confirms sector’s strength & ability to continue growing in 2025
The Board of Directors of the UAE Banks Federation (the sole representative and unified voice of UAE banks) held its last regular meeting for 2024 under the chairmanship of His Excellency Abdul Aziz …
UAE Central Bank keeps 2024 GDP growth forecast at 4%
The Central Bank of the UAE (CBUAE) maintained its real GDP growth projections for 2024 at 4.0 per cent, accelerating to 4.5 and 5.5 per cent in 2025 and 2026, respectively.
UAE Central Bank maintains GDP growth projections for 2024 at 4%
ABU DHABI – The Central Bank of the United Arab Emirates (CBUAE) maintained its real GDP growth projections for 2024 at 4.0 percent, accelerating to 4.5 and 5.5 percent in 2025 and 2026, respectively.
Islamic finance in UAE: Rapid growth, leadership in sustainability
The UAE is committed to developing economic policies and legislation to enhance Islamic finance and the broader Islamic economy …
Dubai real estate set for strategic growth through 2025, say experts
said Dubai has firmly established itself as a global hub for finance, and the rapid growth of family offices in the region is a testament to this evolution, aiding the expansion and growth of the real …
UAE, Saudi banks push for enhanced employee experience in GCC: Report
The report highlighted the direct impact on profitability through prioritising employee experience on engagement, retention, and innovation …
Payments platform Whizmo seeks to redefine financial inclusivity in the UAE
Whizpay Technology was founded with the aim of addressing a persistent issue in the UAE: the reliance on cash in an increasingly digital world.This challenge was personal to the company’s founders, …
Hedge funds from East join Western peers in booming Mideast hubs
Abu Dhabi has already drawn the likes of Brevan Howard Asset Management and Marshall Wace as it established itself as a burgeoning hub for hedge funds. Now, a new group of heavyweights are looking to …
Dubai Property Marked ‘Under Cancellation’ After 19 Yrs
A real-estate project in Dubai Investment Park (DIP) was recently marked ‘under cancellation’ after 19 years of its launch, shocking Dubai residents who had invested in the project.Read More: Dubai’s …
2024 in review: The UAE crypto legal chronicles
As crypto assets continue steadily into mainstream finance, policymakers worldwide are stepping up with comprehensive rules. From the United States president-elect pledging a strategic Bitcoin (BTC) …
UAE raises up to $3bn a year through indirect taxes
The UAE generates between AED10bn and AED11bn ($2.72bn and $3bn) annually through indirect taxes, according to Younis Haji Al Khoori, Undersecretary of the Ministry of Finance. It represents a …