Like Abu Dhabi, Dubai’s financial free-zone managed to draw in the hedge fund crowd through incentives including reduced licensing fees. Chairman and chief executive officer Izzy Englander’s …
Trial of British hedge fund trader accused of £1.4bn fraud begins
Mr Shah, the founder of London-based hedge fund Solo Capital Partners, denies any wrongdoing. He has been held in custody in Denmark since being extradited to the country following his arrest in Dubai …
Dubai: Will customers pay more after 20% new tax on foreign banks?
Some argue that foreign banks might increase fees in response to the tax, passing the additional cost to customers. On the other hand, there are suggestions that some banks may choose to absorb the …
Sheikh Hamdan launches Dubai’s new logo, allocates Dhs40b for ‘Dubai Portfolio for Public-Private Partnership’
The Executive Council of Dubai approved Dhs 40 billion for the ‘Dubai Portfolio for Public-Private Partnership’. Overseen by the Department of Finance through the Dubai Digital Platforms, the …
Dubai: Developers Compete To Buy Land Plots As Prices Soar
Competition is growing among Dubai developers to buy more plots amidst fast-reducing land banks. Development in some of the most prime are …
UAE banking sector poised for continued growth in 2024
The UAE banking sector continued its growth momentum last year and is poised for further growth and recovery in 2024, thanks to the success of the Central Bank of the UAE’s (CBUAE) strategies and …
Parkin completes record-breaking IPO, raising AED1.6 billion with offering 165 times oversubscribed
Parkin Company today announced that it has set the final offer price for its Initial Public Offering (IPO) at AED2.10 per share.This will result in approximately AED1,574.37 million (c. US$428.69 …
Abu Dhabi Speeds Up Country Club Admissions to Lure Hedge Funds
Abu Dhabi officials are quietly orchestrating a fresh package of perks they hope will help propel the city up the ranks of the world’s biggest financial centers, from helping traders obtain coveted …
Surge in HNWI funds after FATF exit to drive UAE realty
The UAE’s removal from the Financial Action Task Force grey list is an important milestone and its overarching impact would soon be felt across all economic sectors, including real estate, say …
How to Open a Business Bank Account in Dubai UAE: Step-by-Step Guide
Learn the detailed process of opening a business bank account in Dubai UAE, including required documentation, timeline, minimum balance, and advantages. Start your journey to financial control and …
Emirates SkyCargo banking on Hong Kong e-commerce boom to increase freight flights, with plans to expand global fleet
Dubai-based Emirates airline’s cargo unit is adding more flights to Hong Kong and mainland China and has major plans for expansion globally. Jeffrey Van Haeften, Emirates SkyCargo senior …
Dubai’s DIFC launches ‘groundbreaking’ Digital Assets Law to enhance legal certainty, boost investor confidence
The new DIFC law, which went into effect on March 8, defines the legal characteristics of digital assets as a form of property, outlining how they can be controlled, transferred, and dealt with by int …
UAE: Dewa pledges Dh20 million to Mothers’ Endowment campaign
Just four days after Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, launched the Mothers’ Endowment ca..
Here’s why the GCC IPO bonanza is here to stay
The GCC is set to see more equity capital markets activity in 2024 as more companies are considering going public amid a global slowdown.
Ministry Of Finance Publishes Preliminary Results Of UAE Government Finance Statistics For Q4 2023
Government revenues reach AED155.9 billion, whereas expenditures amount to AED131.3 billion
UAE Food Bank launches move to distribute 5m meals in Ramadan
The initiative is held under the directives and supervision of Her Highness Sheikha Hind Bint Maktoum Bin Juma Al Maktoum, Chairperson of the UAE Food Bank.
Dubai’s DIFC passes comprehensive digital asset law, new security law
The Dubai International Financial Centre (DIFC), a special economic zone with over 5,000 residents, has announced the passage of a new digital assets law and security law and amendments to existing …