Arabian Drilling Company, a Saudi oilfield services firm, said on Tuesday it will price its initial public offering at 100 riyals a share and is set to raise 2.67 billion riyals ($710.58 million).
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Dubai digital bank Zand’s CEO steps down to pursue new interests
CTO Mark James Chittenden will be the interim CEO until a new appointment is made by the board, the bank said. Zand’s Chairman Mohamed Alabbar, said: “On behalf of the board, we thank Olivier for his …
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Dubai records over $408mln in realty transactions on Tuesday
DUBAI – Dubai real estate market recorded 469 sales transactions worth AED1.29 billion, in addition to 77 mortgage deals of AED190.01 million, and 8 gifts deals amounting to AED26.82 million on …
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Burjeel shares up15.5% after AED1.1 billion IPO
Burjeel Holdings PLC’S shares hiked 15.5 percent, hitting AED2.310 from AED2.00 on their maiden day of trading today.The company’s Initial public offering (IPO), which raised gross proceeds of more …
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UAE digital bank Zand’s Olivier Crespin steps down as CEO
Zand, the UAE’s first digital bank that caters to retail and corporate clients, on Tuesday said its chief executive Olivier Crespin has stepped down from the position to pursue other interests. Mr …
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UAE Cabinet approves 2023-2026 federal budget with total expenditure of $68.69bn
Our goal is to ensure that the federal government operates with the highest standards of financial efficiency,” he said. The UAE economy made a strong rebound from the coronavirus pandemic-induced …
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UAE Banks Federation discusses strategies, plans for Emiratisation in the banking and finance sector
The CEOs Consultative Council of the UAE Banks Federation (UBF), in its meeting held on Monday, discussed the strategies and plans for Emiratisation in the banking and finance sector in the country.
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Dubai records over $436mln in realty transactions Monday
DUBAI: Dubai real estate market recorded 445 sales transactions worth AED1.18 billion, in addition to 68 mortgage deals of AED445.38 million, and 37 gifts deals amounting to AED61.34 million on Monday …
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Dubai Investment Fund Expands Presence, Activities To New countries
We recently learned that the Dubai Investment Fund (DIF), has expanded its operations to New Zealand, the Czech Republic and Cyprus. The company will expand its presence in these countries by …
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UAE approves Federal General Budget 2023-2026 with total estimated expenditures of AED 252.3bln
The Federal Budget is an essential pillar in the UAE’s development process, and the directives of our wise leadership help us achieve our development and social requirements for the coming years …
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UAE president to meet Putin in Russia, a week after OPEC+’s deep output cuts
The president of the United Arab Emirates, Sheikh Mohamed bin Zayed al-Nahyan, will head to Russia on Tuesday to meet his counterpart Vladimir Putin.
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UAE cabinet approves federal budget for 2023-2026
The UAE issued $4 billion in debut federal bonds in October last year, not long after Sheikh Maktoum bin Mohammed bin Rashid, son of the prime minister, took over the finance ministry portfolio. Just …
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Surplus budget to propel UAE growth, social sector development
The UAE surplus budget will propel economic growth and gives more room to the government to spend more on social sector development, experts say.Analysts, economists and industry experts said Dh3.4 …
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UAE banking is turning digital, and Dubai’s GII wants to have a big say in it
GII’s will convert Anglo-Gulf Trade Bank into digital bank This is the year digital banking in the UAE has come of age, with multiple launches and transformations. GII wants to be part of the move.
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UAE’s EDB processed $13.6mln startup loans in one month via new scheme – CEO
Emirates Development Bank (EDB) processed AED 50 million ($13.6 million) in loans through its digital banking app in one month after it launched a new scheme to approve loan applications for startups …
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Dubai records over AED1.6 billion in realty transactions Monday
Dubai real estate market recorded 445 sales transactions worth AED1.18 billion, in addition to 68 mortgage deals of AED445.38 million, and 37 gifts deals amounting to AED61.34 million on Monday, data …
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UAE cabinet approves $68.6bn federal budget for 2023-2026
The UAE cabinet, under the chairmanship of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has approved the federal budget 2023-2026 with a total estimated …
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