DUBAI, 30th April, 2022 (WAM) — Arab Bank Group reported net income after tax for the first quarter of 2022 of $166 million as compared to $128.3 million for the prior period, recording an increase …
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Reem Finance profit hits all-time high of Dh56.2m in 2021
Reem Finance was able to navigate successfully through Covid-19, attaining successful financial results, reserving its place among market leaders in specialised commercial lending and financing …
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Are UAE free zone companies exempt from corporate tax?
On Thursday, the UAE Ministry of Finance (MoF) released a Public Consultation Document on UAE Corporate Tax. Here are some key questions answered by our expert. Are free zone companies eligible for 0 …
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UAE’s new Dh5, Dh10 and Dh50 banknotes enter circulation
The new Dh5, Dh10, and Dh50 banknotes have entered circulation, the UAE Central Bank announced on Saturday. They have been distributed to all banks operating in the country, as well as ATMs to promote …
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UAE’s new Dh5 and Dh10 banknotes enter circulation
The new Dh5 and Dh10 banknotes have entered circulation, the UAE Central Bank announced on Saturday. They have been distributed to all banks operating in the country, as well as ATMs to promote public …
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Cheque bounce defaulters return to UAE to settle after civil law shift
According to banking sector estimates, between 2016-21, UAE borrowers defaulted more than Dh25 billon worth of loans. Lawyer say the decriminalisation of cheque bounce cases has given an …
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Yahsat wins $7.7m UAE government deal
It sold 975.9 million shares, or 40 per cent of equity through the IPO, which was oversubscribed several times, with significant demand from both qualified institutional and retail investors in the …
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Three Arrows Capital Moving Headquarters to Dubai From Singapore
(Bloomberg) –Crypto hedge fund Three Arrows Capital is planning to move its headquarters to Dubai from Singapore. The move by Three Arrows comes as Dubai opens to crypto firms while Singapore has …
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UAE, London IPOs Planned for Africa Finance’s Infrastructure Projects
(Bloomberg) — Africa Finance Corp. plans to sell shares of its projects on stock exchanges in London and the United Arab Emirates to raise capital and fund infrastructure development across the …
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UAE Ministry of Finance invites online feedback from businesses on new Corporate Tax
Submissions and comments need to be made by May 19 The UAE Ministry of Finance has opened an online public consultation with the local business community to get their views on the country’s …
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Three Arrows Capital to ditch Singapore for Dubai
Three Arrows Capital, a cryptocurrency trading and hedge fund manager, is moving its headquarters to Dubai from Singapore, becoming the latest among a growing number of firms looking to expand …
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UAE to issue first tranche of federal treasuries on May 9
The United Arab Emirates’ finance ministry said on Thursday it will issue on May 9 the first tranche of federal treasury bonds, as part of a plan to develop a local currency bond market, Trend reports …
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CBD ranked No. 1 bank in the UAE on Forbes list of World’s Best Banks 2022
The Forbes fourth annual ‘World’s Best Banks’ report, published in conjunction with market research firm Statista, surveyed more than 45,000 customers across 27 …
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Commercial Bank of Dubai Q1 profit jumps 32.6%
The bank said higher revenue across net interest and other operating income, underpinned by solid loan growth, generated a robust increase in net profit …
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First Abu Dhabi Bank reports highest quarterly net profit in its history at $1.38 billion in Q1 2022
The First Abu Dhabi Bank’s total income reached $1.98 billion and includes a $762.29 million net gain on the disposal of majority stake in payments business Magnati First Abu Dhabi Bank reports …
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Dubai’s Averda explores IPO; abandons merger talks: report
The company had earlier held merger talks with US blank-check firm Better World Acquisition Corp., but those discussions have been abandoned, the report said. The privately-owned business has in the …
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Dubai’s Averda Mulls IPO in UAE or KSA: Report
Averda, a Dubai-based provider of waste-disposal services provider, is considering an initial public offering (IPO) in Saudi Arabia or the UAE, Bloomber …
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