Reem Finance, a leading company offering financial services across the UAE, has announced the launching of the ‘Amala’ programme, a unique service to finance hiring domestic workers. The programme …
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Dubai approves general budget for 2022-2024, allocates $1.42bn to construction projects
The budget cycle will support Dubai’s efforts to stimulate the macroeconomy and the objectives of the Dubai Strategic Plan 2030. Dubai approves general budget for 2022-2024, allocates $1.42bn to …
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Zand, UAE’s first digital bank, to open soon amid demand
Zand, the UAE’s first digital bank, is set to open at a time where UAE residents are increasingly receptive to digital offerings.
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UAE – China’s brutal bear market Arabian Post
Alibaba was in the crosshairs of President Xi ever since its ill-fated, aborted Ant Financial IPO and now trades at 119 in New York. I remember Alibaba was $310 in October 2020 and $230 around New …
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UAE cheque rules: A big leap towards global best practices
Dubai: The UAE’s new law on decriminalisation of bounced cheques that became effective on Sunday has come as a great leap forward in updating the banking laws in the country in sync with the global …
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UAE – Extension of SEBI suspension on agro trading to ease pressure on India’s poor
Dubai – One of the steps being taken is that SEBI, which is a regulator for commodities trading on the market, is that has suspended new futures con …
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2022 forecast: Why UAE companies should prepare for rising inflation
Inflation is a natural follow-up to any contraction or recession,” said Hind Eisa Salim, executive vice-president and head of services and manufacturing at Mashreq Bank. 2022 forecast: Why UAE …
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UAE begins implementation of display of caller identity of companies
Feature informs customers the caller’s ID, even if the caller’s contact is not saved Dubai: The Telecommunications and Digital Government Regulatory Authority (TDRA) of the UAE announced that the …
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Dubai Police Anti-Narcotics cell helps arrest 19 international fugitives, blocks 75 online sites
Dubai: The General Department of Anti-Narcotics at Dubai Police supplied liaison officers of 23 different countries with 76 security tips in 2020, which aided the arrest of 19 international fugitives …
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UAE – 3iQ to release new products in Middle East
Q anticipates that 2022 will see continued growth for bitcoin and ether as they continue to trickle into mainstream adoption. By Fred Pye Publi …
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Saudi central bank to launch repo operations using Bloomberg from this month
Dubai: The Saudi Central Bank (SAMA) announced that it will conduct repo, reverse repo and Open Market Operations (OMO) with locally operating banks using Bloomberg’s Auction System from January 2022.
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UAE Imposes Five-Year Jail Term and Up to $272,000 in Fines for Crypto Scam Artists
The United Arab Emirates (UAE) has introduced a new law that would impose a five-year jail term and up to $272,000 for perpetrators of crypto scams.
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UAE bank timings in 2022 – all you need to know
banks across the UAE have announced new timings for their branches, which would affect how you can reach out to your bank. In a circular issued by the UAE Central Bank, it was noted that banks in …
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UAE – EGA repays Al Taweelah project finance facilities early in optimisation of capital structure
ABU DHABI, 30th December, 2021 (WAM) — Emirates Global Aluminium (EGA) today announced the early, full repayment of the project finance facil …
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UAE Central Bank slaps Dhs600,000 fine on exchange house for using civilian vehicle to transport money
The exchange house used a civilian vehicle to transport the money instead of using Cash-in-Transit Agent. By doing so, it violated the CBUAE regulations and knowingly put the lives of its employees at …
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UAE money exchange house fined Dh600,000 for transporting cash in civilian car
The company failed to employ the services of a licensed cash transporter Dubai: The UAE Central Bank has fined a local exchange house Dh600,000 for transporting money in an ordinary civilian vehicle …
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EDB Banking App Backs 500+ UAE Firms Since September
The Emirates Development Bank said that more than 500 United Arab Emirates-based SMBs and startups have opened accounts with its Business Banking App.
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