The UAE, represented by the Ministry of Finance (MoF), has signed an agreement to promote and protect mutual investments with Hungary. The agreement, which was signed in Abu Dhabi, aims to enhance …
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FinTech: Why these startups are banking on a payments revolution in the Middle East
“We’re also going to see more and more opportunities surrounding open banking,” says Karim Dakki, CEO at UAE-based startup Klaim, citing buy now, pay later (BNPL) options as “the next important …
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Dubai regulator DFSA hits ex-Abraaj finance chief with record $1.7m fine
The former finance chief of the now-defunct Abraaj Group … 2019 collapse but was too afraid to speak out, according to the Dubai financial regulator. Ashish Dave was handed a $1.7m fine by …
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Meet Aziz Al Harbi of RoboStores, the Saudi expat who is home in the UAE
Dubai: Several expats who come to the UAE in search of greener pastures continue to live here. Their children grow up in the UAE and make it their home. Saudi expatriate Aziz Al Harbi, 32, moved into …
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Zomato IPO oversubscribed on first day
The IPO comes at a time when Indian and global markets are at near record highs. On Wednesday, the 30-share BSE Sensex closed at 52,904.05 points, which is 134.32 or 0.25 per cent higher than the …
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Dubai regulator hands ex-Abraaj finance chief $1.7m fine
Dubai’s financial regulator has imposed a $1.7m fine on the … the ruling said, citing the former finance chief’s written response to the regulator in March. Dave knew such activity was illegitimate, …
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Yahsat starts trading in Abu Dhabi after successful IPO
UAE-based satellite operator Yahsat announced the official listing of its shares and the commencement of trading on the Abu Dhabi Securities Exchange, following the successful completion of its IPO.
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Dubai Regulator Hits Ex-Abraaj Finance Chief With Record Fine
The former finance chief of the now-defunct Abraaj Group said he was aware of the fraud that led to the private equity firm’s 2019 collapse but was too afraid to speak out, according to the Dubai …
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UAE’s ADNOC invests over $750mln in drilling services to boost oil production
The investment is in the form of three contracts awarded by ADNOC Offshore to Schlumberger, ADNOC Drilling, and Halliburton …
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A Guide To Traveling Around UAE On a Budget
Knowing a bit of finance can actually benefit you in many ways! Especially when you are on a budget. If you are traveling to the UAE or moving around UAE and want to do it on a budget then his UAE …
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After Pine Labs & Mobikwik, now Visa & Lightbox backed B2B payment solutions firm PayMate planning an IPO
The firm’s founder Ajay Adiseshann is a technology entrepreneur . Beyond Visa & Lightbox, the firm’s other investors include Recruit Strategic LLC, Mayfair 101, BCCL, Mayfield Fund, Kleiner Perkins Ca …
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Mubadala-backed Yahsat expects new satellite launch in H2 2023 -CEO
Yahsat, the newly listed satellite company partly owned by Abu Dhabi state investor Mubadala, plans to launch a new satellite in two years, aimed at introducing advanced data services to its clients …
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Meet MMK Nair, Indian expat from Kerala, who has served Dubai’s aviation for 51 years
Accounts clerk in 1970, who retired as Dubai Airport finance director, runs flying school Dubai: As a college boy, Indian expat Mundarath Muralikrishnan Nair, known as MMK Nair, was fascinated by …
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Dubai’s Masherqbank prepares for a digital-only future
Dubai: One of the oldest banks in the United Arab Emirates is preparing for a digital-only future as it fends off competition from non-traditional financial services startups. Dubai-based Mashreqbank …
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XTB MENA Receives a License from the Dubai Financial Services Authority
XTB has been granted through its branch XTB MENA a category three license from the Dubai Financial Services Authority (DFSA) to operate in the country.
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UAE Central Bank issues monetary, banking developments for May 2021
The Central Bank of the UAE has announced that the Money Supply aggregate M1 increased by 0.3 per cent, from Dh644.4 billion at the end of April …
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National Bank of Fujairah, APICORP extend $34m for TotalEnergies’ 50MW renewable energy project in Dubai
Dubai: The National Bank of Fujairah and the Arab Petroleum Investments Corp. (APICORP) have extended $34 million to the French energy giant TotalEnergies to develop a 50MW renewable energy portfolio …
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