The Fed on Wednesday increased the policy rate by 75 basis points (bps) after a larger-than-expected three-quarters percentage point in June. This is the Fed’s fourth interest rate increase in four …
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Mohammed swears in 4 new Dubai International Financial Centre Courts judges
Speaking on the occasion, Sheikh Mohammed highlighted the importance of constantly enhancing the DIFC’s judicial framework in order to further raise the confidence of the local and global business …
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UK High Court wades into Dubai trade finance fraud case
The UK High Court has sided with the Dubai Islamic Bank in the latest episode of a long-running trade finance fraud saga, ruling against a British man who had been seeking an immediate release from …
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Govt to Sell its Stakes in 5 Energy Companies to UAE for $2 Billion
The Federal Cabinet has approved selling its stakes in five energy companies to UAE for $2 billion on a government-to-government (G2G) basis, sources told …
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Dubai Islamic Bank’s first-half profit surges to over $735mln
Dubai Islamic Bank announced on Wednesday a significant surge of 45 per cent to Dh2.7 billion in first-half profitability compared to Dh1.86 billion in the same period last year. The strong …
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Dubai Islamic Bank income jumps 7 percent ‘despite global headwinds’
The bank’s net profits amount to 2.7 billion and also saw an increase in total income rose to AED6.3 billion Dubai Islamic Bank income jumps 7 percent ‘despite global headwinds’ banking, Dubai, Dubai …
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Commercial Bank of Dubai posts 28.1% jump in H1 profit
Commercial Bank of Dubai (CBD) reported on Wednesday a net profit jump of 28.1 per cent to Dh866 million for the first half of 2022 compared to the same 2021 period. The bank said in a statement that …
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UBA Group opens banking operations in Dubai.
The branch will facilitate the financing of trade and investment transactions between the Middle East and Africa | THE INDEPENDENT | United Bank for Africa Group has extended its operations to the …
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Emirates Development Bank to offer free manufacturing consultancy services to SMEs
The UAE’s Emirates Development Bank (EDB) is partnering with Future Factory to deliver free consultancy services to its small and medium enterprise (SMEs) customers. The move is part of the lender’s …
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Emirates Development Bank offers free consultancy to SMEs, boosting efficiency in UAE manufacturing
Emirates Development Bank (EDB), the key financial engine of the UAE’s economic diversification and industrial transformation agenda, is announcing a new drive to offer free expert guidance to its …
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UAE central bank slaps $1.4mln fine on exchange house
The UAE Central Bank has imposed a fine of more than AED5.2 million ($1.4 million) on an exchange house operating in the country. The exchange outlet, which remains unidentified, was found to have a …
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Dubai Islamic Bank’s H1-2022 net profit at Dh2.7b as impairment charges dip
In the first six months, one of the world’s biggest Islamic banking institutions, saw impairment charges trimmed to Dh947.62 million, from Dh1.49 billion. DIB’s net profit for H1-22 came to Dh2.7 …
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Fund transfers between UAE banks amounted to $1.07trln in first four months of 2022
Statistics noted that March was the busiest month with dirham-denominated transfers standing at AED1.1 trillion, while February was the least active month with transfers at AED861.8 billion.
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Fund Transfers Between UAE Banks Amounted To AED3.96 Trillion In First Four Months Of 2022
ABU DHABI, 26th July, 2022 (WAM) — The gross value of interbank fund transfers through UAE Fund Transfer System (UAEFTS) reached to AED3.96 t …
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Cheques cleared in first four months valued at over $105mln: UAECB
The statistics showed that the number of cheques processed by the ICCS increased by 2.7% in the January-April period …
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UAE’s Adnoc Buys ZMI Holdings in Offshore Oil and Wind Push
The United Arab Emirates’ main energy company has bought privately-owned ZMI Holdings as it looks to bolster its offshore oil, natural gas and wind businesses.Most Read from BloombergWho Is Nicole …
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Adib’s digital banking platform for corporates sees growth
Aimed at corporations of all sizes, Adib Direct is a secure and centralised platform that integrates a suite of banking solutions into a single, streamlined interface. Businesses do not need to visit …
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