ABU DHABI: The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 50 basis points, effective from Thursday, May 5, 2022.
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UAE Central Bank increases base rate
The Central Bank of the UAE (CBUAE) announced Wednesday that it would raise its base rates by 50 BPS, following an announcement by the US Federal Reserve. Meanwhile, the Central Bank of Kuwait raised …
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UAE-India Cepa deal will be a gamechanger in trade ties, businessmen say
Ali Rao, CEO of Elixir, an investment conglomerate in Dubai, called the agreement a milestone because of the huge impact it is set to have on trade and finance in the region. “Cepa is expected to …
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DEWA raises $6.1bn to become UAE’s largest IPO
The Dubai Electricity and Water Authority (DEWA) has set the final offer price for its IPO at AED2.48 per share and has marked the completion of the book building and subscription process for its …
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Dubai: Man uses social media to lure victim, robs him of over Dh66,000
The accused continued to attack him until he gave them the pin of his bank card. Once he gave in to their demands, they handcuffed him and left the apartment. After a few hours, they returned to the …
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Dubai’s virtual assets regulator becomes world’s first authority to enter the metaverse
finance, professional services, lifestyle, entertainment and fast-moving consumer goods to enable economic freedom in the metaverse, the statement said. “Dubai views the virtual asset industry as the …
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Hedge Funds Plan to Increase Data Services’ Outsourcing
A global survey of quant fund managers who collectively oversee $1.2 trillion in assets under management shows that 73% of managers have already increased their level of outsourcing of data services …
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LIC’s $2.7-billion IPO set to be the fifth-biggest globally in CY22
while Chinese mobile communications provider China Mobile IPO, which raised $8.6 billion, comes second. Dubai Electricity and Water Authority’s (DEWA’s) $6.1-billion IPO in March is currently the …
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Dubai real estate retains its appeal
Dubai’s real estate market recorded a total of 25,972 real … sales transactions compared to March 2021 and a 109 per cent increase in sales value. The IPO of India’s biggest insurer, Life Insurance …
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DIFC-Based Tarabut Gateway Becomes The First Regulated Open Banking Platform In The UAE After DFSA Grants Licence
There is a huge potential for Open Banking across the UAE and the region, and it is the commitment from regulators and authorities that helps companies like ours take those initial steps.
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Dubai: Skincare guru behind flawless faces of glamorous stars opens clinic in city
A strong advocate of non-surgical beauty procedures, Dr Nirdosh says beauty can be achieved without breaking the bank. “Just because you can … liposuction and laser peel a social norm in Dubai.
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EDB reaffirms financial commitment to UAE SMEs and start-ups
SMEs are the backbone of the UAE economy, comprising 98 per cent of the total companies … economic sector and existing access to finance, on top of the standard risk and profit calculations, …
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UAE’s regulatory reforms are a magnet for GCC startups
UAE’s tech startup scene is seeing heavy funding action, and GCC investors need to joinin The logo of the 41st Gulf Cooperation Council (GCC) at the media center in at Al Ula Image Credit: AP …
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UAE law: What happens if an expat dies outside the UAE without a will?
Question: What is the law surrounding one’s bank account if an expatriate in the UAE has an untimely death without registering a will in the country? Does the money go to a spouse/family member, or is …
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UAE Central Bank starts circulating two new banknotes
Abu Dhabi, Apr.30 (BNA): The UAE Central Bank of the UAE (CBUAE) has announced that the new AED5 and AED10 banknotes have entered circulation following distribution to all banks operating in the …
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Arab Bank Group reports first quarter 2022 net profit of $166 million
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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