The UAE on Wednesday announced a $10 billion fund for investments in Turkey, the Emirates News Agency (Wam) reported.The announcement came as His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown …
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Emirates Development Bank lends $191m to UAE’s industrial sector
Emirates Development Bank has allocated a financing package worth more than Dh700 million ($191m) to the UAE’s industrial sector since the start of the year, the Ministry of Industry and Advanced …
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UAE – Homegrown founders credit success to supportive local ecosystem
Leading UAE-based founders praised the nation’s startup ecosystem, the ease of access and support it provides to dr …
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UAE – DIB posts Dh3.1 billion net profits in 9 months
Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE and the second-largest Islamic bank in the world, has …
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Opportunity awaits UAE banks: 61% of clients set to approach their banks for new services
Successful ‘Super Apps’ converging e-commerce and financial services valued between USD 4 – 40 billion 70% of UAE customers aged 25-44 primed to approach their banks for new offerings New …
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UAE – Pakistani rupee hits all-time low against US dollar
Pakistan’s rupee on Monday hit an all-time low against the US dollar as the demand for the greenback rose in the in …
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UAE: Banks waive over $315 million debts of 4,511 Emiratis
The Nonperforming Debt Relief Fund announced on Wednesday that 20 banks and financial institutions had waived the debts of 4,511 Emirati citizens, with a total value of more than AED 1,157,388,000 …
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Dubai’s Shuaa Capital in talks to sell shares in subsidiaries
Dubai-based investment bank Shuaa Capital is in talks with different stock exchanges to list the shares of its subsidiaries through initial public offerings. These talks are at “very early stages” and …
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UAE banks waive over Dhs1 billion debts of 4,511 Emiratis
Al Suwaidi stressed that what gives this initiative special importance is that the country has defined an ambitious plan vision for the UAE’s next 50 years of success as the country prepares to unite …
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UAE Central Bank, Mohammed Bin Rashid Al Maktoum Creative Sports Award issue coin to mark Year of 50th
The Central Bank of the UAE (CBUAE) and the Mohammed Bin Rashid Al Maktoum Creative Sports Award have issued silver commemorative coins to celebrate the 10th anniversary of the Mohammed Bin Rashid Al …
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Mashreq signs MoU with Dubai South to support SMEs
Mashreq, one of the leading financial institutions in the UAE, and Dubai South will develop a strong financial ecosystem that will benefit SMEs that operate out of the latter’s well-established …
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EDB, ADFD sign MoU to provide new banking, financing solutions
Emirates Development Bank (EDB), a key financial enabler of the country’s economic diversification and industrial transformation agenda, has signed a Memorandum of Understanding (MoU) …
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UAE: Al Habtoor to Decide on IPO in Q1 2022
Dubai hotel billionaire Khalaf Al Habtoor announced in an interview on Bloomberg TV that he will make a decision on listing his firm in the first quarte …
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SMEs set to accelerate UAE’s economic diversification
Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank (EDB), said the bank was adapting to diversification by focusing on accelerating industrial development in the UAE and enabling SMEs to be a …
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Sheikh Maktoum meets Bank of America’s Bernard Mensah
Dubai: The importance of Dubai and the UAE as a financial hub and the incentives offered to investors were praised by a senior Bank of America official on Tuesday. During a meeting with Sheikh Maktoum …
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Dubai Hotel Billionaire to Decide on IPO by Early Next year
That mirrors the broader rebound in Dubai, where property sales are at decade highs and hotel occupancy above 2019 levels. Expo 2020, …
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State-owned Bank Syariah Indonesia to open representative office in Dubai in 2022
Indonesian state-owned Islamic bank, Bank Syariah Indonesia (BSI), is planning to open a representative office in Dubai in 2022, local media have reported. The bank’s corporate secretary Gunawan Arif …
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