Commercial Bank, Qatar’s third largest bank by assets, has agreed, in principle, to sell its 40 per cent stake in Abu Dhabi-listed United Arab Bank to United Arab Emirates-based Tabarak Investment, sources told Reuters on Tuesday. The sale will be …
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UAE biggest source of GCC remittances to Philippines in 2017
Dubai: The value of remittances … posting the biggest jump of 30.8 per cent from a year earlier. The figures are based on bank reports and refer only to funds coursed through banks. Overall, Filipinos from around the world remitted a total of $31.3 …
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Obaid Humaid Al Tayer Meets Vice President and Finance Minister of Switzerland in Dubai
As part of the Ministry of Finance’s efforts to develop the UAE’s network of international relations, HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs met with HE Ueli Maurer, Swiss Vice President and Finance Minister, accompanied by …
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Qatar lender to sell stake in UAE’s UAB to Tabarak
Abu Dhabi, Dubai: Commercial Bank, Qatar’s third largest bank by assets, has agreed, in principle, to sell its 40 per cent stake in Abu Dhabi-listed United Arab Bank to United Arab Emirates-based Tabarak Investment, sources told Reuters on Tuesday.
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UAE bourses stay sluggish amid select buying
The Dubai Financial Market General Index closed 0.84 per cent lower at 3,270.34. Traded value was at Dh233 million. “Trading volumes remained modest on UAE financial market on new catalysts, especially after Al Waha Capital proposed lower than expected …
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UAE firms prepare to file the first VAT return
During the first 100 days of VAT in the UAE, organisations have to navigate various complexities in order to ensure they have a compliant reporting process embedded in the business, said experts at a recent event in Abu Dhabi. Business leaders from the UAE …
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UAE Minister Of Finance Sheikh Hamdan Al Maktoum Opens Gulfood 2018
His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, today opened Gulfood 2018, the 23 rd edition of the world’s largest annual food and beverage trade show at Dubai World Trade Centre (DWTC). Spread across …
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It’s crucial to prepare children for the next generation of jobs, says Ministry of Finance
The future is already here, and the UAE is certainly keeping up. HE Younis Haji Al-Khoori, Undersecretary of the Ministry of Finance (MoF), speaks exclusively to Time Out UAE Kids ahead of Innovation Playground. The event, hosted by the MoF in …
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UAE Ministry of Finance Holds Discussions on Fintech, Regtech and PPPs for Healthcare
The Ministry of Finance (MoF) held today two open dialogue sessions titled ‘Fintech and Regtech: Revolutionizing Compliance and Promoting Financial Inclusion’, and ‘Partners in care: PPPs for better Healthcare’. The sessions took place on the …
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Dubai wealth fund said to seek $1bn loan
The loan was priced at a spread of 215 basis points over benchmark rates. HSBC Holdings, Citigroup, Standard Chartered, Emirates NBD and Dubai Islamic Bank were among lenders that provided the original loan.
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Emirates NBD Bank : Possible Saudi MSCI inclusion, Aramco IPO to spur Gulf equities
two developments the UAE lender is banking on to drive a turnaround for Gulf equities and result in a huge “wave” of money flowing into capital markets. Gulf equities have been laggards in terms of performance compared to their emerging or developed …
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Nasdaq Dubai launches futures on ADX to attract investors
The index provides a benchmark of the overall performance of the ADX market which is the second largest in the GCC by market capitalisation and includes First Abu Dhabi Bank, Eshraq Properties … latest expansion of Nasdaq Dubai’s futures market …
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Emirates NBD Bank : RTA, Emirates NBD endorse plan for payment of fines and seasonal parking cards in instalments
DUBAI, 19th February, 2018 (WAM) — The Roads and Transport Authority, RTA, in Dubai and the Emirates National Bank of Dubai, Emirates NBD, have agreed on an initiative whereby fines payable by road users to the RTA and fees of seasonal parking cards can …
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Strong growth in core income drives higher quarterly profits at UAE’s largest banks
Moody’s report, which was published today focuses on key takeaways from the Q4 2017 results of the four largest banks in the United Arab Emirates(UAE): First Abu Dhabi Bank PJSC (FAB, Aa3/Aa3 Stable, a3), Emirates NBD PJSC (ENBD, A3/A3 Stable, ba1), Abu …
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Noor Bank Donates Dh1.6 Million to Support Rashid Centre for Disabled in Dubai
Noor Bank, a leading Shari’a compliant bank in the UAE, has made a contribution of AED 1.6 million, accumulated from its ‘late payments fund’ by its banking clients to the Rashid Centre for Disabled in Dubai, UAE. After supervision by its Shari’a …
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Interest growth boosts UAE banks profits: Moody’s
After a 4 per cent decline in Q2 2017, FAB registered the highest increase at 4.5 per cent in Q4, reflecting their solid deposit franchises as the largest bank in the UAE. • Deposit growth at ENBD and DIB was around the 2 per cent average total growth of …
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Swiss-UAE bilateral trade robust, investments in UAE total $20b
… between the UAE and Switzerland are robust and Swiss foreign investment in the UAE amounts to $20 billion (Dh73.46 billion), the European country’s visiting finance minister said in Abu Dhabi. “The UAE is one of the most important economic …
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