The Central Bank of the UAE issued a general statement to all banks and financial institutions to search for and freeze any accounts, deposits or investments belonging to persons and entities listed by the four countries boycotting Qatar. The bank said in …
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Dubai Financial Market : DFM second quarter profit plummets on lower trading commission fees
Only listed exchange in the Arabian Gulf posted a 19.2 per cent drop in net profit The Dubai Financial Market posted a 19.2 per cent drop in second quarter net profit on lower trading comission fees. Jasper Juinen / Bloomberg The Dubai Financial Market …
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UAE’s Lulu Exchange acquires Al Falah Exchange
Lulu Exchange is part of the UAE’s Lulu Group and offers financial services such as remittances, currency exchange and salary administration. It launched eight years ago and operates in the UAE, Oman, Kuwait, Qatar, Bahrain, India, Bangladesh …
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UAE banks profit to grow about 5 percent in second half: official
“If you look at the bank results that have come in so far, collectively there is a growth of five percent,” said Abdulaziz al-Ghurair, Chairman of the UAE Banks Federation (UBF) and chief executive of Mashreq MASB.DU, Dubai’s third largest lender by assets.
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ADFD to Study Feasibility of UAE Export Finance Programme With Korea Development Institute
Abu Dhabi Fund for Development (ADFD), the leading national entity in development aid, appointed the Korea Development Institute (KDI), a prominent Korean think tank, as expert consultants to advise on the need for a UAE-based Export Finance Programme.
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UAE residents warned against financial frauds
The Abu Dhabi Judicial Department has warned residents against investing in financial portfolios that are not licensed by authorities or falling victims to fraudsters. The judicial officials also highlighted about the dangers of these portfolios, and how …
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Dubai Financial Market posts 4% rise in net profit
Dubai Financial Market has announced a net profit of AED145.6 million for the first six months of 2017, up 4 percent on the year-earlier period. The increase was recorded despite net profit slumping 19 percent in the second quarter of the year, the bourse …
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Amlak Finance : Dubai developers ramp up sales as Amlak completes part of debut project
07/20 DAMAC PROPERTIES DUBAI PSC: Amlak launch ‘Double Your Property’ 07/19 DAMAC PROPERTIES DUBAI PSC: Amlak partner to offer investment opportunities 07/19 DAMAC PROPERTIES DUBAI PSC: inks home financing tie-up with Amlak 07/17 DFM gains 5.02 pts at …
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BRIEF-Dubai Financial Market Q2 profit falls
July 25 (Reuters) – DUBAI FINANCIAL MARKET: * Q2 NET PROFIT ATTRIBUTABLE TO SHAREHOLDERS 43.3 MILLION DIRHAMS VERSUS 53.5 MILLION DIRHAMS YEAR AGO * Q2 TOTAL INCOME 92.2 MILLION DIRHAMS VERSUS 102.4 MILLION DIRHAMS YEAR AGO Source:(bit.ly/2tFxXh8) Further …
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UAE surplus reserves surge to top $11.6bn in June
Surplus reserves at UAE banks and other financial institutions surged to Dh42.8 billion ($11.6 billion) by the end of June, a growth of 77.6 per cent, or Dh18.7 billion, from Dh24.1 billion in the first month of the year 2017, according to UAE Central Bank …
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UAE economy benefitting from rebound in global trade and tourism
In a new report, released today, the accountancy and finance body says the UAE has a more favourable economic outlook because it is the most diversified economy in the GCC. Fuel generates just 22 per cent of the country’s export revenues. The report …
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Surplus reserves at UAE banks increase to AED 42.8 billion in June
According to banking experts, the strength of the UAE banking sector has enabled it to consolidate its financial reserves despite slower growth in regional and global economy, highlighting the high investment returns provided by the UAE economy as one of …
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UAE bank robbed in broad daylight by masked men
According to the police, the robbery took place at a branch of a bank at Al Buhaira road along the corniche at around 11am. A robbery took place at a bank branch in Sharjah on Tuesday morning, Sharjah Police has confirmed. According to the police, the …
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UAE’s Oil Firm ADNOC Negotiates Taking Up To $5B Loan
… Company (ADNOC), the state-held oil company of the United Arab Emirates (UAE), is in discussions to get a loan of up to US$5 billion, Reuters reported on Monday, citing banking sources, as low oil prices are forcing giant oil companies in the Middle …
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India clarifies income tax rule for NRIs
Dubai: The Government of India has clarified that Indian expatriates have to provide their foreign bank account details only if they do not have a bank account in India when they apply for income tax refunds. The government’s official statement issued on …
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First Abu Dhabi Bank to accelerate DevOps success with Validata’s Release Automation Suite
(MENAFN Editorial) FAB is one of the leading banks in the UAE, established from the merge of First Gulf Bank and National Bank of Abu Dhabi (NBAD), offering an extensive range of tailor-made solutions, products and services, in addition to customised …
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The Debt Panel: Dubai resident behind on school fees, rent and car loan and cannot afford consolidation loan payments
I suspect the issue with the bank is that the amount of the current loan, in relation to the current income, is in excess of the debt burden ratio (DBR) as set by the UAE Central Bank. This is the percentage of income that is used to repay debts and is …
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