India and the UAE have just made history by completing a crude oil deal that skipped the US dollar entirely, opting for XRP instead. India paid for oil from the UAE using their local currencies, but …
Sharjah Finance department launches financial training centre
The Sharjah Finance Department (SFD) has launched the Financial Training Centre in collaboration with the Arab Administrative Development Organisation (ARADO) to enhance the financial skills of …
Dubai: Salik Records Dh1.1-Billion Revenue In H1 After 238 Million Vehicles Use Toll Gates
Salik Company PJSC, Dubai’s exclusive toll gate operator, saw 238.5 million vehicles pass through its eight toll gates from January to June this year, resulting in Dh1.1 billion half-year revenue, up …
Emirates NBD, Japanese Bank Eye Major Stake in Yes Bank
Dubai Negotiations are underway between Emirates NBD and a major Japanese bank to secure a substantial stake in India’s Yes Bank, according to industry sources. This potential acquisition could …
Saudi and UAE lead MENA IPOs as 14 sales raise $2.6bn
MENA IPOs in 2024. This was followed by Alef Education Consultancy with its listing on the Abu Dhabi Securities Exchange (ADX), which contributed 19.5 per cent of proceeds with th …
Saudi and UAE lead MENA IPOs as 14 sales raise $2.6bn
MENA IPOs in 2024. This was followed by Alef Education Consultancy with its listing on the Abu Dhabi Securities Exchange (ADX), which contributed 19.5 per cent of proceeds with th …
MENA region saw 14 IPOs valued at $2.64bln in Q2 2024
The UAE had two listings in Q2, Alef Education Consultancy LLC and Spinneys 1961 Holding Plc Kuwait saw first listing since 2019 with Beyout Investment Group (BIG) Holding Co. on the KSE Dubai, UAE – …
UAE national banks provided Dhs 49.5 billion in credit facilities to private sector in 5 months, up 4.5%
Credit facilities provided by the UAE national banks to the private sector reached Dhs49.5 billion during the first five months of 2024, raising the cumulative total to Dhs1.182 trillion at the end of …
UAE national banks provided $13.48bln in credit facilities to private sector in 5 months, a growth of 4.5%
National banks’ financing to the private sector increased on a monthly basis by 1.22 percent, or AED14.3 billion, while on an annual basis, it increased by 5.3 percent, or AED59.7 billion …
India’s SBI aims to sell its Yes Bank stake worth $2.2 bln by end-March, sources say
In a response to Reuters’ query, Yes Bank said it had “no comments to offer regarding (the) stake sale as these inquiries are speculative in nature.” RBI and Emirates NBD, Dubai’s biggest bank, did …
UAE economy continues robust growth across real estate, tourism, manufacturing: OPEC
Younis Haji Al Khoori, Undersecretary of the Ministry of Finance (MoF), said the UAE economy is projected to grow by 5.7% in 2024 despite prevailing global economic challenges, The Expo 2020 Dubai …
Abu Dhabi Wealth Fund ADQ Said to Eye Bank Audi’s Turkish Unit
No final decisions have been made and there’s no certainty that ADQ will ultimately buy the bank, the people said. Representatives for ADQ declined to comment. Bank Audi and Odeabank did not respond …
Explainer: UAE tightens anti-money laundering laws, forms new committees to fight financial crime
“These amendments are in line with the UAE’s ongoing efforts to develop its legislative and legal system, aiming to further strengthen the country’s legal framework in support of the authorities’ …
Bank of Bahrain and Kuwait partners with DP World Trade Finance to boost region’s trade
This strategic collaboration aims to maximise BBK’s global presence in Bahrain, Kuwait, UAE, India and Turkey, to offer trade finance solutions to businesses globally, reflecting the Bank’s commitment …
U.S. Sends Carrier, Missile Submarine to Middle East as Iran Tensions Grow
Washington is building up its capabilities in the region to deter Iran and defend Israel amid concerns of wider escalation.
UAE seeks solo trade agreements as intra-Gulf rivalry heats up
The United Arab Emirates (UAE), the Arab world’s second-largest economy, is increasingly pursuing independent bilateral trade agreements, bypassing the Gulf Cooperation Council (GCC), the Saudi Arabia …
10th P2P Financial Systems International Workshop coming to Dubai in association with VARA (P2PFISY 2024)
Dubai’s progressive stance … Previous editions have been hosted by prestigious institutions such as the Federal Reserve, Deutsche Bundesbank, Bank of Italy, and the European Central Bank, with …