Spinneys one of the UAE’s leading fresh food retailers, on Thursday announced that first-half revenues reached a record high of Dh1.6 billion, incr …
Spinneys posts record 9.9% revenue growth in H1 2024, announces first post-IPO dividend
Spinneys’ board has approved its first post-IPO interim dividend of AED102.6 million, equivalent to 2.85 fils per share, representing 70 percent of distributable profits …
Spinneys H1 net profit rises 15.2%, Dhs102.6m in interim dividend approved
Spinneys’ strong financial performance highlights its strategic focus on operational efficiency and premium product offerings …
UAE retailer Spinneys posts $20mln profit for Q2 2024
Dubai-listed supermarket operator Spinneys has announced a profit of 72 million dirhams ($20 million) for the second quarter of 2024, up 17.8% year-on-year.
UAE national banks provided Dhs 25.7 billion in credit facilities to business, industrial sectors in 5 months
Credit facilities provided by the UAE national banks to the business and industrial sectors amounted to Dhs 25.7 billion during the first five months of 2024, …
Dubai-based firm launches ‘$250m’ payment platform for banks, telcos
The Network International, a Dubai-based financial services firm, has announced the launch of its cloud-based, integrated payment suite known as Network One.
ICAEW and UAE Banks Federation partner to guide firms in digital currency adoption
The panel emphasised the inevitability of complete financial digitisation, with the UAE already leading in AI adoption …
UAE remains GCC’s fastest growing economy in 2024-25 despite slowdown
The IMF also projected about 4 per cent GDP growth in 2024 in May, revising up from the 3.5 per cent forecast it released in April …
Banqeta and Europe Emirates Group announce exclusive partnership in Dubai
This collaboration aims to deliver cutting-edge financial solutions that seamlessly integrate traditional and digital currencies for businesses worldwide using the services provided by Europe Emirates …
UAE national banks provided AED25.7 billion in credit facilities to business, industrial sectors in 5 months
ABU DHABI, 8th August, 2024 (WAM) — Credit facilities provided by the UAE national banks to the business and industrial sectors amounted to AED25.7 billion during the first five months of 2024, …
UAE Savings Deposits Surge to $80.2 Billion
Savings deposits in UAE banks have witnessed a notable increase, climbing 8.4% to reach $80.2 billion. This growth underscores the strengthening financial stability and growing confidence in the …
How residents in the UAE can begin investing with minimal funds
Money, side hustles and investments have become major topics of conversation on social media platforms, with an increasing number of financial influencers, or “finfluencers”, talking about how they …
Vadodara to Dubai: The bank account broker’s tale of fraud
The cybercrime police arrested Tarif Hussain Malik, a 33-year-old from Vadodara, for aiding Dubai-based Chinese cyber criminals by providing his bank accounts to park defrauded money. The …
China, Saudi, UAE Agree To Roll Over Pakistan’s USD 12 Billion Debt For One Year
China, Saudi Arabia and the UAE have agreed to roll over cash-strapped Pakistan … After a meeting of the Senate Standing Committee on Finance on Tuesday, Finance Minister Muhammad Aurangzeb told …
Pakistan secures $12 billion debt rollover from China, Saudi Arabia, UAE
To stabilize its economy, Pakistan has secured an agreement with China, Saudi Arabia, and the UAE to roll over $12 billion in debt for one year. This financial lifeline coincides with the anticipated …
Dubai’s BHM seeks shareholders’ nod to acquire UAE’s AlWaqan Capital
A leading provider of securities brokerage and investment management services based in Dubai, BHM Capital offers investors a wide range of services to facilitate trading, clearing and settlement …
China, Saudi, UAE Agree To Roll Over Pak’s $12 Billion Debt For A Year
China, Saudi Arabia and the UAE have agreed to roll over cash-strapped Pakistan’s $12 billion debt for one year, as the International Monetary Fund (IMF) is likely to approve its $7 billion bailout …