The UAE decision follows the US Federal Reserve’s decision on Wednesday to keep interest rates unchanged amid inflation having not adequately lowered …
New tax in UAE? What you need to know about Global minimum tax
Ministry of Finance launched a digital public consultation to gather the views of relevant stakeholders on the implementation …
Finance Minister, UAE Ambassador discuss bilateral cooperation
United Arab Emirates Ambassador Hamad Obaid Ibrahim Salim Alzaabi called on Finance Minister Muhammad Aurangzeb in Islamabad today. They discussed matters regarding bilateral relations and economic …
UAE lenders’ total assets hit Dh4.1 trillion
In the last quarter of 2023, banks’ total assets increased by 3.1 per cent quarter-on-quarter while total deposits of resident and non-resident customers with UAE banks rose by …
What free zone companies need to know about UAE’s corporate tax
While companies operating in the UAE free zones might not need to pay the corporate tax, which came into effect in June last year, some conditions remain that make them subjective to the tax.
Turkish fund, UAE bank ink 1st Islamic finance deal
ISTANBUL, March 20 (KUNA) — Turkiye Wealth Fund (TWF) and UAE’s Sharjah Islamic Bank (SIB) have signed a USD 100 million Murabaha financing agreement. This three-year term agreement marks the first …
Dubai Islamic Bank teams up with Fitze for another first – the Ramadan “Move-a-Thon”
The Ramadan Move-a-thon campaign, in partnership with Fitze, an innovative fitness app, engages all participants be a part of meaningful change – simply by contributing towards a collective goal of 1 …
Russia’s Access to Global Banking System Closing: Implications Unfold
Late last year, the White House granted the Treasury Department expanded sanctions authority, empowering it to penalize foreign banks for transactions involving Russia’s military-industrial base. …
Borse Dubai Intends to Divest $1.6 Billion Portion of Nasdaq Shares
In a significant financial shift, Borse Dubai, a prominent Dubai sovereign wealth fund and the largest shareholder of the Nasdaq stock index, is planning to divest a substantial portion of its …
With Dubai Taxi Company and Parkin, IPOs in emirate are booming: what’s next?
The past few months have seen the Dubai government sell stakes in two of its entities – Dubai Taxi Company (DTC) …
UAE: Mohammed bin Rashid receives Ramadan well-wishers
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, today received Ramadan well-wishers on the occasion of the Holy Month, at the Al Shindagha …
Borse Dubai to sell 27M Nasdaq shares in secondary offering
Borse Dubai, a minority shareholder of Nasdaq (NASDAQ:NDAQ), is commencing a secondary offering of 26,956,522 shares of Nasdaq’s common stock, the companies said Tuesday. Nasdaq (NDAQ) is not offering …
Nasdaq and Borse Dubai Announce Launch of Secondary Offering of Nasdaq Common Stock
Nasdaq, Inc. (Nasdaq: NDAQ or Nasdaq) and Borse Dubai Limited (Borse Dubai) today announced the commencement of a secondary offering by Borse Dubai of 26,956,522 shares of Nasdaq’s common stock. Borse …
One of UAE’s largest banks curtails cooperation with Russians under US pressure – WSJ
Due to the US sanctions pressure, Dubai’s main state-owned bank Emirates NBD has closed some accounts of Russian oligarchs and Russian oil traders. Source: The Wall Street Journal Details: It is noted …
Russia’s Backdoor to the Global Banking System Is Slamming Shut
A major lender in Dubai has scaled back Russia-related business, while Turkish lenders have become more cautious.
Islamic banking assets in UAE surpass Dhs700b: CBUAE
The assets of Islamic banks operating in the UAE exceeded Dhs700 billion for the first time in history at the end of 2023, according to the latest statistics from the Central Bank of the UAE (CBUAE).
UAE investments abroad hit $2.5 trillion in beginning of 2024: Secretary-General UAEIIC
The UAE has solidified its position as a leading regional and global player in foreign direct investment, according to Jamal Bin Saif Al Jarwan, Secretary-General of the UAE International Investors …