COPENHAGEN: The criminal trial of a British hedge fund trader charged with defrauding the Danish state of $1.8 billion is set to begin on Monday, in a case that is expected to be …
Romance scams in Dubai: Women tricked out of up to Dh500,000 by fraudsters faking love
One expat’s boyfriend would ‘fine’ her thousands of dirhams every time she upset him, while another sold her car to keep up with her partner’s financial demands …
HH Sheikh Mohammed bin Faisal bin Sultan Al Qassimi elected as Chairman for United Arab Bank
Succeeding HH Sheikh Faisal bin Sultan bin Salem Al Qassimi, who chaired the bank’s Board of Directors for nearly fifty years …
Commercial Bank of Dubai AGM approves the highest-ever financial performance
During the AGM, the Board adopted the decision to distribute cash dividends at a rate of 50 per cent of the Bank’s net profit for 2023, being 44.3 per cent of paid-up capital as of 31 December 2023, …
Dubai: Property Prices To Increase Up To 14% In 2024, Says Binghatti CEO
Property prices in Dubai are expected to increase up to 14 per cent this year, driven by population growth, high demand for mortgages due to an expe …
Parkin IPO: How Dubai’s parking fees, fines, zones could change
This means more vehicles on the road and correspondingly, an equal demand for more parking spaces across the city. Parkin PJSC – the sole operator of public parking spaces across Dubai – noted when it …
Dubai’s latest IPO: How do I buy shares in Parkin? All you need to know
(Dubai CSD is licensed and governed by the Securities … but that’s subject to change on demand for the IPO. The share offering’s subscription period will run from March 5 to March 12, which …
Major Dubai real estate boost allows digital rent payments with direct debit instead of ‘relic’ cheques
Dubai tenants and landlords can now pay and receive rent payments via direct debit and ditch out-dated cheque payments.
National Bank of Fujairah approves dividends of 15% at annual meeting
National Bank of Fujairah (NBF) held its Annual General Assembly Meeting (AGAM) on Friday at Novotel Hotel, Fujairah, United Arab Emirates (UAE), where shareholders approved the distribution of …
Abu Dhabi’s ADQ reportedly picks banks for Etihad Airways IPO
for a potential initial public offering (IPO) of Etihad Airways. Rothschild & Co is acting as an independent financial adviser to ADQ, the smallest of Abu Dhabi wealth funds and owner of the UAE’s …
What’s behind Dubai’s new 20% tax on foreign banks?
Why it matters: More than a dozen foreign banks operate in Dubai. Many of the prominent international banks in the city, such as JP Morgan and Deutsche Bank, are located in the Dubai International …
Dubai Ruler Introduces a 20% Yearly Tax on Foreign Banks
A recent legislation has been enacted about the taxation of foreign banks in operation in Dubai. The law applies to all foreign banks within the emirate, encompassing special development zones and …
Dubai: Sheikh Mohammed announces new 20% annual tax on foreign banks
A new law has been issued regarding the tax on foreign banks operating in Dubai. The provisions of the law apply to all foreign banks operating in the emirate, including special development zones and …
UAE: New financial unit to resolve consumer complaints with banks, insurance firms
Are you facing a service issue with a licenced financial institution or insurance company?Now, an independent ombudsman unit named Sanadak – a first of its kind in the region, has been launched for …
QuantL AI, the revolutionary trading system launches in Dubai
Spearheaded by Madhur Kakkar, QuantL AI has marked the end of its waitlist phase and is now focusing on enhancing its services and strategies …
UAE’s banking sector shows growth, stability
In the Emirate of Dubai, the banking sector witnessed robust growth by the end of 2023, with assets and investments surging past the 2 trillion dirha …
UBF CEOs Advisory Council meeting discusses 2024 initiatives to develop banking sector
The Council reviewed the Federation’s efforts to improve banking operations and the initiatives to consolidate the UAE’s position as a global financial and banking hub, which are being implemented …