made its debut on the Dubai bourse in 2022 after raising AED 1.7 billion ($462 million) in an initial public offering (IPO). The company reported AED 1.078 billion in net profit for 2023, up by 49% …
Dubai: How to recover money lost to online scams and fraudulent transactions
A Dubai-based legal and financial expert, who has been helping residents recover money from online scams and debt traps, had fallen victim himself to a fraudulent transaction. But he was able to …
UAE ranks world’s fourth largest Islamic finance market
The CBUAE said in its UAE Islamic Finance Report 2023 that the Islamic finance sector grew by 11 percent in 2022 …
Dubai’s economy would grow by around 5% this year: Al Ghurair
Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, predicted that Dubai’s economy would grow by around 5 percent this year. He mentioned that Dubai benefits from robust infrastructure, an …
Australia eyes UAE’s billions for critical minerals investments in trade talks
Trade Minister Don Farrell is optimistic short, sharp negotiations for a deal with the United Arab Emirates will unlock billions of dollars of investment in Australia’s critical minerals sector.
UAE economic growth expected to be over 5.5% in 2024: Saxo Bank
Damian Hitchen, CEO of Saxo Bank in the MENA region, believes that the UAE economy will continue to grow in 2024. This growth is expected to be over 5.5 percent, mainly due to investments in …
DEWA announces offer price range and start of subscription period for IPO
The IPO subscription period starts today and runs until 2nd April 2022 for the UAE Retail Offering and 5th April 2022 for the Qualified Investor Offering. The final offer price will be determined …
Dubai Property Frenzy Sees Buyers Queue for Million-Dollar Homes
Hundreds of buyers queued overnight outside a Dubai-based developer’s office for a chance to snap up luxury waterfront homes, in the latest sign of the frenzy gripping one of the world’s hottest …
AHR Group strengthens UAE Wealth Management team with two key appointments
Dubai: AHR Group, the Dubai-based specialist provider of financial, tax and estate planning services for expatriates, announced today that it has made two key hires to boost its private wealth …
Dubai Islamic Bank Discontinues ‘Salary in Advance’ Service
Dubai Islamic Bank (DIB), the UAE’s largest Shariah-compliant lender, has stopped its widely-used ‘salary in advance’ service for customers. The decision was made following the bank’s comprehensive …
How a Wall Street minnow earned the trust of the Middle East
The boutique moved a senior equity capital markets banker to Dubai from Hong Kong in late 2022 to capture a bigger slice of the IPO boom. Advisory specialists from Lazard to Jefferies Financial Group …
Dubai reaches financial close for $1.5bn solar project
Masdar will develop the 1,800MW sixth phase of Mohammed bin Rashid Solar Park State utility Dubai Electricity & Water Authority (Dewa) and Abu Dhabi Future Energy Company (Masdar) have reached …
Dewa and Masdar reach financial closing on 1,800MW 6th phase of world’s biggest solar park
Dubai Electricity and Water Authority (Dewa) and Abu Dhabi Future Energy Company (Masdar), announced the financial closing of the 1800-megawatt sixth phase of the Mohammed bin Rashid Al Maktoum Solar …
Trade and supply chain finance key catalysts of business growth
Emirates Development Bank (EDB), the key financial engine of economic development and industrial advancement in the UAE, underscored its pivotal role in fostering sustainable, self-reliant economic gr …
UAE participates in Global Partnership for Financial Inclusion meeting under India G20 Presidency
The UAE recently participated in the Global Partnership for Financial Inclusion (GPFI) meeting in the Finance Track of the G20 for 2023, w …
Emirates Development Bank Highlights Trade and Supply Chain Finance Solutions at GTR MENA 2024
During the event, EDB highlighted its cutting-edge supply chain finance and trade finance solutions designed to support UAE companies and bolster their growth. With over 900 market leaders and a …
Decisive Zone Bankers: Your gateway to hassle-free banking in the UAE
The challenge of setting up a bank account in the UAE, with its stringent requirements and often complex regulations, can be a significant hurdle. This is ..