It jumped to as high as 39 per cent to Dh2.92 during the day before settling down at Dh2.84, up Dh0.74 a share …
UAE Central Bank upholds base interest rate amidst interest rate variation from US Federal Reserve
The Central Bank of the United Arab Emirates (UAE) has opted to maintain the base rate for overnight deposit facilities at its current level of 5.4 …
Dubai: Parkin shares jump over 30% on trading debut on DFM
The Dubai government-backed company was the first to launch an initial public offering (IPO) in the UAE this year, raising Dh1.6 billion …
Currency manager: Central Bank of the UAE
The UAE’s new polymer banknotes are printed in the UAE by Oumolat Security Printing, using De La Rue’s Safeguard polymer substrate, with the design managed by Crane Currency.
Dubai-listed Amanat Holdings names new CEO
Dubai-listed Amanat Holdings has appointed John Ireland as its new CEO, effectively immediately, according to a disclosure on the Dubai Financial Market (DFM) on Wednesday. Ireland has been serving as …
No surprises as UAE central bank leaves rates at 5.40%
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 …