For those in Dubai, cheque books offer a “comfort zone,” Anisha Sagar, Director of Property Management at real estate agency Allsopp & Allsopp said adding that the preference to pay by credit card, by …
Top 10 UAE banks record 5.6% rise in quarterly profit on lower impairment charges
The aggregate net profit of the UAE’s 10 largest banks increased by 5.6 per cent on a quarterly basis in the third quarter, boosted by lower impairment charges and a steady increase in net interest …
Dubai’s investment arm ICD posts $7.7bln net profit on tourism boom, high interest rates
The company reported on Thursday a net profit of 28.3 billion dirhams ($7.7 billion), up by 91% from a year earlier. The record earnings were propped up by strong revenues in key business segments …
Dubai Financial Market launches pilot for carbon credits trading
This move positions the financial market at the forefront of climate action as a regulated platform where project capital raising, carbon credit trading and safekeeping are explored in support of the …
UAE tightens scrutiny on Russian firms; ‘We spit on your sanctions,’ Russian propagandist tells EU
UK and European Union have ramped up pressure on Emirati officials to tackle illicit flows and close channels used by Moscow to skirt trade sanctions and finance the Kremlin’s war machine. This month, …
Top UAE Banks Set Positive Trends In Profitability
Driven by an upswing in non-interest income and reduced impairment charges, the UAE banking sector has been setting positive trends in profitability …
Big-name hedge funds like Millennium and ExodusPoint are building out in Dubai and other Middle East cities. Those on the ground explain why.
Recruiters say firms are loading up on talent in the region and one manager explains why its an attractive place to be.
Digital Assets: GC Exchange Secures Virtual Asset Service Provider License in Dubai
The new license enables GCEX to operate as a Virtual Asset Service Provider (VASP) in Dubai, offering services to brokers, hedge funds, family offices, and professional traders, with access to deep …
UAE’s Pure Health acquires Dubai IT firm PureCS amid IPO preparations
Pure Health, the UAE’s largest healthcare group, has acquired Dubai-based IT services provider PureCS as it boosts its portfolio amid preparations for an initial public offering in Abu Dhabi next …
UAE Tightens Scrutiny on Russian Firms Amid Pressure From US
with firms finding banking quick and easy to navigate. That process has gradually grown more arduous, with rejections increasingly common, because the UAE is showing less appetite for …
UAE’s $90 Billion Federal Wealth Fund Names Al Mehairi CEO
The fund also holds a stake in Du, which is the UAE’s other telecoms firm. In recent years, the fund has invested in a string of local listings including in the landmark IPO of Dubai’s main utility.
Dubai Financial Market launches pilot for carbon credits trading at COP28
Each carbon credit symbolizes a tangible reduction in carbon emissions, with one credit offsetting one ton of CO2 equivalent emissions …
The messier the world gets, the more the UAE seems to thrive
In a time of war and economic fragmentation, the UAE seems to be a port in a storm. Multinationals are setting up factories and offices at a rate not previously seen in the UAE’ s five decades of …
Global investor sets sights on UAE as the destination for future tech, opens family office in Abu Dhabi
Christian Angermayer’s Apeiron Investment Group poised to make positive contribution to UAE’s economic and social development …
COP28 UAE: With a week to go, here are the six top climate issues that demand attention
Hosted by Dubai and launching in a week, COP28 is being touted as the most important climate summit yet. The world will be held accountable when COP28 kicks off a week from today, bringing together …
Emirates’ owner Investment Corporation of Dubai nets Dh28.3 billion profit in first six months of 2023
Banking assets contributed to an overall 6.5 per cent increase in assets and the group’s equity share increased to Dh225.7 billion – a hike of 4.2 per cent. Mohammed Ibrahim Al Shaibani, Managing …
Alvarez & Marsal UAE banking sector pulse reveals strong profitability in Q3 2023
Top lenders reported improved profitability due to a steady increase in the total operating income (+15.4 percent QoQ) and a decline in impairment charges (-11.7 percent QoQ) …