The ‘remarkable’ growth was hailed by MoHRE, who predict that the trend is expected to continue for the rest of the year …
Dubai waives Dh146m in housing loan repayments for low-income citizens
Dubai will waive Dh146 million in outstanding housing loan repayments for 426 low-income citizens. Sheikh Hamdan bin Mohammed, Crown Prince of Dubai, said the gesture was made in an effort to boost …
Dubai Islamic Bank’s profit jumps 11% on strong fee income
Dubai Islamic Bank, the UAE’s biggest Sharia-compliant lender by assets, reported an 11 per cent increase in its first-quarter profit on higher fee income. Net profit attributable to owners of the …
Dubai announces global ‘House of the Future’ competition
Total prizes of AED1 million being offered for an affordable, expandable and innovative house that meets modern Emirati needs Dubai announces global ‘House of the Future’ competition Architecture, …
UAE Corporate tax: Small Business Relief scheme to support start-ups
The UAE Ministry of Finance has recently issued Ministerial Decision No. 73 of 2023 on Small Business Relief for the purposes of the UAE Corporate Tax Law. The relief is designed to support start-ups …
Dubai Islamic Bank First Quarter 2023 Group Financial Results
Dubai Islamic Bank (DFM: DIB), the largest Islamic bank in the UAE, today announced its results for the period ending March 31, 2023.
UAE Banks Witness 8.5 percent Increase in Total Capital, Reserves
According to the Central Bank of UAE’s monthly report on monetary, banking, and financial developments, UAE banks witnessed an 8.5 percent increase i …
Dubai Islamic Bank posts 12% rise in Q1 profit, beats estimate
Dubai Islamic Bank, the UAE’s largest Islamic lender, posted a 12% jump year-on-year (YoY) in its Q1 2023 net profit to 1.5 billion dirhams ($408 million), driven by higher revenues and lower …
UAE: International bank appoints first Emirati woman CEO
She joined the bank as a graduate in 2004 and has since worked across many geographies including Dublin, London, and Sao Paulo, before being appointed as senior business and relationship manager for …
UAE: Eid Al-Fitr holiday in financial markets from 29 Ramadan to 3 Shawwal
The Securities and Commodities Authority announced that the Eid Al-Fitr holiday for both the Abu Dhabi Securities Exchange and the Dubai Financial Market will start on the day after tomorrow, Thursday …
UAE Minister for Financial Affairs Forecasts Fall in Inflation, Positive Economic Growth
The UAE’s Minister for Financial Affairs, Mohamed Hadi Al Hussaini, has forecasted a fall in inflation to 3.2 percent by the end of 2023, down from 4 …
Industry leaders gather for Hedge Funds World Conference in Dubai
Chief Investment Officer of isthimar (Dubai). Antoine Massad, Chief Executive of Man Investments Middle East Limited who is once again chairing the event said, “The hedge fund industry has made …
Aggregate capital and reserves of banks operating in the UAE up 8.5% in January: CBUAE
Aggregate capital and reserves of banks operating in the UAE increased by 8.5% (y-o-y) to AED 438.6 billion at the end of January 2023 from AED 404.3 billion at the end of January 2022, according to …
UPDATE 1-UAE bank ADCB reports record profit in Q1, up 27%
Abu Dhabi Commercial Bank , the UAE’s third-biggest lender, reported a 27% rise in first-quarter net profit, boosted by higher net interest and non-interest income. The bank reported a record net …
Dubai logs over AED1.8bn in realty transactions Monday
Dubai’s real estate market recorded 496 sales transactions worth AED1.67 billion on Monday, in addition to 107 mortgage deals totalling AED169.05 million, and 13 gift deals amounting to AED32.08 …
Dubai FinTech Summit Dialogues examine financial sector challenges
Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, hosted the second Dubai FinTech Summit (DFS) Dialogues …
Aggregate capital and reserves of banks operating in UAE up 8.5% to AED 438.6 bn at end of January 2023: CBUAE
Aggregate capital and reserves of banks operating in the UAE increased by 8.5% (y-o-y) to AED 438.6 billion at the end of January 2023 from AED 404.3 billion at the end of January 2022, according to …