India and the United Arab Emirates will jointly conduct pilot programs on central bank digital currencies, or CBDCs, according to an announcement on Wednesday. The Reserve Bank of India and the …
DIFC-Chaired Dubai Sustainable Finance Working Group Defines UAE Industry Approaches to Delivering ESG Innovation, Net Zero and Sustainability-Linked Lending
The Dubai Sustainable Finance Working Group (DSFWG), established in 2019 by Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia …
Al Maryah Community Bank wins the Digital Bank of the Year E-business Award for 2023
Al Maryah Community Bank stood out from the competition through its quest to digitize the entire banking experience by developing the Mbank UAE mobile application that has exceled in serving customers …
Dubai’s Tecom to distribute $54m cash dividend for second half of 2022
Tecom Group, the operator of business districts in Dubai that are home to more than 9,500 companies, has approved a cash dividend of Dh200 million ($54.46 million) for the second half of 2022 after …
Dubai: Lindsay Lohan, Husband Announce Pregnancy
Lindsay Lohan, of ‘Mean Girls’ fame, today took to Instagram to announce that she is expecting her first child with husband Bader Shammas. The star posted a picture of a baby’s onesie which have the …
Gibson Dunn, Allen & Overy Lead on $2.5B Abu Dhabi IPO
The past 36 months have seen a booming IPO market in the Gulf Cooperation Council, with the UAE and Saudi governments cashing in and spreading wealth. In 2022, the UAE took the lion’s share, with …
$80,000 Money Scam? Look for These Major Financial Red Flags Before Depositing Your Next Check
When Joe Schulz*, a small-business owner based in New Jersey, received a new customer order from a company based in Dubai, he felt that something may be off. It turned out his instincts were right, …
Amlak Finance annual profit drops 55% to Dh476 million in 2022
Amlak Finance on Tuesday said its annual net profit dropped 55 per cent to Dh476 million last year from Dh1.06 billion in 2021 as the company focused on prudently managing its UAE operations and …
Dubai and Abu Dhabi among the most desirable cities in the world to live
In addition, Dubai is one of the fastest growing cities in the world, and over the years it has succeeded in diversifying its economy significantly by investing in sectors such as tourism, technology, …
UAE raises $300m from dual-tranche treasury bond sale
The UAE Central Bank acted as issuing agent for the dual-tranche Treasury bond transaction. Pawan Singh / The National . The UAE has …
SVB, Signature Bank collapse: Will it affect startups in the UAE?
The abrupt and unexpected collapse of Silicon Valley Bank (SVB) and Signature Bank in the US has sent shockwaves through global markets. However, its impact on the UAE is minimal, experts have said.
Mashreq Bank provides $15.5 billion of sustainable finance and adaptation-related investments
Joel Van Dusen, Group Head of Corporate & Investment Banking at Mashreq, said that since January 2021, Mashreq has facilitated $15.5 billion of sustainable finance and adaptation-related …
Global Surfaces IPO subscribed 68% so far on Day 2; GMP falls
Global Surfaces, which is into processing natural stones and manufacturing engineered quartz, has collected Rs 46 crore from anchor investors and set a price band of Rs 133-140 per share. At the upper …
Most Middle Eastern stock markets in red as bank worries spread
Most stock markets in the Middle East ended lower on Sunday, with the Egyptian bourse leading the declines, in response to Friday’s fall in global shares over fears of contagion following the collapse …
Global Surfaces IPO Receives 42% Subscription On Day 1
The initial share sale of Global Surfaces Ltd got subscribed 42 per cent on the first day of subscription on Monday. The initial public offering (IPO) received bids for 32.75 lakh shares against 77.49 …
‘Russia outside Russia’: For elite, Dubai becomes a wartime harbour
A year into a historic onslaught of economic sanctions against Russia over its invasion of Ukraine, Russia’s rich are still rich. And in Dubai, the United Arab Emirates’ biggest city, they have found …
World Bank official praises UAE’s leading position in gender balance
Iva Hamel, the World Bank Representative in the UAE, has praised the UAE for being the most progressive country in the Middle East and North Africa in terms of women’s empowerment. She commended the …