The two companies signed an agreement to supply District Cooling services to the DP World-owned project with a capacity of more than 63,000 RT Empower to invest $122.5mn to cool Dubai Maritime City …
UAE: HDFC Bank, Lulu Exchange to boost cross-border payments
The partnership will also look to strengthen the existing relationship between the two entities in India, where LuLu Financial Group operates LuLu Forex and the NBFC division LuLu Finserv …
HDFC Bank, Lulu Exchange to facilitate cross-border payments between India and GCC region
In the first phase, the partnership will launch a digital inward remittance service—RemitNow2India—allowing UAE residents to send money to any bank account in India.
‘Revolution’ in UAE: Digital payments across key sectors on rise as cash usage declines 20%
Nearly half of Gen Z in the Emirates use mobile wallets for daily payments, compared to 48% in Saudi Arabia, and 43% in Egypt …
Dubai-listed Empower to invest $122.5mln in DMC cooling services
Dubai-listed district cooling company Empower will invest AED 450 million ($122.5 million) to supply services to Dubai Maritime City (DMC). The company revealed in a statement to Dubai Financial …
Saudi Arabia to deposit $1 billion in Yemen’s central bank
Saudi Arabia will make a $1 billion deposit in Yemen’s Aden-based central bank on Tuesday, Saudi Arabia’s state news agency SPA said, as the government there struggles with a weak currency and high …
Dh5,000 fine: Man jumps into Dubai Water Canal under influence of drugs; penalised
A 34-year-old Gulf national has been rescued by the Marine Rescue Patrol after he jumped into the Dubai Water Canal. When he was taken to the hospital for treatment, he was found to be under influence …
Saudi Arabia deposits $1 billion into Yemen’s central bank
In a brief statement, the state-run Saudi Press Agency said the $1 billion deposited into the Aden-based central bank will help the Riyadh-backed administration implement economic reforms. Yemen’s …
UAE introduces new financing solutions for defense industries
UAE-based SMEs in the industrial sector will soon be able to access new financing solutions and enablers following a memorandum of understanding (MoU) signed at IDEX and NAVDEX 2023.The MoU between …
HDFC Bank, Lulu Exchange partner to boost cross-border payments between India and Middle East
MOU signed to enable remittances to India through HDFC’s online and mobile banking, powered by LuLu Exchange; The partnership will first launch ‘RemitNow2India’ service for quick money transfer from U …
Majority of UAE chief executives upbeat about outlook over next five years, survey finds
The country’s economy, the second largest in the Arab world, is estimated to have grown by 7.6 per cent last year, the highest in 11 years, after expanding by 3.9 per cent in 2021, the UAE Central …
How long is the lease for commercial properties in Dubai?
Can a foreign company buy commercial property in mainland Dubai? We plan to open a branch of our business and are looking for office space for 50 staff. It..
Abu Dhabi Islamic Bank saves 5mln sheets of paper in 2022
As part of ADIB’s 2025 growth strategy, Al Ghaf Programme underlines the bank’s commitment to pioneer climate action in Islamic banking, optimising banking operations, and enhancing customer experienc …
Will UAE buyers get longer no-instalment periods, lower fees on car-finance? Dealerships hope so
Major dealers in talks with banks to ease buyers’ burden as interest rates cross 5% Car finance rates too have zoomed up the charts through these 12 months – and buyers could do with some helping out …
Will My UAE Gratuity Cover Retirement Expenses In My Home Country?
What are the best savings schemes in the UAE? Should I invest in stocks here? Is it better to invest in mutual funds and FDs in my home cou …
Abu Dhabi Global Market, Zand Bank join hands to support SMEs
ADGM and Zand Bank will work together to drive UAE national work placements and offer SME financing platform and a fintech sandbox …
Dubai International Finance Centre Grows at Record-Breaking Pace in 2022
Dubai International Financial Centre (DIFC), the Middle East, Africa and South Asia region’s leading global financial centre, continued to grow at record-breaking pace in 2022.