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.
Dubai Posts Strongest Real Estate Numbers Amongst Global Prime Markets
Dubai recorded over 9,800 real estate transactions, an increase of 128.5% compared to January of the previous year. The total value of transactions was AED 28 billion ($7.6billion), which was an …
Dubai records over AED1.9 bn in realty transactions Monday
Dubai real estate market recorded 561 sales transactions worth AED1.7 billion, in addition to 100 mortgage deals of AED94.43 million, and 61 gift deals amounting to AED65.91 million on Monday, data …
UAE Banks Federation signs MoU with Azerbaijan Banks Association
UAE Banks Federation (UBF), the representative and unified voice of banks in the UAE signed a Memorandum of Understanding (MoU) with the Azerbaijan Banks Association, the umbrella organisation of …
ADGM teams up with UAE digital lender Zand Bank to support SMEs
Abu Dhabi Global Market (ADGM), the UAE capital’s financial hub, has partnered with Zand Bank, the digital lender licensed by the UAE Central Bank, to support small and medium enterprises in the …
ADNOC plans to raise $2 billion or more by IPO
The United Arab Emirates’ national oil company ADNOC plans to raise $2 billion or more by listing its natural gas business in what could the largest initial public offering so far this year. The …
ADNOC Gas will be UAE’s first IPO of 2023, dividend set at a substantial $3.25b
Image Credit: Shutterstock Dubai: UAE’s first IPO of the year has been announced, with ADNOC Gas set to offer more than 3 billion of its shares and list on Abu Dhabi Securities Exchange (ADX).
UAE’s UBF, Azerbaijan Banks Association sign MoU to boost sectoral cooperation
The UAE Banks Federation (UBF) has signed an MoU with the Azerbaijan Banks Association (ABA) to enhance cooperation and exchange of experiences, and promote the growth of the financial and banking …
Gulf bourses mixed as Saudi stocks fall, Dubai gains
Saudi Arabia’s stock market was the worst performer among Gulf bourses that were mixed on Monday amid worries of rate hikes by the U.S. Federal Reserve.
Dubai in Talks to Attract 50 Hedge Funds to Mideast Finance Hub
Dubai’s financial center is in talks with more than 50 hedge funds about setting up in the Middle East business hub after attracting industry heavyweights such as Millennium Management and ExodusPoint …
Dubai fintech growth takes DIFC to record AED1bn year
Dubai International Financial Centre has introduced more than 1,000 new companies and saw revenues of of over AED1bn for first time Dubai fintech growth takes DIFC to record AED1bn year DIFC, DIFC …
Al Maryah Community Bank opens its Smart Banking Hub in ADNOC Abu Dhabi
Al Maryah Community Bank, UAE’s first fully integrated Digital Bank offers an omnichannel experience to individual consumers and small businesses …
Mashreq brings social dimension to banking with launch of Neo Groups
Mashreq, one of the leading financial institutions in the Middle East and Africa region, has introduced Neo Groups, …
Dubai DIFC’s 2022 revenue tops $272mln for first time
The number of active companies in the financial freezone is now 4,377, up 20% year-on-year, a Dubai Media Office statement said on Monday. In 2022, DIFC’s combined revenue grew 18% to over AED 1 …
UAE’s defence conglomerate Edge presents 11 new autonomous products at Idex 2023
Defence conglomerate Edge revealed a line-up of 11 new unmanned and autonomous products and systems during the opening day of the International Defence Exhibition and Conference (Idex 2023), in line …
Global consultancy Synpulse’s new Dubai office to serve as Middle East hub
Global financial services consultancy Synpulse has opened its office in Dubai to provide onshore support to its growing number of clients and serve as a hub for the Middle East. Dubai’s goal to become …
HNWIs inflow to help boost UAE financial wealth to $1trln by 2026
UAE has emerged as an attractive destination for HNWIs following its successful strategy against the Covid-19 pandemic, latest data shows …