For the first time since a 2009 financial crisis nearly brought Dubai to its knees, several major abandoned real estate projects now show signs of life DUBAI, United Arab Emirates — Fourteen years …
UAE central bank to issue CBDC as part of its financial transformation program
The issuance of a CBDC aims to address inefficiencies in cross-border payments and drive innovation for domestic payments. The Central Bank of the United Arab Emirates (CBUAE) is planning to launch a …
Central Bank of UAE launches Financial Infrastructure Transformation Programme
The Central Bank of the UAE has launched the Financial Infrastructure Transformation Programme (FIT programme) to expedite digital transformation across the country’s financial services sector. The …
Emirates NBD Bank readies Kangaroo bond sale
Gulf banking giant Emirates NBD has mandated four banks to round up investors for a new 10-year Kangaroo note, after running a set of informal meetings with local bond managers just before Christmas …
Dubai Ruler meets with finance ministers, central bank governors participating in Arab Fiscal Forum
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, today met with Arab ministers, governo..
UAE Central Bank launches programme to boost digital transformation in financial services
The Financial Infrastructure Transformation Programme also includes a domestic card scheme, an instant payments platform, financial cloud and supervisory technology, the Central Bank said in a …
UAE Central Bank unveils sweeping initiatives to reform financial services sector
Image Credit: WAM The UAE Central Bank launched a new programme to accelerate digital transformation of the financial services sector, it said on Sunday. The Financial Infrastructure Transformation …
UAE Central Bank launches digital transformation programme
ABU DHABI – In line with the vision of H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Presidential Court, and Chairman of the Central Bank of the UAE’s (CBUAE) …
Oman oil-drilling IPO draws Saudi wealth fund as anchor investor
Anchor investors will subscribe for 40% of the shares at the maximum price Dubai: Oman’s OQ SAOC plans to raise as … Abraj Energy will be Oman’s largest IPO since 2010, when telecom operator Nawras, …
Abu Dhabi Exports Office signs $121m in green finance deals with Angola
The Abu Dhabi Exports Office (Adex), the export-financing arm of the Abu Dhabi Fund for Development, has signed two green finance agreements with the government of Angola to support the country’s IT …
UAE: Tecom Group FY 2022 revenues up 12% to $544.5mln
The Group attributed the results due to strong demand for its commercial and industrial properties Tecom Group PJSC, the creator of specialised business districts and communities, on Friday announced …
UAE’s biggest bank says no takeover offer for global bank Standard Chartered
First Abu Dhabi Bank acknowledged recent press speculation and confirmed it is not evaluating a possible offer for the London-listed banking giant.
Dubai’s TECOM posts Q4 net profit of $24mln; misses estimate
Dubai business park operator TECOM Group, which raised $463 million in an IPO last year, reported a Q4 2022 net profit of 87 million dirhams ($24 million) on robust demand for its commercial and …
Dubai’s Tecom profits surge 28% amid strong economic expansion
Profit for the 12-month period to the end of December climbed to about Dh726million ($198 million) from a year earlier, Tecom said in a statement on Friday to the Dubai Financial Market, where its …
TECOM Group FY 2022 revenues up 12% to AED 2bln
Malek Al Malek, Chairman of TECOM Group, said: “Since our successful IPO in July 2022, TECOM Group continued to … surpassing expectations at the time of our listing, has benefitted from Dubai’s …
First Abu Dhabi Bank says not currently evaluating offer for Standard Chartered
First Abu Dhabi Bank (FAB), the United Arab Emirates’ biggest lender, said on Friday it was not currently evaluating an offer for Britain’s Standard Chartered. News of the potential offer first came …
Adnoc Natural Gas, LNG IPO Seen as ‘Highly Feasible’ Amid Broader Expansion Plans
Abu Dhabi National Oil Co. (Adnoc) is advancing plans to launch an initial public offering (IPO) that would combine the United Arab Emirates’ (UAE) …