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 …
Three Arrows Capital Co-Founder Kyle Davies: No Pending Lawsuits or Regulatory Action
Kyle Davies, co-founder of defunct hedge fund Three Arrows Capital, claimed he has no pending lawsuits or regulatory action against him at the current time. Three Arrows Capital met its demise as the …
UAE enhancing leading position in gender balance: World Bank
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 …
UAE’s ADNOC Gas shares surge 19% in $2.5bn IPO
Shares in the United Arab Emirates’ ADNOC Gas rose 19 percent in their first day of trading on Monday in a $2.5 billion initial public offering that aims to tap into growing demand for the fuel.- …
G42 plans to raise $495m from Presight IPO
G42 unit plans to sell 1.36 billion shares representing 24.24 per cent of its share capital at Dh1.34 a share, valuing the company at Dh7.51 billion …
UAE Reportedly Halts Purchase of Missile System from Israeli Regime amid Political Turmoil
The United Arab Emirates (UAE) has reportedly halted the purchase of an advanced surface-to-air missile system from Israel.
Most Gulf markets in red as banking fears rattle markets
Most stock markets in the Gulf ended lower on Monday, extending losses from the previous session as the collapse of Silicon Valley Bank raised fears of a fresh financial crisis.