The Top Industries in the Middle East and North Africa 2023 survey by Bayt.com, the Middle East’s #1 job site, and market research agency YouGov, was co …
The best ways to blow the UAE’s award-winning Dhs1,000 note in Dubai
At the start of the year, a new Dhs1,000 bank note started circulating in the UAE. The new note is made of polymer and boasts special security features which led to it bagging the Best New Banknote …
Global Surfaces IPO opens for subscription, GMP rises; should you apply?
Global Edge’s IPO seeks to raise up to Rs 154.98 crore in an issue comprising an offer-for-sale, as well as fresh issuance of shares. Should you subscribe to the issue?
Global Surfaces IPO opens today: GMP, subscription status, all details here
The initial public offer (IPO) of Global Surfaces will open for subscription today, March 13. The company processes natural stones and manufactures engineered quartz. The company has two manufacturing …
Dubai property developers set to be cash flow positive in 2023 for fourth consecutive year
Dubai’s property developers are set to record positive cash flow in 2023 for the fourth consecutive year on the back of healthy pre-sales and favourable payment terms, despite global macroeconomic …
UAE: Tenant ordered to pay over Dh160,000 for occupying apartment for 4 years without paying rent
The real estate firm said it incurred financial losses during the period the man seized the apartment, for which the annual rent was Dh45,000 …
UAE: Man ordered to return Dh71,000 borrowed for struggling business to sister
An Abu Dhabi resident has been instructed to pay back Dh71,000 he borrowed from his sister for his struggling business. The woman had filed a lawsuit against her brother before the Abu Dhabi Court for …
UAE won’t buy Israeli defense systems until Netanyahu ‘controls’ gov’t
The UAE will stop purchasing Israeli defense systems as a result of actions and comments made by National Security Minister Itamar Ben-Gvir and Finance Minister Bezalel Smotrich, according to an N12 …
Powerful UAE Royal’s Firm Mulls Takeover of SVB’s UK Unit
Royal Group, an investment firm controlled by a top Abu Dhabi royal, is considering a possible takeover of the UK arm of Silicon Valley Bank following its collapse last week, according to people …
Brisk presales spur ‘plentiful cash flow” for Dubai developers
Analysts at S&P Global Ratings argue that given the high number of new property launches in 2021-22, which they expect to continue in 2023, and assuming a three- to five-year lead time, working capita …
Watch: Al Ansari Financial Services is Dubai’s first IPO for 2023, floating 10% and promises Dh600m dividend
Dubai entity is one of the biggest names in UAE’s remittance space With the IPO announcement, Al Ansari Financial Services will be joining a growing base of privately owned enterprises that are …
Dubai: Employee jailed for forging boss’s signature, withdrawing Dh940,000 from bank account
When he went to the bank to inquire about the two withdrawals, he learned that the convict stole two checks from his office, forged the manager’s signature, and stole the amount before leaving the …
UAE: Bank savings above Dh20 million make up 59% of deposits in 2022
Large deposits — greater than Dh20 million — made up nearly 60 per cent of deposits in UAE banks until the end of 2022, data from the country’s Central Ban..
CORRECTED-Dubai’s DIFC has about 60 hedge fund firms waiting to be licensed – governor
The Dubai International Financial Centre (DIFC) has about 60 hedge fund firms, with north of a trillion dollars in assets under management, waiting to be licensed, the governor of the emirate’s …
Silicon Valley Bank shut down is biggest lender failure since 2008 crisis
Silicon Valley Bank, the 16th largest bank in America, has been shut down by UA regulators. It is the biggest collapse of a major financial institution since the global financial crisis of 2008.
AED1.31 trillion in deposits of ‘above AED20 mn’ in UAE banks until December 2022
Large deposits (greater than AED20 million) made up 59% the total deposits held by the banks based in the UAE that totalled AED2.222 trillion until the end of 2022, data from the Central Bank of the …
Global Surfaces Sets IPO Price Band At Rs 133-140 Per Share
Global Surfaces Ltd, which is into processing natural stones and manufacturing engineered quartz, on Friday said it has set a price band of Rs 133-140 a share for its Initial Public Offering (IPO) …