Luxury home prices in Dubai surged 44 per cent in 2021, driven by higher demand from wealthy buyers as the emirate’s property market continues to rebound from the coronavirus-induced slowdown on the …
( read original story …)
UAE Cabinet adopts policies to protect labour rights, spur Emiratisation in the private sector
The UAE Cabinet approved a policy to support Emiratisation goals and plans of private sector companies, providing additional incentives for companies supporting Emiratisation, and consolidating the …
( read original story …)
UAE Cabinet adopts policies to protect labour rights, spur Emiratisation
The UAE Cabinet approved a policy to support Emiratisation goals and plans of private sector companies, providing additional incentives for companies supporting Emiratisation, and consolidating the …
( read original story …)
Top UAE banks set to see profitability return to pre-pandemic levels
Growth in net interest income will drive profitability to pre-pandemic levels at the largest UAE banks in the next 12-18 months, according to a report by Moody’s Investors Service. The growth in net …
( read original story …)
UAE – FAB shareholders approve dividends of AED7.64 bn for 2021
Owners of FAB shares registered on Thursday 10 March, 2022 (i.e. buyers on 08 March, 2022) are entitled to the dividends. All items on the agenda were discussed and approved, including FAB’s financial …
( read original story …)
ADIB Banking Academy Empowers UAE National Talent Through Specialised Leadership Programmes ‘Tamkeen and Qiyadat’
Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, announced the launch of its flagship leadership training programmes Tamkeen and …
( read original story …)
Salik Road-Toll System Lines Up BofA, Emirates NBD, Goldman for Dubai IPO
Dubai’s road-toll collection system has picked Bank of America Corp., Emirates NBD Bank PJSC and Goldman Sachs Group Inc. to arrange its local stock exchange listing, according to people familiar with …
( read original story …)
Dubai’s RTA hires investment banks for road-toll Salik IPO – sources
Dubai’s Roads And Transport Authority (RTA) has picked banks to arrange the listing of road-toll operator Salik, two sources told Reuters. DUBAI, Feb 28 (Reuters) – Dubai’s Roads And Transport …
( read original story …)
Sanjay Shah: Denmark wins UK court appeal over Dubai trader’s alleged tax fraud
Denmark’s tax authority has won its appeal in the UK courts over an alleged £1.5 billion ($2 billion) fraud by Dubai hedge fund trader Sanjay Shah and scores of others. London’s High Court had …
( read original story …)
Rates hike, business rebound set to drive UAE banks’ profitability
According to S&P Global Ratings, the top 10 banks in the UAE are likely to have an increase of 15 per cent of their net income or an additional 1.4 percentage …
( read original story …)
UPDATE 1-UAE bank’s bid for Egypt’s ‘national champion’ EFG may be too low
The United Arab Emirates’ biggest lender may have to raise its bid to take a controlling stake in Egypt’s top investment bank EFG Hermes given the latter’s outsized influence over Egypt’s financial …
( read original story …)
UAE banks to return to ‘pre-pandemic’ profitability in 12-18 months, Moody’s says
Banks in the UAE will return to pre-pandemic levels of profitability in the next 12-18 months on the back of stronger net interest income and increasing business momentum, as the economy rebounds from …
( read original story …)
UAE bank’s bid for Egypt’s ‘national champion’ EFG may be too low
DUBAI — The United Arab Emirates’ biggest lender may have to raise its bid to take a controlling stake in Egypt’s top investment bank EFG Hermes given the latter’s outsized influence over Egypt’s …
( read original story …)
Good news for UAE expats: Best time to remit as Indian, Pakistani rupee to come under more pressure this week
This is why analysts note that the uncertainty related to the current account and the geopolitical tension will exert pressure on the rupee in the coming week. The crisis had brou …
( read original story …)
Brookfield to buy 60% of First Abu Dhabi Bank’s payment subsidiary
First Abu Dhabi Bank, the UAE’s largest lender by assets, signed an agreement to sell 60 per cent stake in its payments business Magnati to New York-listed Brookfield Business Partners, valuing the …
( read original story …)
Saudi’s Crown Prince and UAE president’s advisor call for stability as Russia-Ukraine war continues
Dr Anwar Gargash, diplomatic adviser to the UAE President Sheikh Khalifa bin Zayed Al Nahyan … excluding Russian lenders from the SWIFT bank messaging system targeting the central bank’s foreign …
( read original story …)
Abu Dhabi mega-bank FAB sells 60% in payments firm Magnati to Brookfield
The First Abu Dhabi Bank has sold a 60 per cent stake in its payments processing business Magnati, selling it to Brookfield Business Partners and its institutional partners. The transaction provides …
( read original story …)