United Arab Emirates-based digital bank YAP said on Monday it had raised $41 million and plans to expand into Saudi Arabia through a partnership with a traditional bank in the kingdom.
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UAE: 7 ways to protect your money during inflation, tide over the looming financial crisis
Sustained high inflation also harms your family’s financial future. Healthcare and higher education costs typically rise much more than general inflation. Thus, you need to save more for them. High …
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UAE’s TECOM Group garners over $462mln through IPO
TECOM Group, a subsidiary of the state-owned Dubai Holding Group, has announced that it raised AED 1.7 billion through its initial public offering (IPO) on the Dubai Financial Market (DFM), Reuters …
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UAE, Indonesia pact could see trade rise from $3 billion to $10 billion within five years
The economic partnership is tailored to drive trade across healthcare, transportation, education, telecommunications, construction and Islamic finance UAE, Indonesia pact could see trade rise from $3 …
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Lack of investor education threatens future of SPACs in the UAE, experts say
The rise of IPOs in the UAE, however, is driving the local equity markets to gain international standing Lack of investor education threatens future of SPACs in the UAE, experts say Abu Dhabi …
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UAE Inks Economic Pact to Boost Trade With Indonesia
The United Arab Emirates signed a wide-ranging economic pact with Indonesia which will eliminate tariffs and boost bilateral trade. Most Read from BloombergUS Will Face High Gas Prices ‘as Long as It …
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Hedge Fund Millennium Taps UBS’s Cooper in Dubai Expansion
Sign up for our Middle East newsletter and follow us @middleeast for news on the region.Most Read from BloombergUS Will Face High Gas Prices ‘as Long as It Takes,’ Biden SaysStock Doomsayers Vindicate …
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UAE’s new digital bank sets up Board, with Mohamed Alabbar as Chairman
Dubai: Ahead of its imminent launch, one of the UAE new digital banks Zand has constituted its Board of Directors, led by Mohamed Alabbar of Emaar and noon. The Chief Commercial Officer of Emirates, …
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UAE: Transfer of Dh1,500 for credit card payment through bank app went missing, complains reader
I made a credit card payment of Dh1,500 through the Emirates NBD (ENBD) bank app on April 21. The transaction however did not go through. I visited the branch to find out about this and was told to …
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Do NRIs need to close their non-resident bank accounts after moving back to India?
In order to continue transacting back home, there have often been queries among Non-Resident Indians (NRIs) surrounding their non-resident bank accounts, particularly their NRE accounts. What are NRE …
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Blockbuster DEWA, Tecom listings make Dubai a bright spot in global IPO landscape
Tecom’s offer was oversubscribed 21 times, while DEWA generated interest 37 times over Dubai: Tecom Group, the operator of Dubai’s ‘new economy’ business clusters, raised Dh35.4 billion through an …
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Tecom IPO’s success reflects confidence in UAE economy
There is a clear appetite for investment in the UAE economy, the second-largest economy in the Arab world. Despite the enormous challenge of the pandemic and the Ukraine conflict …
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Three Arrows Capital Forced Into Liquidation: Report
Three Arrows Capital (3AC), a large crypto hedge fund that held $10 billion in assets at one point, has been forced into liquidation according to a report.
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UAE finance ministry extends FATCA/CRS report submission deadline
The ministry also said that RFI users must submit their annual FATCA/CRS reports through the new portal which is now available on its website. FATCA is a US federal law aimed at curbing offshore tax …
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UAE: Reader complains against bank charges of Dh1,800 for unwanted policy
I noticed an amount of Dh1,800 [deducted from my account], so I called FAB and explained everything. They said that I should have called them about the policy, to which I replied that they should not …
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DIFC Launches Region’s First Open Finance Lab
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and …
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UAE to increase exports to countries in West Africa
The Emirates is one of the biggest investors in Africa. Turkey, Qatar and Israel have significant interests on the African continent as well.
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