The UAE is building a strong foundation to create a secured, innovative and futuristic startup ecosystem led by policies that complement macroeco …
( read original story …)
UAE’s first digital bank launches app after securing final approvals
The digital only bank said it has launched its banking app to allow customers to start creating their current and savings accounts in less than five minutes. New survey shows 89% of consumers are now …
( read original story …)
Mubadala Seeks Over $20 Billion Value for EGA in IPO
Mubadala Investment Co. is seeking a value of more than $20 billion including debt for Emirates Global Aluminium PJSC as it inches closer to listing the business, according to people familiar with the …
( read original story …)
More IPOs expected in UAE as privatisation progresses
A bulging pipeline of business is livening up the UAE’s formerly sleepy equity capital markets, following a series of eye-catching transactions in recent weeks, following on from the largest IPO for …
( read original story …)
UAE and Hungary to strengthen economic, investment relations
As part of its endeavours to strengthen and activate means of economic and investment cooperation with various countries of the world, the UAE, represented by the Ministry of Finance (MoF), …
( read original story …)
UAE, Hungary sign agreement on promotion and protection of investments
The UAE, represented by the Ministry of Finance (MoF), has signed an agreement to promote and protect mutual investments with Hungary. The agreement, which was signed in Abu Dhabi, aims to enhance …
( read original story …)
FinTech: Why these startups are banking on a payments revolution in the Middle East
“We’re also going to see more and more opportunities surrounding open banking,” says Karim Dakki, CEO at UAE-based startup Klaim, citing buy now, pay later (BNPL) options as “the next important …
( read original story …)
Dubai regulator DFSA hits ex-Abraaj finance chief with record $1.7m fine
The former finance chief of the now-defunct Abraaj Group … 2019 collapse but was too afraid to speak out, according to the Dubai financial regulator. Ashish Dave was handed a $1.7m fine by …
( read original story …)
Meet Aziz Al Harbi of RoboStores, the Saudi expat who is home in the UAE
Dubai: Several expats who come to the UAE in search of greener pastures continue to live here. Their children grow up in the UAE and make it their home. Saudi expatriate Aziz Al Harbi, 32, moved into …
( read original story …)
Zomato IPO oversubscribed on first day
The IPO comes at a time when Indian and global markets are at near record highs. On Wednesday, the 30-share BSE Sensex closed at 52,904.05 points, which is 134.32 or 0.25 per cent higher than the …
( read original story …)
Dubai regulator hands ex-Abraaj finance chief $1.7m fine
Dubai’s financial regulator has imposed a $1.7m fine on the … the ruling said, citing the former finance chief’s written response to the regulator in March. Dave knew such activity was illegitimate, …
( read original story …)
Yahsat starts trading in Abu Dhabi after successful IPO
UAE-based satellite operator Yahsat announced the official listing of its shares and the commencement of trading on the Abu Dhabi Securities Exchange, following the successful completion of its IPO.
( read original story …)
Dubai Regulator Hits Ex-Abraaj Finance Chief With Record Fine
The former finance chief of the now-defunct Abraaj Group said he was aware of the fraud that led to the private equity firm’s 2019 collapse but was too afraid to speak out, according to the Dubai …
( read original story …)
UAE’s ADNOC invests over $750mln in drilling services to boost oil production
The investment is in the form of three contracts awarded by ADNOC Offshore to Schlumberger, ADNOC Drilling, and Halliburton …
( read original story …)
A Guide To Traveling Around UAE On a Budget
Knowing a bit of finance can actually benefit you in many ways! Especially when you are on a budget. If you are traveling to the UAE or moving around UAE and want to do it on a budget then his UAE …
( read original story …)
After Pine Labs & Mobikwik, now Visa & Lightbox backed B2B payment solutions firm PayMate planning an IPO
The firm’s founder Ajay Adiseshann is a technology entrepreneur . Beyond Visa & Lightbox, the firm’s other investors include Recruit Strategic LLC, Mayfair 101, BCCL, Mayfield Fund, Kleiner Perkins Ca …
( read original story …)
Mubadala-backed Yahsat expects new satellite launch in H2 2023 -CEO
Yahsat, the newly listed satellite company partly owned by Abu Dhabi state investor Mubadala, plans to launch a new satellite in two years, aimed at introducing advanced data services to its clients …
( read original story …)