The Dubai Islamic Bank has announced on Saturday a Dh120 million contribution to the Community Solidarity Fund against COVID-19 launched by the Islamic Affairs and Charitable Activities Department.
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UAE, Gulf states can raise billions via asset sales
Gulf nations may turn to asset sales to complement an almost $50 billion debt spree to support economies rocked by the coronavirus pandemic and the collapse in crude prices, according to Citigroup Inc …
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Jumia: Africa’s Amazon’s huge losses since a billion-dollar IPO
After peaking at a high of $49.77 within its first week of trading in April 2019, the stock had crashed below its IPO price by August. Jumia lost its “unicorn” status by September and the stock now …
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Veteran UAE horse racing journalist Mohammed Taha passes away
Mohammed has been associated with the sport since its inception in the UAE in the early nineties and has been a pivotal member of the core management team behind the successful Dubai International …
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Shuaa Capital to provide support to UAE tech SMEs amid Covid-19 pandemic
UAE-based Shuaa Capital is to provide free expert advisory services and interest-free loans to support the country’s small and mid-sized technology enterprises (SMEs) impacted by the coronavirus …
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Coronavirus: Dubai’s DIFC to allow employers to reduce hours, pay without consent
Employers will also be able to restrict workplace access, mandate remote working, and impose paid or unpaid leave, according to a release from the Government of Dubai’s Media Office. “The primary …
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Saudi retail giant Bin Dawood’s online battle with pandemic
Ahmad Bin Dawood, chief executive of the holding company that owns the eponymous store chain as well as the Danube outlets, was ready for the challenge presented by the pandemic from the beginning.
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Dubai launches remote payment services to facilitate real estate registration process
DUBAI – Dubai Land Department (DLD), in cooperation with Smart Dubai and the Department of Finance (DOF), launched remote payment services to facilitate the process of real estate registration through …
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COVID-19 response: UAE banks use 60% of funds under central bank liquidity facility
The Governor of the Central bank of the UAE (CBUAE) met with CEOs of all banks on April 12, 2020 to discuss the implementation of the TESS. “In our efforts to protect impacted individuals and ensure …
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Saudi, UAE, Kuwait GDP to contract this year: report
The UAE’s GDP is expected to contract by 4.6% y/y in 2020 (1.4% growth prior … “In the meantime, the General Reserve Fund (GRF), part of Kuwait’s sovereign wealth fund, continues to finance …
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UAE’s Dana Gas pledges proceeds of Egypt sale to repay sukuk
Dana Gas DANA.AD plans to use the proceeds from its Egyptian assets, which the United Arab Emirates-based firm has been trying to sell, to pay down its sukuk, an Islamic bond which is due in October.
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MoF Launches Upgraded Version of Smart UAE Gate for GFS Reports System
As part of its ongoing efforts to enhance financial systems, global competitiveness of the United Arab Emirates, and to adhere to the updated requirements of the IMF’s Government Finance Statistics …
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Commercial Bank of Dubai reports Dh315m first quarter net profit
Commercial Bank of Dubai (CBD) on Wednesday reported a net profit result of Dh315 million for the first quarter of 2020, down 7.3 per cent against the same period in 2019. Image Credit …
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Suqia UAE donates 10m water bottles to food drive
The campaign will be led by his wife Sheikha Hind bint Maktoum bin Juma Al Maktoum, Chairperson of the Board of Trustees of UAE Food Bank. The Mohammed bin Rashid Al Maktoum Global Initiatives will …
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CO2 GRO Inc. Announces a Commercial Evaluation Installation at a Gulf Cryo Referred UAE Lettuce Greenhouse
TORONTO, ON / ACCESSWIRE / April 22, 2020 / Toronto based CO2 GRO Inc. (“GROW”) (GROW.V)(BLONF)(Frankfurt:4021) is pleased to announce the installation of a CO2 Delivery Solutions™ Commercial …
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Former Indian ambassador praises UAE’s tolerance following online rise in Islamophobia
Earlier this month, technician Rakesh B. Kitturmath, chief accountant Bala Krishna Nakka and finance analyst Mitesh Udeshi were fired for similar derogatory social media posts that violated the UAE …
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DFM launches the first of its kind ESG Index
Following the IPO, the Government of Dubai retained the remaining 80 per cent of DFM Company through Borse Dubai Limited. www.dfm.ae Disclaimer: The contents of this press release was provided from an …
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