Arab Bank Group reported net income after tax for the first-quarter of 2020 of $147.6 million as compared to $231.8 million for the prior period, recording a decrease of 36 per cent. Total loans …
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BRIEF-UAE Launches Initiative for Unified Legislative Framework For Islamic Finance- Dubai Media Office
UAE LAUNCHES A NEW INITIATIVE TO CREATE A UNIFIED GLOBAL LEGAL AND LEGISLATIVE FRAMEWORK FOR THE ISLAMIC FINANCE SECTOR * INITIATIVE LAUNCH …
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UAE fights coronavirus: ’10 million meals’ drive concludes with over 15 million meals within a month
The UAE’s biggest food distribution drive draws massive donations to support Covid-19-hit communities in Ramadan.
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Oil slump puts pressure on Gulf states’ currency pegs
The slump in oil prices this year has prompted some investors to rekindle bets against Gulf nations’ currencies, putting longstanding pegs to the dollar under pressure. Bahrain, Kuwait, Oman, Qatar, …
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Nirav Modi’s threats to ‘dummy directors’ out in UK court
Speaking in a mix of Hindi and Gujarati, they are heard saying that they are making the recording as they fear for their safety and just want to go back to India but are being held against their will …
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Dubai Customs extends 20% refund on import fees as part of Covid-19 stimulus package
director general of Dubai Customs. “All divisions including customs development division, finance, HR division and client division all worked together to implement the stimulus package items in record …
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Talking The Tanker Trade (Podcast Transcript)
We unite The Investing Edge forces as Akram’s Razor and J Mintzmyer go into the background and present tense for the tanker trade. We explore why there’s a nagg …
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U.S. Crude Dips After Early Rise Despite Saudis’ Helpful Nudge
Oil prices settled down for a second-straight day, unable to hold onto Thursday’s early run-up inspired by a hike in the official selling price of Saudi crude. While that may be typical, it’s a worry …
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UAE supported over 17 million worldwide with Dh262m humanitarian aid, relief in 2019
Sheikh Hamdan stresses how the MBRGI is lending a helping hand to anyone in need in the world through numerous projects.
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Iran risks political backlash by riding stock market rally
Iran is taking advantage of a stock market boom to boost state revenues by selling stakes in state companies, but risks political repercussions if those buying shares get burned.
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Coronavirus impact: Q1 profits of UAE banks hit by increased provisioning
The UAE’s top four banks’ first-quarter fell by nearly one-third due to higher provisions. The net profit of four largest banks – First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank and …
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“Nirav Modi Said He Would Get Me Killed”: Video Played In UK Court
Threats of being implicated for theft and even being killed are among the allegations caught on camera in a video recorded by so-called “dummy directors” associated with companies linked to Nirav Modi …
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Dubai’s Future Is Threatened by the Side Effects of Coronavirus
Dubai, with events cancelled, flights grounded and investment halted, faces both the threat of the coronavirus and a growing economic crisis.
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UK court played video of Nirav Modi’s threats to ‘dummy directors’
“My name is Ashish Kumar Mohanbhai Lad, I am the namesake owner of Sunshine Gems Limited, Hong Kong, and Unity Trading Fze, Dubai,” says one of the men on the recording from June 2018.
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Video: Mashreq Bank’s Mohammad Al Shouli on Expo 2020 Dubai postponement
“It will allow a lot of people to cross the “T”s and dot the “I”s from now till next year,” says Mohammad Al Shouli, the executive vice president, and global head of contracting finance at Mashreq …
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Nirav Modi told me he would get me killed, UK court hears from ‘dummy director’
Witnesses relate to the Enforcement Directorate (ED) discovery that dummy directors/owners/managers were appointed in a number of overseas companies in Hong Kong and Dubai, though the companies …
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UAE banking system strengthens support for agricultural sector
ABU DHABI – The UAE’s banking system strengthened its support for the agricultural sector in the first quarter of 2020, by providing financing valued at more than AED500 million to agricultural …
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