Al Ramz Corporation Investment and Development logged net profits valued at AED 9.20 million in the first nine months (9M) of 2024, compared with AED 21.62 million in 9M-23. Net finance income hit AED …
UAE banking sector hits all-time-high of Dhs502.6 billion in capital, reserves
National banks have the lion’s share accounting for 86.3% of the total capital and reserves, reaching Dhs433.7 billion by July 2024, reflecting a year-on-year growth of 10.4%.
UAE banking sector hits all-time-high of $136.94bln in capital, reserves
According to the latest data released by the Central Bank of the UAE, the sector’s capital and reserves witnessed a substantial year-on-year growth of 10.5% …
Dubai watchdog DFSA slaps $100,000 fine on marketing firm for misleading financial promotions in DIFC
The Dubai Financial Services Authority (DFSA) has issued a Decision Notice against Vedas International Marketing Management for conducting unauthorised financial promotions and making misleading …
ADIB becomes first UAE bank to safely test fractional Sukuks offering to retail investors
Currently, accessing the Sukuk market requires a minimum investment of US$200,000. However, with fractional Sukuks and as per the initial approval given to ADIB, retail investors will be able to …
UAE’s new all-in-one financial app ‘Whizmo’ to transform daily transactions for individuals and businesses
The app is designed to lessen financial stress by offering users complete ownership, removing transactional friction, and making daily financial tasks simpler. UAE: Whizpay Technology LLC, a leading …
UAE Banking Federation’s Jamal Saleh on the potential of digital lending
In this interview with Gulf Business, UAE Banks Federation‘s (UBF) director general Jamal Saleh highlights the significant strides made by the UAE banking sector in embracing digital solutions and the …
Dubai authority issues Dh367,000 fine to Vedas Marketing over ‘deceptive promotions’
The Dubai Financial Services Authority (DFSA … reinforcing the DIFC’s status as a premier hub for private banking and asset management in the region. The DIFC also now hosts 27 out of the 29 global …
Dubai-based Invictus Investment enters new markets with new products
The new markets are the Netherlands, Jordan, Burkina Faso, and Senegal, increasing Invictus Investment’s global presence to 54 countries. The two new products are sunflower and rapeseed meal, which …
UAE agenda at COP29: Climate financing, follow up on last year’s pledges
Climate financing and backing deals that protect individuals against the dire results of climate change are on top of the UAE agenda at COP29. Kicking off on November 11 at the Azerbaijan capital, …
UAE agenda at COP29: Climate financing, follow up on last year’s pledges
Climate financing and backing deals that protect individuals against the dire results of climate change are on top of the UAE agenda at COP29. Kicking off on November 11 at the Azerbaijan capital, …
The Cabinet underscores the importance of the UAE Government Annual Meetings
The Cabinet emphasised the significance of the UAE Government Annual Meetings as a pivotal national gathering that embodies the spirit of a united national team. These meetings review and discuss the …
Yusuff Ali’s Lulu Retail raises IPO size from 25% to 30% amid soaring investor demand
Lulu Retail, part of Lulu Group International led by prominent Non-Resident Keralite MA Yusuff Ali, has raised its initial public offering (IPO) size on the Abu Dhabi Securities Exchange from 25% to …
Lulu Retail increases IPO size to 30% as it seeks to raise up to $1.72 bln
Lulu Retail Holdings, which runs one of the Middle East’s hypermarket chains, said on Monday that it has increased the size of its planned initial public offering (IPO) to 30% from 25% due to high …
Top Grocer Lulu Boosts Size of Abu Dhabi IPO to $1.72 Billion
Lulu Retail Holdings Plc increased the number of shares on offer in its Abu Dhabi initial public offering, and now targets raising as much as $1.72 billion in the United Arab Emirates’ biggest listing …
Lulu’s Abu Dhabi IPO Set to Price at Top, Raising $1.43 Billion
Lulu Retail Holdings Plc’s Abu Dhabi initial public offering is likely to price at the top end of a planned range and raise $1.43 billion, making it the United Arab Emirates’ biggest listing of the …
UAE: Central Bank announces M1 increase to $242.1bln
The money supply aggregate M2 increased by 1.7%, from AED2,169.4 billion at the end of June 2024 to AED2,205.9 billion at the end of July 2024 …