Dubai’s financial services regulator has stopped Abraaj Capital from taking on new business or moving money to Abraaj Investment Management (AIML), its related entity, as part of an investigation into ... ( read original story ...)
In the Wake of the Ongoing Floods in Kerala; UAE Exchange and Unimoni Waive Service Fee on Remittances to Kerala Chief Minister’s Distress Relief Fund
ABU DHABI, United Arab Emirates — Leading money transfer, foreign exchange and payment solutions brands, UAE Exchange and Unimoni, have waived service fee on remittances to Kerala Chief Minister’s Dis... ( read original story ...)
UAE’s four biggest banks see combined profit rise of 21%
Profitability for the banks, which include First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank and Dubai Islamic Bank, is likely to continue into 2019, the data showed. The UAE’s four larges... ( read original story ...)
UAE’s top-four banks to maintain stable profitability into 2019, report says
First Abu Dhabi Bank, Emirates NBD, Abu Dhabi Commercial Bank and Dubai Islamic Bank posted a combined 21 per cent year-on-year increase in second quarter net profit to Dh8 billion, Moody’s Investors ... ( read original story ...)
Bank fraud: Sterling Biotech owner Nitin Sandesara detained in Dubai
In a major breakthrough in the Rs 5000-crore Sterling Biotech case, authorities in the UAE have detained Nitin Sandesara, the owner of the Gujarat-based pharma group. The company is accused of willful... ( read original story ...)
Accused in Rs 5,000 crore bank fraud case held in Dubai
Officials said Sandesara was arrested by Dubai police based on a non-bailable arrest warrant issued by an Indian court. Nitin Sandesara, an absconding director of a Gujarat-based pharma company which ... ( read original story ...)
Emaar Properties’ H1 revenue surges 46pc to $3.12bn
The net profit for the first half after considering impact of Emaar Development IPO in 2017 was seen at Dh2.981 billion ($812 million), an increase of 5 per cent over same period last year, it added. ... ( read original story ...)
Here are the timings for UAE banks during Eid Al Adha
The UAE Central Bank has announced the timings for banks during the upcoming Eid Al Adha holiday. According to a letter circulated to all major banks in the UAE, branches are required to be closed fro... ( read original story ...)
UAE announces Eid Al Adha holiday for banks
The Central Bank has announced Eid Al Adha service timings for national banks and major branches in the UAE. Banks will close for the Eid holidays on Monday, August 20, till Thursday, August 23. They ... ( read original story ...)
Diversification makes UAE’s economy more competitive
The UAE leads the Arab world in competitiveness as increased diversification makes its economy more resilient, according to a study by the World Economic Forum and the World Bank Group. The UAE, ranke... ( read original story ...)