Toward that end, Mastercard in July unveiled its new global Center for Advanced AI and Cyber Technology in Dubai, where the card network will use AI to battle financial crime and drive inclusive …
CBUAE, Central Bank of Egypt enter into Bilateral Currency Swap Agreement
The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) have today entered into a Bilateral Currency Swap Agreement between the UAE Dirham ..
UAE and Egypt central banks enter into currency swap agreement – statement
The Central Bank of the United Arab Emirates (CBUAE) said on Thursday it entered into a bilateral currency swap agreement with the Central Bank of Egypt (CBE).
Egypt and UAE enter $1.4 Billion local-currency swap agreement
The Central Bank of Egypt, and the Central Bank of the UAE have established a bilateral currency swap agreement valued at approximately $1.4 billion. ・Up to 5 billion dirhams and 42 billion Egyptian …
Strong operating conditions for GCC banks; UAE outperforming
GCC banks are benefitting from strong operating conditions supported by high oil prices, contained inflation and rising interest rates, but bank performance varies between markets, Fitch Ratings says.
Dubai’s Emaar in Talks to Build Housing Projects in Saudi Arabia
Emaar Properties PJSC, the Dubai-based builder of the world’s tallest tower, is exploring opportunities to develop housing communities in neighboring Saudi Arabia where an oil-fueled construction boom …
National Bank of Fujairah expects record participation at its seventh NBF Fujairah Run
Running enthusiasts and families of all ages and abilities invited to run through scenic route in the Emirate of Fujairah …
Dubai Government reduces public debt by Dhs29bn
Dubai Government repaid Dhs20bn as part of its total financing from Abu Dhabi and the Central Bank of the UAE.
Hamdan clears new projects as part of 3rd cycle of ‘Dubai 10X’
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Chairman of the Board of Trustees of the Dubai Future Foundation, on Wednesday approved a set of new projects across key …
Recomposing banking: Driving growth with business model innovation
Infosys Finacle, a global leader in digital banking solutions and Red Hat, a leading provider of enterprise open source software solutions recently organis..
Dubai Repays $5.5 Billion of Crisis-Era Loans to Cut Debt Load
(Bloomberg) — Dubai said it began repaying a $20 billion bailout loan from Abu Dhabi and the country’s central bank, as part of an effort to reduce its debt burden almost 15 years after the sheikhdom …
Exploring Dubai’s Islamic Finance Sector And Its Appeal To Indian Investors
Islamic finance is flourishing in Dubai, offering a unique approach rooted in ethical and Sharia-compliant principles. With its robust regulatory framework, Dubai has become a global hub for Islamic …
Hong Kong’s Unity Group launches joint venture with UAE firm on green tech as John Lee’s Middle East push bears fruit
The Hong Kong government and its promotion of the city in the United Arab Emirates definitely helped’ land the deal, Unity chairman says.
Dubai Starts Repaying Bailout Loan as Part of Huge Debt Cutback
(Bloomberg) — Dubai said it began repaying a $20 billion bailout loan from Abu Dhabi and country’s central bank, as part of an effort to reduce its debt burden almost 15 years after the sheikhdom …
Dubai To Reduce Public Debt By Dh29 Billion
Dubai government on Tuesday announced a reduction of approximately Dh29 billion in the public debt by the end of this year, including partial settle …
Dubai slashes public debt by $7.9bn
Dubai has slashed public debt by AED20bn ($7.9bn), according to the Public Debt Management Office (PDMO) of the emirate’s Department of Finance (DOF). The achievement has been realised within a year …
UAE economy to grow 3% in 2023; 4% in 2024: S&P
The UAE economy is forecast to grow 3% in 2023 and 4% in 2024, driven by the non-oil sector, which is expected to benefit from strong growth in tourism, government initiatives, and technological …