The bank’s lawsuit was revoked due to its violation of the UAE Central Bank’s personal loan instructions as the loan granted to the customer exceeded 20 times his salary. The bank also did not commit …
Future Health GCC launches advanced cord blood banking facility in Dubai
Future Health GCC has unveiled its state-of-the-art cord blood banking facility in Dubai Healthcare City, marking a significant advancement in healthcare o..
India’s SBI aims to sell its Yes Bank stake, worth $2.2 billion
Japanese lender Sumitomo Mitsui Banking Corp and Dubai-based Emirates NBD are in advanced talks to acquire a majority stake in Yes Bank, two of these sources said. Sumitomo Mitsui is a unit of …
UAE national banks lend $13.48bln to private sector in 5 months
Credit facilities provided by the UAE national banks to the private sector reached AED49.5 billion ($13.48 billion) during the first five months of 2024, raising the cumulative total to AED1.182 …
Etihad Rail unveils sustainable finance framework in green push
Etihad Rail said its sustainable finance framework was developed in collaboration with First Abu Dhabi Bank and Standard Chartered Bank.
Dubai Summer Restaurant Week 2024 offers discounts at top eateries
Dubai diners will be sitting down to cut-price food at the city’s top eateries as Summer Restaurant Week returns from August 23 to September 1. The Dubai Summer Surprises (DSS) 2024 event will see …
UAE national banks lend $13.48bn to private sector in 5 months
Credit facilities provided by the UAE national banks to the private sector reached AED49.5 billion ($13.48 billion) during the first five months of 2024, raising the cumulative total to AED1.182 …
Dubai World Trade Centre hospitality division reports 140% increase in guest catering
Dubai World Trade Centre (DWTC) has announced growth of 140 per cent in catering to external events by its hospitality business in the first half of 2024. The results cement its position as a premier …
Abu Dhabi’s ADQ reportedly plans to acquire Bank Audi’s Turkish unit
ADQ, the smallest of Abu Dhabi’s three sovereign wealth funds, is reportedly exploring the acquisition of the Turkish unit of Lebanon’s Bank Audi as entities based in the GCC seek to expand their …
GTN appoints Ahmad Abouardini, Saxo Bank veteran, as new Middle East Relationship Manager
“We are delighted to welcome Ahmad to our company,” said Damian Bunce, CEO of GTN Middle East. “Ahmad has extensive regional experience and a deep understanding of the Middle East market. He will be …
Dubai: Salik reports $149 million in net profit during first half of 2024
Salik delivered a very healthy financial performance in H1 2024, registering 238.5 million revenue-generating trips which increased by 4.9% YoY. Dubai: Salik reports $149 million in net profit during …
Gold prices in Dubai drop after inching closer to Dh300 per gram
In the UAE, the 24K variant of the yellow metal was trading at … China’s anticipated liquidity injection could boost gold and other cryptocurrencies. Historically, the People’s Bank of China …
SquaredFinancial wins the Best Trading Education UAE/GCC 2024 Award
Committed to offering extensive and personalized trading education to investors and traders, leading fintech firm SquaredFinancial earned the Best Trading Education UAE/GCC 2024 by the International …
Ipos Raise $2.64 Billion In H1 As Mena Outlook Stays Robust
After a resilient first half led by the UAE and Saudi Arabia, the upcoming IPOs will be spurred by the region’s ongoing privatisation drive on the back of increased liquidity, economic recovery, and …
UAE’s Takaful insurance sector set for 20% growth in 2024
Standard & Poor’s Credit Ratings Agency (S&P Global Ratings) today forecast that the Takaful sector in the UAE, the region’s second-largest Takaful market, will grow by 15-20 percent in 2024. The S&P …
UAE and India use XRP not US dollar in historic oil trade
India and the UAE have just made history by completing a crude oil deal that skipped the US dollar entirely, opting for XRP instead. India paid for oil from the UAE using their local currencies, but …
Sharjah Finance department launches financial training centre
The Sharjah Finance Department (SFD) has launched the Financial Training Centre in collaboration with the Arab Administrative Development Organisation (ARADO) to enhance the financial skills of …