Starting as an assistant engineer, Qasim Sultan rose through the ranks to become assistant director, deputy director and, ultimately, director-general …
Up to Dhs20,000 fine for violations of ID cards and residency visas in UAE
The administrative fines related to the ID card are imposed in case of committing two violations: Delaying registration to obtain the ID card, and delaying its renewal after 30 days from its …
UAE banks’ investments up 0.3% to AED 666.2 billion by end of April
The total investments by banks operating in the country continued to rise steadily, reaching AED 666.2 billion at the end of April 2024, registering growth of 0.3% on a monthly basis, and 5% since the …
Delhi HC Imposes Interim Stay On Dubai Court’s Order To Honasa Over Compensation
On May 16, the UAE’ Court ordered Honasa to pay a compensation of AED 25.07 (around INR 56.6 Cr) Mn as damages to RSM General Trading Agency …
Ajman Bank Visa sign Partnership deal
Salima Gutieva, Visa’s VP and Country Manager for UAE, added, “We are delighted to partner with Ajman Bank on the AccelRight Visa Business Credit Card. Together, we aim to deliver outstanding …
UAE: MoF concludes H1 2024 Government Financial Management Awareness Programme
The Ministry of Finance has wrapped up its Government Financial Management Awareness Programme for the first half of the year, after offering nine courses attended by over 1,000 employees from 48 …
Dubai real estate: How new bank mortgage options make buying property easier than ever with reduced lump sum burden
Dubai real estate investors are turning to bank financing options to purchase properties with less burden on down payments to buy in off-plan developments. In a significant development for the real …
UAE Central Bank’s balance sheet hits record AED789.82bn in April 2024
The Central Bank of the United Arab Emirates (CBUAE) made history, with its balance sheet hitting a record AED789.82 billion by the end of April 2024. The April end balance sheet figures also …
Banks expanding financing options for off-plan projects in Dubai
Traditionally, off-plan projects required buyers to make substantial upfront payments directly to developers. For instance, a typical payment structure might demand a 60% payment during the …
Dubai vs Los Angeles: How much real estate can you buy with $1m?
Dubai continues to experience an incline in the city’s real … according to data from Norada Real Estate Investments, fuelled by rising national mortgage rates across the country. Research has …
Chinese Investors Seize Chances From D33 Agenda to Enter Middle East, Global Markets via Dubai
Chinese new energy companies have been investing heavily in Dubai. The Middle East is known not only for the oil wealth but also for the sunshine, which supports the development of the photovoltaic …
UAE retail investors prioritise ESG in decision-making
Not long ago, businesses were judged mostly on their financial performance. More profits were essentially a byword for success. Today, however, companies are also being evaluated on their adherence to …
Spend rupees in UAE: New rupee-based shopping for Indians tourists
Key sectors in the UAE – from retail to hospitality to gold and jewellery sales – will be immediate beneficiaries as Indian tourists get the option to pay for their transactions using the rupee and …
UAE: Gross banks’ assets at $1.17trln by end of April 2024
ABU DHABI: Gross banks’ assets, including bankers’ acceptances, increased by 1.0 percent from AED 4,254.5 billion at the end of March 2024 to AED 4,296.5 billion at the end of April 2024, according to …
Dubai real estate sales hit $52.5bn in H1 as apartment, villa and rent prices all increase: report
Dubai real estate sales and rental transaction data shows sign of strong increases for years to come says Espace report …
UAE holds first strategic financial dialogue with Poland
The UAE, represented by the Ministry of Finance, has held the first Strategic Financial Dialogue with the Republic of Poland in Warsaw to strengthen bilateral cooperation in various financial and …
Nasdaq Dubai welcomes $500mln sukuk by the Sharjah Islamic Bank
Sharjah Islamic Bank’s Sukuk on Nasdaq Dubai, oversubscribed 3 times, showcases the strong demand from international and regional investors …