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 …
Dubai: Salik Records Dh1.1-Billion Revenue In H1 After 238 Million Vehicles Use Toll Gates
Salik Company PJSC, Dubai’s exclusive toll gate operator, saw 238.5 million vehicles pass through its eight toll gates from January to June this year, resulting in Dh1.1 billion half-year revenue, up …
Emirates NBD, Japanese Bank Eye Major Stake in Yes Bank
Dubai Negotiations are underway between Emirates NBD and a major Japanese bank to secure a substantial stake in India’s Yes Bank, according to industry sources. This potential acquisition could …
Saudi and UAE lead MENA IPOs as 14 sales raise $2.6bn
MENA IPOs in 2024. This was followed by Alef Education Consultancy with its listing on the Abu Dhabi Securities Exchange (ADX), which contributed 19.5 per cent of proceeds with th …
Saudi and UAE lead MENA IPOs as 14 sales raise $2.6bn
MENA IPOs in 2024. This was followed by Alef Education Consultancy with its listing on the Abu Dhabi Securities Exchange (ADX), which contributed 19.5 per cent of proceeds with th …
MENA region saw 14 IPOs valued at $2.64bln in Q2 2024
The UAE had two listings in Q2, Alef Education Consultancy LLC and Spinneys 1961 Holding Plc Kuwait saw first listing since 2019 with Beyout Investment Group (BIG) Holding Co. on the KSE Dubai, UAE – …
UAE national banks provided Dhs 49.5 billion in credit facilities to private sector in 5 months, up 4.5%
Credit facilities provided by the UAE national banks to the private sector reached Dhs49.5 billion during the first five months of 2024, raising the cumulative total to Dhs1.182 trillion at the end of …
UAE national banks provided $13.48bln in credit facilities to private sector in 5 months, a growth of 4.5%
National banks’ financing to the private sector increased on a monthly basis by 1.22 percent, or AED14.3 billion, while on an annual basis, it increased by 5.3 percent, or AED59.7 billion …
India’s SBI aims to sell its Yes Bank stake worth $2.2 bln by end-March, sources say
In a response to Reuters’ query, Yes Bank said it had “no comments to offer regarding (the) stake sale as these inquiries are speculative in nature.” RBI and Emirates NBD, Dubai’s biggest bank, did …
UAE economy continues robust growth across real estate, tourism, manufacturing: OPEC
Younis Haji Al Khoori, Undersecretary of the Ministry of Finance (MoF), said the UAE economy is projected to grow by 5.7% in 2024 despite prevailing global economic challenges, The Expo 2020 Dubai …
Abu Dhabi Wealth Fund ADQ Said to Eye Bank Audi’s Turkish Unit
No final decisions have been made and there’s no certainty that ADQ will ultimately buy the bank, the people said. Representatives for ADQ declined to comment. Bank Audi and Odeabank did not respond …