Abu Dhabi Commercial Bank PJSC (ADCB) is in talks with funds to sell 13.5 billion dirham ($3.68 billion) of bad loans, Bloomberg News reported on Thursday, citing people familiar with the matter.
Economic growth in GCC to more than halve in 2023 – World Bank
The World Bank has revised its 2023 economic growth projection for the oil exporters of the six-member Gulf Cooperation Council (GCC) downwards to 3.2% in its latest update released on Thursday, from …
Al Ansari trades up 16.5% after Dubai IPO
Listings by privately owned companies are expected to play a greater role in the Middle Eastern IPO market this year …
UAE to Offer Relief on Corporate Tax for Small Businesses and Startups
The Ministry of Finance in the UAE has declared relief measures for small and micro-enterprises, startups, and individuals in relation to corporate tax, which will be implemented from June 1, 2023.
New UAE Dh1,000 banknote to come into circulation from April 10
Image Credit: WAM The Central Bank of the UAE (CBUAE) has issued a new polymer banknote of Dh1,000 denomination. It will be available at banks and exchange houses starting April 10, 2023. The front …
UAE’s Ministry of Finance issues decision on Small Business Relief for Corporate Tax purposes
Businesses with revenues of Dh3 million or less can benefit from Small Business Relief Abu Dhabi: The Ministry of Finance has issued Ministerial … Dear Reader, This section is about Living in UAE …
Dubai records over AED1 bn in realty transactions Wednesday
Dubai real estate market recorded 464 sales transactions worth AED827.14 million, in addition to 80 mortgage deals of AED236.13 million, and 9 gift deals amounting to AED14.26 million on Wednesday, …
CICC Plans Expansion in UAE, Saudi as Xi Pushes Middle East Ties
China International Capital Corp. plans to expand its reach in the United Arab Emirates and Saudi Arabia as President Xi Jinping pushes for closer ties to the Middle East amid rising tensions with the …
Top 5 UAE banks’ combined annual net profit rises to $11.5bn in 2022
The UAE’s top five banks – First Abu Dhabi Bank (FAB), Emirates NBD, Dubai Islamic Bank (DIB), Abu Dhabi Commercial Bank (ADCB) and Mashreq Bank – posted a combined annual net profit of $11 …
UAE set to be a leader in digital finance with CBDC
Launching a CBDC would build on this momentum and position the UAE as a leader in digital finance. Overall, the UAE’s CBDC is an essential step towards the country’s digital economy transformation …
UAE will continue to serve as a hub for exceptional talents, says Sheikh Mohammed
Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance; Sheikh Ahmed Bin Mohammed Bin Rashid Al Maktoum, Chairman of the Dubai Media Council; and Sheikh Mohammed Bin Rashid Bin Mohammed …
Just moved to the UAE? Here’s how you can get a loan more easily with a Foreign Credit Report
Having trouble accessing banking services? Import past credit history for free. The Foreign Credit Report allows new expats to share their past credit history from their home country with UAE banks.
Dubai Islamic Bank inaugurates its State of the Art Branch in EMAAR Karachi
Dubai Islamic Bank inaugurates its state of the art branch in EMAAR Karachi to facilitate the residents of EMAAR for their banking needs in a Shariah Compliant manner. H.E. Bakheet Ateeq AL-Romaithi …
Dubai or London? Which city is more expensive for the expats – Find out
It’s a story similar to dozens of others in Facebook groups, cafes and workplaces, and reflects Dubai’s latest incarnation: an enduring land of opportunity, though with a barrier to entry that just …
UAE, other SWFs deploy Dh114 billion in March
The UAE’s sovereign funds —Abu Dhabi Investment Authority … Last month, Abu Dhabi’s Supreme Council for Financial and Economic Affairs issued resolutions reconstituting the board of directors of …
Abu Dhabi Islamic Bank publishes its 2nd Annual ESG Report
The report also highlights a new three-year ESG strategy to integrate ESG risks considerations into the banking framework and support the UAE’s efforts to achieve the transition towards a more …
Dubai records over $735mln in realty transactions on Tuesday
DUBAI: Dubai real estate market recorded 551 sales transactions worth AED1.78 billion, in addition to 91 mortgage deals of AED901.27 million, and 24 gift deals amounting to AED43.12 million on Tuesday …