Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, has won three awards at the MEED MENA Banking Excellence Awards 2024. The ban …
Salary on demand & seamless payments: Mastercard and ABHI collaborate to fuel UAE’s financial landscape
A faster and more convenient way for working individuals to access earned salaries.
Emirates Development Bank Launches Cash Management Solutions, Empowering Clients with Financial Control
Emirates Development Bank (“EDB” or “the Bank”), the key financial engine of UAE economic development and industrial advancement, today announced the launch of ‘EDB Smart Connect’, an innovative cash …
Project Dubai Unlocked revealed ownership of properties owned by Pakistanis in Dubai
ISLAMABAD: The project ‘Dubai Unlocked’ revealed the ownership of properties of the global elite in Dubai. The list includes political figures, globally sanctioned individuals, alleged money …
Robust Gulf IPO activity records $1.2bln proceeds in Q1
In terms of Mena stock exchange performance, the Egyptian Exchange (EGX30) emerged at the top with an 8.0 per cent gain during Q1 2024, followed by Boursa Kuwait Premier Market with 7.5 per cent and …
UAE continues to post robust growth in non-oil sectors: OPEC
The UAE’s non-oil GDP registered a significant y-o-y increase of 7.3% in Q2 2023, with major contributions from the construction, finance and insurance sectors, it stated in the May report. This …
The Arms Dealers, Drug Lords, and Torturers Hiding Out in Dubai
The data shows Asadullah Khalid, a former Afghan government official and accused war criminal, has apparently made a home in Dubai. Khalid served in a variety of roles in the American-backed Afghan …
Robust Gulf IPO activity records $1.2b proceeds in Q1
IPO activity in the Mena region retained strong momentum in the first quarter of 2024 with 10 initial public offerings in Saudi Arabia and the UAE recordin..
Consumer confidence in UAE banking rose to 90% in 2023: UBF Chairman
Abdulaziz Al Ghurair, Chairman of UAE Banks Federation, (UBF), the sole representative and unified voice of the UAE banks, said that the increase in consumer confidence in the UAE banking sector from …
UAE banks record higher profits in Q1 2024 than last year, says Al Ghurair
The UAE’s banks’ profits in the first quarter of 2024 have grown better than last year as well as quarter-on-quarter, a senior official said on Tuesday.“First-quarter banks’ profit after-tax have done …
Consumer confidence in UAE banking rises to 90%, reflecting sector’s commitment to further growth
The performance of UAE banks confirms the strength and resilience of the banking sector, which is achieving solid financial metrics.
Dnata Group CEO Steve Allen calls the Dubai-based company a ‘great IPO target’
The CEO of dnata Group has revealed the company can be ready with an IPO in six months should they get the directive. He also called the Dubai-based airport services and ground handling entity a …
UAE collects $47.3bn in VAT and Excise Tax
The UAE has collected more than $47bn in VAT and Excise tax since they were implemented, according to new data.
UAE: Banks willing to help individuals, businesses hit by record rains
Banks in the UAE are willing to work with customers and provide a “lifeline” to those who were impacted by the last month, said Abdulaziz Al-Ghurair, chairman of UAE Banks Federation in a media …
IPOs in the Middle East continue to witness positive aftermarket performance in 2024, reports PwC Middle East’s latest IPO Watch
Majority of Q1 2024 IPOs saw post IPO gains, notably MBC Group Co. and Avalon Pharma. Dubai Parkin’s IPO was oversubscribed by 165 times, a DFM record. Tadawul dominated GCC IPO activity, hosting …
Middle East sees positive IPO results in 2024: Report
The Middle East is facing a positive aftermarket performance in 2024, according to PWC’s latest IPO+ Watch. Majority of IPOs in Q1 2024 witnessed substantial post-IPO gains, with standout performances …
Spinneys reports $221.9mn sales in first post-IPO quarterly result
Q1 2024 total revenue grows 10.9%; Gross profit up 15.1% to $91.5 million; First Saudi store expected to open this quarter …