Ajman Bank has signed a Memorandum of Understanding (MoU) with Abu Dhabi Global Market (ADGM), one of the world’s largest international financial centres in the capital of the UAE, to support the …
The Central Bank of the UAE and the Higher Shari’ah Authority issue guiding principles to foster sustainable Islamic finance
The issuance of the guiding principles coincides with the UAE’s hosting of the Conference of the Parties (COP28), which highlights sustainable practices and foster united efforts in addressing sustain …
Apparel Group seals ESG-linked finance deal with UAE banks
“Our ESG-linked financing agreement is more than a financial endeavour; it’s a mutual pledge towards long-term environmental stewardship, social prosperity, and exemplary governan …
Binance Pilots Banking Triparty Agreement to Help Institutional Investors to Manage Counterparty Exposure
This first-in-crypto solution replicates traditional finance framework enabling institutions to fulfill risk management obligations by pledging fiat or fiat equivalent trading collateral with banking …
UAE Cop28 chief says fossil fuels must be part of climate deal, urges delegates to ‘adopt a different mindset’
Sultan Al Jaber, president of Cop28 and chief of UAE oil giant ADNOC, strenuously denied this week that he used the Cop presidency to pursue new fossil fuel deals.
COP28: Climate aid fund established on first day of Dubai summit
COP28 climate summit head Sultan Ahmed al-Jaber notched a win on the first official day of talks in Dubai, with the adoption of an agreement to set up a “loss and damage” fund to help developing …
Emirates Islamic celebrates 52nd UAE National Day
Emirates Islamic (DFM: EIB), part of Emirates NBD Group, is a leading Islamic financial institution in the UAE. Established in 2004 as Emirates Islamic Bank, the bank has established itself as a major …
UAE: Over Dh394 million in debt settled for more than 1,000 citizens
The Defaulted Debts Settlement Fund in the UAE has announced that 1,244 citizens, with a total debt value of Dh394,586,000, will be exempted from their debts. The initiative is conducted in …
Dubai Taxi Company IPO raises Dhs1.2bn, 130 times oversubscribed
The final offer price has been set at Dhs1.85, resulting in an offering size of around Dhs1.2bn, according to Dubai Taxi Company …
Dubai Taxi IPO values company at $1.26bn, 130 times oversubscribed
Dubai Taxi Company has announced the successful completion of the bookbuild and public subscription process for its initial public offering (IPO) on the Dubai Financial Market (DFM). The final price …
UAE Issues New Dh500 Banknote; Circulation Starts Today
The UAE Central Bank recently introduced a new polymer Dh500 banknote slated for circulation from Thursday, November 30. The updated bill, retaining its iconic blue color for easy identification, was …
National Pavilion UAE wins abundant acclaim before closing doors in Venice
Guests in conversation at Aridly Abundant exhibition.
Dubai Taxi Company sucessfully completes bookbuild for IPO raising AED 1.2 billion with global offering 130 times oversubscribed
The IPO will result in total gross proceeds of around AED 1.2 billion (equivalent to approximately US$ 315 million) being paid to the Department of Finance representing the Government of Dubai (the …
Dubai Taxi Gets $41 Billion in Orders for $315 Million IPO
Dubai Taxi Co. received over 150 billion dirhams ($41 billion) in investor orders for its $315 million initial public offering, a record for the city, in a sign the Persian Gulf continues to be a …
Dubai bucks global dip in super-prime house sales; tops ranking
Bucking a global downward trend in super-prime residential sales, Dubai again led the world ranking of quarterly deals in this category of residences price..
Dubai Taxi Company valued at $1.26bn in oversubscribed offering
It is the biggest taxi operator in the emirate and currently holds about 44 per cent market share.About 96 million journeys were made on Dubai’s fleet of taxis in the first half of this year – with …
Dubai Taxi IPO oversubscribed 130 times; values company at Dh4.6 billion
Dubai Taxi Company on Wednesday announced that its initial public offering (IPO) was oversubscribed 130 times. The final offer price was set at Dh1.85, indicating a market value of Dh4.6 billion when …