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 …
Salary, flexibility: Why UAE public sector employees are moving to private firms
The UAE government employees are switching to the private firms, as both sectors now offer the same timing, flexibility and pay, according to senior Emirati officials working in the public and private …
Kimberley Process Intersessional opens in Dubai to address global diamond trade challenges
The UN-mandated Kimberley Process (KP) Intersessional meeting opened in Dubai yesterday with resounding calls to accelerate consensus and decision-making to secure the industry’s long-term security, …
Emirates NBD launches fractional bonds on its new ENBD X mobile banking app
Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, has announced the launch of fractional bonds on its awards winning mobile banking app ENBD X. The …
GCC IPO Activity Down 73% Yoy In Q1 2024, Saudi Arabia Bucks Trend
GCC initial public offerings (IPOs) raised $931m in the first quarter of 2024, a 73% decrease compared to the same period in 2023, accordi …
UAE: MoF explores boosting cooperation with Saudi Arabia’s Government Expenditure and Projects Efficiency Authority
During the meeting, participants discussed how the MoF could share its experience in launching the Digital Procurement Platform, the framework agreements concluded, the diversity of service providers, …
UAE: Training, creating right environment for Emiratis responsibility of private firms, says official
Training and creating the right environment for Emiratis is the responsibility of the private sector companies, a senior official said on Monday.
ADCB rank first in banking, and second in UAE’s economic sector
Abu Dhabi Commercial Bank (ADCB) ranked as the top financial institution for customer experience excellence and the second across all sectors in the lat …
Sheikh Maktoum bin Mohammed appoints 4 new members to Dubai Financial Services Authority’s Board
The decision, issued by Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance of the UAE, and President of the Dubai …