A groundbreaking financial maneuver has just unfolded as the United Arab Emirates and China marked a significant milestone in the realm of digital currency, …
UAE bank ADCB Q4 net profit jumps 38%, beats forecasts
Abu Dhabi Commercial Bank ADCB.AD posted a 38 per cent rise in fourth-quarter profit, beating analysts’ forecasts, after higher interest and financing income, as well as a one-off gain from the sale …
Dubai-based Shuaa Capital not delisting, board confirms
A statement said: “With reference to the recent news about Shuaa Capital PSC going private and the intention of the company’s board of directors to delist it from the Dubai Financial Market, the board …
Emirates Development Bank recognized as best regional development bank at International Finance Awards
Award recognizes the bank’s long tenor patient debt approach and innovative financing solutions to empower businesses and drive economic impact …
Commercial Bank of Dubai’s net profits cross $708mln in 2023
CBD registered $1.34bln in total operating income during January- December 2023, higher by 29.50% year-on-year …
GCC banks to prove resilient in 2024 with UAE, Saudi banking systems leading: S&P Global
S&P Global anticipates overall stability in key metrics for GCC banks in 2024. Credit growth and profitability are expected to remain robust, with the UAE and Saudi banking systems leading the region.
UAE economy projected to grow by 5.7% in 2024 despite global woes
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, …
Saudi Arabia, UAE banking sectors to grow faster than rest of Gulf region in 2024
The sector’s growth in both countries is driven by strong credit demand led by non-oil sector and economic diversification programs …
UAE economy projected to grow by 5.7% this year: Finance Ministry official
The UAE economy is projected to grow by 5.7 percent in 2024 despite prevailing global economic challenges, including global economic slowdown and difficult financial conditions, a senior finance …
UAE Central Bank holds interest rate at 5.40%
The UAE central bank’s decision comes in response to the US Federal Reserve’s recent announcement to keep interest rates steady …
UAE economy projected to grow by 5.7% in 2024: Official
Al Khoori highlighted that the UAE’s non-oil foreign trade hit a record AED1.239 trillion in the first half of 2023 …
Commercial Bank of Dubai net profit soars 45.2% in 2023
Commercial Bank of Dubai (CBD) on Wednesday announced a record net profit of Dh2.65 billion for the year ended December 31, 2023, up 45.2 per cent year-on-year.
UAE Central Bank follows US Fed, holds key rate
The UAE Central Bank has followed US Federal Reserve and decided to maintain the base rate applicable to the overnight deposit facility (ODF) without chang..
Dubai records real estate transactions worth AED3bn Tuesday
Tuesday’s property deals included 530 sales transactions worth AED2.35 billion, 135 mortgage deals of AED564.27 million, and 55 gift deals amounting to AED180.68 million …
Dubai registers real estate transactions worth $639 million
Dubai real estate market recorded 530 sales transactions worth AED2.35 billion ($639 million), in addition to 135 mortgage deals of AED564.27 million, and 55 gift deals amounting to AED180.68 million …
Mashreq Bank’s 2023 profits skyrocket 130.5%; operating income hit $2.94bln
Dubai – Mashreq Bank achieved net profits attributable to the shareholders worth AED 8.58 billion ($2.33 billion) in 2023, up 130.30% from AED 3.72 billion ($1.01 billion) in January-December 2022.
Fintech Galaxy launches Open Banking compliance services in the UAE
Fintech Galaxy, a regional Open Banking and financial innovation firm, has announced the launch of its FINX Comply services in the United Arab Emirates, marking its full commitment to the country’s …