Dubai: Indians in the UAE planning to send money home can expect exchange rates of UAE dirham against rupee turning in their favour next week as the Indian currency is expected to weaken further in …
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Licencing regime introduced for UAE’s retail payments service providers
Central Bank of UAE issues Retail Payment Services and Card Schemes Regulation Dubai: The Central Bank of the UAE (CBUAE) on Saturday unveiled the Retail Payment Services and Card Schemes Regulation, …
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Sharjah Islamic Bank posts Dh289.5 million H1 net profit
Dubai: Bank’s net operating profit before provisions were up by 25.6 per cent, amounting to Dh417.3 million for the first six months, compared to Dh332.3 million for the same period of the previous …
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VC does it for startups in the UAE
The UAE is building a strong foundation to create a secured, innovative and futuristic startup ecosystem led by policies that complement macroeco …
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UAE’s first digital bank launches app after securing final approvals
The digital only bank said it has launched its banking app to allow customers to start creating their current and savings accounts in less than five minutes. New survey shows 89% of consumers are now …
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Mubadala Seeks Over $20 Billion Value for EGA in IPO
Mubadala Investment Co. is seeking a value of more than $20 billion including debt for Emirates Global Aluminium PJSC as it inches closer to listing the business, according to people familiar with the …
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More IPOs expected in UAE as privatisation progresses
A bulging pipeline of business is livening up the UAE’s formerly sleepy equity capital markets, following a series of eye-catching transactions in recent weeks, following on from the largest IPO for …
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UAE and Hungary to strengthen economic, investment relations
As part of its endeavours to strengthen and activate means of economic and investment cooperation with various countries of the world, the UAE, represented by the Ministry of Finance (MoF), …
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UAE, Hungary sign agreement on promotion and protection of investments
The UAE, represented by the Ministry of Finance (MoF), has signed an agreement to promote and protect mutual investments with Hungary. The agreement, which was signed in Abu Dhabi, aims to enhance …
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FinTech: Why these startups are banking on a payments revolution in the Middle East
“We’re also going to see more and more opportunities surrounding open banking,” says Karim Dakki, CEO at UAE-based startup Klaim, citing buy now, pay later (BNPL) options as “the next important …
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Dubai regulator DFSA hits ex-Abraaj finance chief with record $1.7m fine
The former finance chief of the now-defunct Abraaj Group … 2019 collapse but was too afraid to speak out, according to the Dubai financial regulator. Ashish Dave was handed a $1.7m fine by …
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Meet Aziz Al Harbi of RoboStores, the Saudi expat who is home in the UAE
Dubai: Several expats who come to the UAE in search of greener pastures continue to live here. Their children grow up in the UAE and make it their home. Saudi expatriate Aziz Al Harbi, 32, moved into …
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Zomato IPO oversubscribed on first day
The IPO comes at a time when Indian and global markets are at near record highs. On Wednesday, the 30-share BSE Sensex closed at 52,904.05 points, which is 134.32 or 0.25 per cent higher than the …
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Dubai regulator hands ex-Abraaj finance chief $1.7m fine
Dubai’s financial regulator has imposed a $1.7m fine on the … the ruling said, citing the former finance chief’s written response to the regulator in March. Dave knew such activity was illegitimate, …
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Yahsat starts trading in Abu Dhabi after successful IPO
UAE-based satellite operator Yahsat announced the official listing of its shares and the commencement of trading on the Abu Dhabi Securities Exchange, following the successful completion of its IPO.
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Dubai Regulator Hits Ex-Abraaj Finance Chief With Record Fine
The former finance chief of the now-defunct Abraaj Group said he was aware of the fraud that led to the private equity firm’s 2019 collapse but was too afraid to speak out, according to the Dubai …
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UAE’s ADNOC invests over $750mln in drilling services to boost oil production
The investment is in the form of three contracts awarded by ADNOC Offshore to Schlumberger, ADNOC Drilling, and Halliburton …
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