Dubai International Financial Centre declared the opening of the DIFC Metaverse Platform on Monday in a proposal to draw technology innovators from a …
US Hedge Fund Davidson Kempner Buys $1.1 Billion UAE Bad Debt
US hedge fund Davidson Kempner Capital Management bought $1.1 billion in bad debt from Abu Dhabi Commercial Bank PJSC as the lender cleans up a balance sheet battered by a series of corporate defaults …
UAE’s ADCB sells NPL portfolio worth $1.1bln to investment funds
UAE’s Abu Dhabi Commercial Bank PJSC (ADCB) has sold a portfolio of non-performing loans (NPL) worth 4.2 billion dirhams ($1.1 billion) to investment funds advised by Davidson Kempner Capital …
Dubai real estate market ‘momentum’ to slowdown this year
Dubai will continue to attract strong demand from property investors and witness project launches this year, but the “momentum” in the market is expected to slow in the wake of global turbulences, …
UAE’s first auction of treasury bonds in 2023 oversubscribed 6.2 times
in collaboration with the UAE Central Bank as the issuing and payment agent. The latest auction received strong demand through the six primary bank dealers, the statement said. The “strong demand” was …
Abu Dhabi Islamic Bank reports 54% surge in 2022 profit
Net profit after zakat and tax for the 12-month period attributable to shareholders rose to Dh3.58 billion ($974 million), ADIB said in a statement on Monday to the Abu Dhabi Securities Exchange, …
Globaleye Launches New Digital Platform to Revolutionize Wealth Management in UAE
International independent wealth advisory firm, Globaleye, today launched a new hybrid wealth management solution, offering both – digital-only and hybrid wealth advice. Globaleye 3.0 will address a …
Dubai records over $544.5mln in realty transactions Monday
DUBAI – Dubai real estate market recorded 568 sales transactions worth AED1.32 billion, in addition to 72 mortgage deals of AED673.74 million, and 12 gift deals amounting to AED30.06 million on Monday …
Insights: How implementing VAT helped UAE’s accounting sector
The introduction of tax has put financial reporting in the spotlight and resulted in positive changes for the accounting industry …
UAE to give workers 1 year paid leave to set up companies, strategic deals approved
UAE’s Federal Authority for Government Human Resources signs partnerships to support self-employment initiative UAE to give workers 1 year paid leave to set up companies, strategic deals approved …
COP28 will boost Dubai’s and DIFC’s green drive
In the pursuit of net zero goals and the transition to a clean energy future, new forms of capital and exchange are emerging to fund climate action, reinforcing the …
ADNOC eyes valuation of at least $50 bln for its gas business – sources
The Abu Dhabi National Oil Company (ADNOC) is eyeing a valuation of at least $50 billion for its gas business slated to float this quarter, two sources familiar with the matter said, setting the stage …
Indo-Arab professionals launch Funding Possibilities in Dubai to fill a gap for new-age businesses
Funding Possibilities will help fund innovative and disruptive new-economy businesses to grow and in turn help the UAE economy to expand fast …
UAE’s Plan to Make Crypto a Part of its Economic Development – Is it Viable?
UAE’s Plan to Make Crypto a Part of its Economic Development – Is it Viable? – Introduction The march towards crypto adoption is fast spreading across the globe today, with the …
Meydan Free Zone receives the “Best Digital Free Zone in the UAE” award
Meydan Free Zone, a technology-driven ecosystem providing businesses with a robust, innovative environment, has been awarded “Best Digital Free Zone in the UAE” at the Global Business Outlook Awards …
Telr, first payment gateway to achieve NESA Certification in UAE
This certification is an acknowledgment of the company’s commitment to providing its merchants with the highest level of security …
Five key trends shaping the financial services sector in 2023
Increasing demand for hedge funds, Middle East IPO boom, strengthening family businesses, emergence of Dubai as a slobal fintech capital, and accelerating climate finance in the UAE Five key trends …