The United Arab Emirates’ central bank stood by its forecast for a return to growth in 2021 after lower crude prices and pandemic restrictions hit the Arab world’s second-largest economy.
( read original story …)
Banks reduce usage of UAE central bank stimulus package, governor says
Banks in the United Arab Emirates have reduced their use of a central bank stimulus scheme aimed at supporting liquidity during the COVID-19 pandemic, the central bank governor said. DUBAI, Feb 9 …
( read original story …)
Commercial Bank of Dubai Goes Live on UAE KYC Blockchain Platform
Commercial Bank of Dubai (CBD) has announced its go-live on the UAE KYC Blockchain Platform, an initiative which facilitates secure digital customer onboarding, instant bank account functionality, …
( read original story …)
Emirates Islamic launches new Business Banking centres in Dubai
UAE Islamic financial institution, Emirates Islamic, has expanded its Business Banking centre network to support small and medium enterprises.
( read original story …)
Emirates Islamic expands services to SMEs in UAE
Emirates Islamic, a leading Islamic financial institution in the UAE, has expanded its Business Banking centre network to support small and medium enterprises (SMEs) by launching two new facilities in …
( read original story …)
UAE’s top bank to debut in euro market amid Gulf bonds deluge
First Abu Dhabi Bank (FAB), the biggest lender in the United Arab Emirates, is planning a debut euro-denominated bond issuance, a document showed on Monday, the latest Gulf issuer to raise capital …
( read original story …)
Asia Distillates-Gasoil refining profits surge to over 6-month high
Asian refining margins for 10 ppm gasoil rose to their highest level in over six months on Monday, supported by a steady demand in India and China, while upcoming spring turnarounds at regional …
( read original story …)
UAE’s Masdar eyes further growth in US clean energy market after EDF deal
Masdar achieves first closing on the acquisition of 50% of a 1.6GW clean-energy portfolio of projects in the United States …
( read original story …)
UAE’s Utico plans IPO in 2021
Utico says its advisors are in negotiations to list the company through an Dh3bn valuation IPO in Dubai later this year …
( read original story …)
Dubai’s DIFC, Tradeling to accelerate evolution of region’s B2B digital ecosystem
Dubai International Financial Centre (DIFC) penned an agreement to provide Tradeling, the hyper-growing eMarketplace focused on business-to-business (B2B) transactions in MENA, a platform to speed up …
( read original story …)
UAE’s GDP contracted 7.7% in 2020
The UAE’s economy might have contracted by as much as 7.7 per cent in 2020, the steepest decline estimated for the GDP so far, with the core economic sectors — the hydrocarbon, tourism and retail …
( read original story …)
Anglo-Gulf Trade Bank Disrupts Global Trade Banking with Fenergo
The world’s first digital trade finance bank, Anglo-Gulf Trade Bank (AGTB) Limited (“AGTB”), based in the United Arab Emirates (UAE), …
( read original story …)
UAE ranks first regionally and fourth globally in the Global Entrepreneurship Index 2020
UAE has outperformed many of the major global economies such as the US, Canada, the UK, Australia, EU countries, China, Japan and South Korea in the overall rankings of the index …
( read original story …)
Dubai-based streaming service Starzplay receives $25 mln funding
The Dubai-based online streaming platform will use the funds from Ruya Partners to further strengthen the company’s geographic and customer reach as well as to acquire and produce original content, …
( read original story …)
UAE economy to grow faster untill 2024: IIF
US think-tank says UAE GDP to grow 2.3% in 2021, 3.0% in 2022, 3.4% in 2023 and 3.5% in 2024 The UAE economy will post faster growth each year over the next three years, helped by a range of pandemic …
( read original story …)
UAE: New Covid restrictions ‘to ease as vaccine coverage expands’
Quoting authorities in the UAE, the Washington DC-based body said restrictions imposed recently again about social distance to contain he pandemic will fade over time as vaccine coverage expands and …
( read original story …)
British Woman in Dubai Says ‘F*** You’ to Flatmate on WhatsApp, Gets Jailed for 2 Years
She sent message after an argument over who would use the dining table while working from home in October during the lockdown last year.
( read original story …)