The federal government posted a budget surplus of Dh9.75 billion in the first half of 2020, and a surplus of Dh7.95 billion in the second quarter, up from a surplus of Dh1.8 billion in the first …
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UAE posts Dh9.75 billion in Q2 budget surplus
Revenues in the second quarter were at Dh34.744 billion and expenditures were at Dh24.997 billion, state news agency WAM said on Monday, citing a finance ministry report. For 2019, data from the UAE …
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UAE government records budget surplus in second quarter
A second quarter surplus of Dh7.95bn followed on from a first quarter surplus of Dh1.8bn, according to the Ministry of Finance …
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Israel Sees Trade With UAE at $4 Billion a Year
The UAE has since announced it was scrapping an economic boycott on Israel and officials from the two countries have said they were looking at cooperation in defense, energy, medi …
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UAE posts budget surplus of $2.65 bln in Q2 – state news agency
The United Arab Emirates federal government posted a second-quarter budget surplus of around 9.75 billion dirhams ($2.65 billion), state news agency WAM said on Monday, up from a surplus of 1.8 …
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Biggest IPO in history? China’s Ant could trump Saudi Aramco’s $29.4bln
Chinese financial technology firm Ant Group is expecting a mega IPO of up to $30 billion, which would trump Aramco’s $29.4 billion IPO, according to reports, and make it the world’s largest ever.
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First Abu Dhabi Bank to restart talks on Bank Audi’s Egypt unit, say sources
First Abu Dhabi Bank (FAB) plans to restart talks to buy the Egyptian business of Lebanon’s Bank Audi, two sources familiar with the matter said. FAB, the United Arab Emirates b …
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First Abu Dhabi Bank wants to restart talks to buy Bank Audi’s Egypt unit
UAE lender put talks on hold in May due to difficult market conditions Cario/Dubai: First Abu Dhabi Bank (FAB) plans to restart talks to buy the Egyptian business of Lebanon’s Bank Audi, two sources …
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UAE’s ‘economic substance laws get a tweak
The UAE’s ‘Economic Substance Regulations’ have gained momentum again. While not a tax, it aims to determine that UAE entities undertaking ‘relevant activities’ have adequate ‘economic substance’ in …
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Top UAE banks’ profits to remain under pressure for the whole of 2020
Low interest rate environment and increase in impairments to remain big challenges Dubai: Earnings trend of large UAE banks in the first half of 2020 point to subdued profitability for these banks …
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How Dubai provides equal opportunity for public and private sectors
According to market sources, the Dubai Government wants to give private businesses enough space to operate and not have to constantly worry about whether government-funded entitie …
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Dubai will make government-owned companies play by private sector rules
It is gradually removing funding advantages government-owned companies have Dubai: Going forward, government-owned businesses in Dubai will not compete directly with the private sector. That, in a …
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Dubai says to continue infrastructure spending after $2bn bond issuance
The Government of Dubai has announced the successful completion of a $2 billion bond issuance. The Department of Finance (DOF) said the issuance consisted of ten-year Islamic sukuk of $1 billion at a …
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UAE moves up two spots in Global Innovation Index to 34th position
The UAE – the Arab world’s second-largest economy – jumped two places in the Global Innovation Index 2020 to rank 34th out of a total of 131 countries. The index, released on Wednesday by the World …
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UAE’s Ministry of Finance launches next phase of Mohammed Bin Rashid Innovation Fund
The new phase will focus on the fund and its programmes operating under one national umbrella The UAE’s Ministry of Finance is launching the next phase of the Mohammed Bin Rashid Innovation Fund …
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Stop or suspend West Bank annexation? Devil in the detail for Israel-UAE deal
A difference between English and Arabic versions of a trilateral statement after an historic flight from Israel to the UAE has been seized upon by Palestinians to suggest the Gulf state has overstated …
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DFM honours 8 brokerage firms with five star rating during the second round of its brokers’ excellence scheme
Hassan Al Serkal, CEO of DFM, and Hamed Ali, CEO of Nasdaq Dubai and Deputy CEO of DFM, presented the Five Stars Rating certificates to 8 brokerage firms …
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