Ambassador Yousef Al Otaiba Meets with Local Leaders to Identify Projects for UAE Funds; Celebrates Opening of UAE Consulate in Houston HOUSTON, March 8, 2018 /PRNewswire/ — United Arab Emirates (UAE) Ambassador to the US Yousef Al Otaiba met with Houston …
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Dubai blogger behind ‘I Retired Young’ on how he achieved financial independence
Deciding to retire at the age of 48 was a decision David Cox made quickly. Working as an accountant in the UAE construction sector, where he says business continued to be difficult in 2011 and 2012 following the global financial crisis, had taken it out of …
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55% of UAE homebuyers look to finance
The sharp rise to 55% of buyers financing their home is a sign of maturity in the UAE real estate market, as more and more residents take advantage of low borrowing costs to buy a property. Indeed, the pendulum officially swung from majority cash-buyers to …
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Dubai digital bank allows you to split bills via social media
Launched in early 2017, Liv. is the UAE’s first digital-only bank which curates a daily feed of personalised lifestyle promotions and offers for its customers, supported by a growing number of partner brands which include Careem, Zomato, Tesla and …
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UAE solar energy startup Pawame raises over $2m
Pawame, a UAE based solar start-up, has secured $2 million in funding … It offers the cost-effective, pay-as-you-go solar home systems to remote areas of Africa on a micro-finance basis. The funding raised will also fuel its expansion in Kenya and …
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Dubai index falls below key 3,200 level
The Dubai Financial Market General Index closed 0.72 per cent lower at 3,181.96 on Wednesday after trading in the range of 3,200-3,300 since February 17. “The index shall extend the fall to the 50 per cent and the 61.8 per cent Fibonacci retracement …
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UAE-based solar energy start-up Pawame raises over $2 million
The company provides reliable, cost-effective pay-as-you-go solar home systems to remote areas of Africa on a micro-finance basis, making it affordable for everyone. Its investors are primarily GCC based, with its largest shareholder being senior …
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London’s best argument for staging Aramco IPO: It is not New York
LSE officials can advance several plausible arguments why it should stage the Aramco IPO. David Hodson, veteran oil executive and financier and managing director of Dubai-based Blue Pearl Management, said: “The big thing London has going for it is that …
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Saudi Acwa Power picks JPMorgan, Citi for IPO: sources
Dubai: Saudi Arabia’s ACWA Power has selected JPMorgan, Citigroup to arrange the initial public offering of its shares, which could raise up to $1 billion, sources said. The two international banks have been selected as global coordinators and a third …
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Aramco IPO venue in the balance as Saudi prince embarks on trip
sources familiar with the IPO discussions have said. (Writing by Rania El Gamal; Additional reporting by Tom Arnold in Dubai, Jennifer Hughes in Hong Kong and John McCrank in New York; Editing by Pravin Char)
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DIFC Achieves Record Growth in 2017 as MEASA’s Leading Financial Hub
Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, reported today that it has achieved sustained growth of its financial community with the total number of …
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Creating opportunities for the UAE along the Belt and Road Initiative
The Dubai International Financial Centre (DIFC) has played a central role in this success story; the offering of independent regulators and judicial systems has already attracted many of China leading financial firms, especially with an agreement signed …
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Financial authority warns consumers of UAE scam
The latest forged documents seized by the Dubai Financial Services Authority (DFSA) include forged certificates of incorporation and money laundering clearance. Logos of the United Nations and Dubai International Financial Centre (DIFC) have also been …
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UAE bank donates $136k to help resolve Dubai rental disputes
The Rental Disputes Centre (RDC), the judicial arm of Dubai Land Department, has received a donation of AED500,000 ($136,000) from Emirates Islamic Bank to support insolvent tenants in rental claims disputes. The donation will be used to pay the dues in …
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Bank initiative seeking to remove Dh65.4 billion in cash from UAE streets
Maki Vekinis, the managing director of Emirates Digital Wallet, wants to take Dh65.4 billion off the streets of the UAE – not in a daring heist but by replacing notes and coins with digital money for the benefit of residents and banks and the over 1 …
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Dubai’s financial hub posts record growth in 2017
Dubai International Financial Centre (DIFC) posted a 1 percent increase in combined revenue in 2017, DIFC Governor Essa Kazim announced on Monday. In its 2017 annual review, DIFC noted that combined revenue rose from $218 million in 2016 to $221 million in …
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Citi implements its global digital strategy in UAE consumer and wealth business
Dubai: Citi, as part of realigning its consumer banking strategy across all its markets with focus on emerging affluent and affluent customers has set strong growth targets for the UAE and Gulf markets, said Francisco Aristeguieta, CEO of Citi, Asia.
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