The UAE’s real overall output growth rebounding to 3.9 per cent, primarily on the back of a recovery across diverse sectors of the economy, the Central Ban..
DIFC boss predicts UAE and Saudi IPO boom in 2024
The CEO of Dubai International Financial Centre (DIFC), Arif Amiri, has anticipated a major economic boost in 2024, supported by several upcoming government Initial Public Offerings (IPOs) both in the …
Aggregate capital, reserves of UAE-based banks hit AED476.6 billion at end of March 2024
The aggregate capital and reserves of banks operating in the UAE reached AED476.6 billion at the end of March 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE).The …
Aggregate capital, reserves of UAE-based banks hit AED476.6 billion at end of March 2024
The aggregate capital and reserves of banks operating in the UAE reached AED476.6 billion at the end of March 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE).The …
UAE Central Bank upholds base interest rate after US Federal Reserve decision
On Wednesday, the Central bank of the United Arab Emirates (UAE) announced its decision to keep the “base rate” on overnight deposit facilities steady at 5.40 percent. This decision mirrors the recent …
Dubai-based payments firm Fuse secures DIFC license to boost regional payment operations
Fuse’s DIFC licence is regulated by the Dubai Financial Services Authority (DFSA) Dubai-based payments firm Fuse Financial Technologies (Fuse) announced securing the Dubai International Financial …
UAE: Why Indian expats should get life insurance as soon as they arrive in Emirates
The demand for life insurance among non-resident Indians (NRIs) in the UAE is rising, fuelled by affordable premiums, good returns, promising economic growth opportunities, and the increasing number …
Pak may borrow $23 bn in next fiscal year to finance development plans
Pakistan has planned to borrow a minimum of USD 23 billion in the next fiscal year, including the rollover of a bilateral debt of USD 12 billion, to finance its development plans and meet its external …
Navigating the shifting tides in commercial banking in 2024
As we stride into 2024, the UAE banking sector is accelerating digital transformation through unified, user-friendly banking services. The challenges of the past have paved the way for a more …
UAE, Saudi leaders expected at Italy’s G7 summit as Meloni boosts Gulf ties
Late last month, Saudi Finance Minister Mohammed bin Abdullah Al-Jadaan attended … the official Saudi Press Agency reported. Italy-United Arab Emirates trade ties are similarly on the rise. The UAE …
UAE holds rates following Fed decision
The UAE Central Bank on Wednesday decided to maintain the base rate applicable to the overnight deposit facility at 5.40 per cent.The UAE’s decision follows that of the US Federal Reserve, which on …
UAE Central Bank Holds Rates Following Fed Decision
The UAE’s decision follows that of the US federal Reserve, which on Wednesday decided to leave interest rates unchanged. The UAE follows US monetary policy as the dirham is pegged to the dollar.
CBUAE issues March 2024 monetary and banking summary report
The Central Bank of the UAE announced that the money supply aggregate M1 increased by 3.7%, from AED847.0 billion at the end of February 2024 to AED878.1 billion at the end of March 2024. This was due …
Dubai Duty Free names South Korean and Indian as latest $1m prize draw winners, reveals ticket buyer wins luxury car prize for second time
Dubai Duty Free names prize winners, including millionaires and a lucky ticket-buyer winning a car for a second time …
Dubai International Financial Centre Insurance Association Announces Partnership with ACORD
The Dubai International Financial Centre Insurance Association (DIFCIA), an industry association comprised of the whole insurance, reinsurance, and wealth management sectors within the DIFC and wider …
UAE EGA’s acquisition of Leichtmetall fully funded by green loan
EGA completed the acquisition of Leichtmetall in May. However, no financial details of the deal have been disclosed …
Dubai: Expat wins $1 million after 24 years of buying Duty Free raffle tickets
A 49-year-old Indian expat in Dubai has finally hit the jackpot after 27 years of buying Dubai Duty Free raffle …