Ajman Bank generated AED 49.15 million in net profit during the first quarter (Q1) of 2023, an annual hike from AED 33.92 million. Net operating income amounted to AED 231.57 million in Q1-23, higher …
Bank of Sharjah boosts capital by $218mln to $820mln
The bank said after its Annual General Meeting that this move is set to enhance its financial position and foster future growth …
UAE: Can a bank confiscate my vehicle if I default on loan payments?
Question: As a cost-cutting measure, I have had to take a pay cut. I have a year’s EMIs pending on my car loan, but no other liabilities. Can my vehicle be..
Dubai’s Growing Commodities Hub Is Now Enticing London Traders
London’s commodities merchants are following some of their Swiss peers to Dubai, as the emirate moves from being an outpost focused on crude to a major energy trading hub. (Bloomberg) — London’s …
Maktoum bin Mohammed’s statement on UAE Armed Forces Unification Day
UAE Armed Forces Unification Day marks a pivotal moment in the nation’s history – “Under the guidance of the leadership, the UAE’s armed forces have proven their ability to protect the nation and its …
Geidea backs Dubai FinTech Summit calls for harmonised regulatory framework in GCC
ZEX PR WIRE , One of Middle East’s largest FinTech companies Geidea has become the latest sponsor of the Dubai FinTech Summit, a platform it will use to call for a harmonised regulatory framework in …
Middle East IPOs: Is this time different?
As the Gulf IPO boom subsides, will better allocations for international investors, dual listings and better secondary-market liquidity be enough to ensure that the region’s equity capital markets can …
EIIC buys Mubadala’s 7.6% stake in Abu Dhabi Islamic Bank
Emirates International Investment Company, the strategic investment arm of National Holding, has acquired a 7.6 per cent stake in Abu Dhabi Islamic Bank, the UAE’s second largest Islamic lender by …
Dubai Empower Q1 net profit down 6%, misses estimate
Dubai Financial Market-listed Emirates Central Cooling Systems Corporation, known as Empower, said it made a net profit attributable to owners of 167.3 million dirhams ($46 million), nearly 8% lower …
UAE and Switzerland to strengthen financial, economic co-operation
The UAE, represented by the Ministry of Finance (MoF), has held the fifth financial dialogue with the Swiss Confederation in the Switzerland capital, Bern. Both parties discussed bolstering strategic …
GEMS stake sale: Talks with Abu Dhabi group in limbo
GEMS, which has about 60 schools across the Middle East and North Africa, considered an IPO in 2019 but Dubai’s decision to freeze school fees at the time disrupted those plans. The sector is now …
UAE holds the fifth financial dialogue with Swiss Confederation
The UAE, represented by the Ministry of Finance (MoF), held the fifth financial dialogue with the Swiss Confederation in the Swiss capital, Bern. Both parties discussed means of bolstering strategic …
Dubai records over 2.2 billion dirham in realty transactions
The mortgages included 94 villas and apartments worth AED538.96 million and 19 land plots valued at AED736.16 million. Dubai real estate market recorded 440 sales transactions worth AED830.88 million, …
Buying property in Dubai: Top buyer nationalities revealed
Betterhomes recorded a mortgage increase by 14% in the last quarter with a growing number of buyers favouring cash purchases. Buying property in Dubai: Top buyer nationalities revealed. Arabian …
Dubai International Financial Centre enacts new venture studio regulations
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, on Thursday announced the enactment of the new venture studio …
UAE holds fifth financial dialogue with the Swiss Confederation
The UAE, represented by the Ministry of Finance (MoF), has held the fifth financial dialogue with the Swiss Confederation in the Swiss capital, Bern. Both parties discussed bolstering strategic …
Dubai property deals hit another high on Wednesday at AED2.2bn
Wednesday’s deals included 440 sales transactions worth AED830.88 million, 113 mortgage deals of AED1.28 billion and 22 gift deals amounting to AED100.85 million Dubai property deals hit another high …