New law allows Dubai’s non-Muslims to write wills

Non-Muslims living in Dubai will be able to create a will under new laws issued by Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai, UAE Vice President and Prime Minister. The law, which is applicable to the wills and assets of non-Muslims based in ... ( read original story ...)

Dubai Investments says Q3 net profit up 4.8% to $95m

Dubai Investments, listed on the Dubai Financial Market, has reported net profit of AED350 million ($95.2 million) for the third quarter, an increase of 4.8 percent over the same quarter last year. The company said net profit for the first nine months of ... ( read original story ...)

UAE interest rates are expected to rise, mirroring US policy

The US Federal Reserve is likely to raise rates further to tighten its monetary policy and the UAE Central Bank will have to follow suit because the dirham is pegged to the dollar, analysts said. "The current central bank rate is 1.5 per cent, which has ... ( read original story ...)

Emaar unit is said to plan IPO at premium of as much as 20%

Dubai: Emaar Properties PJSC is expected to offer shares in its United Arab Emirates development business at a 10 to 20 per cent premium to the unit’s net asset value, according to three people familiar with the plans. The lead managers on the initial ... ( read original story ...)

Emaar to end UAE’s IPO drought

But with Emaar IPO-ing a subsidiary, and with Dubai having prospered irrespective of oil pricing, the chances for a successful IPO is very optimistic. Hadi Khatib is a business editor with more than 15 years' experience delivering news and copy of ... ( read original story ...)

Dubai’s DFM sees 1% fall in nine-month net profit

Dubai Financial Market Company on Monday announced a net profit of AED173.3 million for the first nine months of 2017, a 1 percent decrease compared to the same period of 2016. Net profit for the third quarter fell by 22 percent to AED27.7 million ... ( read original story ...)

UBF banking forum to focus on future of tech-based banking

... (UBF), a professional representative body comprising 48 member banks operating in the UAE, has released the full agenda on the Middle East Banking Forum. Currently in its fifth edition, the forum is a premier annual event for the region’s banking ... ( read original story ...)

UAE deposit growth surged as credit growth remained weak

Dubai: Deposits in the UAE’s banking system rose in September as credit growth continued to be anaemic, according to UAE Central Bank monetary data. Gross credit growth remained lacklustre in September at just 0.1 per cent month on month. This reflected ... ( read original story ...)