The UAE is growing as a wealth management hub according to HSBC global wealth chief Nuno Matos, but some entrepreneurs worry their family lacks skills, passion, and work ethic to inherit the business …
UAE: Gold prices slip in Dubai in early trade
Gold prices slipped in the UAE on Tuesday morning after reaching a record peak. In Dubai, the 24K variant of the yellow metal fell half a dirham to Dh263.75 per gram as compared to last night’s close …
Mastercard and First Abu Dhabi Bank agree exclusive long-term global partnership
F irst Abu Dhabi Bank, the largest bank in the UAE, has agreed a long-term global deal with Mastercard. It says the aim of the collaboration is to redefine the region’s payments …
Telegram Approaching Profitability and Considering IPO after Surpassing 900 Million Users
With revenue soaring and user numbers climbing, speculation swirls about a potential Telegram IPO to fuel further expansion.
British hedge fund trader goes on trial in Denmark accused of £1bn fraud
Sanjay Shah accused of scam that enabled companies he controlled to fraudulently claim tax refunds …
Telegram hits 900mn users and nears profitability as founder considers IPO
In rare interview, Pavel Durov says secretive messaging app is making ‘hundreds of millions of dollars’ from ads business …
Balyasny Hires Portfolio Managers in Hedge Fund Reshuffle
Balyasny Asset Management has hired several portfolio managers as part of a broader restructuring of the hedge fund’s equity trading businesses.
British trader on trial in Denmark for massive fraud
COPENHAGEN: A British hedge fund trader accused of defrauding Danish tax authorities in a billion dollar scam goes on trial in Copenhagen today, just days after his associate was handed an eight-year …
UK trader on trial on charges of defrauding Denmark in ‘cum-ex’ case
Anthony Mark Patterson, who is seen as Shah’s closest accomplice, was in February sentenced to eight years in prison in Denmark’s first criminal cum-ex trial. Patterson, who confessed to helping …
‘Sanadak’ launch a leap forward for UAE financial services: UAE Banks Federation
The UAE Banks Federation (UAEBF) expressed strong support for the Central Bank of the UAE’s (CBUAE) launch of “Sanadak”, the first Ombudsman Unit catering to consumers of Financial Institutions and …
Emirates Development Bank and KLAIM unveil working capital solutions
KLAIM was established in 2019 and has accelerated payment for more than 323,000 claims in the UAE. The fintech startup purchases insurance claims from healthcare providers and then collects claimed …
Retiring in Dubai: How much do you need to save to retire comfortably?
Dubai expats reveal their retirement income goals exceed $100,000 per year for comfortable living. Here’s how you can achieve this, according to personal finance experts …
UK trader heads to trial on charges of defrauding Danish state in ‘cum-ex’ case
COPENHAGEN: The criminal trial of a British hedge fund trader charged with defrauding the Danish state of $1.8 billion is set to begin on Monday, in a case that is expected to be …
Romance scams in Dubai: Women tricked out of up to Dh500,000 by fraudsters faking love
One expat’s boyfriend would ‘fine’ her thousands of dirhams every time she upset him, while another sold her car to keep up with her partner’s financial demands …
HH Sheikh Mohammed bin Faisal bin Sultan Al Qassimi elected as Chairman for United Arab Bank
Succeeding HH Sheikh Faisal bin Sultan bin Salem Al Qassimi, who chaired the bank’s Board of Directors for nearly fifty years …
Commercial Bank of Dubai AGM approves the highest-ever financial performance
During the AGM, the Board adopted the decision to distribute cash dividends at a rate of 50 per cent of the Bank’s net profit for 2023, being 44.3 per cent of paid-up capital as of 31 December 2023, …
Dubai: Property Prices To Increase Up To 14% In 2024, Says Binghatti CEO
Property prices in Dubai are expected to increase up to 14 per cent this year, driven by population growth, high demand for mortgages due to an expe …