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 …
Parkin IPO: How Dubai’s parking fees, fines, zones could change
This means more vehicles on the road and correspondingly, an equal demand for more parking spaces across the city. Parkin PJSC – the sole operator of public parking spaces across Dubai – noted when it …
Dubai’s latest IPO: How do I buy shares in Parkin? All you need to know
(Dubai CSD is licensed and governed by the Securities … but that’s subject to change on demand for the IPO. The share offering’s subscription period will run from March 5 to March 12, which …
Major Dubai real estate boost allows digital rent payments with direct debit instead of ‘relic’ cheques
Dubai tenants and landlords can now pay and receive rent payments via direct debit and ditch out-dated cheque payments.
National Bank of Fujairah approves dividends of 15% at annual meeting
National Bank of Fujairah (NBF) held its Annual General Assembly Meeting (AGAM) on Friday at Novotel Hotel, Fujairah, United Arab Emirates (UAE), where shareholders approved the distribution of …
Abu Dhabi’s ADQ reportedly picks banks for Etihad Airways IPO
for a potential initial public offering (IPO) of Etihad Airways. Rothschild & Co is acting as an independent financial adviser to ADQ, the smallest of Abu Dhabi wealth funds and owner of the UAE’s …
What’s behind Dubai’s new 20% tax on foreign banks?
Why it matters: More than a dozen foreign banks operate in Dubai. Many of the prominent international banks in the city, such as JP Morgan and Deutsche Bank, are located in the Dubai International …
Dubai Ruler Introduces a 20% Yearly Tax on Foreign Banks
A recent legislation has been enacted about the taxation of foreign banks in operation in Dubai. The law applies to all foreign banks within the emirate, encompassing special development zones and …