ALBAWABA – The Central Bank of the United Arab Emirates has reported an increase in cash deposits to UAE Dirham (AED) 645.2 billion ($175.7 billion) in January, up by 5.6 percent. The figured compared …
AED 245.5 bn saving deposits in UAE banks by end of January 2023
Saving deposits in the UAE banking system, excluding interbank deposits, increased to AED245.537 billion by the end of January 2023, a YoY growth of approximately AED2.023 bn, or 0.92 percent, from …
UAE preserves its global leadership in the Nation Brand Performance index 2023
The UAE ranked 10th globally in Nation Brand Strength index and 16th globally and 1st in MENA in Nation Brand Value index. Issued by the world’s leading brand valuation consultancy “Brand Finance”, …
Listed UAE firms post higher rate of growth in profits than GCC peers
L isted companies in the UAE recorded a higher growth rate in net profits during 2022 compared to their peers in the rest of the GCC, primarily driven by earnings growth in the banking, real estate, …
UAE’s One Billion Meals Endowment campaign reaches Dh750 million in 20 days
The UAE’s One Billion Meals Endowment campaign has raised Dh750 … the money will be placed into endowment funds from which financial returns will be spent on helping to feed the needy. The aim is to …
Operation Microscope: Dubai Police bring down international gang targeting villas and bank clients
In a high-quality operation dubbed “Operation Microscope,” the Dubai Police General Command successfully dismantled an organised criminal gang specialising in residential villa thefts and targeting …
Emirates Development Bank partners with UAE Ministry of Economy in support of food security
Emirates Development Bank (EDB), a key financial engine for the economic development and industrial advancement in the United Arab Emirates (UAE), has partnered with the UAE Ministry of Economy’s …
UAE property developer DAMAC plans 3-year US dollar Islamic bond -document
Property developer DAMAC Real Estate Ltd (DAMAC) has mandated banks to arrange investor meetings ahead of a potential three-year U.S. dollar-denominated Islamic bond, or sukuk, expected to be at least …
HITEK to begin pilot project with major Sudanese bank
UAE-based HITEK, to start initial pilot programme in Bank of Khartoum branches in Khartoum East Sector, with a view to providing digital FM support for 140 branches throughout Sudan Leading UAE-based …
Dubai records over $327mln in realty transactions Wednesday
DUBAI: Dubai real estate market recorded 440 sales transactions worth AED1.1 billion, in addition to 93 mortgage deals of AED153.86 million, and 12 gift deals amounting to AED25.55 million on …
Ramadan and Eid Al Fitr in UAE: How residents can cut unnecessary expenses this holy month
During the holy month of Ramadan and Eid, the amount UAE residents spend on groceries and other items increases substantially, driven by impulsive buying, which pushes their budgets much higher.
Marex IPO prospects boosted by strong results, ED&F Man takeover – CEO
Record 2022 results and a successful takeover have boosted the potential for a listing of Marex when markets recover, the CEO of the commodities broker said on Thursday.
Dubai: Sheikh Hamdan Approves Endowments Strategy During Executive Council Meeting
Sheikh Hamdan said: “Dubai and the UAE remain at the forefront of sustainable endowments, reinforcing their contribution to humanitarian aid worldwide. The country’s commitment to endowments showcases …
US sanctions Turkey, UAE-based entities it accuses of aiding Russian war effort
A US official told Reuters the sanctions targeted entities in Turkey’s maritime and trade sectors that were “primarily” Russia-owned or Russia-linked, and that they are meant “as a warning shot in the …
Dubai records over AED1.2 bn in realty transactions Wednesday
Dubai real estate market recorded 440 sales transactions worth AED1.1 billion, in addition to 93 mortgage deals of AED153.86 million, and 12 gift deals amounting to AED25.55 million on Wednesday, data …
UAE’s GDP doubled, foreign trade jumped 5 times in 17 years: Sheikh Mohammed
Economic expansion in the country swiftly picked up after His Highness took over, with digital development and adoption simultaneously accelerating in the nation …
UAE visa reforms: How it has become easier for people to visit and live in the country
Multi-entry visa does not require a sponsor but the applicant should prove a bank balance of US$4,000 six months prior to applying. The UAE issues two types of transit visa: one for 48 hours which is …