The Central Bank of the UAE has issued two new regulations that apply to payment systems operating in the country and payment systems that offer clearing or settlement in dirhams outside the UAE. The …
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Last week in startup funding: Policybazaar’s pre-IPO round, space tech funding and more
Insurance marketplace Policybazaar raised $75 million in the run-up to its public offering- the largest deal in the week ended March 19, 2021. Policybazaar raised $75 million led by Falcon Edge …
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UAE-GCC states trade tops $62 billion in 2019
Younis Haji Al Khouri, Under-Secretary of the Ministry of Finance (MoF) noted that cooperation with its GCC partners lies at the heart of UAE’s economic priorities, reported Emirates news agency Wam.
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What the growing trade gap means for UAE businesses
Before Covid-19, the world’s trade finance gap stood at $1.5 trillion, according to the Asian Development Bank (ADB) and International Chamber of Commerce (ICC). Maham Siddique, Regional Marketing …
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UAE gross bank assets hit AED3.17 trillion
The UAE gross bank assets, including bankers’ acceptances, rallied to AED3.172 trillion by the end of January 2021, figures by the Central Bank of the UAE have shown. Gross credit in the banking …
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UAE economy to grow 2.5% in 2021 after shrinking 5.8% last year -c.bank
The United Arab Emirates economy contracted 5.8% last year but is likely to post 2.5% growth this year, the UAE central bank said in a report on Thursday. DUBAI, March 18 (Reuters) – The United Arab …
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Policybazaar gets $75 million from Falcon Edge for UAE business
The UAE arm is a subsidiary of EtechAces Marketing & Consulting, which runs Policybazaar and Paisabazaar, and is aiming for an initial public offering (IPO) this year. Policybazaar said the financing …
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India, UAE vow to strengthen energy cooperation – minister
India and the UAE on Wednesday discussed ways to strengthen energy cooperation, India’s oil minister Dharmendra Pradhan said, despite the South Asian nation asking its refiners to reduce their …
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How the UAE’s largest Islamic bank helped 54,000 customers during pandemic
The UAE’s largest Islamic bank on Wednesday said it has provided relief measures totalling AED9 billion ($2.45 billion) to more than 54,000 customers to mitigate the impact of the coronavirus pandemic …
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Biotech startup Nano Cures raises $90M ‘pre-IPO’
Nano Cures Inc., a clinical-stage biotechnology startup in Austin, announced last week a $90 million “pre-IPO” funding round that was led by a $20 million investment from Opulence Capital Management, …
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Saudi mall operator Arabian Centres plans $500 mln sukuk – sources
Arabian Centres, which operates 21 shopping centres across Saudi Arabia, made its debut in the international sukuk market in 2019 with a $500 million issuance, after going public …
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Israel and UAE Sign Agreement to Fight Terror Financing and Money Laundering
The establishment of relations between Israel and the UAE created “tremendous new economic opportunities,” but fearing that criminal and terrorist financiers may take advantage of the opportunities to …
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OPPO’s most innovative camera smartphones and first-ever “all-5G” Reno5 series launches in the UAE
Global technology brand, OPPO, broke new ground today by introducing 5G-only models at the grand launch of its latest Reno5 series of smartphones in the UAE. At an engaging virtual event themed …
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Dubai Islamic Bank Shareholders Approve 20% Dividend as Robust Growth Continues Despite Economic Challenges
Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, successfully concluded its Annual General Meeting (AGM) held remotely at the bank’s headq …
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UAE gross bank assets at Dhs3.172 trillion at the end of January
Gross credit in the banking system grew from Dhs1.779 trillion by the end of December 2020 to Dhs1.779.2 trillion in January 2021 …
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MIDEAST STOCKS-UAE bourses fall as banks drag, ex-dividend stock hits Qatar
Stock markets in the United Arab Emirates (UAE) traded lower on Wednesday, dragged down by banking shares, while the Qatari index was pressured by Qatar Navigation trading ex-dividend. March 17 …
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Hedge-Fund Trader Shah Now Faces Cum-Ex Charges in Germany
Sanjay Shah, the founder of hedge-fund Solo Capital Partners LLP, was charged in Germany with money laundering over trades linked to the Cum-Ex tax scandal.Shah and six others were indicted by Hamburg …
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