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Posted on 06/08/2020

Foreign investment in Dubai plummets in first half 2020

DUBAI (Reuters) – Foreign direct investment in Dubai fell by 74% in the first half of the year compared to the same period of 2019, as the coronavirus pandemic stalled parts of the global economy.
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Posted on 06/08/2020

BNP Halts New Commodity Trade Finance Deals as It Reviews Unit

BNP Paribas SA has suspended new commodity trade finance deals while it reviews its involvement in the business in Europe, Middle East and Africa, according to people familiar with the matter.The …
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Posted on 05/08/2020

Dubai court tells bank to pay customer Dh4.6 million after his account got hacked

A Dubai commercial court order for a bank to repay a customer Dh4.5 million has been upheld by the Dubai Court of Appeals. The amount is worth of balance, siphoned off from his account. In October …
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Posted on 04/08/2020

Grab expands finance business with consumer loans services, wealth management

SINGAPORE – Grab, Southeast Asia’s biggest ridehailing firm, deepened its finance sector push on Tuesday by announcing that it will offer consumer loans services in Singapore and roll-out wealth …
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Posted on 04/08/2020

RAK Bank to close 25% of its branches next month

will shut down nine branches from next month as demand for digital banking grows among the UAE residents. The lender will close six branches in Dubai and one each in Sharjah, Khor Fakkan and Abu Dhabi …
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Posted on 04/08/2020

Markets Work: How Dubai Gold & Commodities Exchange Is Navigating Through Challenging Times

We sat down with Les Male, CEO of Dubai Gold & Commodities Exchange (DGCX … the bank has listed a gold-backed Exchange Traded Fund on the Saudi Stock Exchange using pricing data from the …
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Posted on 04/08/2020

Dubai records 190 FDI deals worth $3.3bln

Foreign direct investments (FDI) continued to flow into Dubai as the number of announced FDI projects reached 190 in the first half of 2020, attracting an estimated capital of Dh12 billion, reflecting …
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Posted on 04/08/2020

Coronavirus: UAE holds first in person cabinet meeting, approves economic initiatives

Google unveils first 5G-enabled phones, cuts price on base Pixel model HSBC says net profit plunged 96 percent as coronavirus pandemic took hold Ottomans in Arab World: Nothing but a name, a few …
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Posted on 04/08/2020

Dubai records 190 FDI deals worth Dh12 billion

Foreign direct investments (FDI) continued to flow into Dubai as the number of announced FDI projects reached 190 in the first half of 2020, attracting an estimated capital of Dh12 billion, reflecting …
( read original story …)


Posted on 03/08/2020

Dubai Investments reports 42% drop in half yearly profits

Dubai Investments has reported a 42 percent drop in net profit for first six months of the year, compared to H1 2019, blamed largely on the impact of the global coronavirus pandemic and a “one-off …
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Posted on 03/08/2020

UAE investors eyeing up sustainable opportunities

Affluent and high net worth individuals (HNWI) in the UAE are showing an increasing appetite towards sustainable investments, as they look to capitalise on green opportunities, according to the latest …
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Posted on 03/08/2020

UAE stock markets are yet to see a global liquidity rush

Awaiting a proper liftoff… UAE stock markets remain stuck in a narrow range. A rush of global fund inflows could be the solution. Image Credit: Gulf News Archive The UAE stock market indices, DFM …
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Posted on 02/08/2020

How a rising German FinTech star crumbled

The company had previously been lauded as a European FinTech star and was the newest member of the Dax 30 – the index of the biggest German companies listed on the Frankfurt Stock Exchange – with its …
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Posted on 02/08/2020

Ski Dubai, Dubai Sports Council to host first snow sports competition following COVID-19 closures

The inaugural event will be one of the first snow sports competition in the world to be held with social distancing measures in place …
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Posted on 02/08/2020

Dubai Courier App Raises Funds for Saudi Arabia Expansion

Fetchr secured at least $15 million in fresh funding to expand in Saudi Arabia as part of a turnaround plan that saved the Dubai-based courier app from collapse.
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Posted on 02/08/2020

Dubai Electricity and Water Authority cuts paper usage by 100% in bank guarantee transactions

Dubai: The (Dewa) announced that it has cut paper use by 100 per cent in all its bank guarantee related transactions, reducing time required to process such transactions by 80 per cent. Dewa, one of …
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Posted on 02/08/2020

Lost job in UAE and stuck in home country? Here’s how to get your settlement

Pursuant to your queries, we assume that you were employed by a company based in the mainland of UAE and therefore, the provisions of Federal Law No. (8) of 1980 Regulating Employment Relations in the …
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