UAE launched a new initiative to create a unified global legal and legislative framework for the Islamic finance sector. This was announced by Sheikh Hamdan bin Rashid Al Maktoum, Minister of Finance …
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UAE-based Growmore Group Acquires Medicinos Bankas, Lithuania’s Leading Retail Bank With Assets of US$395 Million
Backed by diversified revenue streams, a resilient net interest margin and sustained profitability, Medicinos Bankas has healthy fundamentals with deposit portfolio at US$334 million. Nitin Shelke, …
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UAE-based Growmore Group acquires Medicinos Bankas
UAE-based Growmore Group has bought Medicinos Bankas, Lithuania’s leading retail bank with assets of $395 million. The acquisitions marks the expansion of the global investment and financial services …
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UAE launches initiative to build unified global legislative framework for Islamic finance
Sheikh Hamdan bin Rashid Al Maktoum, Minister of Finance and Governor of the Islamic Development Bank for the United Arab Emirates, on May 6, announced the launch of a new initiative to create a …
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UAE takes lead to set up unified legislative framework in Islamic finance
The UAE has launched an initiative to create a unified global legal and legislative framework for the Islamic finance sector that will enable the Islamic economy to expand its reach and implement …
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Oman crude crosses $30-mark on Tuesday
Muscat: The Oman crude for July delivery was traded at Dubai Mercantile Exchange for $30.05 per barrel … Reflecting hopes that the oil industry may have passed the worst of coronavirus-induced …
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New UAE app allows for quick detection of coronavirus cases
The free app is a combination of the Stay Home and Trace Covid apps previously launched by the Department of Health An app has been launched by the Departments of Health in Abu Dhabi and Dubai to …
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Dubai fund snaps up $1.25bn Och Ziff stake
Dubai International Capital, the state-backed investment fund, is set to buy a 9.9 per cent stake in Och-Ziff Capital Management, the American hedge fund. Och-Ziff yesterday agreed to sell the …
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UAE launches initiative for global legislative framework for Islamic Finance
Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai, Minister of Finance and Governor of the Islamic Development Bank for the United Arab Emirates, announced the launch of the new initiative …
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Dubai developer Nakheel slashes salaries due to coronavirus crisis
Dubai property developer Nakheel has slashed salaries by as much as 50% as it tries to weather the coronavirus crisis, according to an internal email seen by Reuters, and its chief executive resigned …
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Egypt raises $2.2bln from IPOs in 10 years: Report
Cairo – Mubasher: The Egyptian Exchange (EGX) raised $2.2 billion from 23 initial public offerings (IPO) over the last decade, PwC said in its latest report: “Africa Capital Markets Watch 2019.” …
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Shaken markets: Foreign investors go low on UAE stocks with record selloffs
I paid an annual fee of Dh1,500 but the bank blocked my credit card for no reason…” Dubai: Foreign investors remain squeamish about taking an exposure in UAE stocks, with March seeing a record …
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UAE banking sector remains resilient to global challenges
The UAE’s banking sector remains strong and resilient despite several challenges posed by global economic developments last year, according to the 2019 annual report of the Central Bank of UAE (CBUAE) …
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Post COVID-19: UAE banking sector remains resilient to global challenges
The strength and resilience of the banking sector will be tested, and the CBUAE shall continue to play its role in terms of guiding the banking sector through this period, with …
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UAE Non-Oil Private Sector Hits Second Consecutive Record Low: PMI
The seasonally adjusted IHS Markit UAE Purchasing Managers’ Index (PMI), which covers manufacturing and services, fell to 44.1 in April from 45.2 in March. The 50.0 mark separates expansion from …
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IMA Recognizes Success of Finance Professionals as Part of International Management Accounting Day Celebrations
IMA® (Institute of Management Accountants), is celebrating International Management Accounting Day on May 6, 2020. This initiative aims to honor members of the management accounting community for …
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UAE Central Bank says GDP grew 1.7% in 2019
The overall real GDP of UAE is estimated to have grown by 1.7 per cent in 2019, according to the Central Bank of the UAE. “The UAE hydrocarbon sector is estimated to have exhibited a growth of 3.4 per …
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