CBUAE on UAE banks’ assets

Gross assets of UAE banks hit Dhs3.8tn in April

The central bank said banks’ gross credit increased by 0.1 per cent to Dhs1.89tn in April, driven by a 0.4 per cent growth in domestic credit

Majid Al Futtaim x Tabby to introduce flexible payment solutions Image Majid Al Futtaim

Majid Al Futtaim, Tabby to introduce flexible payment solutions

The collaboration will further enable customers to better manage their spending and make purchases more conveniently both in-store and online

Ahmed Al Naqbi, CEO Emirates Development Bank Image Emirates Development Bank

Emirates Development Bank launches UAE’s first agritech loans programme

The programme is targetted at farmers, local producers, technology providers, equipment suppliers, and those involved in the agriculture support ecosystem

eid al adha holiday

Eid Al Adha 2023 holiday for financial markets in UAE

The financial markets will close for Eid Al Adha holidays as per the guidance by Securities and Commodities Authority

UAE islamic banks assets

UAE Islamic banks’ Q1 2023 assets up 7.3%

The UAE central bank said Islamic bank’s gross assets increased by 7.31 per cent in Q1 2023, equivalent to Dhs44.3bn

fund

Silicon Valley investor plans $100m Saudi Arabia VC fund

Plug and Play is in talks with Jada to help kick-start the domestic venture capital industry

Abu Dhabi bourse, CASE join hands to boost cooperation

These 13 UAE-listed private joint-stock companies have Dhs8.3bn in capital

The inclusion of private joint-stock firms in the local markets helps companies access a large capital base

FINANCIAL LITERACY

How rethinking financial literacy can empower a new generation of investors

The financial literacy gap is partly driven by a younger demographic entering the capital market

Modirum

PayTabs becomes first to deploy Modirum 3D secure payment solutions in Saudi Arabia

The alliance aims to offer flexible and cost effective secure authentication solutions for PayTabs merchants, banks and processors

TECOM Group's Dubai Internet City

TECOM Group secures $2.1bn refinancing deal for existing facility

The unsecured loan facility is expected to have a positive impact on the company’s cash flow profile while providing funds to execute growth strategy

UAE, Qatar central banks maintain key interest rates

UAE, Qatar central banks keep interest rates steady, tracking US Fed move

The move by the Fed to leave its benchmark rate unchanged suggests that higher borrowing costs have made some progress in slowing inflation

UAE banking sector savings deposits

Savings deposits in UAE banking sector hit $71.6bn in March

The central bank said savings deposits in the UAE banking sector jumped 4.7 per cent year-on-year compared to Dhs251.3bn in March 2022

Commercial Bank of Dubai green bonds issuance

Commercial Bank of Dubai raises $500m from debut green bonds

The proceeds from debut green bonds will be used to finance projects eligible under CBD’s Sustainable Financing Framework

Image Courtesy: Salik Twitter

Dubai’s Salik warns investors against ‘high-return’ scams on social media

The toll operator has advised the public to exercise caution and vigilance when being targeted by such offers

NymCard acquires BNPL firm Spotii

NymCard acquires Middle East BNPL firm Spotii

The integrated platform will serve both B2C and B2B markets seamlessly, enabling instant instalment options

George Soros

George Soros hands control of Open Society Foundations to his son

The foundation founded by George Soros donates money to humanitarian and democratic causes ranging from criminal justice reform to climate change initiatives

UAE bank investments

UAE bank investments hit a record $149.3bn in March

Month over month, bank investments jumped 1.3 per cent from Dhs541.4bn in February

ETF ESG

Are ESG-themed ETFs losing steam?

Data shows that ETF issuers are losing tolerance for ESG as closures surge

economic substance

Insights: Economic substance regulations in the UAE

Economic substance refers to the tangible and real economic activity that a company carries out

Brookfield eyes $28bn Network International deal

Canada’s Brookfield acquires Network International for $2.8bn

The investment firm reached a deal to pay 400 pence per share in cash, which represents a premium of about 64 per cent to Network’s closing price on April 12

ADX partner Astana Exchange

Abu Dhabi bourse, Astana Exchange join hands to boost cooperation

The agreement will enable remote access for the exchanges’ respective brokerage companies through Tabadul

FTA reports incraese in Muwafaq Package registrations

UAE’s FTA reports growth in Muwafaq Package registrations

The package offers a variety of features and incentives that can help SMEs save money and get help with tax compliance

UAE SCA to-waive-fees-for-firms-listing-green-bonds-sukuk-in-2023-Getty Images-1061630236.jpg

Registration fee waiver for firms listing green bond, sukuk in local market: SCA

The SCA board approved the decision to exempt the fee for this year for companies planning to list their sustainability-linked bond or sukuk

DIFC, DIB backed AccelerateHER is back

DIFC, DIB-backed AccelerateHER returns for 7th edition, registrations open

The AccelerateHER network has successfully mentored over 100 women through more than 200 mentorship pairings and 120 workshops

DIB launches DIB alt image DIB

Dubai Islamic Bank launches DIB ‘alt’, consolidates digital offerings

DIB alt brings together more than 135 digital services via the DIB Mobile App, online banking, WhatsApp and ATMs

EDB partners with ADDED

Make it in the Emirates: EDB joins hands with ADDED

The development bank is playing a vital role in supporting the UAE’s industrial strategy by providing financial assistance and driving sustainable growth

UAE corporate tax_free zones

Corporate tax: UAE exempts free zones from business tax

The government said qualifying entities in the country’s economic free zones will be subject to a 0 per cent rate

EDB finance deals

Make it in the Emirates Forum: EDB unveils Dhs424m in financing deals

The deals come as part of the bank’s mandate to approve Dhs30bn in funding support to companies in the UAE within five key focus sectors

CBUAE, HKMA partnership

CBUAE issues new AML guidance for financial institutions

The central bank’s guidance highlights the risks of dealing with virtual assets and virtual asset service providers and their business models

Olam Group postpones IPO of Olam Agri

Olam Group delays listing agri unit on Saudi Exchange

The company will continue to pursue the IPO of Olam Agri at the next practical window without providing any approximate time frame