Thursday 21 November 2019

UAE bank deposits jump Dh17.8bn in October

Total bank deposits in the UAE increased by Dh17.8 billion in October, attributable to an Dh1.9 billion increase in resident deposits and an Dh15.9 billion increase in non-resident deposits, said Central Bank of the UAE (CBUAE).   The Money Supply aggregate M1 d


Investcorp buys US industrial portfolios for $800m

Investcorp, a leading global provider and manager of alternative investment products, today announced that its US-based real estate team has acquired a portfolio of 126 industrial properties totalling 10.2 million sq ft across five major metropolitan areas through two separate transactions fo


$500bn in family wealth ‘will pass to nextgen in Mena’

More than $500 billion (Dh1.8 trillion) worth of family wealth will be passed on to the next generations in the Mena region within the next decade, said experts at the 4th Wealth Arabia Summit (WAS) in Dubai, UAE. According to WealthX, a global intelligence solutions provider, mo


Wethaq launches first Sukuk using SWIFT gpi

Wethaq, a platform-as-a-service for financial institutions, said that it has issued the first pilot Sukuk on its securities market infrastructure for the Islamic capital markets under the supervision of the Dubai Financial Services Authority.   Al Ghurair Investments (AGI) a


Dubai FDI plans global promotional programme

Dubai FDI, the investment development agency of Dubai Economy, has announced its series of government global missions for 2020 with the aim of promoting the Dubai advantages.    The missions reflect Dubai FDI’s strive to support the emirate’s st


Amanat appoints Shuaa unit as liquidity provider

Amanat Holdings, a top healthcare and education investment company has appointed Shuaa Capital International, a subsidiary of Shuaa Capital, as a liquidity provider for its shares following approval from the Dubai Financial Market. Shuaa will act independently of Amanat within th


SABB, HSBC use blockchain for trade in Saudi, Bahrain

The Saudi British Bank (SABB) and HSBC have for the first time used blockchain technology in Saudi Arabia and Bahrain to finance international trade. The move puts Saudi Arabia and Bahrain at the forefront of global trade, introducing new levels of efficiency, security and transp


New insolvency law will bolster UAE finacial stability: MoF

The new UAE law on insolvency of natural persons will bolster the country's financial and economic stability, the Ministry of Finance (MoF) has stated.   MoF said although important, independent legislation dealing with the insolvency of a natural person thr


Tenmou hosts Mena Angel Investors Summit

Tenmou, an initiative designed to support Bahraini entrepreneurs, hosted the 8th Annual Mena Angel Investors Summit with Bahrain’s labour fund Tamkeen as a strategic partner on November 18. The Summit is one of the first official events of this year's Global Entrepreneu


UAE approves new insolvency law for individuals

The UAE Cabinet has approved a federal law to regulate cases of insolvency of natural persons, creating favourable conditions for individuals facing financial difficulties and protecting those who are unable to pay their debts from going bankrupt.   The new law

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