Saturday 6 June 2020

Abu Dhabi imports down 24.7pc in Q1, says report

The Import Unit Value Index of Abu Dhabi decreased by 24.7 per cent from 138.5 per cent in the first quarter of 2019 to 104.3 per cent in the comparable period of 2020, according to the Statistics Centre - Abu Dhabi.   Only food and beverages imports increased f


Dubai Investments announces 10pc dividend

Dubai Investments, a leading investment and a public joint stock company listed on the Dubai Financial Market (DFM), has announced distribution of 10% cash dividend to the shareholders for the financial year ending December 31, 2019. A proposal to this effect was approved by the shareh


Pepperstone opens Dubai office

Award-winning online FX and CFD broker Pepperstone has announced the opening of its DFSA entity in Dubai, strengthening the broker's fintech offering globally in its 10th year of operation.    "We're entering the Middle East market with a truly


New DIFC Data Protection Law enacted

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, has enacted the new Dubai International Financial Centre (DIFC) Data Protection Law, in his capacity as the Ruler of Dubai.    The promulgation of the law enab


Sharjah announces $1bn liquidity boost for Covid-hit businesses

Sharjah Finance Department (SFD) has established a framework worth Dh4 billion ($1.1 billion) to boost liquidity into the northern emirate's banking system.   The move is aimed at providing additional financial assistance to all businesses impacted by the ou


ECI reaffirms backing as UAE businesses restart

Etihad Credit Insurance (ECI), the UAE’s federal export credit company, has reaffirmed its commitment to support companies operating in the country in order to help them recover from the implications of Covid-19. During these challenging times, ECI continues to fulfil its m


Saudi economic activity slows over Covid-19: report

The Covid-19 pandemic has brought the world economy to a stand-still and this has somewhat resulted in a decline in activity in healthcare, real estate, hotel, travel, and tourism in Saudi Arabia during April, a report said. Industries and manufacturing units continued to remain


Bank ABC in founding partnership deal with Bahrain Fintech Bay

Bank ABC, Mena’s leading international bank, along with its subsidiaries, the digital and mobile-only ila Bank, and the MEA region’s leading payment solutions provider and fintech enabler, Arab Financial Services (AFS), has entered a founding partnership with Bahrain Finte


Bayut, Dubizzle merge to set up $1bn company in Dubai

UAE-based Emerging Markets Property Group (EMPG) and OLX Group, owners of home grown technology firms Bayut and Dubizzle, have announced the merger of their Mena and South Asia operations to set up a Dh3.6 billion ($1 billion) unicorn company in Dubai.   The mer


DIFC companies to benefit from Master Employee Health Insurance

Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, has signed a memorandum of understanding (MoU) with EC3 Brokers to implement a Group Health Insurance Master Policy.  

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