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UAE banks' savings deposits in Q1 surges 5pc to $78bnSavings deposits in the UAE's banking sector, excluding interbank deposits, attracted about AED13.8 billion ($3.7 billion) during the first quarter, reported Wam citing data from the Central Bank of UAE (CBUAE). The apex bank's statistics showed More… |
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Ritchie Bros. Dubai auction 'a big success'; draws record crowdRitchie Bros., the world's largest heavy equipment auctioneer, has announced the successful conclusion of its unreserved online auction held in Dubai early this month. The Dubai auction, marking the end of Q2, attracte More… |
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KSA needs to sustain non-oil growth momentum: IMF staffSaudi Arabia needs to sustain the non-oil growth momentum, maintain financial sector stability, continue mitigating risks of overheating, reverse declining total factor productivity and ensure inter-generational equity. An IMF mission to Saudi Arabia has noted More… |
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Top banks forge partnership to facilitate international tradeEmirates Development Bank (EDB), the key financial engine of the UAE economic development and industrial advancement, and Commercial Bank of Dubai (CBD), one of the leading banks in the UAE, have announced a strategic partnership aimed at enhancing international trade services. This co More… |
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FAB boosts leadership team with two new appointmentsFirst Abu Dhabi Bank (FAB) has added two new global banking veterans to its executive committee (ExCo) – Simon Thorn as Group Chief Compliance Officer and Neil Barrable as Group Chief Credit Officer. Thorn will oversee FAB’s regulatory compliance, More… |
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CBUAE committed to ‘protecting integrity’ of its financial systemThe Central Bank of the UAE (CBUAE) in 2023 remained dedicated to safeguarding the UAE’s financial and monetary stability and protecting the integrity of its financial system. Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and More… |
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Aggregate capital, reserves of UAE banks hit $129.8bnThe aggregate capital and reserves of banks operating in the UAE reached AED476.6 billion ($129.8 billion) at the end of March 2024, according to the latest statistics from the Central Bank of the UAE (CBUAE). The capital and reserves of banks operating in the More… |
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ADFW theming ‘Welcome to the Capital of Capital’ to returnAbu Dhabi Finance Week (ADFW), the flagship financial event of the MEASA region hosted by Abu Dhabi Global Market (ADGM), announced its third edition under the theme ‘Welcome to the Capital of Capital.’ The event will run from December 9 to 12, 2024. More… |
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Hayah Insurance secures licences to manage corporate pensionsHayah Insurance, a premier life insurance and financial services provider in the UAE, has secured a licence from the Securities and Commodities Authority (SCA) to provide comprehensive corporate pension management services. The development strengthens Hayah’s position as an indus More… |
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Fuse obtains DIFC licence to expand regional payment landscapeThe entry of Dubai-based payments company Fuse Financial Technologies, which recently secured its DIFC (Dubai International Financial Centre) licence, is expected to boost the UAE's growing digital remittances market, projected to exceed $7.5 billion this year and reach $8.5 billion by 20 More… |
