Search Results for: UAE
UAE’s First Bitcoin Startup Shuts Down
May 25th, 2016
Bitcoin payments firm YellowPay, by some accounts the first industry startup in the Middle East, has shut down for undisclosed reasons according to members of its founding team. Forming in 2014, YellowPay had sought to promote bitcoin as an e-commerce solution in ...
UAE cities ranks high among world’s fastest growing retail markets
May 16th, 2016
CBRE: Abu Dhabi and Dubai ranks high in retail development Abu Dhabi and Dubai, UAE, have together ranked among the top 17 of the most active cities for shopping centre development, according to CBRE’s latest Global Shopping Centre Development ...
UAE’s largest lender posts 10.7% drop in Q1 net profit
April 28th, 2016
National Bank of Abu Dhabi, the emirate’s largest lender by assets, on Wednesday posted a 10.7 percent fall in first-quarter net profit as revenues dropped and impairment charges for bad loans rose. NBAD, almost 70 percent owned by an ...
Ras Al Khaimah could be UAE’s ‘new St Tropez’
April 28th, 2016
Ras Al Khaimah could be the next St Tropez, according to Filippo Sona, Colliers International’s head of hotels for the Middle East and North Africa. “Where will you see the best growth coming up five years?” said Sona, after ...
One of the leading Islamic financial institutions in the UAE announced the launch of Social Banking via Twitter
April 26th, 2016
Emirates Islamic, one of the leading Islamic financial institutions in the UAE, today announced the launch of Social Banking, offering banking services via Twitter, making it the first Islamic bank in the UAE to offer banking services on a ...
A&O and Linklaters win advisory roles on $965m financing of Travelex and UAE Exchange
April 7th, 2016
Allen & Overy (A&O) and Linklaters have won roles advising on a $965m combined financing deal for UAE Exchange Centre and Travelex Holdings backed by nine banks, to support both forex companies’ growth plans. The $890m loan financing with a $75m accordion ...
Saudi Arabia and UAE government bank deposits fall
March 31st, 2016
Government bank deposits continued to fall in Saudi Arabia and the UAE last month, as the low oil price hits the balance sheets of lenders in both countries. In Saudi Arabia, government deposits fell 6.6 per cent in February, ...
Spate of broker licences sparks hope in UAE
February 24th, 2016
The distribution of new broker licences in the United Arab Emirates (UAE) in the first few weeks of 2016 has raised hopes the industry regulator is poised to further open up the market. The Insurance Authority (IA) has licensed ...
The UAE is offering India free oil
February 16th, 2016
UAE will stock 6 million barrels of oil in one compartment of Mangalore facility. Of this, 0.5 million tonnes will belong to India and it can use it in emergencies. In a first of its kind deal, UAE’s national ...
Central Bank of the UAE and ADGM sign MOU to enhance Banking & Financial supervision
February 8th, 2016
The Central Bank of the UAE and the Financial Services Regulatory Authority of Abu Dhabi Global Market (ADGM) signed a Memorandum of Understanding on 4 February 2016 to formalise a framework to enable ongoing cooperation on the supervision of ...
