Dubai, UAE, October 15, 2018:   H.E Mubarak Rashed Al Mansoori, Governor of the Central Bank of the UAE: “The new Federal Government debt law lays the foundations for the development of a bond market in dirham denomination in the UAE. This is important as it will create deeper, more resilient financial markets, benchmark the yield curve, provide more diversified sources of financing, mobilise additional domestic savings and attract capital inflows. The development of vibrant public and private bond markets (including Sukuk) will also facilitate compliance with liquidity requirements (Basel III), and allow investors to balance risks in more diversified ......Read More

Abu Dhabi, United Arab Emirates, October 15, 2018:   Trade Bank of Iraq’s (TBI) continued commitment to accelerating economic growth and providing modern banking service in its home country have been recognised as it was named Best Iraqi Bank by a leading global financial publication. New York-based ‘Global Finance’ magazine rewarded TBI’s strong financial performance and its continuing initiatives to improve its international capabilities, presenting the award during a special ceremony held in Bali, Indonesia attended by leading financial institutions and other key influencers within the banking space. Faisal Al Haimus, Chairman & President of ......Read More

Tawteen, the National Program for Emiratization, supports UAE Nationals to work in the private sector    Abu Dhabi, 15 Oct 2018:   Her Excellency Farida Abdullah Al Ali, Assistant Undersecretary, Ministry of Human Resources and Emiratisation (MOHRE), bestowed the Tawteen Club Trophy to UAE Exchange, a leading global ......Read More

The Family Business Network (FBN) and Lombard Odier have rewarded three exceptionally promising young family business entrepreneurs as finalists in the 10th FBN NxG Lombard Odier Award. The finalists had the opportunity to pitch their projects to over 500 family business leaders at the FBN 29th Global Summit in Venice on 12th October, where the ......Read More

For the period ended September 30, 2018 Total Income reaches AED 8.5 billion, up by 13.6% YoY.  Group Net Profit at AED 3.7 billion in the nine months of 2018, up 12.1% YoY. Balance sheet grows by 7.4% in the nine months of 2018 reaching AED 222.8 billion. Dubai, October 10, 2018:  Dubai Islamic Bank (DFM: DIB), the first ......Read More

-2018 Guide to the World's Leading Tax Advisers recognizes Deloitte professionals for the eighth consecutive edition Dubai, UAE, October 09, 2018:  Euromoney listed 176 Deloitte professionals from 54 jurisdictions in its 2018 Guide to the World's Leading Tax Advisers. More than ten percent of the leaders in the guide are from Deloitte, making this the eighth consecutive edition that the Deloitte network is in the lead. This highlights the network's global strength and excellence in a wide range of areas of tax specialism. Dan Lange, Deloitte Global Leader, Tax and Legal says, "The Deloitte network is proud of the recognition given to our professionals in the 2018 ......Read More

Dubai, UAE, October 07, 2018:  The Central Bank announced that the Money Supply aggregate M1 decreased by 1.7%, from AED 496.4 billion at the end of July 2018 to AED 488.1 billion at the end of August 2018.    The Money Supply aggregate M2 also decreased by 1.8%, from AED 1302.3 billion at the end of July 2018 2018 to AED 1278.9 billion at the end of August 2018.    On the other hand, the Money Supply aggregate M3 increased by 0.1%, from AED 1556 billion at the end of July 2018 to AED 1556.9 billion at the end of August 2018.    The reduction in M1 was mainly due to a decrease of AED 7.4 billion in Monetary Deposits and of AED 0.9 billion ......Read More

Dubai, UAE, October 06, 2018:  Although entrepreneurship in the MENA region is booming, greater and more comprehensive cooperation between local governments is necessary in order to capitalize on recent momentum within the ecosystem, according to a senior World Bank representative. Ali AbuKumail, a Senior Private Sector Specialist at the ......Read More

Dubai, UAE, 4 October 2018:   The Ministry of Human Resources and Emiratisation announced that effective 14 October, a worker’s insurance scheme will replace the existing bank guarantees system.    The Ministry of Human Resources and Emiratisation announced that effective 14 October, a worker’s insurance scheme will replace the existing bank guarantees system. The new insurance scheme will apply to all private-sector employees, including domestic workers.  Details of the insurance scheme  Instead of a fixed amount of AED 3,000 that typically must be paid against every work permit application, employers will pay an insurance premium of AED ......Read More

Disbursement to unlock growth opportunities and expansion across the region, aligned with UAE National Innovation Strategy  Dubai, 02 October 2018 –   The Mohammed bin Rashid Innovation Fund (MBRIF), operated by the Emirates Development Bank (EDB), today announced a disbursement of AED 5.5 million to UAE headquartered Pure ......Read More

Research by HSBC has identified a country-sized, thriving and cosmopolitan population of almost 12 million people in the air every day.  This country, Flyland, has a Gross Domestic Product valued at $400.5 billion – just larger than that of Norway. Dubai, UAE, October 1, 2018:  For the people of Flyland – the 11.9 million individuals from around the world who take to the air every day – business is soaring, according to new research and analysis from HSBC.    The ‘country in the sky’ has grown to an annual GDP of $400.5 billion and adds more than $1.26 billion to its value each day. The data takes into consideration the ......Read More

Dubai, UAE, October 01, 2018:   The Asian Business Leadership Forum (ABLF) marks its 11th anniversary, on October 6, 2018, at the Armani Hotel, Dubai, with a special edition of the ABLF Awards dedicated to the Father of the Nation, the late Sheikh Zayed bin Sultan Al Nahyan, under the theme 'Leadership Legacies: Honouring the ......Read More

Abu Dhabi, UAE – 30th September 2018:   The Central Bank of the UAE (CBUAE) Governor H.E. Mubarak Rashed Al Mansoori welcomed H.E. Kanji Fujiki, Japan’s Ambassador to the UAE and a delegation of high ranking officials from the Japanese Government and banking sector, for a seminar to learn about the support systems and regulatory measures that make up the foundations for a thriving SME sector in Japan.  One of the most important areas of the UAE’s national agenda is the support and development of SMEs which have been identified as vital to the UAE’s transition to a knowledge-based economy, increasing the share of private non-energy sectors in ......Read More

Branches of Paris-based Siaci Saint-honore Group Dubai, UAE, September 27, 2018:  SIACI SAINT HONORE, provider of insurance brokerage and consulting services, known locally under the name of Alpha Lloyds & MSH, inaugurated their offices yesterday in the heart of Business Bay (One by Omniyat tower), Dubai, under the patronage of the Consul General of France in Dubai & Northern Emirates. Born in France, the group is now a leading actor in the European market and aims to become a global player with Dubai as one of their main hubs. Their positioning combines flexibility, innovation and client-driven approach.  Active in the UAE since 2006 with its affiliate MSH ......Read More

Dubai, UAE, September 27, 2018:  The Central Bank of the UAE (CBUAE) announced that, effective Thursday, 27 September 2018, it will raise interest rates applied to the issuance of its Certificates of Deposits in line with the increase in interest rates on US Dollar, following the Federal Reserve Board’s decision to increase the Federal Funds Rate by 25 basis points at its meeting of today.    The Repo Rate applicable to borrowing short-term liquidity from CBUAE against Certificates of Deposits has also been increased by 25 basis points.   Certificates of Deposit, which CBUAE issues to banks operating in the country, are the monetary policy instrument ......Read More

UAE, Dubai, September 26, 2018: Dubai Islamic Bank (DIB), the UAE’s largest Islamic Bank, has today marked the end of a hugely successful promotion with the announcement of the twelfth and final grand winner of its “Double Your Salary. Double Your Joy” monthly campaign, held at DIB’s Mall of the Emirates ......Read More

Friends Provident International (FPI) releases protection survey results for the fourth consecutive year   Dubai, UAE, September 25, 2018:  FPI’s fourth annual protection survey results show that brand reputation and price have the greatest influence on people’s decision to buy life and critical illness insurance in the UAE. These factors were considered more important than others, such as adviser recommendation, claim payment history and portability; which enables continuity of insurance coverage when relocating to another country.    The survey, conducted in collaboration with market research and data analytics firm YouGov, polled more than ......Read More