Both main crude contracts jumped around one percent after CNN reported multiple US officials as saying the government had received...
This was a record 28% jump in annual net profit.
Abu Dhabi, UAE - Credit financing provided by the UAE national banks to the trade and industry sectors grew 6.1...The statistics showed that the cumulative balance of credit provided by national banks to the two sectors amounted to $99.9 billion
According to the apex bank’s data, the cumulative balance of credit provided by national banks to the two sectors increased on a monthly basis by 0.1 percent
Tokyo, Japan-- The UAE and Japan have discussed ways to strengthen the strategic partnership with a sharp focus on the...The UAE's Foreign Minister Sheikh Abdullah bin Zayed met with Japan's Prime Minister Fumio Kishida in Japan and discussed ways to boost strategic partnership
The foreign minister pointed to the "pioneering example of strategic cooperation" that has gone on for more than 50 years between the two nations
Dubai, UAE - Founded in 2022, Islamic Coin ($ISLM) has garnered a community of over 1.3M users, a feat accomplished...The coin which aims to cater to over 2 billion Muslims worldwide is the first Shariah-compliant decentralized ledger
Current market trends indicate that the global Islamic finance market will exceed $3.69 trillion by 2024
Abu Dhabi, UAE--UAE's bank investments climbed to a record level, touching $149.35 billion by the end of March, the highest...According to CBUAE, the investments showed a year-on-year growth of 16 percent as against $129 billion in March 2022
The stock investments hit $3.26 billion in March, a jump of nearly 0.8 percent from around $3.21 billion in December 2022
GCC authorities, however, acknowledge the accompanying challenges and are developing regulations to enhance digital banking experiences. A key requirement is...The next phase of the digital revolution in the region will see 5G services reaching two-thirds of the population by 2026, enhancing the end-to-end customer experience
By 2025, Saudi Arabia aims to boost fintech GDP contribution to $ 1.2bn and increase the number of fintech players. UAE and Kuwait are also making strides in digital banking.
Russia is receiving materials from Iran to build a drone factory that "could be fully operational early next year," White..."The Russia-Iran military partnership appears to be deepening," Kirby said in a statement, citing US intelligence information.
Washington estimates that Russia has received hundreds of attack drones as well as related equipment from Iran to aid Moscow's invasion of Ukraine.
Digging for salt is punishingly hard work, rewarded by an income that fluctuates according to whichever buyers happen to pass...Salt digging, carried on from generation to generation, was a thriving business, involving a commodity so precious that it was bought and sold across the Sahara and beyond.
Over centuries, hundreds of pits have been dug by hand and then filled with water to leach salt from the local rock.
Dubai, UAE -- A total of 3,397 real estate and properties transactions valued at AED 9 billion ($2.45 billion) were...The DLD data showed that 204 plots were sold for AED 1.52 billion, 2,562 apartments and villas were sold for AED 5.69 billion.
A total of 134 properties were granted between first-degree relatives worth AED 340 million and the sum of mortgaged properties was AED 1.52 billion.
- ABU DHABI, UAE - Khalifa Economic Zones Abu Dhabi – KEZAD Group on Friday announced the signing of a land...
This would be the first such manufacturing facility in the Middle East and is expected to be operational towards the end of 2024.
By partnering with Tubacex Group, KEZAD aims to further increase the localization and resilience of supply chains.
Dubai, UAE -- High net-worth individuals (HNWIs) in the Middle East are increasingly looking for alternative investments, such as private...The EY report also noted that the HNWIs, who are expected to grow by 10 percent to 225,000 in 2023, are increasingly adopting digital channels to manage their wealth.
According to the report, private equity is the most popular alternative investment among HNWIs in the region, followed by real estate and hedge funds.
