UAE’s ADIB buys additional stake of 2.4% in Egyptian unit
UAE-based Abu Dhabi Islamic Bank has purchased an additional stake of 2.4% in Abu Dhabi Islamic Bank Egypt (ADIB) for EGP 155.328 million, equivalent to an average price of EGP 16.18 per […]
Smart meters see 10-fold growth in Dubai in 7 years
Dubai Electricity and Water Authority (Dewa) said that the number of smart meters in Dubai has increased from 200,000 in the first phase which was completed in January 2016 to […]
Dubai regulator upholds $135.6mln fine on Abraaj founder and former CEO
Dubai’s financial regulator said on Tuesday it upheld a $135.6 million fine on collapsed private equity firm Abraaj Group’s founder and former CEO Arif Naqvi “for his serious failings” in […]
RAM Investment plans AI City Dubai
Sheikh Rashid Bin Ahmed Al Maktoum, Chairman of RAM Investment, has announced a partnership with Europe’s leading artificial intelligence (AI) venture studio and ecosystem Merantix to conceptualise the AI City […]
Dubai lender Emirates NBD to issue 3-yr dirham-denominated bond
Dubai’s biggest lender Emirates NBD has mandated banks to arrange a three-year fixed rate UAE dirham-denominated bond, a document reviewed by Reuters showed. The senior, unsecured bond, […]
