UAE a key player in global financial sector, says NYSE vice chair
The UAE has solidified its stature as a key player in the global financial landscape by launching economic projects and initiatives that have made it an ideal partner for the New York Stock Exchange (NYSE) in exploring new markets, a senior NYSE official told Emirates News Agency. John Tuttle, vice chairman of the NYSE , said that […]
UAE approves 2024-2026 federal budget of Dhs192bn
The UAE has approved the federal budget for 2024-2026 worth Dhs192bn ($52.3bn), according to the state-run news agency, WAM. The federal budget estimates expenditures of Dhs64.1bn in 2024, up 1.6 per cent from estimates for 2023 and forecasts total revenues of Dhs65.7bn, up 3.3 per cent over from this year. “The federal general budget reflects the […]
DIFC unveils five-year innovation strategy for financial services
Dubai International Financial Centre (DIFC) and Refinitiv have revealed a five-year outlook for innovation in the financial services industry. Following the initial wave of innovation sparked during the pandemic, the global financial services industry continues to see major transformations. Tailored to the evolving preferences and expectations of customers and clients, the high demand for convenient […]
Abu Dhabi’s non-oil economy grew 12.3% in Q2 2023
Abu Dhabi’s non-oil economy grew by a record 12.3 per cent in the second quarter of 2023, according to the Statistics Centre – Abu Dhabi (SCAD), as the city’s efforts to become a hub for hedge funds and other financial firms start to pay off. The preliminary datafrom SCAD shows that the emirate’s gross domestic product (GDP) reached […]
Swiss bank Lombard Odier plans expansion after getting new Dubai licence
Swiss private bank Lombard Odier plans to double its headcount in the UAE within three years after obtaining a licence to operate from Dubai’s financial centre, one of its senior executives told Reuters on Thursday. The bank, which has had a representative office in Dubai, a major regional financial hub, for 17 years and a branch in […]
UAE, China’s Hainan province sign private-sector agreements to enhance trade
The UAE and China’s Hainan Province have expanded bilateral trade and investment ties through the signing of four significant private-sector agreements, as per state news agency WAM. The signing ceremony took place during the Hainan Promotion Conference in Dubai and featured the presence of Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for […]
BHM Capital enters into partnership with Tawasal SuperApp
BHM Capital Financial Services has entered into a strategic partnership with Tawasal SuperApp, a premier communication and lifestyle application, to grant users access to local and international financial markets. The company said that this association will provide Tawasal SuperApp users with unparalleled access to both local and international financial markets via the BHM Capital Financial […]
e& capital invests in US-based AI startup Ikigai Labs
e& capital announced that it has participated in the Series A financing round for Ikigai Labs, a pioneering firm harnessing the power of generative AI for tabular data. Through this funding round, Ikigai Labs has secured $25 million in this round, with contributions from e& capital, Premji Invest, and Foundation Capital. The funding will advance […]
FAB, Magnati unite with Geidea to boost digital payments
First Abu Dhabi Bank (FAB) and Magnati have entered into a strategic alliance with Saudi Arabia’s largest fintech company Geidea to provide digital payment acceptance services for businesses in the Kingdom.The collaboration has the potential to be transformative in the Saudi payments space and is set to create exceptional value for clients, bridging the gap […]
Dubai Islamic Bank integrates ‘alt’ service with UAE Pass
Dubai Islamic Bank (DIB) has integrated its DIB ‘alt’ services on mobile & internet banking with UAE PASS, the first secure unified national digital identity solution for the UAE. DIB ‘alt’ is full-service digital banking that enables customers to fulfill day-to-day banking needs through accessible and convenient digital channels with 135+ services available through the DIB ‘alt’ mobile, […]