Dubai Islamic Bank to acquire 25% stake in Turkey digital bank

  Dubai Islamic Bank, the UAE’s largest Islamic lender, said on Wednesday its board of directors has approved a proposal to acquire 25% stake in a new digital banking group in Turkey in line with its international expansion strategy. The Dubai Financial Market-listed lender in a regulatory statement on Wednesday neither named the digital bank […]

Abu Dhabi’s Aldar Properties posts 22% jump in Q1 2023 net profit

The UAE developer Aldar Properties posted a 22% increase year-on-year (YoY) in Q1-2023 net profit to 836 million dirhams ($228 million), and said it expects “robust real estate market dynamics” to sustain through 2023. The net profit easily topped analysts’ mean estimate of AED747.7 million, according to data compiled by Refinitiv’s Eikon. Group revenue for […]

Dar Global awards $32mln fit-out contract for Da Vinci Tower in Dubai

Dar Global, the global arm of Saudi developer Dar Al Arkan, has awarded a fit-out works for 800 million UAE dirhams ($217.86 million) Da Vinci Tower in Business Bay to Shapoorji Pallonji Mideast. The contract is valued at AED 116 million ($31.59 million). “Awarding the fit-out works follows a rigorous selection process,” the LSE-listed Dar […]

DIFC to host inaugural Dubai FinTech Summit next week

  Dubai is set to host the first-ever Dubai FinTech Summit on 8th and 9th May under the patronage of H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance. The Summit will be organised by Dubai International Financial Centre (DIFC) at Madinat Jumeirah and […]

Sharjah’s ‘Cows Project’ sets it apart: Sharjah Ruler

H.H. Dr. Sheikh Sultan Bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, said via the direct line programme on Monday that the cattle project that will be launched in Sharjah has no equivalent in the world. He stressed that “the cows project”, which will be launched in Sharjah, will include cows that […]

UAE’s Jaber urges donors to deliver on $100 bln pledge to developing countries

The UAE’s president-designate of the COP28 climate summit urged donors to deliver on a $100 billion pledge promised 14 years ago to developing countries and blamed delays in delivery for hindering climate action. “Expectations are high. Trust is low,” Sultan al-Jaber told the Petersberg Climate Dialogue in Berlin on Tuesday. “This is holding up progress […]

Mohammed bin Rashid directs dispatch of urgent humanitarian aid for displaced Sudanese citizens

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, directed the dispatch of urgent humanitarian aid to the brotherly Sudanese displaced citizens affected by the recent conflict in their country. His Highness Sheikh Mohammed bin Rashid affirmed that the UAE is always keen to support its brotherly countries. […]

FTA outlines procedures for VAT recovery on Mosques’ construction and operation

The Federal Tax Authority (FTA) held a session in collaboration with the Department of Islamic Affairs in Sharjah, as part of the Customer Councils initiative launched by the UAE Government. The Council aimed to improve government services by engaging customers in designing innovative experiences based on their ideas and suggestions. The session was attended by […]

Dubai Chambers to showcase private sector role, expand networks at WCC in Geneva

Dubai Chamber is set to highlight the key role played by the emirate’s private sector worldwide and expand its global networks, bilateral trade, and business reach during the 13th World Chambers Congress (WCC) in Geneva, Switzerland, from 21st-23rd June 2023. As a diamond sponsor of the 13th WCC, which is held under the theme of […]

Azizi nearing sellout for 256 pool-facing Dubai residences

UAE-based Azizi Developments has announced the sale of almost all of its 256 pool-facing homes at Beach Oasis, a vibrant mixed-use community in Dubai with two buildings comprising a total of 476 studios, 200 one- and 36 two-bedroom residences as well as several key retail units. Built for the modern, young adults, Beach Oasis is […]