Browsing: Finance
After months of speculation, Israeli fintech company eToro has officially filed a confidential prospectus for…
The UAE has announced a collaboration with Elon Musk on the Dubai Loop, an underground transport project revealed at the World Governments Summit.
ADNOC Logistics and Services (ADNOC L&S) recorded a 22 per cent increase in its net profit for 2024, reaching USD 756 million (AED 2,777 million).
Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (DEWA), emphasised Dubai’s global leadership in clean energy and artificial intelligence. He discussed key strategies and policies related to clean energy, energy storage, and Fourth Industrial Revolution technologies.
Dubai Islamic Bank, the UAE’s largest Islamic bank, reported a total income of AED 23.34 billion ($6.36 billion) for 2024, marking a 15.9 per cent increase from AED 20.14 billion ($5.49 billion) in 2023. Pre-tax profit rose by 27 per cent to AED 9 billion ($2.45 billion), while net profit grew 16 per cent to AED 8.17 billion ($2.22 billion).
DIFC has launched a new API (Application Programming Interface) to provide instant updates on real estate details within its financial hub. In addition to being a base for finance and related businesses, DIFC is also a key player in Dubai’s property market, offering both commercial and residential real estate options.
Cash settlements for financial instruments listed on the Abu Dhabi Securities Exchange (ADX), including stocks and bonds, will now be conducted in dirhams.
In his role as the Ruler of Abu Dhabi, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, has issued a resolution to restructure the Artificial Intelligence and Advanced Technology Council (AIATC). The council will be chaired by His Highness Sheikh Tahnoon bin Zayed Al Nahyan, with His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan serving as Vice-Chairman.
The UAE economy is set for significant growth in 2025, with a forecast of up to 5%. This positive outlook is due to strong performances in both the oil and non-oil sectors, supported by government policies and favourable global conditions.
Tabby, the Mubadala-backed buy now, pay later (BNPL) platform, has secured $160 million in a…