Browsing: Finance

Dubai Financial Services Authority (DFSA) announced on Tuesday that it had fined Vedas International Marketing Management $100,000 (around AED 367,000) for “unauthorised and misleading financial promotions related to the Multibank Group.”

UAE-based BECO Capital has welcomed a new institutional limited partner (LP) for its fourth investment…

Dubai Taxi Company (DTC) has announced solid financial results for the nine months ending 30 September 2024, highlighting significant growth across key performance areas.

His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, Chairman of the Presidential Court, and Chairman of the Board of Directors of the Financial Stability Council, presided over the Council’s second meeting of 2024 in Abu Dhabi.

UAE has unveiled its National Investment Strategy 2031 at the UAE Government Annual Meetings 2024 in Abu Dhabi, with more than 500 senior officials from various sectors in attendance. This announcement underscores the UAE’s commitment to strengthening its position as a global investment hub. The strategy was introduced in the presence of Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, and Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court.

PwC Middle East’s latest IPO+ Watch report reveals that while the GCC IPO market in Q3 2024 saw fewer listings compared to Q3 2023, it achieved higher proceeds.

Dubai has launched its Real Estate Sector Strategy 2033, targeting a property market value of AED 1T ($272B) with objectives to elevate economic contribution, increase homeownership, and solidify Dubai’s standing as a premier investment destination.

ADNOC and Abu Dhabi Future Energy Company (Masdar) have signed a Strategic Collaboration Agreement (SCA) with Microsoft, aiming to drive AI and low-carbon initiatives in the UAE and internationally. The focus is on decarbonising the current energy system and enabling a sustainable energy future.

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is set to acquire a majority stake of 54 per cent in MBC Group from the Ministry of Finance, represented by Istedamah Holding, for a total of $2B (SAR 7.5B).

By July 2024, the total capital and reserves of banks in the UAE exceeded AED 500M ($136.1B) for the first time.