Sunday 29 March 2020

Savills welcomes Dubai Free Zones stimulus package

Leading real estate advisor Savills said the announcement of the economic stimulus package for Dubai Free Zones, under the directive of Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, will help to ease the burden on corporate tenants.


UAE gross bank assets top $840bn in February

The UAE gross bank assets, including bankers’ acceptances, rallied 0.5 percent from Dh3.080 trillion ($840 billion) in January 2020 to Dh3.095 trillion ($842 billion) by the end of the following month, a media report said. Gross credit in the banking system likewise grew 0.


Bahrain ratings stable, says S&P Global Ratings

S&P Global Ratings has revised its outlook on Bahrain to stable from positive on expectation of extraordinary support from other GCC sovereigns, which it stated, was likely to enable the kingdom to continue implementing fiscal reforms.   Despite efforts to i


Solidarity Bahrain approves 15pc cash dividends for 2019

Solidarity Bahrain, one of the largest insurance companies in the kingdom, has announced that its shareholders had approved the company board's recommendation to distribute 15 per cent cash dividends (equivalent to 15 fils per share) for 2019.   A subsidiary


UAE's February gold reserves surge to $1.53bn

The Central Bank of the UAE's gold reserves surged 38.8 per cent to hit Dh5.62 billion ($1.53 billion) in February from Dh4.04 billion ($1.1 billion) in December last year.   Statistics issued by the apex bank showed its reserves of gold grew exponentially s


51 UAE firms to pay $10bn in dividends for 2019

Fifty-one companies listed in the UAE capital markets are expected to pay Dh36.91 billion ($10 billion) in cash dividends for 2019, according to data released by these firms until March 23, a media report said. Banks are the largest distributors of profits, with 11 Emirati banks


G20 vows to inject $5 trillion to economies

The G20 nations today vowed to inject over $5 trillion into the global economy, as part of targeted fiscal policy, economic measures, and guarantee schemes to counteract the social, economic and financial impacts of the novel Coronavirus (Covid-19) pandemic.   &


DMCC rolls out support package for businesses

DMCC, a flagship free zone and Government of Dubai Authority on commodities trade and enterprise, today announced the roll-out of a Business Support Package to support its business community as well as new companies navigate the current economic environment.  


Insurance House’s AGM approves 4 per cent cash dividend

Insurance House PSC’s (IH), annual general meeting has approved the distribution of a 4 per cent cash dividend to its shareholders.   In his address to the shareholders, Mohammed Abdulla Alqubaisi, Chairman of Insurance House, said: “IH has registere


IMF approves $1.3bn under EFF for Jordan

The Executive Board of the International Monetary Fund (IMF) has approved a 48-month arrangement under the Extended Fund Facility (EFF) with Jordan for an amount equivalent to SDR926.37 million ($1.3 billion or 270 per cent of Jordan’s quota) to support the country’s economic and

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