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Term deposits in UAE banks surge 15pc to $52bnThe 6-12 month term deposits in UAE banks surged to around Dh190 billion ($51.7 billion) during the first four months of the year, a 14.9 growth from Dh165.3 billion by the end of 2017, a media report said. The growth is attributed to a rising demand over this type of deposits fo More… |
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ADGM signs Astana financial services dealAbu Dhabi Global Market (ADGM) said it has signed a co-operation agreement with Astana Financial Services Authority (AFSA), a legal entity and statutory body of Kazakhstan through its registrars. AFSA is a financial hub for Central Asia, the Caucasus, Eurasian Economic Union (EAE More… |
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Palmex gets sandbox license for cryptocurrencyPalmex, a professional digital asset exchange powered by ArabianChain Technology, has become the first and only cryptocurrency exchange in the Mena region to receive a Regulatory Sandbox License. The Central Bank of Bahrain (CBB) granted the Regulatory Sandbox License to Palmex u More… |
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Berkeley Assets acquires blockchain firm CryptechPrivate equity firm Berkeley Assets has acquired global investment and advisory service Cryptech, a Blockchain organisation which provides investment opportunities to individuals and institutions who want to explore the technology. The acquisition comes at a time when Cryptech ha More… |
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Mubadala to launch $400m European tech fundUAE-based Mubadala Investment Company (Mubadala) has planning to create a $400 million fund which will mainly invest in leading European technology companies. The announcement was made during London Tech Week, a week-long festival of technology and innovation focused on creating More… |
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Dubai Islamic donates $5.4m to RAK charityThe Dubai Islamic Bank (DIB) has donated Dh20 million ($5.4 million) in Zakat money to the Ras al-Khaimah Charity Association, as part of its efforts to support social and charitable societies and associations. Abdul Razzaq Al Abdullah, head of the Community Services Department o More… |
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Investcorp wins 4 awards at EMEA Finance eventBahrain-based Investcorp, a leading global provider and manager of alternative investments, said it has won awards in four categories at the EMEA Finance Achievement Awards ceremony held in London, UK. The recognition highlights the firm’s continued ability to deliver stron More… |
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Dubai FDI named top investment promotion agencyDubai FDI has been named the region’s first-ever ‘Top Investment Promotion Agencies Africa & Middle East – Regional’ by Site Selection, a global investments publication based in the US for its role in attracting foreign investments to the UAE and the region. More… |
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Adnic gives one-month bonus to mark Zayed anniversaryAbu Dhabi National Insurance Company (Adnic), one of the largest and leading regional multi-line insurance providers for corporates and individuals, has issued a bonus of one-month’s salary to its employees. This is in celebration of the centennial anniversary of the birth More… |
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ADFD provides $10.8m loan for Uganda power projectThe Abu Dhabi Fund for Development (ADFD) has approved a Dh40 million ($10.8 million) concessionary loan for the development of a rural electrification project in Kalongo, Uganda, a media report said. Mohammed Saif Al Suwaidi, director-general of ADFD, and Ajedra Gabriel Gadison More… |
