Dubai's Union Properties reports $624 mln loss
Shares in Dubai-based real estate developer Union Properties plunged on Tuesday after it said provisions taken to cover accounting errors…
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Saudi to resume building mega $3.5bn Abraj Kudai hotel in Makkah
Saudi Arabia is set to restart work on one of the world’s largest hotel projects, the $3.5bn Abraj Kudai in…
Credit scores signal change in UAE
During the global financial crisis, banks experienced a rise in the number of individuals defaulting on loans and the UAE…
Indian buyers overtake Arabs as biggest investors in prime London property
Indian buyers have overtaken those from the Middle East to become the second-largest purchasers of prime Central London property, as…
Deposits in UAE banks surge to $120bn in H1
Short-term deposits in UAE banks increased by AED27.9 billion during H1, bringing to AED439.7 billion the total value of short-term…
CBO approves merger between National Finance and Oman Orix
National Finance Company and Oman Orix Leasing Company have received in-principle approvals from the Central Bank of Oman for their…
Emaar Properties H1 net profit jumps 15pc to $772m
Dubai-based Emaar Properties recorded a growth in net profit of 15 per cent to Dh2.837 billion ($772 million) during the…
UAE is likely to see increased cashless transactions by 2020: Xpress Money’s Strategy & Digital Chief
Cash is still the reigning king, but that is likely to change rapidly given the UAE’s thrust towards cultivating smart…
Missing analysts' estimates Damac reports 21 per cent plunge in second quarter profit
Damac Properties, the Dubai-based real estate developer and business partner of US President Donald Trump in the emirate, said second…
MUFG plans Saudi Arabia hires to tap US$350b privatization
Mitsubishi UFJ Financial Group Inc is looking to hire in Saudi Arabia as the lender seeks to benefit from privatizations…
Bank ABC is first MENA financial institution to join global financial infrastructure consortium
The over 80-strong consortium of the world's biggest financial institutions is spearheading research and development of blockchain–inspired distributed ledger technologies…
Qatar Insurance to list subsidiary on stock exchange
The parent company of Bermuda-based reinsurer Qatar Re is preparing to list one of its other subsidiaries on the Muscat…