Gold prices in Dubai fall by more than Dh1 per gram
Jewellery gold rates in Dubai plunged on Tuesday, providing buyers a momentary relief from soaring prices. The price of 24K…
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Union National Bank opens Shanghai branch
Union National Bank, 50 per cent owned by the Abu Dhabi government, has begun operations at its branch in Shanghai,…
$205bn worth of cheques handled in H1: UAE cbank
A total of 15.151 million cheques worth Dh755 billion ($205.5 billion) were handled by the Cheque Clearing System during the…
Dubai's Noor Bank cuts dozens of jobs -sources
Dubai-based Noor Bank has laid off several dozen employees, banking sources told Reuters on Tuesday, the latest lender to adjust…
DIFC Courts’ half-year performance underscores global judicial standing
Dubai’s DIFC Courts witnessed sustained growth in the first six months of 2017, with the English-language, common law judiciary continuing…
Region's economic diversification gives way to resurgence of wealth managers
Private bankers are making a beeline to Saudi Arabia, beefing up their presence following the tanking of oil prices, the…
Saudi Arabia plans to launch second local currency sukuk issuance next week
Saudi Arabia plans to launch the second issue of its local currency sukuk programme during the week beginning on August…
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…
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…
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…
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…
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…