UAE's biggest bank FAB’s Q4 net profit falls 26%; misses estimate
The UAE’s biggest lender First Abu Dhabi Bank (FAB) posted a Q4 2022 net profit of 2.46 billion dirhams ($…
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Emirates NBD 2022 profits up 40% by $3.54bln
Emirates NBD saw its profits rise by 40% in 2022 to reach AED 13 billion ($3.54 billion) after an “exceptionally…
UAE corporate tax: Ministry of Finance explains timelines, fines
The UAE Ministry of Finance held a virtual session, highlighting the features of the nation’s corporate tax regime. This…
UAE Yas Holding’s luxury real estate division to develop ‘exclusive’ homes
Abu Dhabi investment group Yas Holding has launched a new real estate business to capitalize on the strong demand for…
UAE bank investments hit 13-month high of $139bn
UAE bank investments exceeded AED511bn ($139bn) at the end of November 2022, according to the latest statistics of the Central…
UAE employment contract changes: deadline, what is fixed term and all you need to know
The UAE’s amendment to fixed-term employment contracts is mandatory for all private sector companies and must be completed by the…
GMG to ramp up growth in Southeast Asia, aims to launch 100 stores by 2025
GMG, the UAE-headquartered retailing, distributing and manufacturing company, has unveiled its ambitious growth plans in Southeast Asia (SEA). The…
Rothschild & Co’s Wealth Management business in Israel expands with three key hires
Following the launch of a new representative office in Israel for its Wealth Management business in August 2022, Rothschild &…
Citi appoints wealth head of Apac cards and unsecured lending
Seventeen-year Citi veteran Sanjay Nambiar has been named head of cards and unsecured lending for Asia Pacific and Europe, Middle…
Saudi Aramco’s Wa’ed invests $14mln in Japanese drone firm
Saudi Aramco’s venture capital fund has invested $14 million in a Japanese startup that develops technology for drones which will…
Dubai Islamic Bank FY net profit jumps 26%; beats estimate
Dubai Islamic Bank, the UAE’s largest Islamic lender, posted a 26% jump year-on-year (YoY) in its FY 2022 net profit…
Abu Dhabi hotels generate Dhs5.4bn in revenue in 2022
The Department of Culture and Tourism – Abu Dhabi has revealed that a total of 4.1 million hotel visitors stayed…