UAE – Mubasher: The Central Bank of the UAE (CBUAE) has signed a memorandum of understanding (MoU) with Bank Indonesia to boost trade relations. Under the agreement, the two central banks will establish a framework to use local currencies in …
UAE - Mubasher: The card payments market in the UAE is expected to grow at a compound annual growth rate (CAGR) of 10.60% between 2024 and 2028, according to a report by GlobalData. The report forecast the market to reach a value of AED 764.10 …
Abu Dhabi – Mubasher: Fitch Ratings has affirmed Bank of Sharjah’s long-term issuer default rating (IDR) at 'BBB+' with a stable outlook. The rating agency upgraded the bank’s viability rating (VR) to ‘b-‘ from 'ccc+', according to a press …
UAE – Mubasher: The S&P Global Dubai Purchasing Managers' Index (PMI) signalled the lowest level for eight months in April 2024, after falling to 55.1 from 58 in March, according to the latest report. Meanwhile, the seasonally adjusted S&P Global …
UAE – Mubasher: Abu Dhabi Developmental Holding Company (ADQ) has listed its recently issued $2.5 billion bonds on the London Stock Exchange (LSE). The bond issuance was oversubscribed by 4.40 times, receiving orders at a total value of $11 …
UAE – Mubasher: The Central Bank of the UAE (CBUAE) has opted to keep interest rates unchanged, following a similar decision by the US Federal Reserve. The CBUAE has also retained the Base Rate for the Overnight Deposit Facility (ODF) at 5.40%, …
UAE – Mubasher: Cash deposits at Emirati banks rose by 11% year-on-year (YoY) to AED 725.8 billion in February 2024 from AED 654.6 billion. Month-on-month (MoM), cash deposits in the UAE’s banks grew 1.92% in February from AED 712.1 billion in …
UAE – Mubasher: Dubai-based neobroker amana launched a groundbreaking strategy to boost access to the MENA stock markets for its customers, according to a press release. In February, the investment service provider developed an initiative to …
UAE -Mubasher: The total foreign assets at the Central Bank of the UAE (CBUAE) surged by 40.20% year-on-year (YoY) to AED 708 billion at the end of February 2024 from AED 505.10 billion Month-on-month (MoM), the CBUAE’s foreign assets rose 2% in …
UAE – Mubasher: The General Civil Aviation Authority (GCAA) has granted the operational approval for the country's first vertiport. The use of the vertiport will start at the DRIFTx event in Abu Dhabi, according to the Emirates News Agency (WAM). …
UAE – Mubasher: The Ministry of Investment of the UAE has signed an investment memorandum of understanding (MoU) with Kenya’s Ministry of Finance and National Treasury for collaboration in the mining and technology sectors. The MoU allow for …
UAE – Mubasher: The UAE has signed a memorandum of understanding (MoU) with Iraq, Qatar, and Türkiye for cooperation on the Development Road project. The project seeks to create a sustainable economy bridging East and West, increase international …
Abu Dhabi – Mubasher: The value of Abu Dhabi Commercial Bank’s (ADCB) brand grew 8.70% year-on-year (YoY) to AED 10.50 billion in 2023. The bank ranked 109th in the 2024 Banking 500 report from Brand Finance, moving up four places from last year, …
UAE – Mubasher: Dubai International (DXB) has topped the 2023 list of top 10 busiest airports worldwide. The latest achievement marks DXB’s tenth year of leading the list, which is put by the Airports Council International (ACI), according to a …
UAE – Mubasher: The UAE is dependent on gas imports for power plants and water desalination plants in line with its objectives to become self-sufficient in gas supply by 2030. GlobalData, a leading data and analytics company, pointed out that …
UAE – Mubasher: The UAE’s Ministry of Finance is participating in the 2024 Spring Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) in Washington D.C. The Emirati delegation will be led by Mohamed bin Hadi Al …
Dubai – Mubasher: Al Ansari Exchange, a subsidiary of Al Ansari Financial Services, partnered with Al Etihad Payments (AEP), a unit of the Central Bank of the UAE (CBUAE), to boost seamless payments. The two entities will utilise Aani, an instant …
Mubasher: The Saudi crude oil production surged by 20,000 barrels per day (bpd) to hit 9.03 million bpd in March 2024 compared with 9.01 million bpd in February, according to the latest OPEC report. The average crude oil production by Saudi Arabia …
Mubasher: The number of flights between the UAE and Saudi Arabia surged by 13.30% during March amid increasing demand from those planning to perform Umrah rituals during the holy month of Ramadan. The month of Ramadan witnessed nearly 383 weekly …
Mubasher: Potential macroeconomic changes in Turkiye are set to benefit subsidiaries of GCC-based banks in the country. A disinflation in Turkiye is set to cut GCC banks’ net losses and the decelerated devaluation of the lira is expected to reduce …
UAE – Mubasher: EmiratesNBD Research cited preliminary estimates by the Statistics Centre - Abu Dhabi indicating that the capital of the UAE registered a 3.1% growth in real GDP during 2023. The non-oil sector, which expanded by 9.1% yet …
Abu Dhabi – Mubasher: Global rating agency Moody's has upgraded the Baseline Credit Assessment (BCA) and Adjusted BCA of Abu Dhabi Islamic Bank (ADIB) to 'baa3' from 'ba1'. Moody's affirmed ADIB’s local and foreign currency long-term issuer …
UAE - Mubasher: The UAE’s seasonally adjusted Purchasing Managers' Index (PMI) went down to 56.9 last March from 57.1 in February 2024, according to the latest S&P Global PMI data. The data reflected the joint-fastest accumulation of backlogs of …
UAE – Mubasher: The UAE occupied the eighth spot among the top 10 most globalised countries in the world in DHL’s Global Connectedness Report. The country marked the maximum improvement in performance concerning global connectedness since 2001, …
UAE – Mubasher: The UAE supplied 31.30 million barrels of crude oil to Japan in February 2024, representing 44.10% of the country’s oil needs throughout the month. Japan imported 71 million barrels of crude oil in February, according to the …
