News

DUBAI/ WAM Khaled Mohamed Balama, Governor of the central bank of the UAE (CBUAE), held a meeting with CEOs of UAE banks to discuss priorities and future initiatives for the banking sector, with a particular focus on advancing green finance in the financial sector. During the meeting, the governor highlighted the important role of UAE banks in developing and implementing ...

DUBAI / WAM Dubai Multi Commodities Centre (DMCC) has announced its partnership with the global crypto giant Bybit, in which the exchange will provide financial support totalling AED 500,000 for new crypto businesses looking to set up at the region’s largest community of Web3 and blockchain businesses — the DMCC Crypto Centre. Bybit will become the listing partner for the ...

ABU DHABI / WAM Abu Dhabi City Municipality, in line with World Environment Day and its dedication to fostering a healthy environment, organised a series of workshops and educational initiatives in collaboration with strategic partners. The aim was to raise awareness among community members about the importance of preserving our natural world. One of the events took place at Al ...

DUBAI / WAM National Bonds Company, a Sharia-compliant saving and investment company, has announced its acquisition of an additional 5% stake in the “Taaleem” Holding Group. This move solidifies National Bonds’ position as the largest shareholder in “Taaleem” with a 22% stake. The acquisition represents the largest of its kind since “Taaleem” listed and traded its shares on the Dubai ...

RAS AL KHAIMAH / WAM Ras Al Khaimah Economic Zone (Rakez) has announced the launch of Traders District to support the thousands of traders thriving in its business ecosystem. It is designed to offer traders a host of benefits, including business set-up solutions, simplified access to global supply chains, networking and collaboration opportunities, and assistance with crucial aspects of business ...

ABU DHABI / WAM The German embassy in the UAE hosted its second edition of the Climate Talks titled “Road to COP28: Energy Transition in Germany and the UAE − Opportunities for Cooperation” at Khalifa University in the capital. Germany’s foreign missions are organising Climate Talks in different regions, bringing together stakeholders and important voices across different sectors, to raise ...

DUBAI / WAM Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, emphasised the commitment of the UAE government, led by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to prioritise community health. The government’s approach involves harnessing advanced digital ...

BLOOMBERG  UBS Group AG expects to complete its acquisition of Credit Suisse Group AG as early as June 12, creating a new powerhouse in European banking and ending weeks of uncertainty for the lenders’ more than 100,000 employees. The closing of the deal is still subject to certain conditions, including some that UBS said it could waive, according to a ...

BLOOMBERG  JPMorgan Chase & Co has tied up with six Indian banks to introduce a blockchain-based platform to settle interbank dollar transactions in the nation’s newest international financial hub. “We will be running a pilot project for the next few months as we need to analyse banks’ experience,” Kaustubh Kulkarni, senior country officer, India and vice chairman, Asia Pacific at ...

BLOOMBERG  Large US banks may face a 20% average increase in capital requirements from upcoming rule proposals as the collapse of several smaller lenders this year adds urgency to a push to bolster the industry’s financial strength, according to the Wall Street Journal (WSJ). The revised requirements could be proposed as early as June, and the specific increases will depend ...