ABU DHABI / WAM The banking sector increased their statutory reserves at the UAE Central Bank by AED8.6 billion during H1, 2017, bringing to AED125.5 billion the total required reserves by the end of June 2017, according to CB statistics. Statutory reserves are the minimum liquidity banks are required to hold against client deposits without getting interests in return. The …

Dubai / WAM Dubai Aerospace Enterprise (DAE) has completed its previously announced acquisition of the AWAS group of companies in a move that propels DAE into the top tier of global aircraft lessors. DAE will now conduct its aircraft leasing business using the DAE Capital brand name. DAE Capital now features an owned, managed and committed fleet of approximately 400 …

DUBAI / WAM Tejar Dubai, an initiative of the Dubai Chamber of Commerce and Industry has said that a total of 28 commercial projects have been launched to date by its participants with a majority of Emirati-owned businesses operating within the UAE’s smart services, retail, logistics, and food and beverage sectors. A total of AED 15.4 million worth of financing …