Malik Salameh – directThe UAE’s holdings of US Treasury bonds decreased during the month of February 2023 by 0.61 percent on a monthly basis. The UAE’s holdings of bonds last February amounted to about $64.5 billion, compared to $64.9 billion in the previous month, according to the monthly report of the US Treasury Department. On … Read more
Abu Dhabi – Mubasher: Dubai courts ordered KPMG Lower Gulf to pay $231 million, equivalent to 848 million dirhams, to a group of investors who reported losing money due to the company’s poor quality audit of a fund they invested in, according to a report by the Financial Times. The ruling, issued in late March, … Read more
Abu Dhabi – Mubasher: The total foreign assets of the UAE Central Bank exceeded half a trillion dirhams at the end of last January, for the first time in its history. Statistics issued by the UAE Central Bank indicated that the foreign assets of the Central Bank increased on a monthly basis by 1.34%, from … Read more
Al-Marsad Newspaper: The official spokesman for the Ministry of Commerce, Abdul Rahman Al-Hussein, explained that the “Business Platform” is the only platform approved to authenticate electronic stores in the Kingdom, instead of the “Maarouf” platform. He pointed out that documenting the store on the business platform requires the presence of a commercial registry or a … Read more
(Ecofin Agency) – Created at the end of 2021, AfrexInsure started its activities by granting a specialized insurance policy to the Shapoorji Company. Afreximbank Insurance Management Company (AfrexInsure), an insurance subsidiary 100% controlled by the African Export-Import Bank (Afreximbank), announced on Monday, March 27, the completion of its first transaction. The transaction involved the issuance … Read more
Abu Dhabi – Mubasher: The UAE Central Bank expected inflation to slow down during the current year 2023 to 3.2%, on the back of weak price increases in all categories, especially transportation, food and beverages. The Central Bank also expected in its recent report that inflation will remain on the rise, given that it is … Read more
Dubai – Mubasher: A report issued by EZDubai, the area entirely dedicated to e-commerce in Dubai South, expects the size of the e-commerce market in the Middle East and North Africa region to reach $57 billion in 2026, equivalent to a compound annual growth rate of 11% during the period from 2022 to 2026. According … Read more
Qatar, a Gulf nation known for its prosperous economy and strategic location, is set to participate in the CII Partnership Summit 2023 in India. This summit serves as a global platform for business leaders and policymakers to discuss collaboration and investment opportunities across various sectors. With Qatar’s progressive economy and ambitious vision for growth, it … Read more
Chinese billionaire in exile Guo Wengui, a controversial figure claiming to be an opponent of the Chinese regime, was arrested on Wednesday in New York where the American justice accuses him of having cheated thousands of his subscribers on the internet for more a billion dollars. Guo Wengui, 52, was arrested “this morning in New … Read more
And Egypt and the Emirates are retreating Mubasher – Mahmoud Jamal: The Arab financial markets witnessed varying ups and downs at the end of the weekly trading, which coincided with the assertion of US Federal Reserve Chairman Jerome Powell, before Congress, that the Central Bank will likely have to increase interest rates more than expected … Read more