Money & Finance – Page 9

March 15, 2023

Trading account opening made easy through DFM application by Emirates NBD Securities.

Emirates NBD Securities, the brokerage arm of Emirates NBD Group, has become the first securities brokerage in the region to offer seamless trading account opening through the Dubai Financial Market (DFM)’s digital onboarding application. This new application provides investors with an additional channel to open a trading account with Emirates NBD Securities, allowing them to […]

by CEO Editorial Team

March 15, 2023

AED200 million cash dividend for H2 2022 approved by TECOM Group shareholders

The TECOM Group, a Dubai-based developer and operator of business communities, announced the approval of their financial statements for the year ending on December 31st, 2022. During the Annual General Assembly Meeting at Dubai Internet City, the Board of Directors approved a cash dividend of AED200 million for April 2023, bringing the total amount of […]

by CEO Editorial Team

March 15, 2023

Brand Finance ranks DEWA with exceptional results

Dubai Electricity and Water Authority (DEWA) has achieved impressive results in the latest Brand Finance rankings. DEWA’s brand value increased by 30% and the company was named as the second most valuable Middle Eastern utilities brand. The Brand Guardianship Index 2023 issued by Brand Finance also ranked Saeed Mohammed Al Tayer, MD and CEO of […]

by Prerna

March 6, 2023

High dividend yield announcement in Dubai leads to a surge in Emaar Development’s stock.

On Monday, most Gulf stock markets closed higher, ignoring a drop in oil prices, with Dubai leading the gains following the largest-ever intraday increase in Emaar Development, while the Egyptian index continued its downward trend. Oil prices, which have a significant impact on Gulf economies, fell on Monday, with Brent crude futures trading down $1.30, […]

by Prerna

March 4, 2023

Early 2023 sees a significant rise in motor insurance premiums in the UAE.

Motor insurance premiums in the UAE have increased sharply as insurance companies end Covid-19 discounts of up to 50% on premiums, announced by the Insurance Authority in 2020. Before the pandemic, insurance companies could offer up to a 30% discount, depending on the driver’s history. In November 2022, all insurers announced a rate change to […]

by Prerna

March 3, 2023

The first finance summit dedicated to advancing the COP28 climate action agenda held in DIFC.

The Dubai International Financial Centre (DIFC) hosted the world’s first summit dedicated to advancing the COP28 climate action agenda in the global finance industry, according to Emirates News Agency. More than 500 people attended the first of a series of finance summits aimed at spurring proactive action to accelerate the green transition and lead the […]

by Prerna

March 3, 2023

Amidst interest rate hike, UAE dirham records historic high against Pakistani rupee.

On Thursday, the Pakistani rupee experienced a sharp decline, reaching an all-time low against the US dollar due to political and economic uncertainty caused by the delay in International Monetary Fund (IMF) funds. The rupee’s value dropped by 6.66% or 18.98, reaching 285.09 (77.68 against the dirham) in the interbank market, while it crossed the […]

Edmond de Rothschild Group, a private banking giant based in Switzerland, has established its MENA hub in Dubai's DIFC

by CEO Editorial Team

February 28, 2023

Edmond de Rothschild Group, a private banking giant based in Switzerland, has established its MENA hub in Dubai’s DIFC

Swiss bank Edmond de Rothschild Group has announced the establishment of its Middle East and North Africa (MENA) hub in Dubai’s Dubai International Financial Centre (DIFC) as part of its strategy to expand its presence in the region. The bank, founded in 1953, has been catering to the MENA market from Switzerland, but the establishment of its presence in Dubai will ensure proximity to its clients and leverage the expertise it has built up in the region.

In 2022, SABIC experienced a 13% increase in revenue, totaling $53 billion.

by CEO Editorial Team

February 28, 2023

In 2022, SABIC experienced a 13% increase in revenue, totaling $53 billion.

Saudi Basic Industries Corporation (SABIC), one of the world’s largest petrochemical companies, reported a 28.35 percent decline in net profit to SR16.53 billion in 2022. The decline was attributed to lower profit margins and rising distribution costs. However, the company’s sales volume increased by 9 percent from the previous year, driven by growth projects, improved […]

According to reports, Swiss banks are holding millions of dollars that were allegedly embezzled by Riad Salameh.

by CEO Editorial Team

February 27, 2023

According to reports, Swiss banks are holding millions of dollars that were allegedly embezzled by Riad Salameh.

The financial crisis in Lebanon has been a long-standing issue, with the country facing political instability and economic downturns. One of the key players in this crisis has been the Lebanese Central Bank Governor, Riad Salameh. Mr Salameh, who was once praised for his efforts to stabilize the country’s financial sector, has been under investigation in at least six European countries since 2020 over alleged financial wrongdoing and corruption.

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