The UAE’s Central Bank has granted in-principle approval for a regulated dirham-pegged stablecoin, potentially making the UAE the first issuer of such a currency in the region. This development marks a significant step forward in the country’s cryptocurrency landscape, opening up new possibilities for digital transactions and economic growth. The AED Stablecoin has received preliminary…
Family credit in the UAE banking sector has reached a significant milestone, reaching approximately $115 billion in the past year, according to the latest statistics from the Arab Monetary Fund. This figure represents a substantial 11.3 percent increase, positioning the UAE as the second-fastest growing market for family credit among Arab countries, just behind Algeria’s…
Description: The UAE’s used electric vehicle market is facing challenges, with demand dropping despite dealers’ efforts to offer attractive deals and certifications. This article explores the current state of the secondhand EV market in the UAE, highlighting the factors contributing to the decline in demand and the strategies dealers are employing to revive interest. Subtitle…
Description: The Dubai Department of Economy and Tourism (DET) has partnered with Amazon UAE to launch the ‘DET x Amazon Accelerator’ program, aimed at boosting the growth of Dubai’s small and medium enterprises (SMEs). This initiative, part of the Dubai Traders program under the Dubai Economic Agenda D33, seeks to enhance SMEs’ competitiveness globally by…
In a rapidly evolving job market, continuous learning is more crucial than ever. Mount Institute of Business Development (MIBD) in Dubai is at the forefront of this educational revolution, offering flexible, practical-based learning for working professionals. Founder David Ebenezer shares insights into MIBD’s innovative methods and vision for the future of education. From Artist to…
National Security Takes Priority: Biden Blocks Nippon Steel’s U.S. Acquisition Strategic Industry Protection President Joe Biden is set to formally block the $14.1 billion sale of U.S. Steel to Nippon Steel, citing critical national security concerns. The decision underscores the administration’s commitment to protecting strategic domestic industries from foreign acquisition. The proposed acquisition has been…
Dubai International Financial Centre (DIFC) Achieves Exceptional Growth in First Half of 2024 The Dubai International Financial Centre (DIFC) has reported outstanding results for the first half of 2024, marking its 20th anniversary with record-breaking growth across various sectors. As the leading global financial centre in the Middle East, Africa, and South Asia (MEASA) region,…
Here’s the 300-word article based on the text: Trump’s Global Financial Disruption: A New Economic Landscape Market Expectations Reshaped The inauguration of Donald Trump has dramatically altered global financial markets, introducing unprecedented uncertainty and volatility. Initial market expectations of multiple Federal Reserve rate cuts have been significantly scaled back, with projections now pointing to just…
Description: UAE’s top banks showcased impressive performance in Q2 2024, with improved asset quality and increased profits. The Alvarez & Marsal report highlights key metrics, including higher net income, lower impairment charges, and sustained credit growth. The article delves into interest rate dynamics, deposit and credit trends, operating efficiency, and the sector’s future outlook. Subtitle…
Here’s the 300-word article based on the text you provided: Economic Growth Forecasts Slashed Amid Global Uncertainties Recent economic projections have revealed a significant shift in global growth expectations, with major economies experiencing substantial downward revisions. The International Monetary Fund (IMF) has dramatically cut growth forecasts, signaling deepening economic challenges across key markets. Trade Tensions…
