Mercer, the investment consulting branch of US services company Marsh & McLennan, anticipates that its wealth division will at least double its assets under management (AUM) in the Middle East. This growth is expected to continue despite current economic challenges. Yasir AbuShaban, a principal at Mercer Wealth based in Dubai, stated that the company aims...
Australia-based broker IC Markets is taking steps to enhance its presence in the Middle East by seeking a license in the United Arab Emirates. The specific regulatory body that the broker intends to approach within the UAE is yet to be confirmed. This initiative is part of a larger strategy aimed at broadening its operations...
UAE stock indices experienced an upswing at the close of trading on Tuesday. The Abu Dhabi Index rose by 0.58%, reaching 9 290 points with trading volumes amounting to 1.17 billion dirhams. Meanwhile, the Dubai Index increased by 0.43%, hitting 5 078 points amidst trading of 520.3 million dirhams. The growth in the Dubai Index...
His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, the First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance, met today with the CEO of Barclays Group. This meeting aimed to discuss various aspects of cooperation and investment opportunities between Dubai and the banking giant. During the meeting, Sheikh Maktoum emphasized...
Billionaire Michael Platt’s private investment firm, BlueCrest Capital Management, has obtained full regulatory authorization from the Dubai Financial Services Authority (DFSA). This approval allows the firm to hire traders and manage capital from Dubai, a city that has increasingly become a hub for money managers in recent years. According to sources familiar with the situation,...
National Finance, a leading finance company in Oman, has established a strategic partnership with the International Finance Corporation (IFC), part of the World Bank Group. This partnership, announced during a signing ceremony in Muscat, aims to promote sustainable development goals in Oman and aligns with the country’s Vision 2040. The collaboration includes a significant $120...
The UAE has achieved significant recognition by ranking second in the world for combating tax evasion and fifth globally for the efficiency of its tax policies, according to the latest annual report from the IMD World Competitiveness Centre in Switzerland. This announcement was made during a Cabinet meeting chaired by His Highness Sheikh Mohammed bin...
Emirates NBD has made headlines by becoming the first bank in the UAE to introduce Visa+, a service designed to simplify international money transfers. In collaboration with Visa, a prominent player in digital payments, the bank aims to provide its customers with a faster, secure, and more efficient method to send money to Visa cardholders...
Wio Bank PJSC, recognized as the Middle East’s first digital financial platform, has launched the Wio Personal Salary Plan, offering salaried individuals in the UAE a remarkable 6% interest rate on their savings. This plan aims to enhance the financial wellness of employees amid rising concerns about financial stress impacting workplace productivity and mental health....
The Abu Dhabi Securities Market demonstrated strong performance in the first quarter of 2025, showing a significant increase compared to the same period in 2024. This growth was primarily driven by a notable rise in liquidity indicators and investment activity from foreign and institutional investors. According to market data, the value of foreign investors’ trading,...