The Central Bank of the United Arab Emirates (CBUAE) has announced that it will maintain the base rate applicable to the overnight deposit facility at 5.40%. This decision, made on November 1, 2023, aims to support the UAE’s economic stability and growth. Credit: HiDubai Focus The CBUAE emphasized that the decision aligns with its commitment...
The Central Bank of the United Arab Emirates (CBUAE) has released comprehensive guidelines for residents seeking compensation for damaged, torn, or incomplete banknotes. As the regulatory authority overseeing the banking and insurance sectors, the CBUAE aims to promote financial stability and consumer protection. The guidelines ensure that compensation is distributed fairly, adhering to strict verification...
UAE President Sheikh Mohamed bin Zayed recently engaged in a phone conversation with Syrian President Ahmed Al-Sharaa, as reported by WAM News Agency. The discussion focused on the relationship between their countries and explored avenues to enhance bilateral cooperation for the benefit of their peoples. Credit: Arab News During the call, the leaders exchanged views...
Saudi developer Emaar, The Economic City, has finalized a binding restructuring agreement with the Public Investment Fund (PIF) concerning a substantial loan deal valued at SR1 billion ($266 billion). This agreement marks a significant step for the company, which is the master developer of the King Abdullah Economic City located on the Red Sea coast....