Latest news with #Dhs
Gulf Today
4 hours ago
- Business
- Gulf Today
Gross banks' assets up by 1.9% to Dhs4,719.4 billion at end of March: CBUAE
The Central Bank of the UAE (CBUAE) announced the increase in money supply aggregate M1 by 0.4%, from Dhs982.4 billion at the end of February 2025 to Dhs986.2 billion at the end of March 2025. The increase was due to Dhs5.1 billion growth in currency in circulation outside banks, overriding the Dhs1.4 billion decrease in monetary deposits. The money supply aggregate M2 increased by 3.3%, increasing from Dhs 2,360.3 billion at the end of February 2025 to Dhs2,437.7 billion at the end of March 2025. M2 increased because of an elevated M1, and Dhs73.8 billion increase in Quasi-Monetary Deposits. The money supply aggregate M3 also increased by 2.9%, from Dhs2,811.7 billion at the end of February 2025 to Dhs2,893.7 billion at the end of March 2025. M3 increased due to the growth in M2, and Dhs4.5 billion increase in government deposits. The monetary base increased by 2.0%, from Dhs816.6 billion at the end of February 2025 to Dhs833.1 billion at the end of March 2025. The growth in the monetary base was driven by increases in currency issued by 4.1% and in reserve account by 62.0%, overriding the decrease in banks & OFCs' current accounts & overnight deposits of banks at CBUAE by 64.2% and in monetary bills & Islamic certificates of deposit by 6.3%. Gross banks' assets, including bankers' acceptances, increased by 1.9% from Dhs4,632.2 billion at the end of February 2025 to Dhs4,719.4 billion at the end of March 2025. Gross credit increased by 1.6% from Dhs2,204.3 billion at the end of February 2025 to Dhs2,240.0 billion at the end of March 2025. Gross credit increased due the combined growth in domestic credit by Dhs19.5 billion and foreign credit by Dhs16.2 billion. The growth in domestic credit was due to increases in credit to the; public sector (government-related entities) by 0.2%, private sector by 1.4% and non-banking financial institutions by 1.9%, while credit to the government sector decreased by 0.3%. Banks' deposits increased by 2.3%, from Dhs2,871.5 billion at the end of February 2025 to Dhs2,936.4 billion at the end of March 2025. The increase in bank deposits was driven by the shared growth in resident deposits by 2.4%, settling at Dhs2,687.8 billion and in non- resident deposits by 0.4%, reaching Dhs248.6 billion. Within the resident deposits; government-related entities deposits increased by 4.3%, private sector deposits increased by 3.1% and non-banking financial institutions deposits increased by 5.1%, while deposits to the government sector decreased by 2.3%, by the end of March 2025. WAM
CairoScene
3 days ago
- Business
- CairoScene
Dubai SME Facilitates Dhs 1.29 Billion in Contracts in 2024
Dubai SME Facilitates Dhs 1.29 Billion in Contracts in 2024 More than 970 Emirati businesses are currently registered with the programme, reflecting growing private-sector participation and confidence in local SMEs. Dubai SME, a division of the Dubai Department of Economy and Tourism, reported that its Emirati Supplier Programme secured Dhs 1.29 billion in contracts for Emirati SMEs during 2024. The figure underscores the government's ongoing efforts to empower local firms and aligns with the objectives of the Dubai Economic Agenda (D33), which aims to double the emirate's economy by 2033, and supports the UAE's Year of Community. In 2024, government entities such as the Roads & Transport Authority, Dubai Municipality, Dubai Police, and Dubai's Department of Economy and Tourism awarded Dhs 652.8 million worth of contracts to Dubai SME members. Semi-government bodies – notably Emirates Group, Emirates Flight Catering, and Dubai Holding – contributed Dhs 347.7 million, while federal agencies including Emirates Health Services, the Ministry of Education, and MoHRE provided Dhs 94.6 million. The private sector, led by Union Coop, Carrefour, and Emaar, added Dhs 198.9 million. Since its launch in 2002, the programme has disbursed over Dhs 12 billion in contracts, mandating that government-related entities allocate at least 10% of their procurement to Emirati-owned businesses. By embedding national firms into both public and private sector supply chains, the initiative directly supports D33's goals of diversification, SME growth, and increased non-oil GDP contribution. Acting CEO Ahmad Al Room Almheiri highlights that more than 970 Emirati businesses are currently registered with the programme, reflecting growing private-sector participation and confidence in local SMEs. He adds that professional service and technical supplies were the top-performing sectors, with services accounting for 52% of contracts and commerce 45%. By offering procurement opportunities and tailored support like mentorship, training, and financing, the Emirati Supplier Programme bolsters Dubai's SME ecosystem and positions Emirati companies to compete on a global scale—reinforcing Dubai's role as a model for entrepreneurial empowerment and accelerated growth.
Yahoo
13-06-2025
- Politics
- Yahoo
Conservatives erupt after Dem senator's 'temper tantrum' sends DHS presser off the rails
Conservatives on social media lambasted Sen. Alex Padilla, D-Calif., for interrupting a Department of Homeland Security press conference in Los Angeles Thursday despite the Senate being in session. Padilla was kicked out of the event, and DHS Secretary Kristi Noem said she does not know him personally. "This is embarrassing [Padilla] spare me the fake outrage. Where were you when LEOS were being pelted with bricks? Hiding along with puppet [Los Angeles County Sheriff Robert Luna]? #FactsMatter," former Los Angeles County Sheriff Alex Villanueva posted on X. Rep. Nadler Condemns Trump Admin After Staff Member Handcuffed During Congressional Office Security Sweep "Whoa!! A sitting US Senator, Alex Padilla, was just shoved and forcibly removed from a press conference with DHS Secretary Kristi Noem. Reports are he's been arrested. No one is above the law. It's about time these Democrats stopped acting like they are," Turning Point USA founder Charlie Kirk tweeted. "Sen. Padilla missed Senate votes all week, only to throw a temper tantrum, rush the stage where DHS Secretary Noem was speaking, and get forcibly removed by security. Good on security to quickly address the threat," conservative communications operative Steve Guest posted on X. Read On The Fox News App Click Here For More Immigration Coverage The political tensions between California leaders and the Trump administration mounted with Immigration and Customs Enforcement operations in the city, which have prompted protests and riots in the area. President Donald Trump deployed the National Guard to guard ICE officers despite Gov. Gavin Newsom and Mayor Karen Bass adamantly opposed to it. Newsom said the move was "unprecedented and threatens the very core of our democracy." "Donald Trump is behaving like a tyrant, not a President. We ask the court to immediately block these unlawful actions," he added. Noem Dismisses Jeffries' Warnings As Dhs Considers Arrests Of Democratic Lawmakers After Ice Facility Clash "Senator Padilla is currently in Los Angeles exercising his duty to perform congressional oversight of the federal government's operations in Los Angeles and across California," his office said in a statement. "He was in the federal building to receive a briefing with General Guillot and was listening to Secretary Noem's press conference. He tried to ask the secretary a question and was forcibly removed by federal agents, forced to the ground and handcuffed. He is not currently detained, and we are working to get additional information." Dhs Chief Noem Accuses Lawmakers Of 'Committing Felonies' At Newark Ice Facility: 'They Should Be Censured' After the incident, Padilla's office said he is not in police custody. DHS Assistant Secretary Tricia McLaughlin confirmed Noem and Padilla had a meeting after the scuffle. The secretary confirmed to Fox News that the meeting went well, and the two exchanged phone numbers. "During a press conference today held at the FBI's Los Angeles Field Office, Senator Alex Padilla was detained by members of the U.S. Secret Service assigned to Secretary Noem's detail when he became disruptive while formal remarks were being delivered," the FBI said Thursday. "Secret Service agents were assisted by FBI Police who are in Los Angeles at this time. Senator Padilla was not wearing his Senate security pin; however, (he) was subsequently positively identified and released."Original article source: Conservatives erupt after Dem senator's 'temper tantrum' sends DHS presser off the rails
Mid East Info
12-06-2025
- Business
- Mid East Info
Dubai Investments Renews Liquidity Provider Agreement with xCube - Middle East Business News and Information
Dubai Investments PJSC DFM: DIC, a diversified investment group listed on the Dubai Financial Market, has renewed its agreement with xCube LLC to continue as the Liquidity Provider LP for its shares. Dubai Investments continues to pursue strategic initiatives that enhance shareholder value and market performance. The renewal of its partnership with xCube as Liquidity Provider reinforces this vision by ensuring improved tradability and confidence in the company's listed shares. Khalid Bin Kalban, Vice Chairman and CEO of Dubai Investments, commented: 'Renewing the agreement with xCube reflects the Group's ongoing commitment to improving market liquidity and enhancing long-term shareholder value. Over the past year, we've seen a clear uplift in trading activity, which coupled with the Group's strong financial performance, has further increased investor confidence in our shares.' Saad Chalabi, CEO of xCube, commented: 'The renewal of our mandate with Dubai Investments reflects the effectiveness of disciplined, data-driven liquidity provision. We're proud to contribute to the stock's improved performance and remain committed to supporting market quality and investor confidence. About Dubai Investments: Dubai Investments is a publicly listed UAE based multi-asset investment Group, managing a diverse portfolio of businesses, generating sustainable financial returns to its shareholders. Established in 1995, Dubai Investments is one of the leading investments Group in the UAE, initiating new businesses and partnering with dynamic entities, creating strategic investment opportunities across the region. With 15,956 shareholders, a paid-up capital of Dhs. 4.25 billion and total assets worth more than Dhs. 22 billion, the Group applies insight and experience to expand and be a reliable growth driver for businesses within sectors like real estate, manufacturing, healthcare, education, investments and services. The Group's diverse portfolio consists of wholly and partly owned companies and reflects the Company's continued focus on business diversification to drive growth in line with evolving industry trends. Focused on leveraging strengths with an interest in establishing existing and new business opportunities with a long-term, strategic and creative approach and with an emphasis on sustainable returns and capital growth, Dubai Investments collaborates on investment strategies meeting the changing needs of the economy and the societies in which it operates. Complementing the strategic objectives and creating value for stakeholders, the Group pursues growth through mergers and acquisitions and business expansions. About xCube LLC: xCube is a leading market making and brokerage firm based in Dubai. As the largest market maker on the DFM, xCube also offers issuer services that support liquidity and enhance shareholder value. xCube brokerage provides an online securities brokerage app with access created to enhance the long-term health of capital markets by nurturing and empowering investors. With a commitment to inclusivity, our platform provides access to markets with no financial requirements at the touch of a button – simple, fast, secure and affordable for all.
Gulf Today
11-06-2025
- Business
- Gulf Today
Dubai sells last two penthouses at Bulgari Lighthouse for Dhs282 million
Dubai's luxury real estate market continues to thrive, reinforcing the emirate's status as one of the world's strongest and most resilient high-end residential markets. Driven Properties has completed the sale of the final two penthouses at the Bulgari Lighthouse on Jumeirah Bay Island for a combined total of over Dhs 282 million. The first five-bedroom unit, spanning 11,657 square feet, sold for Dhs 146.6 million, while the second unit fetched Dhs 136.25 million. In April alone, Dubai recorded a staggering Dhs 62.4 billion in real estate transactions—a 95% year-on-year increase—largely fueled by demand for prime waterfront properties. Industry analysts anticipate that major deals will continue to set new benchmarks through 2025, driven by sustained demand and a limited supply of luxury residences.
