DIFC Bucks Global Trend With Double-digit Growth In Companies
Malaysia's Maybank Islamic Berhad, Cantor Fitzgerald and Australia's Atlas Wealth Management were among the financial firms that joined
Dubai ranked as the Middle East’s leading financial centre in a March study by consulting firm Z/Yen.
The number of financial companies operating in the Dubai International Financial Centre rose 11% during the first half, even as a slowing global economy forced some banks to cut jobs.
Almost 2,290 companies, including 671 financial firms, are now based in the tax-free business park with the number of jobs increasing by 660 to more than 24,000, according to a statement on the DIFC’s website.
Malaysia’s Maybank Islamic Berhad, Cantor Fitzgerald and Australia’s Atlas Wealth Management were among the financial firms that joined.
Dubai ranked as the Middle East’s leading financial centre in a March study by consulting firm Z/Yen. The hub climbed three places to No. 12, ahead of Abu Dhabi by 14 places. Riyadh ranked 61st. Still, Barclays Plc and Deutsche Bank AG have reduced their presence in the financial district in recent years and the hub has turned to African and Asian institutions to fill office space.
For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
ADIO, Primavera To Collaborate To Attract High-growth Companies To Abu Dhabi
The partnership will increase cross-border capital flows, deepen investor partnerships and expand the footprint of glob... Read more
Saudi SME Bank Signs $801m Agreements To Expand Development Finance And Boost SME Growth
Saudi SME Bank signed $801m in agreements at MOMENTUM 2025 to expand development finance and strengthen SME funding Th... Read more
Crypto In The Spotlight As ADGM Reveals Next Wave Of Digital Asset Rules
FSRA’s latest regulatory enhancements target stronger supervision while supporting innovation across the region’s d... Read more
UAE Announces Two Tiers Of Sugar Tax Starting The New Year
Ministry of Finance announces tiered taxes ranging AED0.79-AED1.09 per litre on drinks that have more than 5 grams of s... Read more
Solmates Santori Says The UAE Is The Place To Build A “new Wall Street”
The Abu Dhabi-based company’s CEO says strategic location, proximity to capital ,and business-friendly environment ar... Read more
UAE, Saudi Arabia, Qatar, Kuwait And Bahrain Cut Key Interest Rates By 25bps Following US Fed Move
GCC central banks, including the UAE, Saudi Arabia, Qatar, Kuwait and Bahrain, cut key interest rates by 25bps after US... Read more