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UAE banking sector assets to record up to 10pc growth in 2022: UBF Chairman

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UAE Banks Federation (UBF) Chairman AbdulAziz Al Ghurair has projected that the UAE’s banking sector assets will surge in the range of 8 to 10 percent next year.

He said the banking sector will benefit from the economic revival as the country’s economy will also increase about 5 per cent in 2022.

AbdulAziz Al Ghurair said that the UAE’s economy will reap benefits from Expo 2020 for about nine years with more international investors attracting to the country.

He highlighted that banks are already seeing improvements in key performance matrixes such as asset quality, capitalisation, loans and deposit growth, profitability, loans to deposit ratio, costs, and liquidity.

Al Ghurair predicts that the non-performing loans ratio of the UAE’s banking sector will moderate from the current 8 per cent to 2 per cent in 2022.

Even before the third quarter 2021 results, figures show that the UAE banks are entering a period of healthy growth in assets and profits.

The UBF chairman said that the coronavirus pandemic has already expedited digitalisation, especially in the banking sector as most of the customers have been forced to try digital solutions of their banking problems. It is indeed a good development for banks, customers and all other stakeholders in the economy, he added.

Al Ghurair said that increased digitalisation is helping the banks reduce the number of branches and overall costs while offering a better customer experience.

Meanwhile, the latest data from the Central bank showed the digitalisation has resulted in a decline in the number of bank branches from 534 at the end of first quarter this year to 522 at the end of second quarter. Likewise, the number of bank employees fell by 414 to 32,623 at the end of June 2021.

Al Ghurair said the central bank’s support was timely and substantial but the banking sector in the country is ready for the phasing out of the support under the Targeted Economic Support Scheme (TESS) of the Central Bank of UAE.

As the Central Bank is set for a gradual withdrawal of its direct liquidity support, Al Ghurair said the banking sector no longer needs funding. He said that some 95 per cent of the banks have already surrendered their TESS quotas. He expected a decline in loan impairments over the next few quarters.

UBF Chairman Al Ghurair said the UAE’s healthy banking system is supportive of the economic growth momentum, while banks are also gaining benefit from the underlying strength of the operating environment. He said the post-COVID-19 recovery in the economy is going to benefit all sectors that were negatively impacted during the pandemic.

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Parents, take note: Dubai Police warn about teens riding motorbikes after Iftar in residential areas

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As Ramadan evenings get busier, Dubai Police are warning parents about a rise in teenagers riding motorcycles and recreational bikes in residential areas, especially after Iftar.

Why this matters

Police say many teens are:

  • Riding without proper safety measures
  • Using service roads and neighbourhood streets
  • Putting themselves at risk of collisions with cars or pedestrians

Residential areas are often filled with families, children and elderly residents during Ramadan nights, making the danger even greater.

What parents should know

Authorities have already:

  • Impounded motorcycles
  • Summoned parents
  • Filed official police reports

This behaviour is considered a legal violation and can have serious consequences.

What you can do

  • Talk to your children about road safety and legal responsibilities
  • Ensure any bike use follows UAE traffic laws
  • Supervise younger teens, especially during busy evening hours

Residents can report unsafe riding via the 901 hotline (‘We Are All Police’ service) or through the Dubai Police app.

A quick conversation at home today could prevent a serious accident tomorrow.

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Foodilicious: A new Dubai-based TV series that brings Ramadan culinary traditions and cultural stories to screen

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A new Ramadan television series is bringing communities together across the GCC, not through debate or drama, but through the shared experience of Iftar.

Haier presents Foodilicious, produced by Rigel Global Media, which premiered in February and airs every Saturday at 7:30pm (GST) on Zee TV, with streaming available on demand.

The English-language lifestyle series blends Iftar traditions, chef-led dining, hospitality features and cultural storytelling, reflecting the diversity that defines Ramadan in Dubai and across the Middle East.

More than a food show

Unlike conventional cooking programmes, Foodilicious positions food as a narrative tool.

Founder and CEO Abhishek K. Mishraa said the editorial approach mirrors news storytelling,  rooted in real life, cultural context and human experience.

The show was developed alongside Creative Head Puneet Verma and storyteller Aryaman Singh, who brought a contemporary lens to Ramadan traditions to connect with younger audiences.

Their goal? To treat food as memory, devotion and belonging, not just spectacle.

Familiar face fronts the series

Hosting the show is Lokesh Dharmani, radio jockey at City 101.6 FM, whose warm, conversational style anchors the format.

Behind the scenes, Production Manager Mukesh Dubey and Line Producer Tanim Ayub lead operations, while digital strategy is managed by social media personality Altamash Iqbal.

Backed by global brand support

The series is presented by Haier Gulf Electronics LLC, signalling growing brand investment in culturally resonant Ramadan programming, a season known for some of the region’s highest TV viewership figures.

Ramadan in the UAE brings together Emiratis, expats and visitors from across the world. By showcasing Iftar tables, chefs, hospitality experiences and shared traditions, Foodilicious aims to reflect that diversity on screen.












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Huge relief for drivers: New Dubai bridge cuts travel time to 1 minute

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Commuters using one of Dubai’s busiest corridors just got a major upgrade.

The Roads and Transport Authority (RTA) has officially opened a new 1,000-metre bridge linking Sheikh Zayed Road to Sheikh Khalifa bin Zayed Street, slashing journey times from six minutes to just one minute.

And this is only part of a much bigger transformation.

What’s the new bridge?

  • It spans 1,000 metres
  • Has two lanes
  • Handles up to 3,000 vehicles per hour
  • Connects traffic from Sheikh Zayed Road towards Al Karama and Deira

It’s the third bridge completed under the wider World Trade Centre Roundabout Development Project.

Two earlier bridges opened in February 2026, improving traffic from 2nd December Street towards Sheikh Rashid Street and Al Majlis Street.

Why this intersection matters

The World Trade Centre Roundabout is one of Dubai’s most critical traffic nodes. It connects five major roads:

  • Sheikh Khalifa bin Zayed Street
  • Sheikh Rashid Street
  • 2nd December Street
  • Zabeel Palace Street
  • Al Majlis Street

It also serves key destinations like:

  • Dubai World Trade Centre
  • Dubai International Financial Centre

More than half a million residents and visitors rely on this corridor daily.

From 12 Minutes to 90 Seconds

When the full five-bridge project is completed:

  • Average delays will drop from 12 minutes to 90 seconds
  • That’s a 92% reduction
  • Free-flow traffic will operate in multiple directions
  • The existing roundabout will become a signalised junction

Two additional bridges, connecting traffic from Sheikh Rashid Street and Al Majlis Street towards 2nd December Street, are set to open in October.

Who benefits most?

  • Daily commuters heading to Deira and Karama
  • Residents in Zabeel, Al Satwa, Al Jafiliya and Al Mankhool
  • Businesses in DIFC
  • Event attendees at Dubai World Trade Centre

For drivers, the impact is immediate. For central Dubai’s traffic grid, the biggest gains are still coming later this year.

If you drive this stretch daily, you’ll likely feel the difference from your very next commute.

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