Drake & Scull International, the Dubai-based contracting giant which has recently completed the restructuring of its corporate general bank debt in the UAE, said on Tuesday that it returned to profit in the first quarter of 2018. The company said it made a …
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Revealed: how China is driving growth in Dubai’s financial hub
ICBC and China Construction Bank Corporation. A recent survey also ranked the UAE as third in a global index of nations that stand to benefit most from the One Belt, One Road Initiative. Kazim said: “Dubai has always been a focal point for trade and …
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Noor Bank lists US$500 million Sukuk on Nasdaq Dubai
DUBAI, 16th May, 2018 (WAM) — Noor Bank today welcomed the listing of US$500 Sukuk on Nasdaq Dubai. The capital raised supports Noor Bank’s continuing rapid growth as a fully scalable universal Islamic bank across the UAE active in a wide range of …
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Alawwal and SABB merger to create Saudi Arabia’s third largest bank
DUBAI: Saudi British Bank (SABB) and Alawwal Bank have agreed on a merger, Alawwal Bank said on Wednesday, in a deal that would create Saudi Arabia’s third-biggest bank with assets of around $77 billion. The merger is the first major banking tie-up in …
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Country Head – Huxley Banking & Financial Services – Dubai Jobs
One of the leading International Banking Group is setting up their Islamic Banking Division in the DIFC; we are currently looking for a Country Head to join them. Setting budgets for new large corporate client relationships comprising assets and liability …
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Noor Bank Rings Bell To Celebrate Listing Of A USD 500 Million Sukuk On Nasdaq Dubai
Capital raised supports bank’s rapid growth as a universal Islamic bank across UAE Successful issuance with five-year term oversubscribed 2.1 times Listing underlines Dubai’s No. 1 position globally for Sukuk at USD 59.72 billion John Iossifidis, Chief …
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Sharjah Police launch campaigns against begging
Sharjah: Sharjah Police have launched anti-begging campaigns with the distribution of booklets in Arabic, English and Urdu, said Colonel Arif Bin Hudeib, Head of Media and Public Relations Department at Sharjah Police. Residents approached by beggars are …
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Lithuanian Prime Minister highlights prospects for expanding cooperation with UAE
As an attractive destination for ease-of-doing business, Lithuania offers customised and flexible solutions for UAE businesses and investors, H.E. Skvernelis pointed out, adding that the country is witnessing stable economic growth. In addition …
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Dubai Chamber plans retail rent index
Dubai Chamber of Commerce and Industry (DCCI) is reportedly developing the city’s first-ever retail rent index to improve transparency. The announcement comes after Dubai was recently ranked the most important global shopping destination in an annual …
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DUBAI, United Arab Emirates | Millions of Muslims prepare for start of fasting in Ramadan
DUBAI, United Arab Emirates — Last minute preparations are underway as Muslims around the world stock up on groceries and dates for evening meals to break dawn-to-dusk fasting during the month of Ramadan. Saudi Arabia and other Muslim-majority nations …
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DUBAI, United Arab Emirates | Gulf Arab states rebuke Israel, but alliances inch closer
State-aligned media took a tougher line. A front-page editorial Tuesday in Dubai’s Gulf News ran with the headline: “Mr. President, you killed any glimmer of hope for peace.” The front page of Abu Dhabi’s The National described the U.S. Embassy …
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UAE declares Ramadan start date
The UAE’s moon sighting commitee has announced that Thursday, May 17 will be the first day of Ramadan. Abu Dhabi Judicial Department officials met after prayers on Tuesday to sight the holy month’s moon crescent under orders from the minister of justice.
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Feast or famine: Will UAE businesses go slow as Muslims fast this Ramadan?
said that cooperatives and supermarkets outlets in the UAE are expected to reduce the prices between 25-50%. Some products will also be sold at cost price during the holy month. Hadi Khatib is a business editor with more than 15 years’ experience …
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No freeze on ‘fifth freedom’ flights in US-UAE agreement, officials say
The agreement between the US and UAE regarding civil aviation confirms “business as usual” and allows Emirates to continue to operate “Fifth Freedom” routes to the US that do not originate in Dubai, despite claims to the contrary, according to …
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Listed firms’ agencies slam hedge funds for ‘violating corporate managerial rights’
Pointing to similar cases in the past of Dubai-based Sovereign Asset Management’s opposition to SK Corp. in 2003 and Elliott’s attack on Samsung Group in 2015, the associations criticized hedge funds for taking huge profits and then withdrawing from the …
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Islamic finance feels heat from $700 mln Dana sukuk saga
DUBAI, May 15 (Reuters) – Islamic finance operators are scrambling to tighten the industry’s rules in order to make sure other companies cannot take the same path as Dana Gas, which this week forced a $700 million debt restructuring. Global standards are …
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Dubai Tourism announces tie-up with China’s Tencent
Dubai: Dubai’s tourism authority announced on Tuesday a new agreement with Chinese internet giant Tencent, during a trip this week to the country. The agreement seeks to promote Dubai as a preferred destination for Chinese travellers. According to a …
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