Al-Borsa said EFG Hermes would manage the IPO and Zulficar & Partners would serve as legal counsel. EFG Hermes declined to comment when contacted by Reuters. The last IPO by a private company on the …
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The Debt Panel: ‘A UAE bank is chasing me for a liability from 1997. Do debts expire?’
I was recently contacted by a debt collection agency by phone on behalf of a bank in the UAE. They alleged there are outstanding credit card dues from 1997 for some Dh200,000. I left the UAE in …
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Consolidation, digital transformation, drive UAE’s banking sector moving forward
There are 49 banks under the auspices of the Central Bank of the United Arab Emirates’ (CBUAE), of which 27 are foreign banks, 22 are national banks and seven are local banks that follow Shari’a …
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Dubai to Organise Global Investment in Aviation Summit in January 2020
Second edition of GIAS will be held from January 27-29 DUBAI, United Arab Emirates — The General Civil Aviation Authority (GCAA) of UAE has announced that the second edition of Global Investment …
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Challenging market conditions continue in Q2 2019: Cavendish Maxwell UAE property report
Cavendish Maxwell, a leading property consultancy and chartered surveying firm in the Middle East, released its UAE Property Market Report for Q2 2019, containing key data and trends for Dubai, Abu …
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Emaar accounted for largest share of all property sales in Dubai in H1 – report
Emaar Properties recorded 4,756 transactions cumulatively worth Dhs13.1bn in the first six months of this year, accounting for the largest share of all property sales in Dubai, a report has found. …
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Why Sharjah Police will be knocking on your door in August
Dubai: Residents in Sharjah should not be alarmed when police come knocking on your door next month. It is all part of a census. The Department of Statistics and Community Development in Sharjah …
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Dubai Airport constructs Middle East’s largest airport solar hub
Dubai Airports has announced that, alongside DEWA, it will now be home to the region’s largest airport solar energy system, which has been fitted at DXB Terminal 2. It’s not the first major solar park …
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UAE’s first astronaut headed to the International Space Station in September
It began searching for the country’s first astronaut in 2017, according to an April 2017 article in Gulf News, an English newspaper in the UAE. More than 4,000 Emiratis between the ages of 17 and 67 …
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Women seek clarity on new sponsorship rule in UAE
After reading the news, Nitasha called an Amer call centre, a one-stop facility for visa and immigration-related services in Dubai, on Monday to inquire about sponsoring her husband, who recently lost …
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Barclays to cut 20% of jobs in Dubai wealth management unit
It “considers the UAE and MENA region as a key market and remains fully committed to continue serving clients based there.” The bank employees about 200 staff in the Dubai International Financial …
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Liv. donates to Dubai Cares
Dubai: Liv., the digital-only lifestyle bank by Emirates NBD, today announced a donation of AED 50,000 to UAE-based global philanthropic organisation Dubai Cares, as part of a charity campaign. The …
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90% of people in UAE use digital banking
According to numerous studies conducted by official authorities, such as the Federal Competitiveness and Statistics Authority, the percentage of digital banking users in the UAE rose to 90 percent …
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It’s real estate shining in UAE markets
Dubai: Equity traders in the UAE are ditching expensive banking shares and opting for relatively cheaper real estate stocks. Emaar Properties shed 22 per cent from April through May and has been …
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Dubai Land Department inks OA deal with Al Masraf
The Dubai Land Department (DLD) has reached an agreement with the Arab Bank for Investment and Foreign Trade (Al Masraf) to manage and service the Owners Association (OA) accounts. The MoU was signed …
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Dubai’s Amlak said to be to restructuring $1.2bn with creditors
Emirates NBD, the United Arab Emirates’ second-biggest lender, Standard Chartered, Dubai Islamic Bank, Abu Dhabi Islamic Bank, Dubai’s Department of Finance and the National Bonds Corp. are among …
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Standard Chartered Bank partners with UAE Exchange for Cash Management Services
The arrangement allows corporate clients of Standard Chartered Bank to deposit cash in their accounts through the 150+ UAE Exchange branches located across the UAE Through this extended partnership, …
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