Mohammed Al Hashemi, Chairman of the UAE Financial Markets Association, organisers of the 42nd ICA Conference, officially opened the event alongside Taher Khalifa, Chairman of the International Cambist Association (ICA), welcoming hundreds of local …
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Dubai’s Noor Bank To Step Away From Unsecured SME Lending
Dubai-based Noor Bank will move away from unsecured lending to SMEs after being impacted by a rise in bad debts within this sector. One of the UAE’s bigger banks has said that it would move away from unsecured lending to small and medium-sized …
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Emirates Islamic eyes strong growth in retail banking business
… the backdrop of low single digit loan growth in the UAE in 2017, Emirates Islamic is targeting strong growth in retail financing business next year, Wasim Saifi, Deputy CEO, Consumer Banking and Wealth Management of Emirates Islamic told Gulf News in …
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ADNOC’s distribution unit could raise as much as $2bn in IPO
distribution unit set an indicative price range for its initial public offering (IPO) that could raise as much as $2bn to become the biggest listing in the UAE since 2007. ADNOC Distribution set an indicative price range of between Dhs2.35 ($0.6400 …
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Does UAE’s banking sector deserve to be given credit or not?
The UAE’s banking sector will see growth strengthen in 2018, and remain fairly robust in 2019, as the economy at large benefits from higher oil prices and easing oil production curbs. Total assets growth and client loans growth both decelerated in June …
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Dubai and Australia team up with fintech initiative
The Dubai Financial Services Authority (DFSA), the financial regulator of the Dubai International Financial Center (DIFC), tied up with the Australian Securities and Investments Commission (ASIC) to put in place a regulatory framework for cooperation on …
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UAE investment firm Amanat names new chairman, MD
Vayalil added: “Amanat has the potential to become a game changer in healthcare and education, not only in the UAE but on the global stage. “Both sectors are ripe for investment and with Amanat’s strong financial position, now is the time to …
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Dubai Financial Market : UAE bourses to revive on Emaar Development’s listing – Analysts
Dubai – Mubasher: The UAE bourses are expected to bounce on Wednesday in line with Emaar Development’s listing on the Dubai Financial Market (DFM). Emaar Development is the second firm to be listed on the DFM in 2017 after Orient UNB Takaful which went …
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Middle East financial markets bracing for change
UAE. The UAE Financial Markets Association is challenging the region’s investment bankers, traders, treasury managers and finance professionals to brace for change amid the rise of populism in the West and the sharing economy grows. Mohammed Al Hashemi …
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Finance House to be receiving bank for Adnoc unit IPO
Finance House has announced its participation as a ‘Receiving Bank’ in the Initial Public Offering (IPO) of Adnoc Distribution. Adnoc Distribution, the UAE’s leading operator of retail fuel service stations and the sole retail fuel operator in Abu …
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UAE seen returning to budget surplus in 2019
The UAE’s budget balance will return to surplus by 2019, owing to the recovery in oil prices, the introduction of new taxes – most notably the value-added tax in 2018, according to a new research note. Analysts BMI said capital expenditure will drive total …
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Biggest Dubai IPO in 3 Years Has Worst Debut Since 2014
Geopolitical risk in the Middle East took a toll on the debut of a stock linked to one of the strongest brands investors can find in the United Arab Emirates market. Emaar Development PJSC, the U.A.E. real estate developer that began trading in Dubai on …
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UAE Central Bank looks to private equity to plug SME funding gap
The governor of the Central Bank of the UAE wants private equity firms to help fill the void left by banks that have cut lending to SMEs in recent years amid lacklustre economic growth. “The exposure of our financial sector to SMEs is moderate and I …
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UAE mulls regulation for crowdfunding
In August 2017, the Dubai Financial Services Authority (DFSA) launched its regulatory framework for loan and investment-based crowdfunding platforms to create an innovation-friendly ecosystem. The introduction of the regulation comes as crowdfunding is …
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Emaar Development, Dubai’s first big IPO since 2014, falls on debut
Shares in Dubai real estate firm Emaar Development fell on their debut on Wednesday in the emirate’s first major listing since 2014. Emaar Development had an initial public offer price of 6.03 dirhams, equal to its net asset value according to an …
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UAE MoF organises workshop for avoidance of double taxation agreements
DUBAI: The workshop was held in the presence of Yousuf Mohammed bin Hajar, Deputy Director of International Financial Relations Department at MoF, and more than 60 representatives from the MENA region, and related local and federal entities. Yousuf …
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Dubai Financial Market : UAE bourses to rebound Tuesday – Analysts
Dubai – Mubasher: The UAE bourses are expected to rebound into positive territory on Tuesday as prices are likely to reach attractive levels, analysts told Mubasher. Market analyst Gamal Abdel Hameed said that the indices of the UAE bourses have reached …
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