On this panel this week: Kunal Malani, head of customer value management, UAE and Mena at HSBC Middle East; Keren Bobker, an independent financial adviser with Holborn Assets and Michael Routledge, the founder of the debt advice site savememoney.ae.
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Dubai Financial Market : Deyaar’s stock hits highest level in 3M early Tuesday
Dubai – Mubasher: Deyaar Development’s stock on Tuesday registered its highest level in three months, or since 20 July’s trading session by 11:00 am UAE time. The stock rose 1.12% to AED 0.541 after 23.68 million shares were exchanged, through 188 …
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Dubai Financial Market : Mashreq Bank’s stock inches up 0.14% on DFM early Tuesday
Dubai – Mubasher: Mashreq Bank’s stock increased 0.14% to reach AED 74, after 22,560 shares were exchanged, through two transactions, with a turnover of AED 1.66 million on the Dubai Financial Market (DFM) on Tuesday by 11:15 am UAE time. The stock of …
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UAE MoF issues statement on VAT regulations
The UAE MoF is committed to working with the highest levels of transparency and disclosure principles, and will collaborate with the Federal Tax Authority upon issuing the executive regulation. Al Khoori stressed that the Ministry’s website and that …
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Lawyers report low take-up of UAE bankruptcy law
The UAE’s long-awaited bankruptcy law has yet to be applied … It provides traders with three options when in financial crisis – restructuring, preventative composition and (declaring) bankruptcy. However, it does not decriminalise bounced cheques …
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VAT items ‘yet to be determined’, says UAE finance ministry
Tax rates on goods and services are yet to be formally set, the UAE Ministry of Finance has said, ahead of the planned introduction of VAT on January 1. Undersecretary Younis Haji Al Khoori said the ministry is still in the process of preparing the …
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UAE Oil Giant Seeks Partnership For Possible IPO
Even though the UAE’s oil firm ADNOC is seeking partnerships and exploring a possible IPO of minority stakes in some of its services units, at the holding company level ADNOC will remain wholly owned by the Abu Dhabi Government, ADNOC group CEO Sultan …
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Former Goldman executive is raising money for quant hedge fund
Dubai: Ronald Hua, a former Goldman Sachs Group Inc. executive … The duo is raising money as more hedge funds and asset managers start quantitative strategies to adapt to a challenging environment for stock pickers. Active managers are trying to find …
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UAE’s finance ministry yet to fix VAT rate on goods, services
The UAE’s Ministry of Finance is still in the process of fixing the value added tax (VAT) rates for goods and services, it announced on Monday. The ministry is currently developing the executive regulations of VAT, said Younis Haji Al Khouri, under …
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UAE Food Bank opens 2nd location in Dubai
The second operational site of the UAE Food Bank was launched on Monday at Al Bada area near Canadian University under the patronage of Easa Saleh Al Gurg Charity Foundation. The UAE Food Bank also signed cooperation agreements with three other charity …
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Dubai’s Mashreq posts 12% rise in net profit
Mashreq’s CEO, AbdulAziz Al Ghurair, said: “It has been a period of muted growth for the UAE banking system with the banking sector gross credit growing by only 0.3 percent as of August. However at Mashreq we have been successful in increasing our loan …
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Second food bank site opens in Dubai
Labourers queued up to collect food packages which were being distributed at the launch of the second food bank site in Dubai on Monday, which is also World Food Day. More than 1,000 construction workers, cleaning and maintenance staff stood in lines for …
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Dubai Islamic Bank : UAE banks set for resilient third quarter results
Dubai: The UAE banking sector performance is expected to be resilient in the third quarter of this year despite a slowdown in economic growth resulting in modest balance sheet growth across the banking sector. Analysts expect no major surprises except the …
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Dubai Islamic Bank : assets cross AED200 bn
Dubai Islamic Bank, the largest Islamic bank in the UAE by total assets, on Wednesday reported a 10 percent rise in nine-month net profit to AED3.3 billion ($900 million) compared to the same period in 2016. Total income increased to AED7.5 billion for the …
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Dubai Financial Market : Emaar Properties to initiate new batch of UAE IPOs – Report
Dubai – Mubasher:UAE bourses are highly anticipating the resumption … Emaar a market booster Financial analyst at Menacorp Issam Kassabieh forecasts that Emaar Development’s IPO will be main market booster in the UAE in the coming period, indicating …
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UAE online transactions grow to $12bn
Payfort’s ‘State of Payments in the Arab World’ report found the highest rates of growth to be in Saudi Arabia (27 percent), Egypt (22 percent) and the UAE (21 percent). The report included data on four other key countries (including Jordan, Kuwait …
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Saudi Aramco denies plans to shelve international IPO
FT report on Saudi Aramco IPO is entirely speculative … 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.
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