(Corrects headline and lead after company clarifies CEO comments on IPO) DUBAI, March 14 (Reuters) – The chief executive of Qatar Stock Exchange said on Tuesday any initial public offering of its own shares would require a shareholder decision. “There are …
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CBK signals end to licensing freeze with nod for Dubai bank
The Central Bank of Kenya (CBK) yesterday signalled its intention to lift the moratorium it had imposed on the licensing of new banks, saying it had started processing one local and one foreign application to set up operations. The CBK said it would …
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UAE Bankruptcy Law: A guide for business directors
The new UAE Bankruptcy Law (Federal Law No. 9 of 2016) has put a spotlight on the treatment of companies in financial difficulties in the United Arab Emirates. It comes into force on 29 December 2016. We set out a summary of the key points in the Law.
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Nasdaq Dubai, Bourse de Tunis partner to boost Islamic finance
Nasdaq Dubai and Bourse de Tunis have signed a Memorandum of Understanding (MoU) to explore collaboration possibilities, including initiatives regarding existing and future issuers and listings on the two exchanges, according a media statment, Ways to …
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Saudi Aramco selects FTI as global media advisor for IPO: sources
KHOBAR, Saudi Arabia/DUBAI Saudi Aramco [IPO-ARMO.SE] has chosen U.S.-based FTI Consulting (FCN.N) as global media adviser for what is expected to be the world’s largest initial public share offer, industry sources said. In recent months the Saudi national …
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UAE bank sector assets at Dh2.6 trillion, tops in GCC
The UAE’s banking sector topped the GCC region in terms of asset volume, with a total value of about $711 billion (Dh2.61 trillion) in 2016, according to statistics from the Central Bank of the UAE. The Saudi Arabia banking sector came second, with a total …
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National Bank of Fujairah signs Dubai Declaration on Sustainable Financing
National Bank of Fujairah announced today that it has recently signed the Dubai Declaration on Sustainable Financing at the United Nations Environment Programme (UNEP) Finance Initiative’s 14th Global Roundtable, a leading platform attracting over 400 …
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Simple ways to leave Dubai with a fat bank account
Don’t be that person who leaves Dubai bankrupt. Plan sensibly and save for the rainy day. How often have you heard about a friend who was in debt when he left Dubai? Expats come to Dubai to make money and add on to their savings, but sometimes get sucked …
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Bank ABC opens a branch in DIFC, Dubai
Bank ABC’s decision to open a branch in the DIFC comes as part of its plan to expand its international network, which already spans 18 countries in five continents. “We are pleased that the Dubai Financial Services Authority (DFSA) has granted Bank ABC …
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Expo 2020 Dubai teams up with DEWA to develop sustainability
DEWA will provide Expo 2020 Dubai with electricity and water from October 2020 to April 2021, excluding the electricity that will be generated at Expo’s site; Expo 2020 Dubai aims to have 50 per cent of its power needs supplied from a variety of …
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Dubai Stocks: First Gulf Bank (FGB:AD) Consolidating
Overall, the bias in prices is: Downwards. Short term: Prices are moving. Intermediate term: Prices are ranging. Note: this chart shows extraordinary price action to the downside. The projected upper bound is: 13.13. The projected lower bound is: 11.86.
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Transparent SME-bank relationship key to healthy entrepreneurship environment
Opening the discussion, Abdul Aziz Al Ghurair, Chairman of UAE Banks Federation (UBF), said transparent SME-bank relationship is key to nurturing healthy entrepreneurship environment in the UAE. “It is clear that there is a need for the financial sector to …
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Banque Internationale à Luxembourg strengthens its operations in Dubai
is accelerating its growth in the Middle East by recruiting a number of experienced professionals for its Dubai branch. The bank will further develop its business and improve the servicing of clients in the Gulf Cooperation Council (GCC) region.
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2nd Arab IPO Summit to tackle policies governing capital raising activities
DUBAI — UMS Conferences, organizers of the upcoming second Arab IPO Summit, on Saturday announced its strategic partners for the summit which include leading exchanges like the London Stock Exchange, Abu Dhabi Securities Exchange, Palestine Exchange …
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UAE banking sector tops Gulf states for asset volume
The UAE’s banking sector came first on the list of the banking sectors in terms of asset volume in the GCC region, with a total value of about US$711 billion, over (AED2. 61 trillion) in 2016, according to statistics from the Central Bank of the UAE …
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UAE banks fully prepared for stricter capital regime
Dubai: The UAE banks’ minimum common equity tier 1 capital (CET 1) ratio could increase to 12 per cent and capital adequacy ratio to 15.5 per cent by 2019, according to the new central bank regulations. But with the already strong capitalisation levels …
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Canaccord Genuity looks to expand business in Middle East, India
It recently helped broker a $5-billion investment partnership between Dubai ports operator DP World and Caisse … with large European and North American private equity funds, pension funds and hedge funds about potential investments in Saudi, United …
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