The US Federal Reserve is likely to raise rates further to tighten its monetary policy and the UAE Central Bank will have to follow suit because the dirham is pegged to the dollar, analysts said. “The current central bank rate is 1.5 per cent, which has …
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Emaar unit is said to plan IPO at premium of as much as 20%
Dubai: Emaar Properties PJSC is expected to offer shares in its United Arab Emirates development business at a 10 to 20 per cent premium to the unit’s net asset value, according to three people familiar with the plans. The lead managers on the initial …
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Emaar to end UAE’s IPO drought
But with Emaar IPO-ing a subsidiary, and with Dubai having prospered irrespective of oil pricing, the chances for a successful IPO is very optimistic. Hadi Khatib is a business editor with more than 15 years’ experience delivering news and copy of …
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UAE Ministry of Finance Expands E-Dirham System by Adding Health and Medical Sectors
The UAE Ministry of Finance (MoF) signed a membership document with the Medical Office of the Ministry of Presidential Affairs and two agreements with Abu Dhabi Health Services Company (SEHA) and the National Health Insurance Company (Daman) to join the e …
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Dubai Investments Reports Net Profit of Dh350 Million for Q3 2017
Dubai Investments, the leading, diversified investment company listed on the Dubai Financial Market, has reported net profit of AED 350 million for the quarter ending September 30, 2017, an increase of 4.8% over AED 334 million achieved during the same …
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Dubai’s DFM sees 1% fall in nine-month net profit
Dubai Financial Market Company on Monday announced a net profit of AED173.3 million for the first nine months of 2017, a 1 percent decrease compared to the same period of 2016. Net profit for the third quarter fell by 22 percent to AED27.7 million …
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UBF banking forum to focus on future of tech-based banking
… (UBF), a professional representative body comprising 48 member banks operating in the UAE, has released the full agenda on the Middle East Banking Forum. Currently in its fifth edition, the forum is a premier annual event for the region’s banking …
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UAE deposit growth surged as credit growth remained weak
Dubai: Deposits in the UAE’s banking system rose in September as credit growth continued to be anaemic, according to UAE Central Bank monetary data. Gross credit growth remained lacklustre in September at just 0.1 per cent month on month. This reflected …
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Dubai Multi Commodities Centre Offers Islamic Trade Finance Platform for SMEs
DMCC, one of the world’s leading free zones for trade and enterprise in Dubai, has signed an agreement with Dubai SME, an agency of Dubai Economy, to develop Sharia-compliant trade finance platform for the small and medium enterprises ( SMEs). The …
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Dubai developer Union launches new investment arm
Union Properties on Monday announced the formation of a new investment arm, UPP Capital Investment, as the Dubai-based real estate group continues to roll out its diversification strategy. The new entity will specialise in direct and indirect real …
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Dubai bank Emirates NBD’s Q3 profit rises 37%
Emirates NBD (ENBD), Dubai’s largest lender, posted a 37 per cent rise in third-quarter net profit on Monday as impairments tumbled and operating income rose. The bank, the last major lender from the United Arab Emirates to report its earnings during the …
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Finance Minister to attend India-UAE Partnership Summit in Dubai
Srinagar: JK Minister for Finance, Dr Haseeb Drabu on Sunday left for UAE to attend the India-UAE Partnership Summit (IUPS) to be held in Dubai on 30/31 October 2017. The Summit is being jointly organized by the Embassy of India, Abu Dhabi, Consulate …
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Bank recapitalisation offers a new lifeline to NPA hit state-owned Indian banks
Dubai: The Government of India’s decision to inject an unprecedented … one of the key drivers for our negative outlook on the South Asian nation’s banking sector,” said Jobin Jacob, associate director at Fitch Ratings. Apart from stabilising …
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Dubai CommerCity first regional e-commerce free zone
Dubai CommerCity, the first free zone dedicated to e-commerce in the MENA region, is intended to promote Dubai’s position as a leading platform for international e-commerce and to support economic diversification and smart transformation strategies. The …
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Dubai’s Noor Bank says managing director to leave on Oct 31
Dubai-based Noor Bank has announced the departure of Hussain Al Qemzi from his position as managing director, effective from October 31. Al Qemzi was CEO of Noor Bank from its inception in 2008 until June when he became the bank’s first managing director …
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Could Aramco renege on the IPO plan?
IPO vs. private share placement It’s possible that a change … at the Lebanese American University and has a Master’s degree in International Affairs. by Dubai American Academy
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Emaar launches property unit IPO
DUBAI: Emaar Properties, Dubai’s master developer, is to sell 20 percent of the shares of its UAE real estate unit in an initial public offering (IPO) that could value it at around $6 billion. The IPO is the first significant listing on a UAE market …
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