“Corporate banking took off when financial institutions began financing projects for government-related entities.” From its earliest days of its founding in 1967, Mashreq has arranged financing for some of the UAE’s and the region’s iconic projects ... ( read original story ...)
Progression towards FinTech a promising…
The Dubai International Financial Centre (DIFC) is playing an integral role in establishing Dubai as a financial technology (FinTech) hub in the Middle East, Africa and South Asia (Measa) as it believes in the development of financial technology that has ... ( read original story ...)
Dubai’s Marka Holding Appoints New CEO
Marka, which operates 47 hospitality, fashion and beauty and sports outlets across the region, raised $75m in an IPO on the Dubai Financial Market in 2014. However, the company is yet to turn profitable, and posted a net loss of Dhs150m in 2016 ... ( read original story ...)
Progression towards FinTech a promising transition: DIFC
The Dubai International Financial Centre (DIFC) is playing an integral role in establishing Dubai as a financial technology (FinTech) hub in the Middle East, Africa and South Asia (Measa) as it believes in the development of financial technology that has ... ( read original story ...)
Saudi utility Marafiq seeks adviser for deals, may consider IPO -sources
DUBAI, June 1 (Reuters) - Saudi Arabian water and power utility ... Depending on the success of the deals, Marafiq might then proceed with a public share sale, they said. The IPO, which could be in 2019, could raise around 1 billion riyals ($267 million ... ( read original story ...)
Dubai’s agenda to be capital of Islamic economy gains pace
... noted that Dubai and the UAE are instrumental in raising awareness about the culture of Islamic economy worldwide and boosting global interest in adopting its principles. "Today, non-Muslim countries view Islamic finance, halal lifestyle and Shariah ... ( read original story ...)
UAE banking sector crisis: 3,000 jobs cut
*UAE banks counting the cost of weakening economy and competitive market The banking sector in the country has been in a state of upheaval over the past 12 months after 3,000 jobs were slashed in the UAE’s two main cities, Abu Dhabi and Dubai. ( read original story ...)
German Authorities Target British Investor for Tax Evasion
He currently lives in Dubai. Former senior people at the Hamburg-based bank ... In September 2015, Mr. Shah’s now defunct London-based hedge fund, Solo Capital, transferred €222 million to an account at Varengold Bank in Hamburg. The acount belonged ... ( read original story ...)
Middle East Crude-Benchmarks weaken as July trade slows
Cash Dubai widened to 59 cents below swaps ... kingdom's policy of cooperation with major oil producers to rebalance markets and limit volatility. *Hedge fund managers had already closed out many of their bearish short positions in crude oil before ... ( read original story ...)
UAE forms Fatwa Council to advocate moderate Islam
... board members of the Higher Sharia Board for Banking and Finance to strengthen consistency of the Islamic finance industry across the UAE. The Board is responsible for setting rules, standards and general principles for banking and financial ... ( read original story ...)