Category: FINANCE

Last month’s market debut of Dubai real estate firm Emaar Development was weak, and the stock has now dropped to 5.56 dirhams from the IPO price of 6.03 dirhams. The IPO raised $1.3 billion for Emaar Properties. Abu Dhabi’s main share index was flat on ... ( read original story ...)

The UAE embracing digital adoption faster than West in all areas of life including financial services, according to a recent HSBC research. HSBC’s new global research report, Trust in Technology, which includes research from over 12,000 people in 11 ... ( read original story ...)

EU finance ministers on Tuesday adopted a blacklist of 17 jurisdictions deemed to be tax havens, including the UAE and Bahrain, in an unprecedented step to counter worldwide tax avoidance. Blacklisted countries may no longer be used by EU institutions for ... ( read original story ...)

Adnoc Distribution unit set an indicative price range of between Dh2.35 and Dh2.95 for its IPO that could raise as much as $2 billion to become a milestone transaction, the largest public offering in the UAE to date. Adnoc is selling a minimum of 10 per ... ( read original story ...)

Abu Dhabi’s state-owned oil firm had indicated last month that it could sell as much as 20 percent of ADNOC Distribution at a higher price range, which would have valued the deal as high as $2 billion, making it the UAE’s biggest IPO since 2007. ( read original story ...)

KUWAIT CITY — The United Arab Emirates on Tuesday announced it has formed a new economic and partnership group with Saudi Arabia, separate from the Gulf Cooperation Council — a move that could undermine the council amid a diplomatic crisis with member ... ( read original story ...)

The financial services sector is an important part of the UAE economy, one that helps much of the region’s growth. In 2016, according to the Ministry of Economy, this industry contributed 9.8 percent of GDP and 12.8 percent of non-oil sector domestic ... ( read original story ...)

including Bank of America Merrill Lynch and JP Morgan, to pursue an initial public offering next year, according to multiple people familiar with the process. The largest school operator in Dubai has also included Credit Suisse and Morgan Stanley in the ... ( read original story ...)

Credit card details of many UAE residents have been stolen and the central bank has asked financial institutions to inform customers and cancel the cards. "Please note that these details have been compromised and thus, contact the persons mentioned in the ... ( read original story ...)

Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE, hosted the second monthly draw of its latest promotion, “Double Your Salary. Double Your Joy”. The second monthly draw was held at the Etihad Mall branch in Muhaisnah-1 and officiated by ... ( read original story ...)