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Category: FINANCE

Posted on 24/11/2020

IPO-bound Biocon Biologics in talks with Abu Dhabi fund ADQ to raise fresh capital

If the negotiations fructify— coming two weeks after the Goldman Sachs deal—it would mark the fourth successive investment in the Kiran Mazumdar Shaw-led Biocon unit in 2020.The last fundraise was …
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Posted on 24/11/2020

UAE to allow 100% foreign business ownership: Key points to note

The UAE announced on Monday that foreign nationals will now be allowed to own 100 per cent of commercial companies within the country, eliminating the need for a UAE national to hold the majority …
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Posted on 24/11/2020

UAE and Israel – a partnership that can help the world

Israel can help the UAE expose its tech startups to partners and investors in the West, while the UAE can be Israel’s gateway to Asia and the East.
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Posted on 24/11/2020

ADIB provides $24.8mln finance for UAE client’s UK investment park buy

We are delighted to have supported our UAE-base client with a tailored financing solution to acquire an income producing, high-quality asset in the UK offering long-term secure income. “The continued …
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Posted on 24/11/2020

UnionPay Partners with Abu Dhabi Islamic Bank to Enable Contactless Payment on 15,000 Terminals throughout UAE

PRNewswire/ — UnionPay International (UPI) has partnered with Abu Dhabi Islamic Bank (ADIB), one of the United Arab …
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Posted on 24/11/2020

UAE to take action against non-registered Hawala operators from December 3

The UAE Central Bank will start taking legal action against non-registered Hawala service providers when registration deadline expires on December 2, 2020, after which no Hawala service provider will …
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Posted on 24/11/2020

Sharaf DG, UAE’s leading electronics retailer announced their commencement of DG Friday Sale

Sharaf DG, UAE’s leading electronics retailer announced their commencement of DG Friday Sale. With an Omni channel presence, retailer has …
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Posted on 24/11/2020

Business community welcomes UAE’s 100% ownership rules

The UAE has once again proved itself a resilient business hub … Pakistan has kept its main policy rate unchanged at 7 per cent, the central bank said on Monday, as consumer price index inflation …
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Posted on 24/11/2020

UAE central bank extends banking stimulus scheme to stem coronavirus impact

The United Arab Emirates central bank said on Monday it had extended to June 2021 the applicability period of key components of a stimulus scheme to support retail and corporate banking customers …
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Posted on 23/11/2020

Bank Hapoalim inks agreements with UAE financial giants

Bank Hapoalim has signed two agreements with financial entities in the United Arab Emirates aimed at increasing its presence in the Middle East and North Africa. The first agreement was signed with …
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Posted on 23/11/2020

2020 UAE Commercial Banking Report – Insights into the Attitudes and Appetites of Commercial Banking Opportunities – ResearchAndMarkets.com

Insights into the Attitudes and Appetites of Commercial Banking Opportunities – ResearchAndMarkets.com The “UAE Commercial Banking Report” report has been added to ResearchAndMarkets.com’s offering.
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Posted on 23/11/2020

UAE relaxes rules on foreign ownership of companies amid pandemic fallout

The United Arab Emirates has relaxed and removed a range of limits on foreign ownership of companies, state-run media reported, in the country’s latest bid to boost its global status and attract …
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Posted on 23/11/2020

AcwaPower plans IPO next year – chairman

Riyadh – AcwaPower is planning an initial public offering (IPO) in 2021, the company’s Chairman Mohammad Abunayyan revealed on Sunday. In an interview with Alarabiya, the chairman said that the size …
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Posted on 22/11/2020

UAE-based Amlak Finance sells 821,275 shares

Amlak Finance has sold 821,275 shares, representing 0.00055% of the company’s subscribed capital, through its broker ENBD Securities. The selling price per share is valued at AED 0.26, according to …
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Posted on 22/11/2020

UAE inches closer to cashless economy target: Standard Chartered

Dubai: The Middle East region is witnessing a big leap in banking sector digitisation and sustainable finance as the UAE moves closer to becoming a cashless economy, Sunil Kaushal, CEO of Standard …
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Posted on 22/11/2020

From Roscommon to the UAE – unravelling a €5.3m forestry investment fraud

When Declan de Lacy was appointed as liquidator of a company set up to sell forests in Ireland to investors he had no idea that his efforts to recoup their funds would send him on a complex money …
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Posted on 22/11/2020

Top ten UAE banks’ profitability deteriorated in Q3 2020

Top 10 banks have provided borrowers access to Dh51.1billion at the end of the third quarter under the UAE Central Bank’s Targeted Economic Support Sceheme (TESS). We expect the economic …
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