Dubai: The high cost of living is always a personal finance issue for many people in many parts of the world. Households constantly worry about how they can keep a roof over their heads, put food on the table or send their children to school without …
( read original story …)
UAE’s Dana Gas agrees $700m sukuk restructuring deal
Dana Gas has reached agreement with creditors on restructuring $700m of sukuk, it said on Sunday, potentially ending a protracted legal battle that unsettled the global Islamic finance industry. The United Arab Emirates energy company said in June that it …
( read original story …)
U.S. and UAE sign pact to resolve airline competition claims
The voluntary agreement, which applies to Etihad and Emirates airline, is similar to a deal announced in January between the United States and Qatar in which Qatar agreed to release detailed financial information about state-owned Qatar Airways. The UAE’s …
( read original story …)
Dubai’s stock market sees 52% slump in Q1 net profit
Dubai Financial Market Company on Tuesday announced a net profit of AED48.9 million ($13.3 million) in the first quarter of 2018, a 52 percent decrease compared to the year-earlier period. The company’s total revenue also fell by 34 percent to AED99.1 …
( read original story …)
UK agency to provide $135m for Dubai World Trade Centre expansion
UK Export Finance (UKEF), the UK’s export credit agency, is to provide support of more than £100 million ($135.2 million) for the construction of the fourth phase of the Dubai World Trade Centre. Phase four will see the construction of an onsite hotel and …
( read original story …)
UAE Ministry of Finance Organizes a Workshop on the Launch of the Automated Reconciliation System
As part of its ongoing efforts to provide the best integrated solutions that improve the levels of financial management systems, the Ministry of Finance (MoF) organised a workshop today on the launch of its automated reconciliation system specific to …
( read original story …)
Dates set for new Dubai Islamic Bank rights issue
Dubai Financial Market (DFM) has announced that the rights issue of Dubai Islamic Bank is due to trade on the exchange between May 16-30 May as the bank embarks on a capital increase. Trading of the rights issue enables existing shareholders of the bank …
( read original story …)
FAB Named Best Investment Bank in the UAE for the Second Year in a Row
First Abu Dhabi Bank (FAB), the UAE’s largest bank, and one of the world’s largest and safest financial institutions, has been named ‘Best Investment Bank in the UAE’ at the prestigious Euromoney Awards for Excellence 2018. FAB’s Head of Global …
( read original story …)
Mashreq Bank to offer commercial borrowings in Indian Rupees
The UAE’s Mashreq Bank has announced it will enter India’s non-bank financial institution (NBFI) sector through by offering external commercial borrowings in Indian Rupees through an engagement with IL&FS Financial Services Ltd. Through the IL&FS Group …
( read original story …)
UAE’s Emirates Global Aluminium likely to delay IPO
Sources had previously said that Bank of America Merrill Lynch, Goldman Sachs and JP Morgan had been hired to run the IPO. EGA, owned by Mubadala and Investment Corp of Dubai, was created in 2013 when state-owned companies Dubai Aluminium and Abu Dhabi’s …
( read original story …)
Sharjah Islamic Bank celebrates listing of $500m sukuk
Mohammed Abdulla, CEO of Sharjah Islamic Bank, on Wednesday rang the market opening bell to celebrate the listing of a $500 million sukuk on Nasdaq Dubai. The sukuk is the bank’s third that is listed on Nasdaq Dubai, the region’s international exchange …
( read original story …)
Saudi fund hires HSBC’s local head of asset management
Dubai: Saudi Arabia’s sovereign wealth fund hired HSBC Holdings … Cyrille Urfer, who managed stocks, bonds and hedge funds for the fund, left after less than 18 months in the role, people familiar said in April. Jacobo Solis, who joined the fund …
( read original story …)
Saudi sovereign fund said to hire HSBC senior executive
Cyrille Urfer, who managed stocks, bonds and hedge funds for the fund, left after less than 18 months … newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
( read original story …)
Dubai Investments posts 25% jump in Q1 net profit
In March, Dubai Investments announced plans to lead a consortium of investors to launch Arkan Bank, a wholesale Islamic financial institution with an initial paid-up capital of $100 million. Arkan Bank is applying to the Dubai Financial Services Authority …
( read original story …)
Dubai Holding to Launch Region’s First Digital Bank
Dubai Holding, the global investment holding company, has announced it will invest up to AED 1 billion over the next five years to launch a next generation digital bank for the UAE, with plans to expand services across the Middle East and North Africa region.
( read original story …)
Dubai Investments posts 25% growth in Q1 2018
RELATED ARTICLES: Dubai Investments unit to lead Emicool IPO | Dubai Investments to sell Emicool stake in Q4 2018 | Dubai Investments buys Union Properties’ Emicool stake for $136m Diversified investments conglomerate Dubai Investments has seen its net …
( read original story …)
Dubai Holding set to invest $270m in new digital bank
Dubai Holding, the global investment holding company, has announced it will invest up to AED1 billion ($270 million) over the next five years to launch a next generation digital bank for the UAE. The company said it already has plans to expand services …
( read original story …)