Dubai: A foreign bank branch will have to pay €70,000 plus an appropriate amount of compensation to a local company for its malpractice in processing the plaintiff’s letter of credit. The case was recently resolved by the Expertise and Dispute …
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UAE Food Bank to collect displayed items at Gulfood for donation
Dubai: Having channelled over 600 tonnes of food donation last year, the UAE Food Bank is not missing any chance to make sure surplus food at any potential venue reaches the needy. With that aim, the Food Bank will collect the food items that are being …
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Dubai Islamic Bank : DIB lists $1b sukuk on Nasdaq Dubai
Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE, rang the market-opening bell today to celebrate the listing of a $1 billion Sukuk on Nasdaq Dubai. The Sukuk is the first benchmark dollar-denominated Sukuk from a GCC issuer in 2018 and …
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Dubai Islamic Bank celebrates Nasdaq Dubai Sukuk listing
It is DIB’s sixth Sukuk on Nasdaq Dubai, making the bank the largest UAE debt issuer by value on the exchange with a total of $5.25 billion. The latest Sukuk, carrying a profit rate of 3.625 per cent with a five-year tenor, attracted investors from the …
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Qatar’s Commercial Bank agrees to sell stake in UAE’s UAB to Tabarak
Commercial Bank, Qatar’s third largest bank by assets, has agreed, in principle, to sell its 40 per cent stake in Abu Dhabi-listed United Arab Bank to United Arab Emirates-based Tabarak Investment, sources told Reuters on Tuesday. The sale will be …
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UAE biggest source of GCC remittances to Philippines in 2017
Dubai: The value of remittances … posting the biggest jump of 30.8 per cent from a year earlier. The figures are based on bank reports and refer only to funds coursed through banks. Overall, Filipinos from around the world remitted a total of $31.3 …
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Obaid Humaid Al Tayer Meets Vice President and Finance Minister of Switzerland in Dubai
As part of the Ministry of Finance’s efforts to develop the UAE’s network of international relations, HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs met with HE Ueli Maurer, Swiss Vice President and Finance Minister, accompanied by …
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Qatar lender to sell stake in UAE’s UAB to Tabarak
Abu Dhabi, Dubai: Commercial Bank, Qatar’s third largest bank by assets, has agreed, in principle, to sell its 40 per cent stake in Abu Dhabi-listed United Arab Bank to United Arab Emirates-based Tabarak Investment, sources told Reuters on Tuesday.
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UAE bourses stay sluggish amid select buying
The Dubai Financial Market General Index closed 0.84 per cent lower at 3,270.34. Traded value was at Dh233 million. “Trading volumes remained modest on UAE financial market on new catalysts, especially after Al Waha Capital proposed lower than expected …
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UAE firms prepare to file the first VAT return
During the first 100 days of VAT in the UAE, organisations have to navigate various complexities in order to ensure they have a compliant reporting process embedded in the business, said experts at a recent event in Abu Dhabi. Business leaders from the UAE …
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UAE Minister Of Finance Sheikh Hamdan Al Maktoum Opens Gulfood 2018
His Highness Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance, today opened Gulfood 2018, the 23 rd edition of the world’s largest annual food and beverage trade show at Dubai World Trade Centre (DWTC). Spread across …
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It’s crucial to prepare children for the next generation of jobs, says Ministry of Finance
The future is already here, and the UAE is certainly keeping up. HE Younis Haji Al-Khoori, Undersecretary of the Ministry of Finance (MoF), speaks exclusively to Time Out UAE Kids ahead of Innovation Playground. The event, hosted by the MoF in …
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UAE Ministry of Finance Holds Discussions on Fintech, Regtech and PPPs for Healthcare
The Ministry of Finance (MoF) held today two open dialogue sessions titled ‘Fintech and Regtech: Revolutionizing Compliance and Promoting Financial Inclusion’, and ‘Partners in care: PPPs for better Healthcare’. The sessions took place on the …
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Dubai wealth fund said to seek $1bn loan
The loan was priced at a spread of 215 basis points over benchmark rates. HSBC Holdings, Citigroup, Standard Chartered, Emirates NBD and Dubai Islamic Bank were among lenders that provided the original loan.
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Emirates NBD Bank : Possible Saudi MSCI inclusion, Aramco IPO to spur Gulf equities
two developments the UAE lender is banking on to drive a turnaround for Gulf equities and result in a huge “wave” of money flowing into capital markets. Gulf equities have been laggards in terms of performance compared to their emerging or developed …
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Nasdaq Dubai launches futures on ADX to attract investors
The index provides a benchmark of the overall performance of the ADX market which is the second largest in the GCC by market capitalisation and includes First Abu Dhabi Bank, Eshraq Properties … latest expansion of Nasdaq Dubai’s futures market …
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Emirates NBD Bank : RTA, Emirates NBD endorse plan for payment of fines and seasonal parking cards in instalments
DUBAI, 19th February, 2018 (WAM) — The Roads and Transport Authority, RTA, in Dubai and the Emirates National Bank of Dubai, Emirates NBD, have agreed on an initiative whereby fines payable by road users to the RTA and fees of seasonal parking cards can …
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