UAE-based conglomerate Al Ahli Holding Group announced that it has secured an Islamic club financing facility worth $340m (AED1.25bn) for the expansion of Dubai Outlet Mall. Scheduled to open in the fourth quarter of 2019, the mall expansion will see 279 …
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Riding the IPO bullrun
“In the UAE, prospective companies looking to IPO will look at the market conditions; if regional markets are on an upswing and sentiment is positive then we could see a rush of IPOs. However, as happened a few years ago, if markets falter and sentiment …
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UAE to take more manpower from Bangladesh: Mannan
I think if UAE recruits Bangladeshi workers more in the coming days, it would be beneficial for both the countries,” State Minister for Finance and Planning MA Mannan informed, reports BSS. Mannan attended the two-day 4th Bangladesh-UAE Joint Commission …
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Dubai Investments to IPO at least 30 per cent of Emicool
Dubai Investments, a diversified company in which sovereign wealth fund Investment Corporation of Dubai has an 11.54 per cent stake, plans to float at least 30 per cent of its district cooling unit Emicool by the end of 2018 on the Dubai Financial Market …
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Al Mal Capital named lead manager for Emicool IPO
Dubai Investments, a leading diversified investment company, has announced that its subsidiary Al Mal Capital, a prominent financial institution, will be the lead manager for the initial public offering (IPO) of its wholly-owned subsidiary Emirates …
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No plans to invest in Bitcoin or any other cryptocurrency: UAE Exchange CEO
UAE Exchange CEO Promoth Manghat says cryptocurrencies aren … for the SWIFT messaging system that banks and exchange houses currently use to communicate financial transactions. “The Ripple network has a simple proposition: instant messaging.
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Experts: New UAE rule on ‘Good Conduct and Behaviour’ Certificate means employers must be diligent
CRI Group urges all UAE organisations to implement thorough background screening … CRI Group safeguards businesses by establishing the legal compliance, financial viability, and integrity levels of outside partners, suppliers and customers seeking …
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Massive 55% tax coming to the UAE
Good news for the UAE: No value-added tax (VAT) increases for upcoming 5 years. UAE Minister of State for Financial Affairs Obaid Al Tayer said at the Arab Fiscal Forum the government has no plans to raise the rate of VAT or excise tax in the near future.
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The World is BACK! Multi-billion pound archipelago of ‘countries’ in Dubai with artificial celebrity-owned fantasy islands is resurrected ten years after the vision was …
A multi-billion pound vision for an archipelago of ‘countries’ in Dubai with artificial, celebrity-owned fantasy islands has been resurrected – ten years after it was abandoned due to the financial crash. The World, a 300-island chain laid out in the shape …
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Dubai Financial Market : DFM-listed firms fully-comply with disclosure requirements
Companies that missed the deadline have been reported to the SCA A total of 50 Emirati companies listed on the DFM have disclosed their preliminary results, while 11 listed foreign firms have posted their results, out of a total of 15, the Dubai-based …
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Saudi Arabia’s central bank signs blockchain deal with Ripple
DUBAI (Reuters) – Saudi Arabia’s central bank has signed a deal with U.S.-based Ripple to help banks in the kingdom settle payments using blockchain software, as Gulf regulators begin to explore new forms of financial technology. The pilot program is the …
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Mashreq Bank deploys AI solution
UAE’s Mashreq Bank has partnered with Blue Prism to increase productivity, improve customer experiences and deliver new services through an integrated AI solution. The Digital Workforce platform will automate dozens of the bank’s processes across …
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The ‘black magic’ bank heist
One day in August 1995 a man called Foutanga Babani Sissoko walked into the head office of the Dubai Islamic Bank and asked for a loan to buy a car. The manager agreed, and Sissoko invited him home for dinner. It was the prelude, writes the BBC’s Brigitte …
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Dubai finds solution to bitcoin hacking – the most protected vault in the world
The regulator of Abu Dhabi’s international financial centre said it could create rules for exchanges handling virtual currencies, in a sign that authorities in the United Arab Emirates may allow trade in cryptocurrencies such as bitcoin to develop.
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Dubai’s Shuaa plans Egypt expansion as economy recovers
has said it plans to expand its capital markets business in the Middle East following a return to profit for the investment bank. Shuaa Capital is assessing potential acquisitions in Egypt’s financial services industry as the Dubai-based firm seeks to …
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Dubai’s first licensed Bitcoin trader: ‘It’s a commodity not a currency’
The licence was issued by the Dubai Multi Commodities Centre (DMCC) under a new regulatory framework it revealed back in November last year, and it allows companies such as Regal RA to buy, sell and store a range of cryptocurrencies such as Bitcoin …
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Emirates NBD ranked UAE’s top banking brand for 2nd consecutive year
Emirates NBD today announced its position as the UAE’s most valuable banking brand with a US$3.534 billion brand valuation in The Banker’s annual brand valuation league table. The bank also secured a spot among the top 100 global banking brands, coming …
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