(MENAFN) UAE-baded Amlak Finance declared its first fully-owned housing project in Mirdif to have been concluded. Amlak Finance managing director and CEO Arif Alharmi announced “we are pleased to announce the completion of the Amlak’s first fully-owned …
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Trakhees Makes It Easier for Its Customers by Integrating With Dubai Islamic Bank
Following the government trend in adopting smart technological transformations using advanced technologies to lessen the number of physical applicants and Customer Visits, Department of Planning and Development – Trakhees, the Regulatory arm of Ports …
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Gulf Navigation announces plans to raise $122m through IPO
The IPO is expected to be launched in the first quarter of 2018 … Subscribe to Arabian Business’ newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
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Saudi construction giant plans IPO to sell 30% of subsidiary
Saudi builder Dar Al Arkan Real Estate Development Company has announced plans to sell 30 percent of a subsidiary in an initial public offering (IPO). The company said in … expand to global markets, selecting Dubai as the launchpad with an AED800 million …
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UAE Ministry of Finance Approves First Purchase Invoice With VAT
Following its commitment to the UAE’s various government finance procedures, laws and regulations; the Ministry of Finance (MoF) has today issued the first VAT inclusive purchase order, and approved the first VAT invoice on its federal financial system.
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Mashreq Bank Receives Nine Awards From Global Finance in London
Mashreq Bank, the UAE’s leading financial institution was presented with nine awards at the Digital Bank Conference and Awards dinner hosted by Global Finance magazine in London, England. The dinner hosted at the RSA House in London saw Mashreq win …
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UAE bourses start new year on a strong note
Emaar Properties and Dubai Islamic Bank helped the Dubai index push higher by more than 1 per cent on the first trading day of 2018 after the index shed more than 4 per cent last year amid sluggish volumes. The Dubai Financial Market General Index closed 1 …
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UAE Ministry of Finance Announces the Readiness of the Federal Financial System to Implement Value Added Tax
The Ministry of Finance (MoF) has announced that the Federal Financial System has been updated and is ready to manage all financial transactions related to the value added tax (VAT). This confirms MoF’s commitment to managing and developing the …
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Real salaries in the UAE set to drop in 2018
Real wages are expected to fall in the UAE this year as inflation is set to exceed salary rises, according to the Hay Group. A forecast issued by the Hay Group division of Korn Ferry said that in the UAE, inflation of 4.6 percent combined with pay …
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UAE MoF announces readiness of Federal Financial System to implement VAT
This confirms MoF’s commitment to managing and developing the government financial systems in order to facilitate the federal entities’ transactions. All federal entities linked to the Federal Financial System are able to perform various VAT-related …
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Dubai billionaire to take on Amazon and his extreme work ethic for his staff
A DUBAI billionaire is vowing to take on Amazon with his emerging e-commerce empire — and to get to the top he has some extreme working conditions for his staff. Mohamed Alabbar, 60, a real-estate tycoon, wanted to create a viable competitor to US tech …
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Will UAE banks increase their fees due to VAT? Find out
The UAE Central Bank has asked local banks not to increase the existing fees for customers due to upcoming Value-Added Tax (VAT). “Banks and finance companies will not be permitted to exceed the fees structure for individual customers because of VAT …
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Emirates NBD Bank : inks contract to offer clearing services
“We want to thank Emirates NBD for their integrated approach to stock market settlements, which will add depth to the UAE’s equity markets. We look forward to working closely with the bank on our transactions,” Hassan Al Shamsi, Shurooq Stocks …
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UAE conventional banks’ assets hit D2.148 trillion
accounting for around 80 percent of the UAE banking system’s total assets, which reached Dh2.687 trillion. Islamic banks accounted for the remaining 20 percent, with total assets of Dh538.5 billion, a Wam news agency report said quoting the UAE Central …
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Abu Dhabi Commercial Bank : Sharjah developer secures $270m funding for mega project
The Islamic facility was arranged with Abu Dhabi Commercial Bank (ADCB) and Dubai Islamic Bank as joint mandated lead arrangers and bookrunners. Aljada, a master-planned destination with a sales value of AED24 billion, was unveiled by Sheikh Dr Sultan bin …
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Bahrain’s Al Baraka, Morocco’s BMCE Bank launch Islamic lender in North African country
Bank Al Tamweel wa Inma (BTI) Bank, which opened its headquarters in Casablanca this week, plans to have 37 branches by 2022 in various cities of Morocco, ABG said in a statement on Nasdaq Dubai where its shares are listed. “We are confident of the large …
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ARADA secures AED 1 billion financing from ADCB and Dubai Islamic Bank
ARADA has secured a syndicated loan of AED1 billion from two major UAE banks that will help finance the development of Sharjah’s largest mixed-use megaproject, Aljada. The Islamic facility was arranged with Abu Dhabi Commercial Bank (ADCB) and Dubai …
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