DUBAI The Dubai government said on Sunday that it had secured $3 billion in long-term financing for expansion of its airports. The deal, for which HSBC acted as financial adviser, included a $1.63 billion, seven-year conventional loan and a $1.48 billion …
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MoF holds the second meeting of the Government Financial Policy Coordination Council of 2017
The Ministry of Finance (MoF) recently held the second meeting of the Government Financial Policy Coordination Council for 2017 in its headquarter in the Dubai. The meeting was headed by HE Younis Haji Al Khoori, Undersecretary of MoF and Chairman of the …
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Dubai’s Mashreq to launch new digital bank, CEO says more UAE bank mergers likely
Dubai bank Mashreq will be launching a new digital bank this year, its CEO Abdul Aziz Al Ghurair confirmed on Wednesday. Speaking to reporters, Al Ghurair said the new lender would provide all the regular banking services but have “no branches”.
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Mashreq celebrates 50th Year as the most progressive bank that enables possibilities through innovation
Mashreq Bank, the UAE’s oldest privately owned bank, is celebrating its 50 year anniversary in the United Arab Emirates today at the Dubai Opera. With 50 years of achievements, the bank is the market leader when it comes to product and service innovation …
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Whole Foods board overhaul fails to satisfy activist Jana: source
While the hedge fund appreciated the board overhaul and the operating experience … head of event-driven research at Gordon Haskett. DUBAI/MILAN/PARIS (Reuters) – The naming of a new boss at Etihad Airways presents the Gulf carrier with an opportunity…
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Manipulation’s Persistence and Comex’ Demise
Dubai has historically been a central hub for gold trading … So feel free to fire a couple traders and seed their new hedge funds. Then do all your deals with them via a closely held Singapore shell in which you control the voting shares.
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Digital investment fund plans to raise $300m
Alphabit is registered in Dubai and the Cayman Islands. Fees include 2.5% for management and 45% for performance. The latter will only apply if the fund outperforms the price of Bitcoin, said Robertson, a former currency trader at hedge fund Light Peak …
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NYSE executives to woo Aramco IPO in upcoming Saudi visit
RIYADH/DUBAI A New York Stock Exchange (NYSE … as top exchanges around the world vie to win slices of Aramco’s initial public offering IPO-ARMO.SE, expected to be the largest in history. Aramco plans to list about 5 percent of its shares, mostly on …
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Better times ahead for UAE banking sector: CBD’s CEO
The UAE’s banking sector is expected to perform better in 2017 in terms of asset growth, asset quality and profitability compared to 2016, said Dr Bernd van Linder, Chief Executive Officer of Commercial Bank of Dubai (CBD). Speaking to reporters at the …
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Dubai International Financial Centre drives institutional real estate investment through Memorandum of Understanding with Dubai Land Department
Dubai International Financial Centre (DIFC), the leading financial hub in the Middle East, Africa and South Asia (MEASA) region, has signed a Memorandum of Understanding (MoU) with the Dubai Land Department (DLD) to allow entities based in the Centre to …
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Personal Finance Technology: 3 Easy Steps to Manage Your Money in a Digital World
Amid this more difficult climate, the aggregator site and its rival Souqalmal are an example of the changing personal finance landscape in the UAE and wider Gulf region, with technology playing a larger role than ever before. Where once applying for an …
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Union National Bank: the future of Islamic finance
There are now around 15 Islamic banks and finance companies operating in the UAE. Across the world, Islamic finance has seen rapid growth, with assets reaching $2trn with expectations to cross the $3trn mark by 2018. This development has been driven by a …
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Standard Chartered says retail banking business in UAE picking up
DUBAI Standard Chartered’s [STANB.UL] banking business in the United Arab Emirates is performing much better than last year, helped by growing consumer confidence, the bank’s head of retail clients in the UAE said on Thursday. Banks operating in the oil …
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Money matters: Profits up for banking sector in the UAE
Retail banking business in the UAE has endured a challenging economic environment, slow growth, margin pressures and persistent loan impairments for several quarters in the recent past. In a positive turn of events, several major banks have posted good …
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Dubai Islamic Bank confirms licence for Kenya unit
Dubai: Dubai Islamic Bank (DIB), the largest Islamic Bank in the UAE on Tuesday said that it has been given a licence by the Central Bank of Kenya (CBK) to operate its subsidiary, DIB Kenya Ltd. In a statement to the Dubai Financial Market where DIB shares …
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Disrupting personal finance in the GCC
Amid this more difficult climate, the aggregator site and its rival Souqalmal are an example of the changing personal finance landscape in the UAE and wider Gulf region, with technology playing a larger role than ever before. Where once applying for an …
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UAE- Why the Blackstone trade idea was a winner
I had declined Morgan Stanley’s offer of dinner with founder Steve Schwarzman when I was the CIO of a royal investment office in Dubai during the June 2007 IPO of Blackstone. I thought the shares were grossly overvalued and refused to bid. The biggest …
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