In the event of an IPO, the certificates will transfer into an exchangeable sukuk, maturing 2 years from the IPO date, the Dubai-based company said in a statement. It added that the funding will be used to support its expansion in the region. Alan Gow …
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Yemen PM: Crisis over UAE deployment to Socotra over
The resolution of the weeks-long dispute came a day after Saudi Arabia deployed troops to the strategic island and signed a deal with the UAE to return the island’s sea and airports to Yemeni forces, according to state-run Saba news agency. The crisis over …
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UAE digital bank attracts 10,000 new customers per month
international 60-second remittances as well as curated daily feeds of selected deals and happenings in the UAE, personalized to the customer’s preferences. The launch of Liv. Goals, a new feature that allows customers to set and save towards financial …
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Dubai Financial Market : Mada’in Properties reports significant earnings growth in FY 2017
Mada’in Properties PJSC has reported a significant growth in its operating revenue for the year ended December 31, 2017. The company has also achieved a net profit of Dh15 million, which represents an increase of 22% over the financial year ended 2016.
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Dubai honours Arab Hope Makers, winners bring home Dh1 million each
Dubai: Mahmood Waheed, who runs a charity that helps homeless elderly in Egypt, was declared the winner of this year’s Arab Hope Makers, the largest Arab initiative dedicated to celebrating philanthropic efforts. Mahmood Waheed, winner of the Arab Hope …
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Etisalat launches the UAE’s first commercial 5G wireless network
Etisalat on Monday announced the launch of the first commercial 5G wireless network in the UAE. Etisalat said it will be the first operator to have a fully developed commercial 5G network available to provide gigabit internet services to its customers.
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Business Heads to Dubai
The Dubai Department of Economic Development, DED, has issued 1,848 new business licenses during April 2018 as the emirate remained a destination of choice for investment in diverse business sectors. The ‘Business Map’ digital platform of DED saw …
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UAE second safest country to live in the world
Dubai: The fact that 96.8 per cent of the people feel it is safe and secure to walk out at night in the UAE, has ranked the country as the world’s second safest place, officials said on Monday. Lt General Dahi Khalfan Tamim, Deputy Chairman of Police and …
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Dubai keeps the doors open for global brands
Dubai matters. The city pulled in the second highest number of international brands (59) after Hong Kong (86) in 2017 and ahead of Taipei (52) and London (49), according to the latest rankings from CBRE, the property consultancy. In 2016, Dubai had …
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Abu Dhabi commits billions to expand its refining capacity
“Given the projected increase in demand for petrochemicals and higher value refined products, we are repositioning ADNOC to become a leading global downstream player,” Ahmed al-Jaber, the CEO of the Abu Dhabi National Oil Co. and the Emirati minister of …
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Gulf Finance Saudi Arabia appoints new CEO
UAE-based financial services group Shuaa Capital has appointed a new CEO for its fully owned Sharia-compliant business financing arm, Gulf Finance Saudi Arabia. The new CEO, Atif Al Othri, will lead a team responsible for providing financial lending and …
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Expenses rising? Here’s how to avoid going broke in UAE
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 …
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DAFZA develops smart city goals with Dubai 10X projects
‘Dubai Blink’ and ‘FZExchange’ are two of 26 ‘Dubai … He added that the ‘FZExchange’ project aims to help investors in the free zones gain easier access to the financial and capital markets by creating a simplified regulatory environment …
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Dubai Islamic Economy Development Centre: Islamic Economy Contributes 8 Percent of Dubai’s GDP
He shared the statistics, mapping the contribution of key sectors – Islamic finance, manufacturing and trade – while chairing the second meeting of DIEDC’s Board of Directors in 2018. The contribution of the Islamic economy to Dubai’s GDP increased …
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Nigeria, UAE agreement on stolen assets takes off next month
UAE. The financial intelligence sharing by the two countries has uncovered some cases involving ex-Minister of Petroleum Resources Mrs Diezani Alison-Madueke and some of her business associates. The assets allegedly identified with Diezani are marked as J5 …
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Islamic Finance: US$400 million Sukuk by DAMAC Real Estate
The bell ceremony took place in the presence of Adil Taqi, Group Chief Financial Officer of DAMAC Properties, Hamed Ali, Chief Executive of Nasdaq Dubai, as well as senior representatives of DAMAC Properties Commenting on the announcement, Hussain Sajwani …
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Emirates NBD’s digital bank Liv. plans regional expansion
Dubai: Liv., the lifestyle digital bank by Emirates NBD targeted at millennials has completed its first year of operations acquiring 100,000 customers, becoming the fastest growing bank in the UAE. Leveraging on in its success in the UAE, the bank has …
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