Dubai: A mega-merger of the two biggest banks in the UAE should leave the combined company with a larger representation on the benchmark emerging-market index, triggering hundreds of millions of dollars of inflows to the stock, according to calculations by …
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DIB launches Panin Dubai Syariah Bank in Indonesia
Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has launched Panin Dubai Syariah Bank in Indonesia, following its acquisition of 40 per cent shares in PT Bank Panin Syariah Tbk. DIB had acquired around 25 per cent shares of Bank Panin …
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Dubai Based Ride-Hailing Firm Careem Seeks Acquisition, IPO an Option
Dubai-based ride-hailing company Careem is looking for acquisition opportunities and is considering an initial public offering as a possible option but has no timeframe in mind, its founder and CEO said. Careem, which competes with Uber and operates from …
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UAE to exempt new residential property from VAT
… property including sales and leasing in the UAE will be exempt from value added tax (VAT), according to the UAE’s finance ministry. In a VAT briefing session for advisors last week, the ministry also confirmed that there will be one exception …
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Dubai Investments manufacturing assets grow to Dh3.05 billion
Dubai Investments, the leading, diversified investment company listed on the Dubai Financial Market, has achieved consistent growth in its manufacturing business with total assets in the sector increasing to Dh3.05 billion, constituting 19 per cent of the …
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What are the key points of planned VAT in UAE?
The UAE Ministry of Finance (MoF) hosted a value added tax (VAT) briefing session for advisors recently. The session aimed to send a clear message to the market, which is that VAT is coming and businesses must begin to prepare immediately, said a …
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Amazon buys Mideast's Souq.com after $800M counteroffer
On Monday, Emaar Malls PJSC made public its $800-million bid for Souq.com in a filing on the Dubai Financial Market. The short filing, signed by Emaar Malls vice chairman Ahmad Thani al-Matrooshi, said the bid was made “in line with the strategy to align e …
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Dubai Chamber briefing sheds light on UAE bankruptcy law
As part of its continued efforts to boost mutual communication between the government and the private sector, the briefing was attended by HE Younis Haji Al Khouri, Undersecretary of the UAE Ministry of Finance, who met with members of the local business …
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Trading begins in ENBD Reit shares following $105 million IPO
Hamed Ali, Chief Executive of Nasdaq Dubai, said the Reit’s successful listing demonstrates … UAE Limited were joint global coordinators and joint bookrunners for the IPO. Associate Business Editor of Khaleej Times, is a well-connected Indian journalist …
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Emaar Malls' $800 million bid for Souq.com to challenge Amazon
DUBAI Dubai’s Emaar Malls, operator of glitzy Middle East shopping centers, has made an $800 million offer for regional online retailer Souq.com [IPO-SOUQ.DU], setting up a potential bidding war with Amazon.com. Emaar Malls’ bid has so far not been …
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Emirates Global Aluminium mandates US banks for IPO: sources
EGA was created in 2013 when state-owned companies Dubai Aluminium (Dubal) and Abu Dhabi’s Emirates Aluminium (Emal) merged. Its enterprise value was put at $15 billion at the time of the merger. It is owned by Abu Dhabi state fund Mubadala Investment Co …
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Dubai's Arqaam Capital launches global hedge fund in rare move
DUBAI, March 27 Dubai-based investment bank Arqaam Capital is launching a globally focused hedge fund, it said on Monday, becoming one of only a handful of local firms to offer such a product. Although Dubai has been growing rapidly as a banking centre …
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Emirates Global said to pick BofA, Goldman and JPMorgan for IPO
If the aluminium producer raises $3 billion, it would be the largest-ever IPO from the UAE, according to data compiled by Bloomberg, surpassing the 2014 stock sale by Emaar Malls PJSC. Spokesmen for EGA and the banks declined to comment.
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Arqaam Capital launches global macro hedge fund
Dubai: Arqaam Capital, the specialist emerging markets investment … and top-tier international investment banks and leading hedge fund managers. The fund will be managed by Areski Iberrakene as Chief Investment Officer. “The launch of Arqaam’s …
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De-risking takes toll on GCC institutions’ access to global banking system
“Financial institutions, here in the UAE and in global banking centers, must ensure they have effective governance in place to adequately assess risks and consider any adverse impact that the termination of correspondent banking relationships may have on …
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Dubai Financial Market : Emirates NBD real estate investment trust climbs in first day of trading on Nasdaq Dubai
Shares in ENBD Reit, the UAE’s second real estate investment trust, rose by 5.4 per cent during its first day of trading on Nasdaq Dubai yesterday as the company said it planned to focus more on investing in schools, health care and logistics, besides …
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Dubai Islamic Bank : DIB supports Dubai’s vision of becoming the Happiest City in the World
Participation in Happiness Meter program underscores DIB’s commitment and dedication to the government’s vision of making Dubai a Smart City and a center of technological excellence Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, is firmly …
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