Qatar crisis sends tremors through banking in the Gulf

Officials concede that Dubai cannot disentangle itself from the UAE’s role in the embargo. The UAE central bank ordered lenders in the federation to impose enhanced due diligence measures on six Qatari lenders. The DIFC’s regulator has also told ... ( read original story ...)

This time, the Gulf IPO wave looks likely to make it ashore

That could happen as a soon as next month, with a suggested market capitalization in the region of $6 billion and an IPO value of around $2 billion. The cash will be used mainly to pay dividends, with the government of Dubai a prime beneficiary from its 29 ... ( read original story ...)

What America thinks of Saudi Aramco

DUBAI: As Saudi Aramco ponders the venue for what will be ... They see it as a traditional oil company but also one which is diversifying into other areas. “The hedge funds will probably like it less. It will not be a stock where they can make millions ... ( read original story ...)

The bank of the future

Today, for our mobile banking application, Snapp, our oldest customer is almost 92 years old, while the youngest is 18. All this comes as the infrastructure for digital becomes well entrenched in the UAE. Mobile phone penetration is now at a world-record ... ( read original story ...)

Ackman reaches out to ADP retail investors, softens image

The 51-year-old hedge fund manager is pushing ADP to cut bureaucracy ... He also said he is open to having top executives stay and would not envision large scale-layoffs. RAQQA/DUBAI (Reuters) - While Syrian President Bashar al-Assad was accusing the ... ( read original story ...)

Dubai Islamic Bank third-quarter profit up 26%

DUBAI: Dubai Islamic Bank (DIB), the United Arab Emirates’ largest Sharia-compliant lender, posted a 26 percent increase in third-quarter net profit on Wednesday as higher income from Islamic financing and investing offset a rise in impairment charges. ( read original story ...)

Qatar National Bank rules out sale of stake in UAE bank

DUBAI- 11 October 2017:Qatar National Bank’s said on Wednesday its stake in United Arab Emirates-based Commercial Bank International is not for sale. There has been speculation over QNB’s stake in the UAE bank after other Qatari companies cut some UAE ... ( read original story ...)