GFH was the most actively-traded stock on the Dubai market, as company’s shares rise for second day in a row Shares in GFH Financial Group rose for the second session in a row on the Dubai Financial M…
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Dubai’s penny stocks see mild traction
witnessed buying in the last hour of trade in Dubai, led by a Gulf Finance House (GFH) recovery after traders saw positive movement in US futures. GFH closed more than 5 per cent higher to end at …
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UAE Minister of Finance, Bahraini counterpart discuss mutual cooperation
H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, and Sheikh Salman bin Khalifa Al Khalifa, Bahraini Minister of Finance, have discussed cooperation between the …
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UAE: ICO Regulations by Mid-2019 Could Propel the Country’s Cryptocurrency Ecosystem
Notably, the SCA will work with the Abu Dhabi Securities Exchange and Dubai Financial Market towards the development of trading platforms for ICOs in 2019. Andrea Bonaceto, CEO of Eterna Capital, shar…
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UAE expat poll shows dissatisfaction with financial advice
Just as the UAE’s finance ministry launches new regulations, a poll of expatriates has revealed 32 per cent don’t trust IFAs. The CFA Institute study centred on the trustworthiness of financial adviso…
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UAE conventional bank assets hit $620bn
The assets of UAE conventional banks (CB) amounted to around Dh2.275 trillion ($620 billion), accounting for 79.7 percent of total banking assets by the end of November 2018, a media report said. Shar…
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UAE bank assets rise 6% to Dh2.85tn led by growth from conventional lenders
The UAE’s bank assets rose 6 per cent to Dh2.85 trillion in the first eleven months of this year from the end of December 2017, led by growth in conventional bank assets, latest central bank figures s…
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Financial advisers and employers must step up to help expatriates fill the retirement gap
Saving for retirement is set to evolve for UAE residents, according to experts, as financial advisers and employers face pressure to offer better options amid a raft of UAE government reforms. With a …
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UAE conventional banks’ assets hit Dh2.275 trillion
The assets of UAE conventional banks (CB) amounted to around AED2.275 trillion, accounting for 79.7 per cent of total banking assets by the end of November 2018, with Sharia-compliant banks …
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Bank of Sharjah open to mergers
The Bank of Sharjah is open to mergers as the consolidation trend in the UAE’s banking sector is set to continue, said a senior executive at the bank. “We are not talking to any bank for merger. There …
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UAE banks shares hold up even as real estate take a dive
Banking stocks listed on the UAE bourses have been untouched by the recent sell-off that adversely impacted real estate shares. They are still holding up because of expectations that further Fed …
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ICO regulations will make UAE destination of choice for crypto-industry in 2019, experts say
With initial coin offering rules to be finalised by mid-2019, the UAE is all set to join the ranks of top global financial markets regulating crypto-assets and will be among the top regional destinati…
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UAE launches e-refund system for federal transactions
The UAE Ministry of Finance has launched a new system to facilitate e-Dirham refunds on services and transactions for all federal entities as part of its ongoing efforts to improve the quality and spe…
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MIDEAST STOCKS-Saudi banks rebound after tax deal, Dubai hits 5-year low
Emirates NBD, Dubai’s biggest bank, shed 5.6 percent in thin trade. Dubai Financial Market, operator of the exchange, lost 4.2 percent and DAMAC Properties was down 1.4 percent. But Union Properties j…
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1,000 jobs said to be at risk in proposed Abu Dhabi banking merger
In the UAE, where residency is tightly linked to employment … Job losses from last year’s merger between National Bank of Abu Dhabi and First Gulf Bank, which created First Abu Dhabi Bank, were neve…
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UAE banks’ digital drive causes upheaval in jobs market
Profits for the first nine months of the year are up by 5 percent to 1.75 billion UAE dirhams. In a press release accompanying the firm’s results, the bank’s chairman, Abdulaziz Al Ghuruair, said: “As …
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Gross UAE bank assets surge 6% to Dh2.85 trillion
The gross assets of UAE banks surged six per cent to Dh2.854 trillion by the end of November 2018 from Dh2.694 trillion a year ago, the Central Bank of the UAE said. The banking sector’s gross credit …
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