Dubai Financial Market (DFM) closed at 0.03 per cent to 2,929.06 points, and the Abu Dhabi Securities Exchange (ADX) levelled up 0.34 per cent to 4,550.51 points on Sunday. The UAE bourses are likely to maintain the sideways trend this week amid cautious …
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Abu Dhabi finance hub ADGM to regulate crypto assets
Abu Dhabi Global Market (ADGM), the emirate’s finance hub, has launched a new framework to regulate … In April, a joint venture in Dubai launched three cryptocurrency assets backed by diamonds. Al Kasir Group, which said it is part of a joint venture …
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7 in 10 UAE residents on holiday risk these
Dubai: Financial advisors have said time and again that people should obtain an insurance before hopping on a plane to visit another country. However, a new research found that almost seven in ten UAE residents go on holiday or business trip without …
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Dubai Financial Market distributes AED15.8 billion of cash dividends in 2017
DUBAI, 25th June, 2018 (WAM) — As part of its leading investor and issuer services, Dubai Financial Market (DFM) has successfully accomplished the cash dividend distribution for the financial year 2017. As much as AED15.8 billion been disseminated to …
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Short term deposits decreased and long term deposits increased — Central Bank
Dubai: Money in circulation and short-term bank deposits in UAE have recorded a decrease by 3.3 and 0.7 per cent respectively during the last month of May, UAE Central Bank said in its monthly bulletin. The decrease, however, was overshadowed by a 0.4 per …
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Etihad to loan pilots to competing UAE airline Emirates
DUBAI, United Arab Emirates — Long-haul airline Etihad Airways will loan pilots to competing Dubai-based carrier Emirates under a new program, officials acknowledged Sunday, marking a rare co-operation between the two state-owned carriers who operate …
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JPMorgan to sell stake in Saudi Arabia bank for $203m
Dubai: JPMorgan Chase & Co plans to sell its stake in Saudi Investment Bank back to the Riyadh-based lender at a 24 per cent discount as it exits non-core holdings globally. Saudi Investment Bank signed an agreement to buy the 7.5 per cent stake …
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ADIB becomes first bank to join UAEIIC
Abu Dhabi Islamic Bank (ADIB), a leading financial institution, has joined the UAE International Investors Council (UAEIIC), making it the first bank in the UAE to become a member in the council. This comes following an approval from the board of directors …
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UAE financial firms launch JV to offer savings plans in Saudi Arabia
Shuaa Capital and National Bonds have announced plans to launch a joint venture in Saudi Arabia to offer savings and investments schemes in the Gulf kingdom. The partnership aims to meet a growing demand for investment and savings solutions in the kingdom …
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Dubai Financial Market : Uncertainty with a downward bias prevails in UAE markets
Dubai: Last week the Dubai Financial Market General Index (DFMGI) got hit hard, falling 110.06 or 3.62 per cent to end at 2,928.17. That’s its largest one-week decline since early November 2017. Weakness was widespread as there were only five advancing …
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UAE, Saudi Arabia set to spur IPO boom
Provided by Khaleej Times UAE, Saudi Arabia set to spur IPO boom The initial public offering (IPO) activity in the Middle East is poised to pick up in the second half of 2018 after a slow start in the first half as the result of a privatisation drive …
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DFSA signs MoU with Astana Financial Services Authority
Dubai: The Dubai Financial Services Authority, DFSA, has entered into a Memorandum of Understanding with the Astana Financial Services Authority, AFSA. The MoU was signed in the Dubai International Financial Centre, DIFC, by Bryan Stirewalt, Managing …
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Investcorp’s Undisclosed Payments Didn’t Breach Deal: Court
Law360, London (June 22, 2018, 9:15 PM BST) — The top appeals court for U.K. overseas territories has dismissed claims that Investcorp Bank BSC breached an agreement with a Dubai-based businessman who lost out when a series of leveraged hedge fund …
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UAE Central Bank’s fees cap may push lenders to raise interest rates
The UAE’s Central Bank decision to cap fees and commissions on select banking services may drive some lenders to raise interest rates to cover their risk, banking analysts said. The regulator’s move will mainly affect retail banks, who may see an …
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Revealed: what the new UAE bank fee changes actually are
While credit card and home loan customers will benefit from the bank fees overhaul by the UAE’s Central Bank, some borrowers will lose out, according to analysts who have seen the Amendment circular detailing the changes. Of the 43 capped fees on retail …
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Has your UAE bank added the new fee cap to its website?
The Central Bank of the UAE (CBUAE) has made a significant move to eradicate injustice by setting a maximum limit on fees and commissions charged by the banks. Brought into effect on Tuesday, June 19, expatriates and entrepreneurs living and working in the …
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Here’s what you need to know about the new UAE banking fee regulations
Between all the interest rates, car repayments and hidden charges, it can all be a bit much. Thankfully, the UAE Central Bank has announced that it will be placing new caps on the certain fees that banks and other lenders can charge their customers in the …
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