sources familiar with the IPO discussions have said. (Writing by Rania El Gamal; Additional reporting by Tom Arnold in Dubai, Jennifer Hughes in Hong Kong and John McCrank in New York; Editing by Pravin Char)
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DIFC Achieves Record Growth in 2017 as MEASA’s Leading Financial Hub
Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, reported today that it has achieved sustained growth of its financial community with the total number of …
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Creating opportunities for the UAE along the Belt and Road Initiative
The Dubai International Financial Centre (DIFC) has played a central role in this success story; the offering of independent regulators and judicial systems has already attracted many of China leading financial firms, especially with an agreement signed …
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Financial authority warns consumers of UAE scam
The latest forged documents seized by the Dubai Financial Services Authority (DFSA) include forged certificates of incorporation and money laundering clearance. Logos of the United Nations and Dubai International Financial Centre (DIFC) have also been …
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UAE bank donates $136k to help resolve Dubai rental disputes
The Rental Disputes Centre (RDC), the judicial arm of Dubai Land Department, has received a donation of AED500,000 ($136,000) from Emirates Islamic Bank to support insolvent tenants in rental claims disputes. The donation will be used to pay the dues in …
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Bank initiative seeking to remove Dh65.4 billion in cash from UAE streets
Maki Vekinis, the managing director of Emirates Digital Wallet, wants to take Dh65.4 billion off the streets of the UAE – not in a daring heist but by replacing notes and coins with digital money for the benefit of residents and banks and the over 1 …
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Dubai’s financial hub posts record growth in 2017
Dubai International Financial Centre (DIFC) posted a 1 percent increase in combined revenue in 2017, DIFC Governor Essa Kazim announced on Monday. In its 2017 annual review, DIFC noted that combined revenue rose from $218 million in 2016 to $221 million in …
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Citi implements its global digital strategy in UAE consumer and wealth business
Dubai: Citi, as part of realigning its consumer banking strategy across all its markets with focus on emerging affluent and affluent customers has set strong growth targets for the UAE and Gulf markets, said Francisco Aristeguieta, CEO of Citi, Asia.
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Doha Bank’s Seetharaman chosen ‘CEO of the Year’
Seetharaman receiving the ‘CEO of the year’ award at the EMEA Finance Middle East Banking Awards 2017 Ceremony in Dubai recently. Doha Bank CEO Dr R Seetharaman won the “CEO of the Year” for bringing “transformational leadership” in Doha Bank …
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Beware of this UAE scam, warns financial authority
Dubai: UAE consumers and businesses were warned on Sunday to be on alert for scammers who continue to impersonate financial services authorities to defraud them of their hard-earned money. Fake certificates of incorporation and money laundering clearance …
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UAE implicated in Trump election ‘finance for favours’ probe: Report
Potential attempts by the United Arab Emirates to purchase influence and get the White House to back its regional policy are being investigated by a special team looking into US election fraud, a weekend report has revealed. A team led by Robert Mueller …
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TrumpWatch, Day 408: Mueller Investigating Gulf State’s Financial Influence in Trump Campaign
The UAE line of inquiry appears to be part of a wider examination of possible foreign influence through financial support of Trump’s inner circle. Revelations in the past week have focused on Trump’s son-in-law Jared Kushner, who reportedly sought …
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Starz Play to show new season of ‘Billions’ same time as the US
Dubai-based Starz Play will air the premiere of Billions the … The drama centres around the rivalry between federal prosecutor Chuck Rhoades Jr. (Paul Giamatti) and hedge fund billionaire Bobby Axelrod (Damian Lewis) over his financial crimes as in …
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Nearly 1,300 bank jobs cut in Abu Dhabi in 2017, statistics show
Almost 1,300 bank jobs were cut in Abu Dhabi over the course of 2017, bringing the total number of bank employees in the emirate to 11,877 at the end of Q4 2017, according to new preliminary statistics from the Statistics Centre Abu Dhabi (SCAD).
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UAE banks need to be in step with Fed hikes
As the UAE dirham is pegged to the US dollar, the change in Fed rates translated to a proportional increase in the country’s policy rates. The hike in Fed rates will have repercussions across most GCC states as the consequent escalation in bank finance …
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How Abu Dhabi is Increasing its Success with Crypto-Trading Regulation
Dubai is recognized as a global hub of Smart city and IoT innovation and has already kicked off multiple blockchain initiatives and is continuously rolling out services,” Hacker says. Hacker also agrees that the UAE will pioneer comprehensive …
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Bank of Baroda offers housing loans at reduced rates
Bank of Baroda, the only Indian bank present in mainland of UAE with its six branches, nine EBSUs and 47 ATMs, has substantially reduced housing loans interest rates as UAE residents are constantly looking at good deals and exploring payment options in …
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