RAKBANK, also known as The National Bank of Ras Al Khaimah (P.S.C), is one of the UAE’s most dynamic financial institutions. Founded in 1976, it underwent a major transformation in 2001 as it rebranded into RAKBANK and shifted its focus from purely …
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Qatar’s IHG to list on bourse despite diplomatic crisis
DUBAI, Aug 6 (Reuters) – Family-owned Qatari conglomerate Investment Holding Group IPO-INVH.QA plans to list on the local stock market next week in a sign that authorities intend to push ahead with developing Qatar’s financial markets despite a diplomatic …
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Crowdfunding set to revolutionise fund-raising for SMEs
However, the recent efforts of the Dubai International Financial Centre (DIFC) and its regulator, the Dubai International Financial Services Authority (DFSA), are giving it a formal framework that sets out the rules of the game. Crowdfunding is a generic …
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The Latest: Dubai high-rise fire began from clothing
Firefighters say a blaze on a Dubai skyscraper began from clothing left on a balcony. Capt. Amer Abdulwahab al-Qahtani of the Dubai Civil Defence told The Associated Press that Sunday’s blaze at the Tiger Tower began on the 53rd floor. He says …
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New phase of FAB brand roll-out begins
First Abu Dhabi Bank (FAB), the UAE’s largest bank and one of the world’s largest financial institutions, has confirmed that the next phase of its brand roll-out will be launched during the second half of the year. During the coming months, the bank …
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Aramex announces resignation of board member
The company revealed this in a statement posted on the Dubai Financial Market’s website. Aramex’s second-quarter net profit to June 2017 grew by 4 per cent to Dh1.15 billion, compared to Dh1.1 billion in the same period last year. Net profits in the …
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Be cautious of public WiFi scams, says Dubai Police
Dubai Police has issued a warning about the dangers of using … “Cyber criminals will use every opportunity to infiltrate networks in order to gather personal and financial details. Quickly they can extract this information.” Cybercriminals use this …
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Saudi and UAE bourses flat, Qatar stocks fall
Stock markets in Saudi Arabia and Dubai were flat on Sunday after a mixed group of Saudi … citing a decrease in residential sales and higher financial charges. Al Andalus Property edged down 0.5 per cent. It reported second-quarter net profit of 27.6 …
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Protests outside UAE Embassy over terror funding allegations
… reported that some Gulf countries were used to receive funds from banks in Pakistan and UAE owned by the UAE royal family to allegedly finance terror strikes in the U.S. in 2001 and Mumbai in 2008. Banks like the Dubai Islamic Bank in UAE, and the …
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Indian man wins dirham 5 million in UAE draw
Dubai, Aug 6 (PTI) An Indian man in the UAE today hit a jackpot … better time for Thokachichu as he had been struggling to pay back his loans and was facing financial hardships. The Indian based in Ras Al Khaimah had been buying tickets for the draw …
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Fire strikes another tower in the Dubai Marina
DUBAI, United Arab Emirates — A fire has struck another high-rise tower in the Dubai Marina, just days after a blaze struck one of the world’s tallest residential towers in the same neighbourhood. Witnesses said firefighters had already begun spraying …
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Now Money: a start-up servicing the financial needs of the UAE’s low-income migrant population
The payment services provider first launched in 2015 and is just about to close its second round of external funding. Ian Dillion says the start-up is focusing on getting the first 4,000 accounts right before getting the numbers up. Antonie Robertson/The …
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UAE- Banks versus e-money issuers: Digitalisation and competition
… Bank (BBVA), Fidor Bank and Imagine Bank (Caixa Bank) are being created with promising expectations. There are also interesting initiatives of multitenant mobile money solutions. Currently in the UAE, the #UAE Banks Federation is developing a …
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Goldman Sachs buys into Aramco $10 billion loan as it seeks IPO role
DUBAI (Reuters) – Goldman Sachs (GS.N) has bought a slice of Saudi Aramco’s IPO-ARMO.SE $10 billion credit facility as it seeks a role in the historic listing of the oil company, sources familiar with the matter told Reuters.
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UAE Press: Keep oceans clean to avoid trouble
ABU DHABI, 5th August, 2017 (WAM) — Humans bank on oceans for very many things, it is impossible to imagine the world without them. The future of the planet’s oceans is, however, challenged by serious threats such as climate change, pollution and …
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ED raids Gujarat firm that defaulted on UPA-era bank loans, Rajya Sabha election funding in focus
“Sandesara group siphoned off substantial amount of bank money through bogus exports and parked in offshore companies in Nigeria, US and Dubai. This is part of government’s crack down on wilful defaulter,” a source in the ED’s Gujarat unit told HT …
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How Dubai can establish sustainable tourism practices
Keeping this in mind, Dubai is moving to tackle the issue of food waste with the launch of the UAE Food Bank. The initiative, spearheaded by HH Sheikh Mohammed, was announced in January and aims to combat the Dhs3.5bn ($952.8m) worth of food discarded in …
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