Dubai: A salesman has been jailed for six months for defrauding a bank of Dh180,000 in personal loan and credit card using forged papers within two months. The 39-year-old Pakistani salesman approached the local bank’s Sudanese sales representative and …
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A family office spin-off runs a hedge fund that invests like institutions
Dover then moved to Dubai with his wife, and there, received interest from GCC-based families as well. So in late 2015, he spun out of the family office to focus on managed accounts for these families, and launched the Heirloom Investment Fund in June 2016.
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Is This Oil Price Rally Sustainable?
citing tougher disclosure rules in the U.S. The final decision for the estimated $100 billion IPO is not expected until later this year. UAE: We will increase compliance. The UAE said that it would cut production deeper in the near future in order to boost …
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UAE asks banks to freeze accounts of those named on Qatar-linked blacklist
Doha denies the claims. In a circular, the UAE watchdog asked banks and financial institutions to “start immediate search for and freezing of all bank accounts, investments, and deposits that may be held by any individual or entity” included on the …
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Thousands of North Korean labourers in US-allied Gulf nations
DUBAI, United Arab Emirates — As pressure on North Korea grows over its nuclear weapons program, America’s most valued Arab allies host thousands of its labourers whose wages help Pyongyang evade sanctions and build the missiles now threatening the U.S …
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Bank of Sharjah reports Dh152m first half net profit
Dubai: Bank of Sharjah has reported a net profit of Dh152 million for the first half of 2017, down 13.6 per cent compared to Dh176 million for the same period of 2016. “Net profit was affected mainly by a marginal increase in cost of funds, and equity …
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Exclusive: Saudi Aramco advisers favor London for historic IPO – sources
DUBAI/LONDON (Reuters) – Saudi Aramco’s advisers have recommended … A final decision on the venue for what is expected to be the world’s biggest IPO and is targeted to raise $100 billion will be taken by Crown Prince Mohammad bin Salman, who is …
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Dubai’s Mashreq bank sees drop in demand for Qatar business -CEO
DUBAI, July 27 (Reuters) – Mashreq, Dubai’s third-largest bank by assets, has seen a drop off in demand for business in Qatar since a dispute erupted between the Gulf state and its neighbours, Chief Executive Abdulaziz al-Ghurair said. Banks in the United …
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Imran urges UAE central bank to disclose non-residents’ accounts details
Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan on Thursday urged United Arab Emirates (UAE) Central Bank to disclose details of non-resident account holders under the international agreements. Panama Papers probe, in its final report, revealed Prime …
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UAE issues circular on freezing bank accounts of terrorists, terror organisations
Banks and other financial institutions operating in the United Arab Emirates have been instructed to search for and freeze any accounts or deposits or investments held by individuals or entities designated as terrorists or terrorist organisations by the …
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Imran Khan urges UAE central bank to disclose non-residents’ accounts details
ISLAMABAD: Declaring Iqama [work permit] a kind of protection and safe passage under international agreements, Pakistan Tehreek-e-Insaf (PTI) chairman urged United Arab Emirates (UAE) Central Bank to disclose all details of ‘non-residents’ account …
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Pipeline of IPOs from UAE in full flow as Aramco sale looms
Dubai: Saudi Arabian Oil Co. isn’t the only one keeping IPO markets busy in the Middle East. A slew of companies from the United Arab Emirates, both sovereign-owned and privately held, are lining up initial public offerings in a bid to capitalise on …
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Dubai mortgage firm Amlak developing villa project in Mirdiff
Dubai-based mortgage firm Amlak Finance has completed the first phase of its new residential development project in Mirdiff, it announced on Monday. The Dhs135m villa project marks the first time Amlak is developing a fully-owned property. The project …
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UAE asks banks to freeze accounts of those named on Qatar-linked blacklist: WAM
DUBAI (Reuters) – The United Arab Emirates’ central bank has asked all banks and financial institutions to stop dealing with 18 more individuals and entities with alleged links to Qatar, the state news agency WAM reported on Thursday. The move makes it the …
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Pipeline of IPOs From U.A.E. in Full Flow as Aramco Sale Looms
Emirates Global Aluminium The largest aluminum producer in the Middle East is considering an IPO in Dubai and Abu Dhabi, potentially making it one of the first companies to be represented on both exchanges, according to people familiar with the plan.
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Pipeline of IPOs From U.A.E. in Full Flow Ahead of Aramco Sale
Saudi Arabian Oil Co. isn’t the only one keeping IPO markets busy in the Middle East. A slew of companies from the United Arab Emirates, both sovereign-owned and privately held, is lining up initial public offerings in a bid to capitalize on money …
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Abu Dhabi Ports ‘mulling IPO’ amid UAE listing boom
ABU DHABI (BLOOMBERG) – Abu Dhabi Ports is considering an initial public offering (IPO), joining a growing list of state entities in the United Arab Emirates seeking to sell shares, according to people familiar with the matter. The government-run ports …
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