Dubai: The recent sanctions on Qatar by a group of states led … “Weaker economic activity could lead to deteriorating asset quality in the banking system and together with an escalation involving sanctions against the financial sector could necessitate …
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Short on down payment to finance your property in Dubai?
Since the implementation of the UAE Central Bank’s mortgage cap in 2013, buying a property has become harder. The mortgage cap required buyers to put down larger deposits against new purchases. This has had a big impact on first time buyers but as expected …
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GEMS Education reportedly weighing up IPO valued at $4bn
The Dubai-based international schools giant GEMS Education could be gearing up for an initial public offering valued at as much as $4bn and as early as next year, it has been reported. GEMS Education could launch an IPO as soon as next year, sources have said.
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Dubai’s Emirates working to get out from under US laptop ban
DUBAI, United Arab Emirates — The Middle East’s biggest airline says it is working to implement increased security measures in response to U.S. demands to reverse a ban on laptops and other electronics onboard its U.S.-bound flights. Dubai-based …
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UAE’s DIFC to set up global knowledge hub as financial data values soar
DUBAI: The Dubai International Financial Centre (DIFC) in the UAE is planning to set up a research and information hub to capitalize on the soaring value of financial data in international investment markets. The DIFC’s aim is to “build a regional …
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UAE ambassador funded journalist to sue Al Jazeera: NYT
In February 2015, Fahmy began corresponding with Otaiba who offered to arrange coverage on the UAE-based TV channel SkyNews Arabia, according to the New York Times. “SkyNews to take it live would be awesome, I think a nudge to their C.E.O. could make it …
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Bank clerk jailed for embezzling client’s Dh6.5m
Dubai: A bank clerk has lost his appeal and will be jailed for five years for conspiring with a fugitive against a businessman and embezzling Dh6.5 million from the latter’s account. The 22-year-old Pakistani clerk, who worked at the bank and his …
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UAE energy chief downplays gas shortfall from Qatar crisis
PARIS — The United Arab Emirates’ energy minister says his country has sufficient resources to ward off any energy shortfall stemming from Gulf countries’ standoff with key gas supplier Qatar. Suhail Al Mazrouel told The Associated Press in Paris on …
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How Islamic banking will boost the UAE’s halal sector
Islamic banks’ gross credit increased 8.4 per cent to AED343 billion in the first quarter of 2017, including AED325bn domestic credit that grew 7.4 per cent that will help the UAE’s halal economy to grow faster than non-halal sectors. The UAE’s …
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UAE Islamic banking assets ‘will boost halal sector’
The UAE’s Dh522 billion ($142 billion) Islamic banking assets will help fuel the growth of the country’s Halal sector, according to research conducted by Orange Fairs and Events, organisers of the Halal Expo Dubai 2017. Seven Islamic banks out of the …
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Gulf IPO listings surge to five-year high in Q1
The third and final listing was by ENBD REIT fund on Nasdaq Dubai offering 94.6 million shares and raising proceeds of $ 105 million. The fund invests in a diversified portfolio of Shari’a-compliant real estate assets in the UAE. The IPO is the first to …
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‘Pakistan banks sent funds to UAE to finance 9/11, 26/11 terror attacks’
Saudi Arabia and the United Arab Emirates (UAE`s) recent decision to suspend ties with Qatar over its perceived support for terrorist elements and for not cutting off ties with Iran appears to have taken a fresh twist. London: Saudi Arabia and the United …
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This Fund Manager Trains Algos to Copy His Brain
who previously traded for billionaire Steven Cohen and hedge fund York Capital Management, says the algorithms will be ready to help run money for clients of his own investment firm, Q2Q Capital. Yesilhark, who will run the fund from Dubai and London …
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2017 Sees a Record High Number of IPOs in GCC
The third and final listing was by ENBD REIT fund on Nasdaq Dubai offering 94.6 million shares and raising proceeds of US$ 105 million. The fund invests in a diversified portfolio of Shari’a-compliant real estate assets in the UAE. The IPO is the first …
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Asia-Pacific Crude-ESPO crude in focus as teapot demand re-emerges
BRENT-DUBAI EFS *Brent’s premium to Dubai swaps was at $0.74 per … of offshore drilling by half or more – just as shale oil producers have done onshore. *Hedge funds and other money managers appear to have abandoned all hope that OPEC will rebalance …
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Ex-Dubai Bank boss now faces fresh suit
Two companies and a businessman opened bank accounts at Dubai Bank then relinquished their control to the collapsed lender’s chairman Hassan Zubeidi — a move that cost the bank’s savers Sh400 million. Court documents show that Kamp General, Kemu Salt …
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VAT in the UAE and the challenge with financial…
Countries that levy this tax have struggled with this issue, and approaches taken to reconcile theory and practicality are rather diverse Value added tax is definitely coming to the UAE and an important question is how financial services will be treated.
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