Saudi Aramco’s initial public offering (IPO) could encourage other Gulf countries to list their oil assets, a leading regional economist said, but the oil giant must clear uncertainties over taxation, OPEC policy and ownership of crude. Nasser Saidi, a …
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Evercore Plans Dubai Office, Hiring Amid Aramco IPO Talks
Evercore Partners Inc., the investment bank founded by Roger Altman, is planning to open an office in Dubai as it seeks new business in the region, including a role on Saudi Arabian Oil Co.’s initial public offering, according to people familiar with the …
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UAE MoF adopts electric-powered vehicles
The MoU comes as part of MoF’s commitment to support sustainable energy resources in line with UAE vision 2021, by using sustainable transport services offered by Emirates Transport–which contribute to clean energy and provide a healthy and safe …
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ADGM head says fintech investment is essential for UAE financial market development
Fintech is an essential ingredient to drive the UAE’s financial sector forward, according to HE Ahmed Al Sayegh, Chairman of ADGM speaking during his keynote address at the Middle East Investment Conference. In March 2016, ADGM was the first jurisdiction …
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Aramco IPO could push other Gulf states to list oil assets: economist
KHOBAR, Saudi Arabia Saudi Aramco’s initial public offering (IPO) could encourage other Gulf countries to … Nasser Saidi, a former economy minister of Lebanon, told Dubai Eye Radio in an interview broadcast on Wednesday that Aramco has to address how …
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BUZZ-Fannie and Freddie Mac plunge; court shuts down hedge fund effort
Shares of Fannie Mae and Freddie Mac slump 32 pct and 34 pct respectively, on Tuesday, after a U.S. appeals court upheld dismissal of hedge funds’ claims against the … CID’s Inspector Purvi is holidaying in Dubai, see pics Sports Calendar 2016 – Times …
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Six banks pitch for Aramco IPO role on Saudi bourse – sources
DUBAI/RIYADH (Reuters) – Saudi oil giant Aramco [IPO-ARMO.SE] has received proposals from at least six banks for an advisory role on the firm’s planned initial public share offering, sources familiar with the process said on Tuesday. Saudi authorities are …
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Dubai’s International Finance Centre grew by 14 per cent last year
Bosses at the state-owned financial free zone, known as the DIFC, say there has been a 10 per cent increase in financial firms registered in the DIFC, and a 17 per cent rise in non-financial companies. Profits at Dubai’s financial district grew by seven …
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This Oil Nation Aims To Colonize Mars
The Emiratis, despite the oil price crash, still have a respectable stash in their sovereign wealth fund, the Investment Corporation of Dubai. The fund was worth US$175 billion three years ago, when it launched its international expansion strategy …
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Kuwait replaces wealth fund head after 14 years, Al Rai reports
Dubai: Kuwait Investment Authority (KIA … In that role, he was responsible for private equity, hedge funds, real estate and the KIA’s representative office in China, according to the fund’s website.
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Dubai's financial centre could top 2024 targets -exec
DUBAI Feb 20 Dubai International Financial Centre could beat its target of more than doubling the number of financial firms registered within it by 2024 if interest continues from markets such as China, India and the Middle East, the governor of the …
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Brexit jitters already steering more UK investors to Dubai
According to UAE listings portal, propertytrader.ae, the prolonged and uncertain nature of the so-called Brexit is finally pushing UK buyers to find somewhere stable to invest, away from home and Europe, and Dubai seems to be the obvious choice.
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UAE Central Bank announces banking developments
he UAE Central Bank has announced that the money supply aggregate, M1 (currency in circulation outside banks and monetary deposits in current accounts and call accounts at banks), increased by 1.3 percent, from AED474 billion at the end of December 2016 …
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Australia and UAE to deepen defence ties
Australia and the United Arab Emirates (UAE) will explore closer defence ties after a meeting between Defence Industry Minister Christopher Pyne and Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed al-Nahyan. Mr Pyne and Sheikh Mohammed, who is also Deputy …
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Trump sons open Dubai golf course, praise U.S. ally
DUBAI (Reuters) – U.S. President Donald Trump’s eldest sons Donald Trump Jr. and Eric Trump were guests of honor at the opening of a Trump-branded golf course in Dubai on Saturday, the first Trump property project launched since their father’s inauguration …
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Bank of Singapore to use Dubai as base to attract Middle East, Africa wealth
DUBAI The private banking arm of Singapore’s second-biggest lender OCBC (OCBC.SI) is targeting annual growth of assets of more than 20 percent from its new office in Dubai, which it aims to use to attract wealthy clients from the Middle East and Africa …
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KFH participates in 2017 IIF MENA Financial Summit held in Dubai
KUWAIT: Group Chief Executive Officer at Kuwait Finance House (KFH), Mazin Saad Al- Nahedh stressed the importance of practically facing the economic challenges facing the GCC banks in light of the fall in oil prices, indicating the necessity of applying …
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