ABU DHABI/DUBAI (Reuters) - Abu Dhabi National Oil Company (Adnoc ... First Abu Dhabi Bank, HSBC, Bank of America Merrill Lynch and Citigroup have been mandated for the IPO, sources familiar with the matter told Reuters. The sources declined to be named ... ( read original story ...)
Dubai financial authority fines, bans former Senior Executive Officer
The Dubai Financial Services Authority (DFSA) has fined Andrew Grimes, a former Senior Executive Officer (SEO) of a DFSA Authorised Firm $52,500 (Dh192,675) and imposed a restriction preventing him from performing any function in connection with the ... ( read original story ...)
Leading Dubai banks post strong set of first-half results
Dubai: Leading Dubai banks such as Emirates NBD (ENBD), Emirates Islamic (EI) and Dubai Islamic Bank (DIB) posted their first-half results on Wednesday, reporting strong operating performances supported by declines in costs, lower provisions and improved ... ( read original story ...)
Qatar’s $300 billion conundrum: how liquid are its reserves?
DUBAI/DOHA (Reuters) - When is $300 billion not enough? That question is key to Qatar's future as some bankers and hedge funds speculate the super-rich state's vast financial reserves may not be liquid enough to defend its currency in the long term. ( read original story ...)
UAE bank deposits decline by $7.25bn
Total bank deposits in UAE fell by 1.7 percent, or $7.25 billion (AED26.6bn), to $433bn (AED1.589 trillion) in June compared to May, the Central Bank said on Tuesday. Resident and non-residents deposits fell in June by AED24.2bn and AED2.4bn, respectively. ( read original story ...)
Dubai’s largest bank posts 6% rise in Q2 profit
Emirates NBD reported a 6 percent rise in its second quarter net profit on Wednesday. Dubai’s largest lender made a net profit of $550 million (AED2.2bn) in the three months to June 30, the bank announced this morning, up from the AED1.91bn it announced ... ( read original story ...)
Qatar: Alleged UAE hacking ‘unfortunate,’ violation of law
DUBAI, United Arab Emirates — Qatar, the tiny Gulf state being isolated by its neighbours, said Monday the reported involvement of the United Arab Emirates in hacking its government news site in May is “unfortunate” and a breach of agreements among ... ( read original story ...)
UAE bank launches app to enable fingerprint access to accounts
Abu Dhabi Islamic Bank (ADIB) has released a new version of its mobile banking app which enables customers to make cash withdrawals without the use of a card. Customers can also send money to a UAE mobile phone using the mobile to mobile payments ... ( read original story ...)
How the Gulf can lead in digital banking within the next two years
This can assist banks in enriching their offering for a specific target customer group, leverage alternative channels to offer core banking products and adopt innovative solutions to increase efficiency. The Middle East, and in particularly the UAE and ... ( read original story ...)
New scheme to boost UAE financial planning, cash forecasts
The UAE Ministry of Finance (MoF) and the Federal Authority for Government Human Resources have launched the first phase of the ‘e-link’ project between the financial planning system, the electronic federal budget, "Hyperion”, and the human resources ... ( read original story ...)