DUBAI: Emaar Properties, Dubai’s master developer, is to sell 20 percent of the shares of its UAE real estate unit in an initial public offering (IPO) that could value it at around $6 billion. The IPO is the first significant listing on a UAE market …
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Emaar Development IPO to be similar in size to $1.58bn Emaar Malls flotation
Emaar, which is selling 20 per cent of its real estate business, will offer 800 million shares and will announce the offer price range at the opening of the initial public offering (IPO) next month, it said in its prospectus on Dubai Financial Market (DFM …
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UAE’s largest bank says nine-month net profit tops $2bn
The UAE’s largest bank, created from the merger of National Bank of Abu Dhabi and First Gulf Bank, has reported more than AED8 billion ($2.18 billion) in net profit for the first nine months of 2017 First Abu Dhabi Bank (FAB) secured AED8.09 billion in …
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Checkout.com Brings Apple Pay to its Customers in the UAE
https://checkout.com/blogs/ bringing-apple-pay-uae-touch-id-payments-apps-websites/ Here at Fintech Finance, we work with renowned executives in the industry to provide key decision-makers globally within leading financial services organizations with …
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Dubai Exports and DIEDC seek New Zealand’s partnership in building Halal hub
Dubai Exports, the export promotion agency of Dubai Economy … are purchasing Halal products and services due to its natural and wholesome nature. In the financial services sector we have seen that a large proportion of the customers of Islamic banks …
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Barriers still holding back growth of Islamic finance – Fitch
The ratings agency said greater harmonisation of sharia codification within and between jurisdictions is often cited as a limiting factor if Islamic finance is to gain wider acceptance among regional and international investors. Dubai, through its Islamic …
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Abu Dhabi’s Mubadala mulls Emirates Global Aluminium IPO in 2018
Reuters reported in March that EGA had chosen banks to advise on the listing, but this is the first time its owner has confirmed the planned IPO. “We hope to take this … Owned by Mubadala and Investment Corporation of Dubai (ICD), aluminium producer …
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UAE central bank says removes more excess liquidity
The central bank of the UAE removed liquidity for the third straight month as an increase in deposits amid signs of economic improvement bolsters the banking industry. It withdrew Dh12.3 billion in September, Dh3.1bn in August and Dh8.2bn in July, the …
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Hussain Al Qemzi leaves Noor Bank
Dubai: Noor Bank on Wednesday announced the departure of Hussain Al Qemzi from his position as Managing Director of Noor Bank, effective October 31, 2017. Hussain Al Qemzi was CEO of Noor Bank from its inception in 2008 until June 2017 when he became the …
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Dubai’s Dh100b fund out to make a point investing in green projects
For Lars Kroijer, a veteran hedge fund investor and CEO of AlliedCrowds, the launch of Dubai’s green fund is something of a watershed moment in sustainable investing. “It sends a hugely positive message to institutional investors that there’s nothing …
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UAE- Emaar Properties: Building an IPO boom
(MENAFN – Khaleej Times) Emaar Properties, the Dubai-based developer instrumental in setting off a free hold property boom, said on Sunday it would sell 20 per cent of its real-estate development business in an initial public offering. The move comes after …
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Emaar to offer 20% in development unit via IPO
Dubai: Emaar Properties said on Sunday it plans to offer 20 per cent of its development unit in an Initial Public Offering, an amount lower than estimated by many. Investors had been expecting the company to float up to 30 per cent of the company.
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UAE Central Bank warns against Bitcoin
The UAE Central Bank has warned against Bitcoin, terming it as unofficial and lacking sufficient supervision. The warning was made by it can be easily used in money laundering and in funding terror activities, Governor of the UAE Central Bank, on the …
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Dubai Islamic Bank’s GCEO Triumphs Again at LinkedIn MENA Talent Awards
Dr. Adnan Chilwan, GCEO of Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has been awarded with the accolade of the Most Social Executive in the UAE’s Private Sector at the LinkedIn MENA Talent Awards. The awards took place last Wednesday …
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Moderate increase in loan demand, says UAE central bank survey
Demand for business loans increased “moderately” in the most recent quarter, with a similar amount of demand expected for the current quarter, according to a UAE central bank survey. The Q3 Credit Sentiment Survey, a quarterly publication that …
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UAE Central Bank warns against using ‘digital currency’
Dubai: The UAE Central Bank warned on Monday about the use of “digital coin”, saying it did not issue a license to allow the currency in the local market. The statement comes after Bitcoin, one of the cryptocurrency, hit a record high of $6,148 on …
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NCB, Mobily hit Saudi, Emaar still weighs on Dubai
DUBAI, Oct 23 (Reuters) – National Commercial Bank (NCB) and telecom stocks dragged down Saudi Arabia’s main index on Monday while Emaar Properties weighed on Dubai’s stock market for the second day in a row. The Saudi index fell 1.3 percent to 6,886 …
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