Prior to that Abu Dhabi’s International Holding Company bought a 15% stake in the company. VPS Healthcare Holdings, founded and chaired by Shamsheer Vayalil Parambath, continues to own 70% of Burjeel …
UAE’s e& to raise dividend by 3 fils a share from 2024; will pay out 80 fils in 2023
UAE tech-telco chrusn up Dh10.3 billion as 2023 net profit … This comes off the back of a sizeable set of financials e& generated for the year. “The strong financial performance, with consolidated …
UAE: Top bank discontinues ‘Salary in Advance’ facility
Dubai Islamic Bank, the UAE’s largest Shariah-compliant lender, has discontinued its popular ‘salary in advance’ facility for …
UAE: Short of cash? These banks offer ‘rent in advance’ to tenants
For UAE residents, rents are one of the biggest costs that they bear every month. For some of the residents, it accounts for the highest expense of their m..
Segantii Hedge Fund Assets Shrank by $1 Billion Since March
Simon Sadler’s Segantii Capital Management Ltd. saw its hedge fund assets shrink by 18% since last March amid investment losses and redemptions, said people familiar with the matter.Assets of the …
UAE, Qatar banks lead GCC ‘reputational net sentiment’
Banks in the UAE and Qata lead regional “reputational net sentiment,” according to the first-ever GCC banking sentiment index that has been designed to quantify the experiences and sentiments of …
ADC Acquisition Corporation to open IPO subscription on 12 May
ABU DHABI, 10th May, 2022 (WAM) — ADC Acquisition Corporation PJSC (ADC), the UAE’s first Special Purpose Acquisition Company (SPAC), today announced its Initial Public Offering (IPO) subscription …
🔒 UAE nears exit from FATF ‘grey list’ following robust crackdown on illicit finance
The UAE is on track to exit the Financial Action Task Force’s “gray list” this week after a crackdown on illicit financial activities.
Dubai developer Binghatti set to launch benchmark sukuk offering
Binghatti Holding, a Dubai-based property developer, is looking to raise $500 million from the sale of Sharia-compliant bonds as it aims to diversify is funding base.The company is preparing for the …
Dubai real estate: The true cost of buying property beyond the listing price
Buying property in Dubai is widely seen as a great investment, but prospective buyers must consider more than just the advertised listing price. Additional fees, charges, insurance costs, and …
UAE ranks world’s 4th largest Islamic finance market: CBUAE
The Central Bank of the UAE (CBUAE) has revealed that the main Islamic financial markets are located in the Gulf Cooperation Council (GCC), Southeast Asia, and South Asia. The UAE ranks fourth among …
UAE poised to exit watchdog’s dirty money list after reforms
As part of their efforts to exit the gray list, UAE officials have made some high-profile arrests. Hedge fund trader Sanjay Shah, accused of defrauding the Danish state of $1.3 billion in the Cum-Ex …
UAE property developer Binghatti Holding announces upcoming Sharia-compliant USD sukuk launch
UAE real estate developer Binghatti Holding is poised to launch its debut US dollar sukuk, or Islamic bond, in the coming days. The Sharia-compliant bond issuance aims to diversify the company’s …
First-ever GCC banking sentiment index reveals UAE and Qatar banks lead regional Reputational Net Sentiment
The UAE garnered praise that accounted for 21.1% of its conversation Saudi Arabian consumers were the most engaged online, as Saudi banks dominated the GCC’s banking conversation. Qatar topped the …
NE Ohio brothers, one claiming to be a prince, charged with multi-million dollar scams: Prosecutors
East Cleveland brothers, one claiming to be a prince, face federal fraud and money laundering charges that prosecutors say bilked several people out of up to $10 million.
UAE: How pocket money can teach your children financial literacy
Parents in the Emirates advocate transparent, enjoyable, and interactive approaches to educating kids about money management …
The UAE’s policy overhaul is paying off big time for Dubai with ‘a surge in demand and almost everyone is back in the office’
At the height of the global pandemic, as Dubai faced an exodus of expatriates and mounting competition from neighboring business hubs, the government opened up. That decision is now helping the city …