Abu Dhabi-headquartered petrochemicals firm Borouge said on Monday it has set the offer price for its initial public offering (IPO), which shows it could raise about $2 billion in the deal, and …
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Abu Dhabi’s Multiply Group puts $50m into blockbuster Borouge IPO, opening May 23
Multiply was also one of the key investors in DEWA, with $100m The ADX in Abu Dhabi will soon welcome Borouge, the ADNOC joint venture. Image Credit: Supplied Dubai: Abu Dhabi’s Multiply Group will …
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UAE residents and businesses’ ‘Credit Score’ expanded to include salary, utility payments
Al Etihad Credit Bureau expands scope of ‘Credit Score’ coverage from 70% to 90% Dubai: More than 90 per cent of individuals and businesses in the UAE will be covered by ‘credit scores’ under a new …
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EDB in talks with Poland’s national development bank to boost collaboration
Emirates Development Bank (EDB) is exploring opportunities to collaborate with Bank Gospodarstwa Krajowego (BGK), the national development bank of Poland, to support economic development in their …
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Emirates Development Bank discusses collaboration with Poland’s national development bank, BGK
Emirates Development Bank (EDB) has held a meeting with the Bank Gospodarstwa Krajowego (BGK), the national development bank of Poland, as part of its m …
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Heavyweight Trio Lead on Latest Big Ticket Middle East IPO
Allen & Overy, Shearman & Sterling and Al Tamimi & Co are acting as legal advisers on the IPO of UAE-based petrochemicals major Borouge. The float will see the company sell a 10% stake for just under …
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Vancouver biotech Zymeworks rejects $10.50 per share hostile bid from Dubai hedge fund All Blue
Zymeworks Inc. has rejected an unsolicited takeover proposal from a Dubai hedge fund, saying it “significantly” undervalues the Vancouver biotechnology company and is not in the best interests of …
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Aggregate Q1 profit of UAE’s 10 largest banks climbs 24% amid economic recovery
The aggregate net income of the 10 largest lenders in the UAE grew more than 24 per cent in the first quarter of 2022, compared with the previous three months, according to professional services …
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Fitch affirms ‘BBB+’ rating for Bank of Sharjah with a stable outlook
For the second consecutive year, Fitch has assigned Bank of Sharjah a Long-Term Issuer Default Rating (IDR) of ‘BBB+’ with a stable outlook …
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Somalia: Govt Releases Nearly $10m Seized From UAE Plane Four Years Ago
The Somali government has released $9.6 million it seized from a United Arab Emirates plane in Mogadishu four years ago, a step aimed at mending relations that have been stuck at a low point ever …
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Dubai dissolves tribunal handling financial settlements related to Dubai World
Dubai said on Friday it is dissolving a special tribunal that was set up in 2009 to resolve disputes pertaining to financial settlements related to Dubai World and its subsidiaries. A decree on the …
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UAE: How British expats calculate taxes on income earned overseas and back home
Here are some tax guidelines to follow back home Are you a UK citizen new to the UAE? Here are some tax guidelines to follow back home Image Credit: Ahmed Ramzan/ Gulf News Dubai: The UAE has …
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ABZ Financial Broker Creates Bespoke Sales Solutions For Organizations In The UAE
ABZ Financial Broker LLC has been touted as the preferred provider of outsourced sales for high-ranking banks and financial institutions. The leading financial services provider c …
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Top UAE banks benefit from better margins, but asset quality may decline in H2
The UAE’s top banks benefitted from better margins in the first quarter of 2022, but there is a risk of deterioration of asset quality in the second half of the year as the government’s economic …
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Top UAE banks see better margins, but asset quality could deteriorate – A&M
Alvarez & Marsal says there is a risk that asset quality will deteriorate later this year when the government’s targeted economic support scheme (TESS) comes to an end …
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UAE top banks’ profits, margin levels ‘take a hit’ in Q1
The report suggests that the Q1’22 results for most of the banks in the UAE highlighted an increase in profitability, despite lower non-interest income …
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Alvarez & Marsal releases UAE Banking Pulse for Q1 2022
The International Monetary Fund (IMF) has revised the UAE’s gross domestic product (GDP) growth estimates for 2022 from 3.5 percent to 4.2 percent. We anticipate domestic lending to grow on the back …
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