The Dubai real estate market has been on a bull run for several weeks now, with the October 24-28 week alone recording AED11.3 billion in transactions Dubai real estate market on a roll; hits over $1 …
Dubai’s Empower increases IPO size on strong investor demand
Dubai government–backed district cooling company Empower on Tuesday increased the size of its IPO by 50% and will now sell a 15%–instead of the 10% announced earlier–of existing share capital …
Shareholders in Dubai’s Empower increase IPO to 15% of company
Shareholders in Dubai’s Emirates Central Cooling Systems Corporation (Empower) have increased the size of the stake being offered in an initial public offering to 15% from 10%, citing strong demand …
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Dubai Said to Consider Raising Empower IPO Size on Robust Demand
Dubai may increase the size of Emirates Central Cooling Systems Corp.’s initial public offering after drawing strong demand, people with knowledge of the matter said.
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Abu Dhabi Islamic Bank enables cross-border instant INR currency transfers from the UAE using SWIFT gpi Instant
Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution, today announced the launch of a new service which allows customers to transfer f …
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National Bank of Fujairah secures sponsorship from Malabar Gold & Diamonds for its annual Fujairah Run
National Bank of Fujairah PJSC (NBF) has secured sponsorship from Malabar Gold & Diamonds for the bank’s annual Fujairah Run for the fourth time, significantly strengthening its offering and profile.
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UAE ministry teams up with Adio to boost incentives for industrial sector
The agreement aims to “identify investment opportunities in industry and advanced technology and exchange industrial data, in addition to providing qualitative incentives that contribute to Abu …
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Dubai Financial Market’s profits attributable to owners hike to $24mln in 9M-22
Dubai Financial Market Company (DFM) posted a 133% year-on-year (YoY) leap in net profit attributable to the equityholders to AED 88.98 million during the first nine months (9M) of 2022, versus AED 38 …
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Mideast Stocks: Saudi shares rise on upbeat economic data, Dubai stocks fall
The benchmark Saudi index inched up 0.3%, erasing previous session’s losses. The index was lifted by a 2.8% rise in Saudi National Bank’s shares …
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UAE: Ajman Bank’s profits exceed over $30mln in 9M-22
Dubai – Ajman Bank posted higher net profits at AED 112.61 million during the first nine months (9M) of 2022, compared to AED 90.13 million in 9M-21. The net operating income shrank to AED 442.65 …
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UAE’s finance ministry amends some provisions of VAT law
The UAE Ministry of Finance has announced amendments to some provisions of the Federal Decree-Law No. 8 of 2017 on Value Added Tax (VAT), which will be effective from January 1, 2023. The amendments …
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Indian expats in the UAE: Should I file ‘zero tax return’?
Dubai: Are you an Indian expatriate living in the UAE? If so, you may have wondered about whether or not you should be filing a ‘zero tax return’? Non-resident Indians (NRIs) are required to file …
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UAE: Employers must provide insurance coverage of up to Dh20,000
According to the Mohre website, the policy has been put in place to protect workers in the event of a company’s bankruptcy or failure to pay employees’ benefits …
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Swiss bank sets up Dubai wealth operation
Switzerland-headquartered Habib Bank AG Zurich (HBZ) is extending its global network presence with a branch in the Dubai International Financial Centre (DIFC). The office will expand its private …
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Majid Al Futtaim’s SHARE, partners with First Abu Dhabi Bank, to launch new credit card
The FAB SHARE Credit Card will allow SHARE members to earn up to 8.25% value back in SHARE points on their spend …
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Western Union partners with NymCard in the UAE
IBS Intelligence (IBSi) is the world’s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. We take pride …
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Dubai seeks to raise $362m from district cooling firm IPO
Empower will start taking investor orders for the IPO from Monday, with final pricing scheduled for November 9 …
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