Dubai developer DAMAC Properties on Thursday warned it saw a difficult market for up to the next two years due to the COVID-19 pandemic, as it reported a second-quarter loss of 280 million dirhams …
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Dubai’s Shuaa Pauses Some Deals as Virus Causes Strategic Shift
Shuaa Capital PSC stepped away from some deals as the Dubai-based investment company switched its short-term strategy in the wake of the economic fallout from the coronavirus pandemic.
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Dubai Property Market Heads for Two Difficult Years, Damac Says
Damac Properties PJSC expects a “difficult” period of as many as two years for Dubai’s property market as the impact of the coronavirus drags real-estate prices down.
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Dubai’s Emirates NBD in early talks for possible acquisition of Blom Bank Egypt
Discussions are ongoing and there is no certainty that any transaction will be completed, Emirates NBD said in a bourse filing.
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Emirates NBD confirms talks on with Lebanon’s BLOM Bank on Egypt stake
Emirates NBD is in preliminary discussions with Lebanon’s BLOM Bank to pick up the latter’s stake at its Egypt operations. “Discussions are still ongoing and there is no certainty that any transaction …
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Dubai’s DIFC grants banking licence to Samba Financial Group
Samba Financial Group will become the first Saudi Arabian bank to establish in DIFC. The group will use DIFC to build an international presence by enhancing client coverage across the region. The …
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Sir Anthony Ritossa Set to Host World’s Largest & Most Influential Gathering of Family Wealth October 26-28, 2020 in Dubai
Sir Anthony Ritossa is gearing up to host the 12th Global Family Office Investment Summit under the High Patronage of His Highness Sheikh Ahmed Al Maktoum October 26-28, 2020 at the Four Seasons …
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UAE- All technical glitches faced by customers resolved: Emirates NBD
Emirates NBD, Dubai’s largest bank, on Wednesday said that it had resolved all the technical issues that customers had been facing while the bank upgraded its systems.
As previously communicated, …
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Dubai to host virtual Healthcare Future Summit
Regulation, DHCR, & Head of the Scientific Committee of Healthcare Future Summit, said: “We are bringing healthcare commu …
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NMC Health $275mln rescue financing faces creditor opposition – sources
NMC Health has secured loan commitments worth $275 million in a deal which would allow the lenders to improve their prospects of recovering money already owed by the United Arab Emirates troubled …
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Emirates NBD restores digital banking services
Bank customers faced disruptions in some e-services earlier this week Dubai: Emirates NBD said on Wednesday that it has restored its digital banking services following some disruptions earlier this …
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Emirates NBD restores digital banking services after three-day disruption
Account holders were unable to access the bank’s website and mobile app to make payments and remittances Emirates NBD said it has restored digital banking services after a system upgrade at the …
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UAE banks headed for more job losses in second half of 2020
Shrinking interest margins and non-interest incomes force banks to cut costs further Dubai: UAE banks, especially those with large retail operations are headed for more redundancies as businesses is …
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Lebanon’s Blom Bank considers selling Egypt subsidiary
Blom Bank is attempting to strengthen its finances as Lebanon endures financial crisis Cairo/Dubai: Lebanon’s Blom Bank said on Tuesday it was looking to sell its subsidiary Blom Bank Egypt …
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Azizi Developments says no IPO planned before 2023
Azizi Developments CEO Farhad Azizi said it will raise $300m from sukuk in Q1 2021 Dubai-based real estate developer Azizi Developments said it has no plans to take the company public for at least …
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Nathan’s Famous Partners With UAE Based Mezzan Group to Manufacture Halal Hot Dogs
Nathan’s Famous, Inc., the American tradition serving New York favorites for more than 100 years, announces today it has signed a licensing, manufacturing and distribution agreement with Mezzan …
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Alibaba, UAE-Backed Tesla Competitor Set To IPO In The U.S.
Chinese electric car start-up Xpeng Motors has filed for an IPO on the New York Stock Exchange. That comes after raising $400 million from Chinese media giant Alibaba, the Qatar Investment Authority, …
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