An investigation into the defrauding of $35 million USD from a bank in the United Arab Emirates in January of 2020 has found that deepfake voice technology was used to imitate a company director known …
( read original story …)
Bank Robbers in the Middle East Reportedly ‘Cloned’ Someone’s Voice to Assist with $35 Million Heist
Deepfake technology was used to simulate the voice of a bank manager’s business associate, which led to illegitimate financial transfers.
( read original story …)
As UAE economic recovery speeds up, how will my money stack up?
The UAE economy is rebounding fast from the downturn caused by COVID-19, multiple reports from key regulators showed these recent weeks. But how fast are these sectors bouncing back. Also, how does …
( read original story …)
M. Stanley banker who advised on Aramco IPO to join Saudi Fransi Capital-source
One of Morgan Stanley’s top dealmakers, who helped advise oil giant Saudi Aramco on its initial public offering (IPO), is leaving to join the investment banking arm of Banque Saudi Fransi. Motaz …
( read original story …)
AS&H, Clifford Chance play key role in $1.2bn Acwa Power IPO
Abuhimed Alsheikh Alhagbani Law Firm (AS&H) in co-operation with Clifford Chance has acted as issuer’s counsel to Acwa Power, a Saudi-based utility project developer, on its $1.2 billion landmark IPO …
( read original story …)
Finance Minister receives UAE Ambassador
Khartoum, Oct. 12 (SUNA)-Minister of Finance and Economic Planning Dr. Jibril Ibrahim has commended the strong relations linking Sudan and the United Arab Emirates (UAE) in all fields. This came when …
( read original story …)
Why the UAE’s finance, insurance advisors should be prepared for change
As the sector develops, and more financial advisory firms set up shop in the Dubai International Financial Centre (DIFC), there is a need for clarification on the rules, according to a leading industr …
( read original story …)
AS&H, Clifford Chance act as counsel to Acwa Power IPO
Abuhimed Alsheikh Alhagbani Law Firm (AS&H) in co-operation with Clifford Chance has acted as issuer’s counsel to Acwa Power on its $1.2 billion landmark IPO and $10.9 billion listing on the Saudi …
( read original story …)
MOVES-M. Stanley banker who advised on Aramco IPO to join Saudi Fransi Capital-source
One of Morgan Stanley’s top dealmakers, who helped advise oil giant Saudi Aramco on its initial public offering (IPO), is leaving to join the investment banking arm of Banque Saudi Fransi. Motaz …
( read original story …)
Dubai: Bangladeshi worker with zero bank balance wins Dh1 million overnight in Mahzooz draw
It was a classic rags-to-riches story that unfolded on Saturday night at the live Mahzooz draw, when a crane operator in Dubai won a whopping Dh1 million by sheer stroke of luck. The 32-year-old …
( read original story …)
First Bangladeshi expat in Dubai wins Dh1 million Mahzooz draw
Khader, a crane operator in Dubai, matched five out of six winning numbers (2-17-40-41-42-45) and won a whopping Dh1 million to become Mahzooz’s first Bangladeshi millionaire and the 16th overall this …
( read original story …)
Crane operator from Dubai wins Dh1 million Mahzooz draw
Khader, a crane operator in Dubai, matched five out of six winning numbers (2-17-40-41-42-45) and won a whopping Dh1 million to become Mahzooz’s first Bangladeshi millionaire and the 16th overall this …
( read original story …)
How the UAE is becoming a sustainable finance centre
DIFC The Dubai Financial Services Authority is actively working to introduce a supervisory approach and regulatory framework for the development of sustainable finance within t …
( read original story …)
UAE Cabinet agrees $79bn budget for 2022-2026
The UAE Cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has approved the federal budget for 2022-2026 with a total expenditure of AED290 …
( read original story …)
Number of African companies registered with Dubai Chamber up 15.5% to 24,800
“We believe that Dubai holds the key to unlocking Africa’s economic potential, as one of the world’s fastest growing city economies that can offer valuable expertise in key sectors such as logistics, …
( read original story …)
Fertiglobe price range implies value of up to US$6bil
DUBAI: Fertiglobe, a joint venture between Abu Dhabi National Oil Co and chemical producer OCI, yesterday set the price range for its initial public offering (IPO), implying an equity valuation for …
( read original story …)
UAE closes multi-tranche sovereign bond package
The UAE Government, represented by the Ministry of Finance (MoF), has successfully closed its offering of a US dollar-denominated multi-tranche sovereign bond package, which comprised medium and …
( read original story …)