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Tag: finance

Posted on 15/02/2022

World of Web3 Week (WOW) Set to Taking Place on March 12th-18th in Dubai

The speakers include Dr. Marwan Al Zarouni (CEO Blockchain Center UAE), Hoda A.Alkhzaimi (President at Emirates Digital Association for Women), Saeed Aldarmaki (Founder of Sheesha Finance and …
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Posted on 15/02/2022

UAE Digital Bank Zand Wins Franklin, Aditya Birla Backing

Zand, a digital bank helmed by Dubai businessman Mohamed Alabbar, has won the backing of investors such as Franklin Templeton and Aditya Birla Group as it seeks to seize on opportunities thrown up by …
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Posted on 15/02/2022

Empower posts 9.3% revenue growth, plans IPO by Q4

Ahmad bin Shafar, CEO of Empower, said the IPO listing on the Dubai Financial Market is part of Dubai’s efforts to strengthen its stock market and attract more listings amid a growing appetite for …
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Posted on 15/02/2022

ADNOC and Borealis consider IPO for plastics joint venture

DUBAI, Feb 15 (Reuters) – Abu Dhabi National Oil Company (ADNOC) and Austria’s Borealis AG are considering a potential initial public offering (IPO) of their joint venture plastics business Borouge.
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Posted on 15/02/2022

Another ADNOC joint venture – Borouge – could be heading for an IPO

Borealis and ADNOC are JV partners in Abu Dhabi headquartered Borouge Dubai: Another ADNOC subsidiary could soon be heading for an IPO. The Abu Dhabi energy giant along with Borealis is mulling …
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Posted on 15/02/2022

UAE’s digital bank Zand receives fresh funding

in the United Arab Emirates is “imminent,” according to the statement. It didn’t provide financial details of investments. Digital banks have taken off with the spread of finance technology in Middle …
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Posted on 15/02/2022

Turkey’s flag flies high as Erdogan’s Dubai trip marks reset

which positions itself as the UAE’s globally alluring tourism and finance hub. Erdogan was greeted by Dubai ruler and UAE Prime Minister Sheikh Mohammed bin Rashid Al Maktoum at the emirate’s …
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Posted on 15/02/2022

UAE’s small businesses can be given priority lending support

The UAE’s need to alleviate this problem is clearly … However, apart from recently reinvigorating the Emirates Development Bank and directing it to support SMEs, little else is evident on …
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Posted on 15/02/2022

UAE banks to benefit from planned interest rates increase by US Fed, S&P says

UAE banks are expected to benefit from the planned increase in interest rates by the US Federal Reserve due to higher profitability, according to a report from S&P Global Ratings. The Central Bank of …
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Posted on 15/02/2022

UAE sovereign wealth funds with combined assets of $1.4 trillion top GCC

Abu Dhabi Investment Authority ranked fourth globally witth $697.86 billion Abu Dhabi Investment Authority (ADIA) building. Adia is ranked fourth in the global ranking with an estimated assets of …
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Posted on 15/02/2022

New UAE digital bank Zand wins backing from Franklin Templeton, Aditya Birla

Zand is owned by Mohammed Alabbar and has LuLu Group founder as a key investor Dubai digital bank Zand already had a roster of high-profile investors, including Yussufali of LuLu Group.
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Posted on 15/02/2022

Dubai Islamic Bank lists $750 million Sukuk on Nasdaq Dubai

Image Credit: Supplied Dubai Islamic Bank on Tuesday listed a $750 million Sukuk on Nasdaq Dubai. The new five-year Sukuk issuance is part of the lender’s $7.5 billion Sukuk programme.
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Posted on 15/02/2022

DEWA’s Hassyan plant adds 1.2 GW gas-fired power to Dubai grid

Production capacity of the Hassyan power complex in Dubai has reached 1,200 MW … Vaar Energy to be priced at bottom of IPO range Feb 14 – Eni spin-off Vaar Energy will be listed at the Oslo stock …
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Posted on 15/02/2022

FibSwap Announces Partnership with Clover Finance

Dubai, United Arab Emirates–(Newsfile Corp. – February 15, 2022) – FibSwap joins forces with Clover Finance , exposing FibSwap’s decentralized exchange to more than 100,000 wallets. FibSwap DEx …
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Posted on 15/02/2022

UAE bank taps Israeli fintech firm ThetaRay for fraud detection tools

The United Arab Emirates’ oldest private banking institution, Mashreq Bank PSC, has tapped Israeli fintech company ThetaRay, a developer of software that mimics human intuitive decision-making to …
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Posted on 15/02/2022

Turkey, UAE sign 13 cooperation deals to boost long-strained ties

finance and trade. Last month the two countries agreed on a nearly $5 billion swap deal in local currencies. “During this visit, we aim to develop the momentum we have captured with the United Arab …
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Posted on 15/02/2022

UAE keen to strengthen partnership with Turkiye, says crown prince

The United Arab Emirates (UAE) is keen to strengthen its partnership with … Both countries also signed several agreements on energy, environment, finance, and trade. * Writing by Ibrahim Mukhtar in …
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