DUBAI, June 1 (Reuters) – Saudi Arabian water and power utility … Depending on the success of the deals, Marafiq might then proceed with a public share sale, they said. The IPO, which could be in 2019, could raise around 1 billion riyals ($267 million …
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Dubai’s agenda to be capital of Islamic economy gains pace
… noted that Dubai and the UAE are instrumental in raising awareness about the culture of Islamic economy worldwide and boosting global interest in adopting its principles. “Today, non-Muslim countries view Islamic finance, halal lifestyle and Shariah …
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UAE banking sector crisis: 3,000 jobs cut
*UAE banks counting the cost of weakening economy and competitive market The banking sector in the country has been in a state of upheaval over the past 12 months after 3,000 jobs were slashed in the UAE’s two main cities, Abu Dhabi and Dubai.
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German Authorities Target British Investor for Tax Evasion
He currently lives in Dubai. Former senior people at the Hamburg-based bank … In September 2015, Mr. Shah’s now defunct London-based hedge fund, Solo Capital, transferred €222 million to an account at Varengold Bank in Hamburg. The acount belonged …
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Middle East Crude-Benchmarks weaken as July trade slows
Cash Dubai widened to 59 cents below swaps … kingdom’s policy of cooperation with major oil producers to rebalance markets and limit volatility. *Hedge fund managers had already closed out many of their bearish short positions in crude oil before …
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UAE forms Fatwa Council to advocate moderate Islam
… board members of the Higher Sharia Board for Banking and Finance to strengthen consistency of the Islamic finance industry across the UAE. The Board is responsible for setting rules, standards and general principles for banking and financial …
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India and the UAE: Ancient Alliance, New Opportunities
The UAE may hold the key to India’s establishment as a leading world power and major emerging economy. With historical ties that date back centuries and opportunities for growth in industries such as realty, finance and trade, all signs point to a …
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UAE Central Bank orders closure of money exchange
Abu Dhabi: The UAE Central Bank has ordered the closure of a small money exchange house after detecting irregularities, official sources told Gulf News on Tuesday. The exchange, which has six branches — three in Dubai, two in Abu Dhabi and one in Sharjah …
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Dubai index sees temporary bounce in weak market
The Dubai Financial Market General Index closed 0.74 per cent higher at 3,318.12. Union Properties closed 2.39 per cent higher at Dh0.900, while Emaar Properties closed 0.43 per cent higher at Dh7.18. “It appears to be a broad-based rally based largely …
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Dubai Financial Market : Ramadan lull weighs on region
Most Arabian Gulf stock markets were little changed yesterday as investor sentiment remains low in the midst of the economic slowdown hitting the region. The Ramadan lull also weighed on trading, which remained thin in most markets. “We need significant …
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Economists Puzzled By Unexpected Plunge In Saudi Foreign Reserves
In an attempt to boost its funds, the kingdom also allowed qualified institutional … all trade going via Oman instead of Dubai ports, more flights and opening of the first bank in the world from Oman, inside Iran, are just a few signals aside from …
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Noor Bank to apply Dubai font across internal platforms
Noor Bank today announced that it has become the first bank in the UAE to implement the Dubai font across internal platforms. Employees of the bank will apply the iconic font to all documents created in Microsoft Office programmes. The transition from …
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Aster DM Healthcare plans 2018 IPO as sentiment improves
Dubai: Aster DM Healthcare is planning an initial public offering next year as the Dubai-based medical provider seeks to take advantage of improved market sentiment for the Arabian Gulf. The company aims to sell 10 per cent of shares by October 2018 …
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Dubai’s Aster DM Healthcare Plans 2018 IPO as Sentiment Improves
Aster DM Healthcare is planning an initial public offering next year as the Dubai-based medical provider seeks to take advantage of improved market sentiment for the Persian Gulf. The company aims to sell 10 percent of shares by October 2018, with a …
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Dubai’s Marka appoints new CEO
Marka, which operates 47 hospitality, fashion and beauty and sports outlets across the region, raised $75m in an IPO on the Dubai Financial Market in 2014. However, the company is yet to turn profitable, and posted a net loss of Dhs150m in 2016 …
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MoF organises workshops on practical applications of the federal decree no. (9) of 2016 concerning bankruptcy
The Ministry of Finance (MoF), in collaboration with Dubai Courts, recently organised a workshop on the practical applications of the Federal Decree No. (9) of 2016 concerning bankruptcy. The workshop came as part of a series organised by the Ministry to …
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Financial sustainability imperative to supporting Awqafs
Ultimately, financial sustainability is imperative for Awqafs … Managing Awqaf sustainably In the UAE, a ‘General Waqf Authority’ for Islamic Affairs and Endowments, has been set up by government and regulators, to coordinate and streamline the …
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