Dubai’s biggest bank will save about $400 million in a deal to buy Turkey’s Denizbank AS after the lira slumped and economic growth stalled since the deal was announced 10 months ago. The United Arab …
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There’s Only One Sure Winner in This IPO Flurry
Meanwhile, Dubai-based Network International, itself a dominant player in the Middle East, is seeking about 580 million pounds ($757 million) in a London IPO that will allow its original founder, …
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Dubai, China lead market rally
and other key markets across Asia and Europe gained on Monday on the back of the UAE’s Network International IPO on London, Aramco’s strong profitability, soft Brexit expectations and stronger China …
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Ducab appoints new Chief Financial Officer
Dubai: Ducab, one of the UAE’s largest manufacturing businesses, has appointed Mr. Meshal Al-Naqbi to the position of Chief Financial Officer, taking responsibility for the management of the company’s …
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RFI, DIB to host Islamic finance forum at RFI Summit
The Responsible Finance & Investment Foundation (RFI) has partnered with Dubai Islamic Bank and UNHCR to organise a roundtable on April 28 about strategic philanthropy and Islamic finance as a part of …
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Kuwait inks financial aid agreement for Bahrain
DUBAI – Kuwait signed an agreement to support Bahrain’s economy as part of a series of fiscal reforms Bahrain has embarked on last year, Kuwait’s finance ministry said on Tuesday, formalising a …
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DIFC wins Dubai Quality Award for business excellence
Dubai International Financial Centre (DIFC), the leading international financial hub in the Middle East, Africa and South Asia (MEASA) region, has received the Dubai Quality Award during the 25th …
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UAE’s ADFG to take over Shuaa Capital in reverse merger by mid-April
Last month, Dubai-listed Shuaa disclosed it had started talks on a possible merger with ADFG. With the potential merger, ADFG aims to become a regional financial powerhouse with interests in real …
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Kuwait signs financial aid agreement for Bahrain
Kuwait, along with Saudi Arabia and the United Arab Emirates, pledged $10bn in financial aid to Bahrain last year to rescue the country from a potential debt crisis. The ministers of finance of …
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Revealed: how Dubai’s Mashreq is adapting to a new era in banking
Dubai banking major Mashreq on Tuesday unveiled a reimagined branch format as part of its digital transformation strategy. In response to the evolving customer needs, Mashreq Bank said it will now …
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Mashreq unveils digitally enhanced branch in Dubai
Mashreq Bank, one of the leading financial institutions in the UAE, has unveiled a reimagined branch format which blends digital innovation with the services of a traditional branch to allow customers …
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UAE remittance group calls for safer landscape to fight financial fraud
Osama Al Rahma said on Sunday at the annual Anti-Money Laundering (AML) & Operations Heads conference in Dubai that the group aims to establish committees and regular meetings to enhance commitment …
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Emirates NBD wins top award for retail banking
the bank was adjudged the Asian Trailblazer of the Year – Institutional as well as Best Retail Bank – UAE. Emirates NBD was also highly commended in the Best Credit Scoring Innovation category for its …
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UAE bank assets fall 1% in February
Abu Dhabi – Mubasher: The Central Bank of the United Arab Emirates reported a 1% decline in the Emirati banking sector’s total assets by the end of February. Total assets recorded AED 2.909 trillion …
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UAE remittance group vows to fight financial fraud
The UAE’s Foreign Exchange and Remittance Group (Ferg) on Sunday stressed its commitment to purge the emirates from financial fraud through strict compliance with anti-money laundering regulation. At …
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UAE economy rebounds in 2018, but more slowly than expected
DUBAI (Reuters) – The United Arab Emirates’ economy grew by around 1.7 percent in 2018, slower than projected despite a boost from higher oil prices, official preliminary data showed. The UAE …
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FERG Pledges to Purge UAE from Financial Fraud
The financial industry body stresses swift detection and a modern mechanism to combat crime Dubai The UAE’s Foreign Exchange and Remittance Group (FERG) held the third edition of its annual Anti-money …
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