Abu Dhabi National Oil Company (ADNOC) and chemical producer OCI N.V. (OCI) are likely to pick First Abu Dhabi Bank, HSBC and Citigroup to work on the public-share sale of their fertiliser joint …
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XTB Aims to Start UAE Operation by the First Half of 2021
XTB is gearing up to expand its international operations and is aiming to enter the United Arab Emirates as soon as the first half of this year.
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Global Leaders in Investment Management Attend Hedge Fund Summit in DIFC
Sohail Jaffer, Deputy CEO of FWU Dubai Services and Middle East regional representative of AIMA, said, “Increased interest in hedge funds and alternatives comes at a time when institutional investors …
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UAE banks well-positioned despite rise in NPLs
The UAE banks are well-positioned even bad loans rise further, thanks to strong capital buffers and high level of profitability that local lenders enjoyed prior to the outbreak of Covid-19 pandemic, …
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UAE bank ADCB reports soaring profit as it recovers from NMC impairments
UAE’s third-biggest lender, reported a more than 400% surge in first-quarter profit on Sunday, after it took big impairments a year earlier due to its large exposure to troubled hospital operator NMC …
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Azmin leading trade, investment mission to Saudi Arabia, UAE
Senior minister for economy Mohamed Azmin Ali will meet senior ministers in both countries to boost investments. KUALA LUMPUR: Senior minister and international trade and industry minister Mohamed …
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Help! My Dubai rent cheque is due, but I don’t have the money
Question: I am a resident of Dubai. I have been living in a two-bedroom apartment for the last four years. The contract was renewed six months back with six cheques for the year. I have another two …
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Azmin to lead trade and investment mission to Saudi Arabia, UAE
Senior Minister cum International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali will lead a trade and investment mission to Saudi Arabia and the United Arab Emirates (UAE) from tomorrow …
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UAE: Dh38m raised for 100 million meals drive in art auction
The International Charity Art Auction supporting ‘100 Million Meals’ campaign raised more than Dh37.54 million ($10.28 million) on Saturday during a live in-person auction in Dubai. On display were a …
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UAE Central Bank Extends Economic-Support Program Until Mid-2022
The United Arab Emirates extends its economic support program launched in response to the coronavirus pandemic until the middle of next year, the Gulf state’s central bank said.
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The listing of UAE local companies on foreign exchanges
Ahmed Ibrahim of Ibrahim & Partners considers the scope of application and the expected reactions towards a decree obliging Dubai-based companies to list their shares on Dubai’s stock exchanges …
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UAE’s Universal Tubes and India’s Tata in world’s first blockchain-led trade finance for steel
The first blockchain-based trade finance deal in the global steel industry has been struck – and it involves a UAE-based business. The transaction was done by UAE’s Universal Tubes & Plastic …
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Central Bank of UAE imposes financial sanction on an exchange house
Dubai: The Central Bank of the UAE (CBUAE) imposed a financial sanction on an exchange house operating in the UAE for violating the law on Anti-Money Laundering and Combating the Financing of …
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HSBC Blockchain Trade Finance for Tata Steel & Universal Tube
HSBC has successfully executed a blockchain-enabled, live trade finance transaction between the UAE’s Universal Tubes & Plastic Industries Ltd and India’s Tata Steel Ltd. The Contour blockchain …
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What first quarter bank results say about the health of the UAE economy
First Abu Dhabi Bank (FAB), the UAE’s largest bank, on Wednesday reported a group net profit of Dh 2.5 billion in the first quarter of 2021, up 3 per cent compared to Dh2.4 billion in the first …
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UAE trade finance platform goes live with invoice fraud solution
UAE Trade Connect (UTC), a trade finance solution that addresses the risk of double financing and fraud across the United Arab Emirates, has moved into full commercial production. Having been in …
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Saudi Tadawul Group narrows banks for IPO process -sources
Saudi Tadawul Group has short-listed three local and three foreign banks for potential advisory roles in the financial market company’s upcoming initial public offering (IPO), three sources said.
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