The New Development Bank (NDB) – established by BRICS (Brazil, Russia, India, China and South Africa) in 2015 – has admitted the United …
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Hedge Fund Manager Gets Four Years for $20 Million Fraud Scheme
The co-founder of a Connecticut hedge fund was ordered to spend four years in prison for scamming more than two dozen investors out of nearly $20 million in a Ponzi-like scheme. Jason Rhodes was …
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Big bank earnings: Profits at UAE’s major lenders reached $4bln in H1 2021
However, return on assets still remains well below pre-pandemic levels. The four big banks account for 77 percent of UAE banking assets, Moody’s said. Nitish Bhojnagarwala, Moody’s VP-Senior Credit …
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UAE: Reader complains about missing Dh1,500 deposited through bank’s ATM in Dubai
Deposited Dh36,700, but ATM issued a receipt for only Dh35,200 12 minutes ago Get Breaking News Alerts From Gulf News We’ll send you latest news updates through the day. You can manage them any time …
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UAE financial institutions under pressure to increase IT security
IT security risks in the industry increased since the start of COVID-19 Dubai: Majority (82 per cent) of IT decision makers working in banks and financial service institutions (FSIs) in the UAE are …
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Rising to the digital banking challenge in the Middle East
Covid-19 has undoubtedly emerged as the biggest disrupter, forcing customers and banks to embrace digital banking …
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Emirates Global Aluminium Considering IPO in 2022
Reuters reported that Emirates Global Aluminium is weighing a potential initial public offering next year. Sources said “EGA is Reuters reported that Emirates Global Aluminium is weighing a potential …
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Top UAE banks’ profits recover on easing provisions and economic recovery
Leading banks achieved double-digit growth in H1-2021 net profits Dubai: Profits at large UAE banks rose during the first six months of 2021 after a modest improvement in the operating environment …
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Air Link to raise Rs6.43b in biggest private sector IPO
Air Link Communication Ltd, a cell phone distributor in Pakistan, is all set to raise Rs6.43 billion as the two-day book-building of its Initial Public Offer (IPO) ended. The company had put its 90 …
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Millennium, Barclays Hire Ex-Bank of America Staff in Paris
Hedge fund Millennium Management LLC and Barclays Plc have hired a number of bankers who left Bank of America Corp.’s Paris offices earlier this year, following a wave of departures at the U.S. lender …
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Dubai’s Emaar considers sale of fashion e-retailer Namshi
Dubai: Dubai’s Emaar is weighing options to sell fashion e-commerce business Namshi that may include a listing abroad via a SPAC. An outright sale of Namshi may generate $600 million to $700 million …
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UAE top banks’ profits set to improve as provisioning eases -Moody’s
The United Arab Emirates’ top banks are likely to see profits increase over the next 12 to 18 months as they book lower loan-loss provisions while the economy recovers from the coronavirus shock, …
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UAE Leader Holds “Friendly” Call With Old Foe Erdogan
The defacto ruler of the United Arab Emirates held a “positive and friendly” call with Turkey’s President Recep Tayyip Erdogan to discuss bilateral ties, the latest sign of a rapid thaw between the …
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Dubai Islamic Bank plans dollar senior sukuk – sources
Dubai Islamic Bank , the United Arab Emirates’ largest Islamic lender, is planning to soon sell U.S. dollar-denominated senior sukuk, or Islamic bonds, two sources said.
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First Abu Dhabi Bank expected to sell 250 mln pounds in 5-year bonds – document
First Abu Dhabi Bank is expected to sell 250 million pounds ($344.38 million) in five-year bonds, a document showed on Tuesday. FAB, HSBC, Standard Chartered and TD Securities are arranging the deal, …
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UAE Fine Living: Shuraa: UAE Residency for Indian entrepreneurs
The UAE is a popular destination among Indians for business and residency. Which is why, Dubai has been home to Indians for several decades, by way of employment, investment, and entrepreneurship.
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Dubai EXPO-2020: Committee approves proposals for participation
LAHORE: The second meeting of the steering committee chaired by Provincial Minister for Industries & Trade Mian Aslam Iqbal was held here on Monday. The meeting approved various proposals and …
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