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Tag: finance

Posted on 15/07/2021

Dubai regulator DFSA hits ex-Abraaj finance chief with record $1.7m fine

The former finance chief of the now-defunct Abraaj Group … 2019 collapse but was too afraid to speak out, according to the Dubai financial regulator. Ashish Dave was handed a $1.7m fine by …
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Posted on 15/07/2021

Meet Aziz Al Harbi of RoboStores, the Saudi expat who is home in the UAE

Dubai: Several expats who come to the UAE in search of greener pastures continue to live here. Their children grow up in the UAE and make it their home. Saudi expatriate Aziz Al Harbi, 32, moved into …
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Posted on 14/07/2021

Zomato IPO oversubscribed on first day

The IPO comes at a time when Indian and global markets are at near record highs. On Wednesday, the 30-share BSE Sensex closed at 52,904.05 points, which is 134.32 or 0.25 per cent higher than the …
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Posted on 14/07/2021

Dubai regulator hands ex-Abraaj finance chief $1.7m fine

Dubai’s financial regulator has imposed a $1.7m fine on the … the ruling said, citing the former finance chief’s written response to the regulator in March. Dave knew such activity was illegitimate, …
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Posted on 14/07/2021

Yahsat starts trading in Abu Dhabi after successful IPO

UAE-based satellite operator Yahsat announced the official listing of its shares and the commencement of trading on the Abu Dhabi Securities Exchange, following the successful completion of its IPO.
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Posted on 14/07/2021

Dubai Regulator Hits Ex-Abraaj Finance Chief With Record Fine

The former finance chief of the now-defunct Abraaj Group said he was aware of the fraud that led to the private equity firm’s 2019 collapse but was too afraid to speak out, according to the Dubai …
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Posted on 14/07/2021

UAE’s ADNOC invests over $750mln in drilling services to boost oil production

The investment is in the form of three contracts awarded by ADNOC Offshore to Schlumberger, ADNOC Drilling, and Halliburton …
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Posted on 14/07/2021

A Guide To Traveling Around UAE On a Budget

Knowing a bit of finance can actually benefit you in many ways! Especially when you are on a budget. If you are traveling to the UAE or moving around UAE and want to do it on a budget then his UAE …
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Posted on 14/07/2021

After Pine Labs & Mobikwik, now Visa & Lightbox backed B2B payment solutions firm PayMate planning an IPO

The firm’s founder Ajay Adiseshann is a technology entrepreneur . Beyond Visa & Lightbox, the firm’s other investors include Recruit Strategic LLC, Mayfair 101, BCCL, Mayfield Fund, Kleiner Perkins Ca …
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Posted on 14/07/2021

Mubadala-backed Yahsat expects new satellite launch in H2 2023 -CEO

Yahsat, the newly listed satellite company partly owned by Abu Dhabi state investor Mubadala, plans to launch a new satellite in two years, aimed at introducing advanced data services to its clients …
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Posted on 14/07/2021

Meet MMK Nair, Indian expat from Kerala, who has served Dubai’s aviation for 51 years

Accounts clerk in 1970, who retired as Dubai Airport finance director, runs flying school Dubai: As a college boy, Indian expat Mundarath Muralikrishnan Nair, known as MMK Nair, was fascinated by …
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Posted on 14/07/2021

Dubai’s Masherqbank prepares for a digital-only future

Dubai: One of the oldest banks in the United Arab Emirates is preparing for a digital-only future as it fends off competition from non-traditional financial services startups. Dubai-based Mashreqbank …
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Posted on 14/07/2021

XTB MENA Receives a License from the Dubai Financial Services Authority

XTB has been granted through its branch XTB MENA a category three license from the Dubai Financial Services Authority (DFSA) to operate in the country.
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Posted on 13/07/2021

UAE Central Bank issues monetary, banking developments for May 2021

The Central Bank of the UAE has announced that the Money Supply aggregate M1 increased by 0.3 per cent, from Dh644.4 billion at the end of April …
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Posted on 13/07/2021

National Bank of Fujairah, APICORP extend $34m for TotalEnergies’ 50MW renewable energy project in Dubai

Dubai: The National Bank of Fujairah and the Arab Petroleum Investments Corp. (APICORP) have extended $34 million to the French energy giant TotalEnergies to develop a 50MW renewable energy portfolio …
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Posted on 13/07/2021

UAE: Do you know your net worth? Here’s why knowing it matters.

Most people work towards building up their net worth, an indicator of financial progress Dubai: However, many times people overlook the need to secure their financial journey by focusing only on long …
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Posted on 13/07/2021

China’s US IPO queue to shrink amid regulatory crackdown

China’s crackdown on US initial public offerings (IPOs) by its companies has put its burgeoning pipeline of potential listings at risk.. Read more at straitstimes.com.
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