Banks in the UAE offer personal loans based on two types of interest rates — flat rates and reducing rates. The interest and sum payable on a loan is calculated at the start of the repayment schedule …
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Sanjeev Gupta’s finance chief quits
Steel tycoon’s GFG Alliance strikes Australian rescue deal with Californian lender, whose British arm “cuts red tape” …
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UAE: Indian expat complains against bank’s interest for a fully paid up loan
Bank resolved the issue after Gulf News’ intervention …
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IPO Fever Heating up Arab Gulf National Oil Companies
Middle Eastern national oils are heading to increased asset monetization, partly to reap the financial rewards of entering financial markets, locking in demand regions or to mitigate energy transition …
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Central Bank of UAE collaborates with SWIFT to enhance cross-border payments
The Central Bank of the UAE (CBUAE) is collaborating with SWIFT on an initiative to enhance the speed and transparency of cross-border payments. The CBUAE will be the first central bank globally to …
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JPMorgan, FAB Poised to Win Roles on Adnoc Drilling Unit IPO
Abu Dhabi National Oil Co. is close to hiring JPMorgan Chase & Co. and First Abu Dhabi Bank PJSC to help arrange the potential listing of its drilling business, according to people familiar with the …
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Sheikh Mohammed orders major changes in Dubai govt entities
A number of Dubai government entities will undergo major restructuring as His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, in his capacity as Ruler of …
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Zomato IPO: The company’s business, risks, and COVID-19 impact
Food delivery and aggregator Zomato last week filed for an initial public offering with the SEBI; Zomato’s largest shareholder InfoEdge will be divesting a part of its stake for Rs 750 crore through …
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Mubadala hires banks to advise on Yahsat IPO – report
The UAE-based Mubadala Investment Company has hired Bank of America and Morgan Stanley as advisors for a potential initial public offering (IPO) of satellite operator Yahsat, Bloomberg reported, …
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Dubai telco du raises Dh3.76b in loans from banks for expansion needs
Dubai: The Dubai telco du has raised long-term debt finance of Dh3.76 billion from a group of banks to part fund its expansion and other requirements. The debt is split into a Dh1.98 billion five-year …
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HSBC launches ‘green deposit’ facility for UAE corporate clients wanting to do good
HSBC thus becomes first bank in UAE to offer this green financing option Dubai: Corporate clients of HSBC’s UAE operations can now use their deposits for a greater purpose. The UK bank has launched …
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S&P: Global Islamic finance to grow as main markets recover
DUBAI: The US$2.2 trillion (RM9 trillion) global Islamic finance industry is expected to grow 10%-12% over 2021-2022 due to increased Islamic bond …
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Property, banking stocks boost Dubai; Saudi index falls
DUBAI: Most major stock markets in the Gulf closed higher on Monday, with the Dubai index outperforming the region …
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Global Islamic Finance Forecast to Grow as Main Markets Recover – S&P
The $2.2 trillion global Islamic finance industry is expected to grow 10%-12% over 2021-2022 due to increased Islamic bond issuance and a modest economic recovery in the main Islamic finance markets, …
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UAE- BitOasis entity secures regulatory approvals as virtual assets gain rapid adoption globally
BitOasis has been granted a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM) and is currently working towards the …
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Islamic finance to see 12% growth in 2021-22: S&P
The global Islamic finance industry will grow by 10%-12% in 2021-2022 after slowing to 10.6% in 2020, said S&P Global Ratings in a new report, highlighting that the sector is on track to move toward …
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Abu Dhabi Islamic Bank, Dubai property stocks drive UAE markets
Abu Dhabi Securities Exchange picked up 0.3 per cent to 6,092 points in early Monday trades, with Abu Dhabi Islamic Bank the biggest gainer with 1.5 per cent after first-quarter profits more than …
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