Standard Chartered Plc is cutting more than one hundred jobs in the United Arab Emirates, the latest effort by the lender to shrink costs globally. The reductions will center on the lender’s retail …
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Commercial Bank of Dubai Is Said to Plan Bond After 5-Year Break
Commercial Bank of Dubai PSC is looking to follow the emirate’s government in returning to global debt markets with a plan to sell dollar-denominated bonds after a hiatus of almost five years, …
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S&P expects Dubai’s debt load to worsen, doesn’t see pre-pandemic recovery until 2023
“Rating agencies are in an awkward position when it comes to Dubai,” Nasser al-Shaikh, a former head of Dubai’s finance department, told CNBC. Al-Shaikh rejects the agencies’ numbers. “With it being …
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UAE gets a peer-to-peer payments app that lets you split bills with friends
Dubai resident Becky Jefferies … “We see our future in autonomous finance, or self-driving money, where users essentially park their money in Ziina,” Mr Toukan says. Self-driving finance is a …
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Top 10 UAE commercial banks see profits drop by 38.9%
The UAE’s top 10 listed commercial banks saw profits decrease by an average of 38.9 percent in the first half of 2020, due to the double challenge of low interest rates and low oil prices, according …
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Exiled Trader Accused of Fraud Says Denmark Offered Four Years in a ‘Nice Cell’
Sanjay Shah, a former trader and hedge-fund manager accused by Denmark of orchestrating a $2 billion dividend-tax fraud, said he rejected a plea bargain with the Nordic country that would have meant …
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Saudi Arabia’s BinDawood Holding prices IPO at $25.59 a share -statement
The retailer, which owns the Danube and BinDawood supermarket brands, said the book-building process generated an order book of $28.50bln …
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Saudi Arabia’s BinDawood Holding prices IPO at 96 riyals a share
Saudi Arabian supermarket retailer BinDawood Holding has priced its initial public offering at 96 riyals ($25.59) a share, the company said on Wednesday.
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EXCLUSIVE-Saudi PIF in talks to buy stake in UAE supermarket chain Lulu -sources
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is in early discussions to buy a stake in supermarket chain Lulu Group International, two sources familiar with the matter told …
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Exile Trader Says Danes Offered Four Years in a ‘Nice Cell’ in German Tax Case
Sanjay Shah, a former trader and hedge-fund manager accused by Denmark of orchestrating a $2 billion dividend-tax fraud, said he rejected a plea bargain with the Nordic country that would have meant …
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UAE bank results for Q3 to come under pressure from bad loans, low margins
A week away from reporting the third quarter results, bankers and anlysts have indicated that the profits for the sector is under pressure from rising non-performing loans linked to COVID-related job …
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The Unemployed Trader Who Became a $700 Million Exile
When Sanjay Shah lost his job during the financial crisis more than a decade ago, he was one of thousands of mid-level traders suddenly out of work.
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Sanjay Shah: The unemployed trader who found himself in a $700-mn exile
Sanjay Shah’s dividend-trading fund made him rich but reviled.Fueling his ascent were what he maintains were legal, if ultimately controversial, Cum-Ex trades …
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British businessman Sanjay Shah amasses $700 million in exile. Here’s all you need to know about him
Here’s a look at the key details of Sanjay Shah’s profile who has been accused of dividend tax fraud in Denmark since 2015, which caused the country loss of 12.7 billion krone ($2 billion).
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The Unemployed Trader Who Became a $700 Million Cum-Ex Exile
When Sanjay Shah lost his job during the financial crisis more than a decade ago, he was one of thousands of mid-level traders suddenly out of work.
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DFM announces launch of new equity derivatives platform
Dubai Financial Market (DFM) on Tuesday announced that it has … enabling investors to diversify and hedge their portfolios and access leverage. The platform will be launched in October 2020, …
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Video: Starzplay’s middle east growth and expansion plans
The CEO of Dubai-based online streaming platform Starzplay … However, he admitted this will not accelerate plans for an IPO. He said: “IPO is definitely our ambitious goal, but we’re also perhaps …
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