Deliveroo has raised more than $180 million in a new funding round and is set to expand its business globally. The latest funding round values the food delivery firm at over $7 billion. The …
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Saudi Arabia’s Top Bank Follows UAE Rivals to Dollar Bond Market
Saudi Arabia’s National Commercial Bank hired advisers to tap the dollar bond market, joining rivals in the neighboring United Arab Emirates to take advantage of investors’ appetite for yield.
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Dubai Stocks Fall Most in Mideast as Earnings Roll In: Inside EM
Dubai stocks led losses in the Middle East as companies started reporting results across the region and the number of coronavirus cases surged.
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Mastercard reports UAE’s shift away from cash to contactless payments
The Mastercard Economics Institute recently released a global outlook report, Economy 2021, which shares a detailed analysis of the …
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The ‘unsung hero’ that helped save Dubai’s property market from coronavirus
Broker Allsopp & Allsopp sees 22% increase in revenues as UAE gov’t policy changes drive recovery in latter months of 2020 …
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Clock ticking on $1b UAE cash facility
ISLAMABAD: The United Arab Emirates (UAE) has not yet indicated that it wants to withdraw $1 billion cash support – maturing next week – to Pakistan. The facility can be exten …
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Online payments, digital wallet growth, set the stage for Saudi Open Banking 2022
On the heels of Saudi Arabia’s central bank’s (SAMA) future launching of a framework for open banking in the kingdom during H1 2022, there is a buzz of excitement among fintech players who are already …
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Saudi Arabia’s open banking plans could ‘revolutionize’ opportunities for fintech
The move could open the market to numerous fintech services, spurring competition and increasing users’ options when it comes to managing their own finances.
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Mortgage financing: Dubai Islamic Bank, EMAAR sign agreement
Dubai Islamic Bank & EMAAR Karachi Ltd signed an agreement to promote home financing for their current… KARACHI: Dubai Islamic Bank & EMAAR Karachi Ltd signed an agreement to promote home financing …
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Remaining Creditors Do Not Want Och-Ziff Hedge Fund Shares from Old Dubai Holding Loan
Dubai Holding Investments Group LLC, a unit of Dubai Holding (family enterprise controlled by Dubai’s ruler) acquired a 51.4% stake in Class A shares in Och-Ziff Capital Management Group, a U.S. hedge …
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Qatar’s first IPO since 2019 sees shares in QLM soar 17%
Qatar Insurance Co., which will retain a 25 per cent stake in QLM after raising 659 million riyals ($180 million) from the sale, fluctuated between gains and losses as most shares in the Qatar …
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Russia’s Alfa-Bank and UAE’s First Abu Dhabi Bank Join CLSNet
CLS announced on Monday its partnership with two new banks, Alfa-Bank and First Abu Dhabi Bank, that agreed to use payment netting calculation services CLSnet.
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Dubai partner ‘very happy’ with Trump Org despite Capitol chaos
Donald Trump’s business partner in Dubai on Wednesday said he was interested in expanding their commercial relationship despite the storming of the U.S. Capitol last week.
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Citigroup plans to triple wealth management assets in the UAE
Citigroup’s wealth-management business in the UAE plans to triple assets under management to $15 billion over the next five years by increasing the number of its client-relationship managers. As part …
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UAE’s First Abu Dhabi Bank issues five-year $500m sukuk
Abu Dhabi’s biggest lender, has issued a $500m five-year sukuk, which is the lowest-ever yield on any five-year MENA bank USD issuance, issued at MS+90bps (all-in yield of 1.411 per cent) through FAB …
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UAE’s largest bank issues $500m sukuk, first globally in 2021
First Abu Dhabi Bank (FAB), the UAE’s largest bank, on Monday announced it has issued the first sukuk globally in 2021. The bank said it has issued the lowest-ever yield on any five-year MENA bank US …
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UAE, US discuss joint strategic relations
During the meeting, Tayer expressed the UAE’s strong commitment to further consolidate joint dialogue with the US, as it is one of the country’s most important strategic partners.
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