Abu Dhabi: Emirates Development Bank (EDB) today announces the launch of UAE’s National Supply Chain Finance (SCF) platform, giving UAE businesses improved access to working capital by enabling …
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U.S. should try to delay IPO of China’s Ant Group, Senator Rubio says
The Administration should take a serious look at the options available to delay Ant Group’s IPO,” he added.
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Why Yalla Stock Just Went Up 11%
And what a week it’s been! After trading began at an offer price of $7.50 per American depositary share, Yalla opened at $9.75 (30% above the offer price) then closed the day at $7 (7% below the offer …
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UAE, Swiss ministers discuss ways to enhance financial partnerships
The UAE will continue to participate in the G20’s Global Partnership for Financial Inclusion, GPFI, for the next three years as a non-G20 member. Younis Haji Al Khoori, Undersecretary of the Ministry …
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Most major Gulf markets little changed; Air Arabia lifts Dubai
Major stock markets in the Gulf were little changed in early trade on Thursday, with Air Arabia helping the Dubai index stay in positive territory.
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Standard Chartered cutting more than a hundred jobs in the UAE
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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