‘UAE paid $3bn to finance Turkey coup attempt’

The United Arab Emirates financed a high-profile coup attempt last year in Turkey and paid about three billion dollars to the putschists, a columnist in a Turkish daily has claimed. Mehmet Acet, a columnist for Yeni Safak daily, said on Tuesday that ... ( read original story ...)

Dubai startups get new funding sources

The Mohammed Bin Rashid Fund (MBRF), which is the financial arm of Dubai SME, and finance platform Beehive have signed a memorandum of understanding (MoU) to aid small and medium-sized enterprises (SMEs) with their financing needs. The MoU will enable SME ... ( read original story ...)

Natural gas built Qatar, now may protect it in Gulf dispute

As a hedge ... sovereign wealth fund called the Mubadala Development Co., French oil giant Total SA and Houston-based Occidental Petroleum, did not respond to a request for comment. Without that natural gas, electricity plants in Dubai and the UAE capital ... ( read original story ...)

Emaar rethinks IPO strategy

The funds raised from the IPO will be distributed among the company’s shareholders as a special dividend – the primary beneficiary in this case will be Investment Corporation of Dubai (ICD), the main sovereign wealth fund of the emirate, which owns ... ( read original story ...)

You don’t need to provide your bank statement to your employer

You may advise your employer that you will not provide your personal bank account statement. However, you are willing to provide the same to the authorities in the UAE, if asked by the authorities. The detention of a passport by the employer against the ... ( read original story ...)

Emaar hires Goldman Sachs to manage IPO of real estate unit

The malls unit IPO raised about $1.58 billion in 2014 and is the largest share sale in the UAE in the past nine years, according to data compiled by Bloomberg. Emaar, listed on the Dubai Financial Market, announced plans to spin-off its real estate unit on ... ( read original story ...)

Expats lacked financial discipline those days

Sheikh Sultan was just 24 years old when we decided to start present Barjeel Geojit Securities LLC, the Indo-UAE joint venture in financial services. I have tremendous satisfaction for being instrumental in the formation of this joint venture, which has ... ( read original story ...)

UAE blacklist likely to squeeze liquidity of Qatari banks

Qatari banks have around 60 billion riyals ($16 billion) in funding in the form of customer and interbank deposits from other Gulf states, Chiradeep Ghosh, banking analyst at SICO Bahrain, said. But the United Arab Emirates central bank has ordered local ... ( read original story ...)