The Dubai Financial Services Authority (DFSA) announced today that it is now a member of the Central Banks and Supervisors Network for Greening the Financial System (NGFS), becoming one of the first …
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Dubai Chamber-led group introduces innovative startups banking solutions
New banking and licensing solutions tailored to the needs of startups, an uptick in the number of fintech startups specialising in SME banking and increased cooperation between UAE banks and the …
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Dubai Chamber-led working group provides banking solutions to innovative start-ups
DUBAI- New banking and licencing solutions tailored to the needs of start-ups, an uptick in the number of fintech start-ups specialising in SME banking and increased cooperation between UAE banks and …
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UAE’s Emirates NBD to open 20 bank branches in Saudi Arabia
Emirates NBD plans to open 20 branches across Saudi Arabia as part of the UAE banking group’s plans to strengthen economic ties with the kingdom, with the move approved by Saudi Arabian Monetary …
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ADIB and Al Baraka Banking Group sign MoU to expand network
ADIB is a leading bank in the UAE with more than AED 124.6 billion in assets. The bank also offers world-class online, mobile and phone banking services, providing clients with seamless digital access …
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U.S. hedge fund holds talks with Dubai-based Bin Zayed Group over £300m Newcastle FC purchase
An American hedge fund backed by Japanese investment giant SoftBank has been holding talks with the Dubai-based Bin Zayed Group which is interested in buying Newcastle United Football Club for between …
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European financial major makes Gulf debut with Dubai deal
Woodbrook Group Holdings Ltd, one of Europe’s largest international firms of financial consultants, on Thursday confirmed it has established its first base in the Middle East with the acquisition of …
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First Abu Dhabi Bank’s shares rise following plan to remove foreign ownership limit
First Abu Dhabi Bank’s board proposed removing the foreign ownership limit after the United Arab Emirates started loosening rules to attract international investors. The shares advanced. The change is …
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Evercore set to lose out as Aramco reshuffles IPO roles: sources
LONDON/DUBAI (Reuters) – Boutique investment bank … expected to be the world’s largest ever initial public offering (IPO). But the relationship between Evercore and Aramco deteriorated …
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UAE banking giant eyes removal of cap on foreign ownership limit
First Abu Dhabi Bank has proposed removing a cap on the foreign ownership limit in its sharers after the UAE started loosening rules to attract international investors. The board’s proposal is subject …
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Emirates NBD second quarter net profit surges 80% on income from unit IPO
Emirates NBD, Dubai’s largest lender by assets … Middle East and Africa that joined the FTSE 250 Index of London-traded equities last month. NI’s IPO was the biggest of the year at the time of its …
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US fears Iran seized UAE-based tanker in Strait of Hormuz
DUBAI, United Arab Emirates — A small oil tanker from the United Arab Emirates travelling through the Strait of Hormuz entered Iranian waters and turned off its tracker three days ago, leading the U.S …
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Dubai Islamic H1 net profit soars 13pc to $735m
Dubai Islamic Bank, the largest Islamic bank in the UAE, has posted a net profit of Dh2.753 billion ($749 million) for the first half (H1) of the year, as against Dh2.441 billion in H1 2018, marking a …
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Emirates NBD second quarter net profit surges 96% on income from unit IPO
Emirates NBD, Dubai’s largest lender by assets … Middle East and Africa that joined the FTSE 250 Index of London-traded equities last month. NI’s IPO was the biggest of the year at the time of its …
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UAE’s Bayt.com eyes going public
UAE – Bayt.com, a leading online marketplace for jobs in the Middle East, is planning to file for an initial public offering (IPO) over the coming period, Al Bayan newspaper reported. The Dubai-based …
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Egyptian digital payments company Fawry preparing for IPO
Al-Borsa said EFG Hermes would manage the IPO and Zulficar & Partners would serve as legal counsel. EFG Hermes declined to comment when contacted by Reuters. The last IPO by a private company on the …
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The Debt Panel: ‘A UAE bank is chasing me for a liability from 1997. Do debts expire?’
I was recently contacted by a debt collection agency by phone on behalf of a bank in the UAE. They alleged there are outstanding credit card dues from 1997 for some Dh200,000. I left the UAE in …
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