DUBAI/NEW YORK (Reuters) – Saudi Aramco is considering the sale … oil company to a Chinese investor is being evaluated as a precursor to the international IPO, according to two sources who spoke on condition of anonymity as the information was not …
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What do the numbers say about the Kuwaiti banking system?
Read: INSIGHT: Unveiled Qatar Billions to Underwrite Banks According to a recent study by the First Abu Dhabi Bank, the UAE’s banking system comprising of 48 banks affords great financial solvency and reaps the fruits of an open economic and financial …
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Qatar crisis sends tremors through banking in the Gulf
Officials concede that Dubai cannot disentangle itself from the UAE’s role in the embargo. The UAE central bank ordered lenders in the federation to impose enhanced due diligence measures on six Qatari lenders. The DIFC’s regulator has also told …
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This time, the Gulf IPO wave looks likely to make it ashore
That could happen as a soon as next month, with a suggested market capitalization in the region of $6 billion and an IPO value of around $2 billion. The cash will be used mainly to pay dividends, with the government of Dubai a prime beneficiary from its 29 …
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What America thinks of Saudi Aramco
DUBAI: As Saudi Aramco ponders the venue for what will be … They see it as a traditional oil company but also one which is diversifying into other areas. “The hedge funds will probably like it less. It will not be a stock where they can make millions …
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The bank of the future
Today, for our mobile banking application, Snapp, our oldest customer is almost 92 years old, while the youngest is 18. All this comes as the infrastructure for digital becomes well entrenched in the UAE. Mobile phone penetration is now at a world-record …
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Ackman reaches out to ADP retail investors, softens image
The 51-year-old hedge fund manager is pushing ADP to cut bureaucracy … He also said he is open to having top executives stay and would not envision large scale-layoffs. RAQQA/DUBAI (Reuters) – While Syrian President Bashar al-Assad was accusing the …
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Exclusive: Netherlands’ ABN Amro Bank to strengthen Mena presence
… pre-initial public offering (IPO) services to its clients in the region, Hugo Peek, the chief executive of corporate and Institutional banking for Europe Middle East and Africa region, told The National in Dubai. The lender, which has seen a …
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Dubai Islamic Bank third-quarter profit up 26%
DUBAI: Dubai Islamic Bank (DIB), the United Arab Emirates’ largest Sharia-compliant lender, posted a 26 percent increase in third-quarter net profit on Wednesday as higher income from Islamic financing and investing offset a rise in impairment charges.
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Qatar National Bank rules out sale of stake in UAE bank
DUBAI- 11 October 2017:Qatar National Bank’s said on Wednesday its stake in United Arab Emirates-based Commercial Bank International is not for sale. There has been speculation over QNB’s stake in the UAE bank after other Qatari companies cut some UAE …
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UAE Ministry of Finance Conducts Signing Ceremony With Federal Tax Authority to Join e-Dirham System
In a signing ceremony with the UAE Ministry of Finance (MoF), the Federal Tax Authority (FTA) joined the e-Dirham system, which is a fully integrated electronic payment and revenue collection developed in partnership with First Abu Dhabi Bank. This further …
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Dubai’s DIFC proposes new laws to strengthen wealth management sector
Dubai International Financial Centre (DIFC) has proposed a new Trust Law regime and a new Foundation Law regime. DIFC Authority’s Legislative Committee said it has invited public comment on the new proposed laws, which are primarily designed to enhance …
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UAE doesn’t share info about $8bn investment by Pakistanis in real state, NA told
ISLAMABAD: The Federal Board of Revenue, the State Bank of Pakistan and the Federal Investigation Agency informed the National Assembly’s Standing Committee on Finance that the United Arab Emirates (UAE) authorities did not share information about those …
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Dubai Islamic Bank says assets top AED200bn for first time
Dubai Islamic Bank, the largest Islamic bank in the UAE by total assets, on Wednesday reported a 10 percent rise in nine-month net profit to AED3.3 billion ($900 million) compared to the same period in 2016. Total income increased to AED7.5 billion for the …
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Bahrain banking to remain ‘sluggish’ in 2017 – study
Bahrain’s banking sector is expected to remain sluggish into 2018 … Subscribe to Arabian Business’ newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
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Mashreq Bank Transforms Banking Experience With Avaya
Mashreq Bank, one of the leading financial institutions in the UAE, announced today it is working with Avaya to develop customer experience solutions that will take the digital banking experience to the next level. Avaya and Mashreq Bank will work closely …
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Dubai Islamic Bank posts 26 pct Q3 profit rise
DUBAI, Oct 11 (Reuters) – Dubai Islamic Bank (DIB), the United Arab Emirates’ largest sharia-compliant lender, posted a 26 percent increase in third-quarter net profit on Wednesday as higher income from Islamic financing and investing offset a rise in …
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