DUBAI (Reuters) – Saudi Aramco IPO-ARAM.SE said on Thursday it is looking to buy a strategic stake in Saudi petrochemical maker SABIC 2010.SE, a move that could boost the state oil giant’s market valu…
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Dubai’s Mashreq posts 5.2% rise in H1 net profit
Dubai-based Mashreq Bank on Wednesday posted a 5.2 percent increase in net profit to AED1.2 billion for the first half of 2018 compared to the year-earlier period. Operating ncome was up by 3.7 percen…
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UAE Tops List of 84 Most Complex Countries for Compliance; Ireland Is Simplest
Besides the UAE, Qatar, China, Argentina and Malaysia were ranked in … Brazil and Uruguay. “As the global push for financial transparency continues, international firms face an increasingly complex …
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Hedge Fund York Capital Joins Race for Abraaj Assets
York Capital Management, the hedge fund run by Jamie Dinan, is the latest party to join the race to buy the asset-management platform of embattled Dubai private-equity firm Abraaj Group, according to …
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Dubai Islamic Bank Group 1st Half 2018 Financial Results
Dubai Islamic Bank (DFM: DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, today announced its first half results for the period ending June 30, 2018. …
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Report: UAE banks continue to register higher profitability
on Sunday said in its latest UAE Banking Pulse for Q1 2018 report. Comparing the data of the 10 largest listed banks in the UAE, this UAE Banking Pulse report looks at the first quarter of 2018 (Q1 20…
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Dubai Bank credit officer charged with a plot to steal Sh245 million
NAIROBI, KENYA: A credit officer at Dubai Bank Kenya (in liquidation) has been charged with a plot to steal Sh245 Million. Rajab Ahmed Karume appeared before Milimani Senior Principal Magistrate Marth…
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UAE banks to record higher profitability and liquidity through 2018 Stand first
The country’s 10 largest listed banks analysed in A&M’s UAE Banking Pulse are First Abu Dhabi Bank, Emirates NBD as well as Abu Dhabi Commercial Bank, Dubai Islamic Bank and Mashreq Bank. Additionally …
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UAE banks improve first quarter performance as costs decline, Alvarez & Marsal says
Commercial Bank of Dubai reported a 68 cent rise in its first-half net income as operating expenses and impairment charges for bad loans declined while net interest and fee income climbed. Net profit …
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Japan group rebrands subsidiary as MUFG Bank
The Bank of Tokyo Mitsubishi, DIFC-Dubai has been renamed MUFG Bank, Ltd., DIFC Branch – Dubai • The Bank of Tokyo Mitsubishi, Bahrain has been renamed MUFG Bank, Ltd., Bahrain Branch • The Bank of To…
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Sharjah Islamic Bank’s net profit up 4% in first half 2018
Dubai: Sharjah Islamic Bank (SIB) on Sunday reported Dh283 million net profit for the first half 2018 compared to Dh272.9 million in the same period last year. Net operating income reached Dh524.2 mil…
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How millennials can keep tabs on their financial health in the UAE
For many, credit cards are either a convenience with rewards and part of a budgeting strategy or a tempting gateway to spending beyond your means. Yet credit cards used wisely from a young age could a…
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UAE’s RAKBANK signs partnership with FC Barcelona
The deal, extendable by another two years, will see RAKBANK become the Official Bank of FC Barcelona in the UAE. This partnership entails the launch of new FC Barcelona dedicated co-branded products i…
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Bahrain dinar hits 17-year low vs dollar as hedge funds sell
DUBAI, June 26 (Reuters) – Bahrain’s dinar fell to a 17-year low of 0.38261 against the dollar in the spot market on Tuesday as hedge funds sold the currency in the forward market because of concern a…
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LDJ Cayman Fund Makes a $4 Million Investment in Octaneum
and Dubai. LDJ Capital has three subsidiaries: 1. LDJ Capital Group: Victoria Partners, LDJ Venture Capital, LDJ Hedge Fund, LDJ Media Fund, LDJ Capital Advisory, LDJ Capital Investment Bank, and LDJ …
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UAE banks now able to charge VAT on fees
Banks can now charge VAT on fees following a circular from the Central Bank of the UAE which rescinded a previous notice banning the practice. In circular 157/2018 called Amendment to Annexure 2 of th…
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US, UAE jointly disrupt Iran finance operation
The United States and the United Arab Emirates have broken up a network funnelling illicit funds to Iran as Washington steps up a drive to restrict Iranian trade and access to hard currency in the reg…
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