Dubai’s sovereign wealth fund Investment Corporation of Dubai (ICD) has picked up a significant stake in Swiss banking app Centralway Numbrs. Centralway said on its website that it raised investment from Dubai’s sovereign wealth fund though it did not …
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Dubai lender Emirates NBD’s fourth quarter profit drops on higher cost of funding and devaluation of Egyptian pound
Dubai’s largest bank said on Monday its net profit fell to Dh1.85 billion for the three months to the end of December, a decline of 12.8 per cent compared with the same period a year earlier. The bank blamed the decline on the higher cost of fixed …
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Bank Muscat fourth quarter profit up 1.3%, in line with estimates
Dubai: Bank Muscat, Oman’s largest lender, posted a 1.3 per cent increase in fourth-quarter net profit on Sunday, according to Reuters calculations, in line with analysts’ estimates. The bank made a profit of 39.7 million riyals (Dh379.2 million …
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“Total Fiasco, Utter Circus!” Cried The CIO Asking "What's The Next Big Trade?"
The $2bln Dubai deal. That random pile of manila folders … “Those kinds of big moves are mandatory for hedge funds to make real money.” A few people profited from Japanese interest rates last year. Some nimble punters made money on Brexit.
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Abu Dhabi's UNB says IPO for its Islamic insurer JV heavily oversubscribed
DUBAI Jan 12 Abu Dhabi’s Union National Bank (UNB) said on Thursday an initial public offer for its new Islamic insurer joint venture Orient UNB Takaful, was more than 13 times oversubscribed. The IPO is set to be the first in the United Arab Emirates …
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Orient UNB Takaful IPO more than 13times oversubscribed
The Orient UNB Takaful IPO size was 600,000 Ordinary Shares representing 30 per cent of the equity of the new Company (AED 60 Million) with a share price of AED 100 plus AED 1 as issuing expenses. Union National Bank is currently working with Dubai …
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Orient UNB Takaful IPO more than 13 times oversubscribed
The Orient UNB Takaful IPO size was 600,000 Ordinary Shares representing 30 per cent of the equity of the new Company (AED 60 Million) with a share price of AED 100 plus AED 1 as issuing expenses. Union National Bank is currently working with Dubai …
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Going global from the UAE: ShortPoint
The success of the IPO recognised the challenges of going online quickly and … ShortPoint is a global business built out of the UAE. It leverages all the support that Dubai offers – safety, networking, access, mentorship, hub facilities.
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Saudi Aramco: Behind The World’s Biggest IPO
But an IPO of Saudi Aramco is the world’s top crude producer’s way of responding to the current oil price rout. The listing of about 5% of Aramco was part of an economic shakeup announced by the influential Deputy Crown Prince Mohammed bin Salman in …
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UAE Food Bank: Hundreds of eateries, stores join initiative
During its first five days agreements signed with 85 hospitality-sector entities, including hundreds of restaurants and over 100 supermarkets. The initial strategic plan for the UAE Food Bank has been inspected by its Chairperson Shaikha Hind bint Maktoum …
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International organisations keen to work with UAE Food Bank
Dubai: International organisations will reach out to partner with the UAE Food Bank in its fight to eliminate food waste and channel good food to good causes, experts said. The UAE Food Bank’s mechanism and implementing guidelines have yet to be released …
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Dubai Financial Market planning to allow short-selling
DUBAI Jan 3 Dubai Financial Market (DFM) , the Gulf’s only listed stock exchange, said on Tuesday that it planned to introduce covered short-selling, a move that could increase trading liquidity. “DFM is planning implementation of regulated short-selling …
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UAE's new Food Bank aims for zero food wastage and help for the needy
Dubai is aiming to become the first city in the region to achieve zero food waste with the launch of a new UAE Food Bank. The initiative was launched by by UAE Prime Minister and Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum as part of the UAE’s …
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Dubai Islamic Bank sells stake in Jordanian bank
DUBAI Dubai Islamic Bank DISB.DU (DIB), the largest Islamic bank in the United Arab Emirates, has sold its stake in Jordan Dubai Islamic Bank, it said on Wednesday, as it chases growth in fledgeling Islamic banking markets. The Jordanian bank has …
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Akin Gump promotes 10 to partnership
Fadlallah leads the firm’s international trade practice in Dubai. He focuses his practice on the application … He provides counselling to private equity funds, hedge funds, institutional investors and portfolio companies on a variety of financing …
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Shaikh Mohammad Bin Rashid launches Emirates Food Bank
Vice-President and Prime Minister of the UAE and Ruler of Dubai, launched the Emirates Food Bank as a humanitarian foundation that aims to inculcate the values of generosity and offering food, establishing Dubai as the region’s first city in achieving …
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UAE Food Bank lends new meaning to Year of Giving
The UAE Food Bank is an ambitious project that will ensure no child or adult goes to bed on a empty stomach. There are about 795 million people in the world who do not have enough food to lead a ”healthy, active” life. The World Food Program says one in …
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