Dubai: Commercial Bank of Dubai (CBD), announced on Saturday its plan to launch “CBD Now”, the nation’s first digital-only bank targeting millennials and digitally connected customers in early 2017. “The launch of CBD Now during 2016 UAE’s …
( read original story …)
Dubai Islamic Bank and flydubai launch new Co-Branded Credit Card
Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, announced today the launch of its credit card in partnership with Dubai-based flydubai. The credit card will enable customers to enrol in OPEN, a newly launched rewards programme from flydubai.
( read original story …)
Mohammad Bin Rashid launches fund to finance innovative projects
Dubai: A fund to finance innovation projects has been created to boost the country’s approach towards innovation and facilitate the setting up of enterprises by innovative entrepreneurs. His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President …
( read original story …)
Market speculations on upcoming bank mergers still afloat
“We do not have any information from any official source about this topic [the merger], and it has not been discussed with the bank’s management,” UNB said in its statement. Challenges in the UAE’s operating environment on the back of lower oil …
( read original story …)
Fund to finance innovative projects launched
Dubai: A fund to finance innovation projects has been created to boost the country’s approach towards innovation and facilitate the setting up of enterprises by innovative entrepreneurs. His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President …
( read original story …)
Governance structures of Islamic finance needs fine tuning
Dubai: Islamic financial institutions’ business activities must comply with Islamic law (Sharia). Rating agency Standard & Poor’s believe that in view of the fast growth of the Islamic finance industry robust Sharia governance structures is very important.
( read original story …)
UBF Board of Directors reviews latest banking sector developments
Dubai: The Board of Directors of the UAE Banks Federation (UBF) met on Sunday in Dubai to review the latest developments in the banking sector. Presided over by Abdul Aziz Al Ghurair, Chairman of UBF, the meeting discussed the federation’s future plans …
( read original story …)
MIDEAST STOCKS-Abu Dhabi hit after bank merger talk quashed; Saudi slips but Egypt resilient
had carried out a previously announced acquisition of 48.36 percent of the firm from Dubai Banking Group, a subsidiary of Dubai Group, for 0.705 dirham a share. Although the purchase price was well below the market price, some investors are betting ADFG …
( read original story …)
Gulf International Finance Limited
Gulf International Finance Limited (GIFL) is a financial services company registered in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority (DFSA) as an authorised Firm providing financial advisory …
( read original story …)
Hedge in the cloud: funds outsourcing computing power step into unknown
Most other hedge funds – worried by the risks of cyber-attacks and data … Editing by Ruth Pitchford) DUBAI (Reuters) – Henrik Stenson had more crowd interaction than he would have liked on the second day of the DP World Tour Championship on Friday …
( read original story …)
Federal Bank to expand overseas footprints
Federal Bank, a leading Indian private sector banks, opened its second UAE representative office in Dubai as part of a strategy to expand footprints in the Gulf to serve its fast growing overseas clients estimated at over 800,000. Yusufali MA, chairman and …
( read original story …)
Hedge fund stars on track for big pay days: Glocap report
Hedge funds became famous more than a decade ago for delivering … The Swede, who is the Race to Dubai leader, also won a silver medal at the Rio Olympics. “It is a great honor to join the exclusive club of people who have been awarded honorary life …
( read original story …)
Mark Mobius: Rise of ETFs spurs price war fund managers can’t win
And Jeff Levi, who consults money managers on strategy at Casey Quirk by Deloitte, says emerging-market hedge funds have increasingly been dropping fees. This year has proved more than ever before that emerging-market money managers, often regarded as more …
( read original story …)
Ministry of Finance to host Innovation Festival
The UAE Ministry of Finance will hold an Innovation Festival, as part of the UAE Innovation Week. Taking place over two days, the Innovation Festival will include a range of workshops and discussions for business innovators and entrepreneurs, and young …
( read original story …)
Central Bank governor expects UAE economy to expand in 2017
The UAE Central Bank governor Mubarak Al Mansouri said that he expects the country’s economy to expand next year at a faster pace, giving a boost to flailing bank growth. “If we look at expected GDP growth of 2.4 per cent from 2.2 this year, I think …
( read original story …)
Gulf banks could lose access to dollar clearing, UAE central banker warns
ABU DHABI Commercial banks in the Gulf could lose their ability to have dollar trades cleared through the U.S. banking system, increasing risks for them, the United Arab Emirates’ central bank governor warned on Monday. Mubarak Rashid al-Mansouri told a …
( read original story …)
Dubai construction duo Arabtec and Drake & Scull reduce losses
Arabtec said the financial impact of discontinued operations in Saudi Arabia is expected to decrease further after recording a third-quarter loss of 17 million dirhams on the business, against a 79 million dirham loss a year earlier. ($1 = 3.6729 UAE …
( read original story …)